Bumble, the dating app known for its women-make-the-first-move policy, fumbled its way into a PR nightmare with a recent ad campaign that landed with a resounding thud. The ads, which took aim at users choosing celibacy, were met with a barrage of criticism online and accusations of being anti-sex-positive and promoting a narrow view of...
Silicon Valley’s simmering tensions reached a boiling point this week, as Elon Musk threatened to banish Apple devices from his companies over security concerns. The feud centers around Apple’s recently announced partnership with OpenAI, the artificial intelligence (AI) research lab co-founded by Musk himself. Musk, the CEO of Tesla and SpaceX, took to his social...
China’s ailing property market, a significant drag on the national economy, might see a radical intervention in the form of local governments purchasing millions of unsold homes. This unprecedented move follows calls from the Communist Party leadership to address the mounting housing inventory. According to Bloomberg News, the State Council is currently gathering feedback from...
The domestic computer chip industry is receiving a major shot in the arm with the Biden administration’s announcement of a $6.4 billion funding agreement for Samsung Electronics. This investment will fuel the development of a cutting-edge semiconductor manufacturing and research cluster in Taylor, Texas. A Public-Private Partnership Propelling US Chip Independence The total project value...
Shimao Group (0813.HK), a major Chinese developer, is facing a liquidation lawsuit from China Construction Bank (Asia) over unpaid loans of HK$1.58 billion (US$201.75 million). This marks a rare instance of a state-owned bank taking such aggressive action in the ongoing property downturn. Why is this important? The aggressive move by China Construction Bank (CCB)...
Nvidia, a leader in the artificial intelligence (AI) chip market, has unveiled a new AI chip that the company says can do some tasks 30 times faster than its predecessor. This chip is expected to solidify Nvidia’s dominance in the AI chip market. The new chip is part of a wave of announcements from Nvidia,...
In a major development for the Australian transportation industry, Uber has agreed to pay a whopping $272 million to settle a class-action lawsuit brought by frustrated taxi and hire car drivers. The lawsuit, filed back in 2019, claimed that Uber’s operations caused significant financial losses for these drivers. This landmark settlement, finalized in March 2024,...