Tesla has filed a lawsuit against the Swedish Transport Agency, alleging that postal workers are blocking license plate deliveries for the company’s vehicles in support of striking workers. Swedish unions, engaging in strikes and blockades, are pressuring Tesla to sign a collective bargaining agreement with its service division employees, including technicians and mechanics. Tesla argues… Continue reading Tesla sues Swedish government after postal workers block license plate deliveries

Foxconn Technology, a major Apple supplier, has announced a significant investment of over $1.5 billion in an Indian construction project to meet its “operational needs.” The investment was made through Foxconn subsidiary Hon Hai Technology India Mega Development, registered in Maharashtra state since 2015. The subsidiary plans to allocate an equivalent amount in Indian rupees… Continue reading Apple iPhone maker Foxconn to invest $1.5 billion in India as it looks to build beyond China

Coinbase CEO Brian Armstrong believes that the recent historic settlement against Binance by the U.S. Department of Justice marks a turning point for the cryptocurrency industry, allowing it to move past a series of scandals and problems. In an interview with CNBC, Armstrong expressed the hope that the enforcement action against Binance would help close… Continue reading Coinbase CEO says crypto industry can turn the page after historic Binance settlement

Nvidia, a prominent player in the semiconductor industry, is reportedly postponing the release of a new artificial intelligence chip for the Chinese market. The chip, named H20, is designed to comply with U.S. export restrictions, and Nvidia has informed Chinese customers that its launch will be delayed until the first quarter of the following year.… Continue reading Nvidia reportedly delays China AI chip designed to comply with U.S. export rules

The cryptocurrency market has experienced a notable recovery following a recent dip, with Bitcoin reaching a new high for 2023 at $38,015.16, its highest level in over a year. As of Friday morning, Bitcoin was trading at $37,709.50, reflecting a 3.5% increase for the week. Ether, the second-largest cryptocurrency by market cap, has surpassed the… Continue reading Bitcoin rises to new high for the year Friday above $38,000

Meta CEO Mark Zuckerberg and his company could benefit from the recent drama surrounding Sam Altman’s departure and return to OpenAI. While there’s debate over the winners and losers of the OpenAI executive saga, some experts consider Microsoft and CEO Satya Nadella victorious, given Microsoft’s position as OpenAI’s largest financial backer. However, Meta, having observed… Continue reading How Meta could benefit from the OpenAI shakeup

Two cryptocurrency platforms associated with digital entrepreneur Justin Sun have fallen victim to two separate hacks, resulting in an estimated total theft of $115 million. The affected platforms are the HTX digital currency exchange (formerly known as Huobi) and the blockchain bridge Heco Chain, both linked to Sun’s investments. The HTX digital currency exchange disclosed… Continue reading $115 million stolen from two crypto firms linked to Justin Sun after hack

Cryptocurrency exchange Binance Holdings Ltd. and its Canadian founder, Changpeng Zhao, have pleaded guilty to criminal charges in the United States arising from money laundering violations and from operating in the U.S. without regulatory oversight. Prosecutors claim that Binance, which operated the world’s largest cryptocurrency exchange, facilitated illegal transfers of money in and out of… Continue reading SEC defendant Binance to pay $4.3-billion (U.S.)

Jack Ma, the founder of Alibaba, has postponed plans to reduce his stake in the e-commerce giant despite previous intentions to sell 10 million shares valued at around $870 million. The decision comes as Alibaba’s stock currently trades below its actual value, according to Alibaba’s Chief People Officer, Jane Jiang. The announcement of Ma’s plans… Continue reading Jack Ma halts plans to cut his Alibaba stake after shares in the Chinese e-commerce giant drop

Sam Altman is set to return as the CEO of OpenAI after facing significant pressure from employees and investors following his ousting less than a week ago. The move coincides with the addition of former Salesforce co-CEO Bret Taylor and former Treasury Secretary Larry Summers to OpenAI’s board, with Taylor taking the chair position. Adam… Continue reading OpenAI brings Sam Altman back as CEO less than a week after he was fired by board

Amidst the turmoil at OpenAI following the removal of CEO Sam Altman, approximately 667 OpenAI employees, including co-founder and board member Ilya Sutskever, have signed a letter demanding the resignation of the remaining board members. The letter accuses the board of incompetence and highlights the destabilizing impact of their decisions on OpenAI’s mission and work.… Continue reading Hundreds of OpenAI employees threaten to follow Altman to Microsoft unless board resigns

Microsoft CEO Satya Nadella expressed the need for a change in the governance structure of OpenAI in an interview with CNBC, following the sudden firing of OpenAI CEO Sam Altman. Nadella emphasized the necessity for a shift in governance and mentioned that Microsoft would engage in a constructive dialogue with OpenAI’s board on this matter.… Continue reading Microsoft CEO Nadella says OpenAI governance needs to change no matter where Altman ends up