International oil cartel OPEC and its allies said they may drop crude prices again in response to an unfriendly stance by the Biden administration and attempts by Iran to reenter the market. “The reality that remains that global picture is far from even and the recovery is far from complete,” stated Prince Abdulaziz bin Salman, […]
The executive who steered the transformation of Google’s self-driving car project into a separate company worth billions of dollars is stepping down after more than five years on the job. John Krafcik announced his departure as CEO of Waymo, a company spun out from Google, in a Friday blog post that cited his desire to […]
While Ethereum’s price action did see a lot of sideways movement from the second week of March 2021, the closing days of the month renewed bullish momentum. This led to a surge of close to 40 percent over the past two weeks, a surge that has now allowed the world’s largest altcoin to breach the […]
The U.S. unemployment rate last month slipped to 6% as some 916,000 jobs were added to the economy, the Department of Labor said Friday. Friday’s jobs report comes amid glimmers of hope that the end of the pandemic is within sight, as COVID-19 cases fall across the country and vaccine access is finally opening up. […]
BEIJING — China’s central bank warned on Thursday of financial risks in the country that have accumulated over the years, as well as shocks from overseas uncertainties. These risks include “oscillation” in the stock and fixed income markets and potential bond defaults in real estate companies, said Zou Lan, director of the People’s Bank of […]
Contract chipmaker TSMC said on Thursday it plans to invest $100 billion over the next three years to increase capacity at its plants, days after Intel Corp announced a $20 billion plan to expand its advanced chip making capacity. Taiwan Semiconductor Manufacturing Co Ltd, whose customers include Apple Inc and Qualcomm Inc, had already flagged […]
U.S. manufacturers expanded in March at the fastest pace in 37 years, a sign of strengthening demand as the pandemic wanes and government emergency aid flows through the economy. The Institute for Supply Management, a trade group of purchasing managers, said that its measure of factory activity jumped to 64.7 last month, from 60.8 the […]
Shares of Frontier Airlines’ parent company fell 0.8% in their first day of trading on Thursday. The budget carrier said late Wednesday it raised $570 million in an initial public offering, the latest U.S. airline to go public as the industry starts to see signs of a recovery from the Covid pandemic. Denver-based Frontier sold […]
President Joe Biden is prioritizing a national EV charging network under his $2 trillion infrastructure bill, promising to have at least 500,000 of the devices installed across the U.S. by 2030. The Biden administration is rolling out Wednesday a $174 billion plan to spur the development and adoption of electric vehicles that includes money to […]
Ford Motor is significantly cutting production at six plants in North America due to an ongoing global shortage of semiconductor chips, including facilities that produce highly profitable pickup trucks. The actions vary by plant but range from overtime shift cancellations to facilities being closed for up to three weeks from April through June. Or a […]
Huawei’s revenue growth slowed dramatically last year as the impact of U.S. sanctions and the economic fallout from the coronavirus weighed on the Chinese technology giant. Revenue for 2020 totaled 891.4 billion yuan ($136.7 billion), a 3.8% year-on-year rise in yuan terms. That was slower than the more than 19% revenue growth Huawei saw in […]
The Pentagon awarded a long-term contract to Microsoft to build more than 120,000 augmented reality headsets for the U.S. Army, officials said on Wednesday. Microsoft will produce Integrated Visual Augmentation System (IVAS) headsets equipped with its HoloLens technology. The contract is worth up to $21.88 billion over a 10-year period, according to Microsoft. “The IVAS […]
