BUSINESS
-
Bomb Threat Halts BlueOvalSK Factory Construction in Kentucky [TheGuru=Yerin Jung] The construction site of BlueOval SK, an electric vehicle battery joint venture between SK Energy and Ford, has been suspended due to a bomb threat. No one was injured and the company is cooperating with law enforcement authorities to investigate. At 12:30 p.m. (local time) today, BlueOval SK announced that it confirmed a bomb threat at its Glendale, Hardin County factory construction site and evacuated all employees. Police are currently searching the facility with a bomb squad. The threatster left a note on an inspection sheet in a portable restroom at the construction site stating that the "bomb will go off at 1:00 p.m." So far, no explosives have been found other than the note. As the investigation is ongoing, it is unclear when construction will resume at BlueOval SK. The government and police authorities say they will abide by BlueOval SK's decision. "Safety is our top priority at BlueOval SK," said a BlueOval SK spokesperson, "We have evacuated the site to ensure the safety of all workers." BlueOval SK is building two factories in Glendale, Kentucky, each with an annual capacity of 43 GWh. The batteries will power Ford and Lincoln's next-generation electric vehicles. Approximately 5,000 new jobs will be created. Construction was scheduled to begin in the second half of 2022, with Plant 1 coming online in 2025 and Plant 2 in 2026. In October of last year, the company announced it would delay the start of the second plant. The delay comes as joint venture partner Ford is rebalancing its investment plans amid slowing demand for electric vehicles. The company did not disclose when the new production will start... -
Kim Kardashian's Iconic Game Set to End: Fans Outraged Over Abrupt Termination Kim Kardashian's mobile game 'Kim Kardashian: Hollywood', which was released under her name in 2014, has announced that it will be shutting down in April... -
Shanghai Data Exchange Makes History with First Virtual Asset Issuance and Trading [TheGuru=Sunghwan Hong] China's Shanghai Data Exchange has successfully completed its first virtual asset issuance and trading. It is expected to accelerate the development of China's digital economy. On the 23rd, Shanghai Data Exchange announced that it has issued a total of 999 tradable virtual assets in cooperation with Guangming Dairy, a leading local dairy company. Shanghai Data Exchange is a semi-public organization that was established in November 2021. It officially began operations in January last year after more than a year of piloting. Data exchanges are places where data generated by companies such as aviation, transportation, power, telecommunications, legal, accounting, and finance are bought and sold as commodities. More than 100 companies and organizations, including data companies such as Shanghai Electric Power, China Eastern Airlines, and China Mobile Communications; law firms such as Sherry, Jindoo, and Zhongrun; accounting firms such as PricewaterhouseCoopers (PWC) and Deloitte; data providers such as Fusu Guoji, Youkeder, and Xinghuan Guoji; and financial institutions such as Construction Bank and Agricultural Bank, have signed agreements and registered on the Shanghai Data Exchange. China's data market is expected to reach 81.5 billion yuan in 2022, with an annual growth rate of 30% over the past few years. With the full operation of Shanghai Data Exchange, the market size is expected to reach 175 billion yuan in 2025... -
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 […] -
BYD's Aggressive Pricing Strategy Triggers Price War Among Chinese Electric Vehicle Makers BYD, China’s largest electric vehicle brand, has reignited the price war by launching an electric vehicle that is cheaper than internal combustion engines. As the Spring Festival holiday, the traditional off-season of the Chinese auto market, ends, companies are expected to secure market share aggressively through price reductions. On the 21st, China’s Jiemian newspaper reported, […] -
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...
All content of Gangnam Times is protected by copyright law, and unauthorized reproduction, copying, distribution, etc. are prohibited.
© Copyright by Gangnam Times. All Rights Reserved.
Hot Topics