BUSINESS
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Terraform Labs CEO Faces Extradition to U.S., Potential 100-Year Sentence Montenegrin Court Decides to Extradite to the U.S. "Up to 40 years in Korea and over 100 years in the U.S." FTX Founder Sentenced to 115 Years in Prison FTX founder Do-hyung Kwon, who is being held in Montenegro on charges of coin fraud after the Tera-Luna crash shook the virtual asset (cryptocurrency) market, has been extradited to the United States. While Kwon has three days to appeal the decision, it has been argued that he could face more than 100 years in prison if his extradition is confirmed. -
Nvidia (NVDA) Stocks Surge after Strong Q4 Earnings with Demand Outstripping Supply NVIDIA (NVDA) announced “surprise earnings” for the last quarter, causing its stock price to surge 16% on the 22nd (local time) and setting a new record. NVIDIA’s revenue for the fourth quarter (November to January) of the fiscal year 2024 was $22.1 billion, up 265% from the previous year, and Non-GAAP earnings per share (EPS) […] -
Nvidia's Earnings Blast Through Expectations: S&P 500 Hits All-Time High NEW YORK (Reuters) - U.S. stocks rallied strongly on Wednesday (Nov. 22), with artificial intelligence (AI)-related stocks rallying after U.S. chipmaker Nvidia reported "surprise earnings".The Dow Jones 30 Industrial Average closed above the 39,000 mark for the first time ever, while the Standard & Poor's 500 Index surged to a record high, its biggest gain since January last year.In New York, the Dow closed at 39,069.11, up 456.87 points, or 1.18 percent, from its previous close. The S&P 500 index closed up 105 points, or 1.18 percent, at 39,069.11... -
Audi's Bold Move with New 2025 Q3 to Challenge Luxury SUV Rivals Audi, which has been performing relatively poorly behind Benz and BMW, has announced the launch of a premium compact SUV. The Audi Q3 is the third-generation model, and its new design and technological advancements have attracted the attention of many netizens... -
Chinese Electric Vehicle Companies Cut Prices to Boost Sales China Daily reported on February 20, 2024 that Chinese electric vehicle makers are continuing to compete to cut prices at the start of the year... -
Meta's Mark Zuckerberg to Discuss AI Partnership with Samsung's Lee Jae Yong Mark Zuckerberg, CEO of Meta, is set to visit South Korea. His visit, which marks the first in 10 years, is drawing attention as it is known that he will meet with Lee Jae Yong, the chairman of Samsung Electronics, and discussions are expected, focusing on the construction of an “Artificial Intelligence (AI) Semiconductor Alliance.” […] -
What Brings Mark Zuckerberg to Korea? Insights into His Possible Agenda Facebook CEO Mark Zuckerberg will visit South Korea. The President's office is considering meeting with the CEO, and the visit will reportedly discuss business related to AI semiconductors... -
Samsung's $18 Billion Investment Sparks Economic Boom in US Semiconductor Industry Samsung Electronics construction of semiconductor factories in Austin and Taylor, USA, has been worth exceeding $18 billion to the local economy. It has been evaluated that the company has grown into a key company in Texas by creating about 38,000 jobs and significantly contributing to expanding tax revenue. Samsung Austin Semiconductor (SAS), the U.S. subsidiary […] -
Saudi Arabia's Cash Reserves Plummet Amid Mega-Projects Push As Saudi Arabia continues to push for mega-projects such as Neom City, it appears that their cash reserves are rapidly dwindling. As a result, they are expanding borrowing to secure funds for their ventures. According to a report by The Wall Street Journal (WSJ) on the 21st, as of September last year, the cash holdings […] -
Tesla CEO Elon Musk Nominated for Nobel Peace Prize: Here's Why Elon Musk has been nominated for the Nobel Peace Prize. Musk is an advocate for freedom of expression and dialogue, and runs several technology companies that enable communication and connectivity, increasing knowledge about society and the planet... -
Rolls-Royce Cullinan with $15 Million License Plate Turns Heads in Dubai In April last year, a Dubai license plate sold for a whopping 55 million UAE dirhams (about $2 billion), making it the most expensive license plate ever sold. The 2 billion license plate is now in place and on a very recognizable vehicle... -
Korean Semiconductors Caught in the Middle: Facing Pressure from U.S., China, and Japan With US President Joe Biden's visit to South Korea, the semiconductor industry is facing the challenge of securing competitiveness. The U.S. and Japan are expanding with software competitiveness and subsidies, and China is also looking for a way out of the U.S.'s grasp. -
Uranium Investment Rebounds: Goldman Sachs and Macquarie Lead the Charge Uranium investment is gaining attention once again. This surge in interest is due to the rising prices of uranium, driven by an increased focus on nuclear energy. Global investment banks such as Goldman Sachs and Macquarie and hedge funds actively invest in uranium. According to industry insiders, on the 21st, Goldman Sachs, Macquarie, and hedge […] -
Six Chinese Automakers in Top 20 Global Sales for 2023 Market research firm MarkLines reveals 2023 sales forecasts for automakers around the world. -
China's Entry into the Global Passenger Aircraft Market, Challenging Boeing and Airbus China has thrown down the gauntlet in earnest to the global airliner market, which is dominated by Boeing and Airbus. It is expanding its exports with two mid-size and small airliners, and is expanding the scope of its operations by participating in the air show in Singapore. It has received a whopping 1061 orders from its home country alone. "China's first indigenously produced medium-sized passenger plane, the C919, made its debut at an international air show, attracting attention," according to China's Xinhua News Agency and Hengguoshibo on Tuesday. "It is participating in an air show at Singapore's Changi International Airport." -
Home Depot Faces Tough Quarter: Sales Down Again as High Mortgage Rates Impact Demand [AlphaEconomy=(Chicago) Correspondent Kim Jisun] U.S. home equipment provider Home Depot's sales have fallen for five consecutive quarters... -
Walmart's Big Bet: $2.3 Billion Deal to Acquire Vizio Signals Shift in Retail Strategy Walmart has finally acquired TV manufacturer Vizio. Walmart announced on the 20th (local time) that they agreed to acquire TV manufacturer Vizio for $2.3 billion. This indicates Walmart’s high expectations for future advertising revenue. Walmart stated that through this transaction, they can not only sell advertisements through Vizio’s TVs but also gain more opportunities to […] -
Microsoft's $2.1 Billion Investment Spurs AI Growth in Spain Microsoft, a giant software company in the United States, is investing in Spain for AI expansion following Germany. Bradford L. Smith, Vice Chairman and President of Microsoft, posted on social media on the 19th (local time) that they are investing $2.1 billion to expand AI and cloud infrastructure in Spain. Microsoft’s investment in Spain comes […] -
Global Investors Flee China: Germany Shifts Focus to U.S. Amid Economic Concerns China's slowing economy and conflict with the United States are accelerating the "flight to China" of foreign investors, with German investment in China declining and US investment increasing. FDI is also falling, and stock market outflows are accelerating... -
Chinese Battery Domination Defies U.S. Inflation Reduction Act The U.S. Inflation Reduction Act (IRA), which does not subsidize electric vehicles with Chinese batteries, has been ineffective. Chinese batteries have dominated the market in the U.S. and other parts of the world. To get subsidized, domestic battery companies have to go to North America or the U.S...
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