Samsung Group has announced that executives will now work six days a week, starting this week, as the conglomerate moves into "emergency mode" to address a myriad of business challenges. This decision comes in response to the sharp depreciation of the Korean won, rising oil prices, and high borrowing costs, all contributing to business uncertainty. This shift also follows Samsung's…
BlackRock, the world's largest asset manager, has reported a record $10.5 trillion in assets under management (AUM) during the first quarter of the year. This milestone is accompanied by a remarkable 36% surge in profit, attributed to the buoyant global equity markets that have propelled investment advisory and administration fees. The surge in global stock markets, fueled by expectations of…
Apple has made a groundbreaking announcement, signaling a departure from its longstanding practice of exclusively distributing iOS apps through its App Store. As per the latest development, developers meeting Apple's stringent criteria will now have the option to offer their iPhone apps for direct download from their websites, specifically targeting users within the European Union (EU). This shift marks a…
The global smartphone market, according to recent reports from IDC, has experienced a notable rebound in the first quarter. However, amidst this resurgence, tech giant Apple Inc. finds itself grappling with a significant decline in iPhone shipments, marking its worst performance since the onset of the Covid-19 pandemic. Challenges in China Market Ever since the debut of the latest-generation iPhone…
Telegram, the popular messaging app, announced a significant milestone as it achieved positive cash flow in the first quarter of the year. Founder Pavel Durov expressed confidence in the company's financial trajectory, anticipating a profitable year ahead. A Promising Outlook: Positive Cash Flow and Growing User Base Durov revealed in a recent interview that Telegram closed the previous quarter with…
Apple Inc. is venturing into personal robotics, exploring new horizons after the recent halt of its electric vehicle (EV) project. Sources familiar with the matter reveal that teams within Apple are delving into the development of automated home devices, marking a potential shift toward innovation in the realm of household technology. Engineers at Apple are currently conceptualizing a mobile robot…
Once more, the spotlight returns to the electrifying clash between Tesla and BYD in the realm of electric cars. The latest report on Tesla's car sales unveils a remarkable turn of events as the company, spearheaded by the indomitable Elon Musk, experiences a decline in sales for the first time since 2020. Meanwhile, BYD, the Chinese electric vehicle giant, has…
Zoom Workplace brings communication, employee engagement, spaces, and productivity solutions together on a single platform with Zoom AI Companion capabilities woven throughout. Today, dispersed teams and disconnected collaboration tools have created unwanted complexity — in the form of more meetings, siloed communication channels, and information overload. A 2023 Morning Consult report commissioned by Zoom revealed that more than half of…
Huawei Technologies showcased an impressive revival in 2023, marking the swiftest revenue escalation in the past four years. This resurgence was predominantly fueled by an upsurge in the consumer sector and the burgeoning revenue streams from nascent ventures such as smart car components, facilitating a remarkable rebound from the punitive measures imposed by the United States in 2019. The conglomerate's…
Hyundai has unveiled plans for a colossal $50 billion investment, positioning itself to seize a top-three spot in the rapidly evolving electric vehicle (EV) market by 2030. This ambitious initiative underscores Hyundai's determination to lead the charge as the automotive landscape undergoes a monumental transformation towards electrification. The Korean automotive giant's investment drive is laser-focused on fortifying its foothold in…
