News
Nestle to axe 16,000 jobs as new CEO targets sales growth
[LONDON] Nestle will axe 16,000 jobs as it tries to raise sales volumes, new CEO Philipp Navratil said on Thursday (Oct 16), as the world’s largest packaged food company...
Paxos mistakenly issues US$300 trillion of PayPal stablecoin
[PORTLAND] Stablecoin issuer Paxos said that it mistakenly minted US$300 trillion of PayPal Holdings’ PYUSD stablecoin on Wednesday (Oct 15) before burning the tokens minutes later.The transactions were visible...
Attention Walmart shoppers: ChatGPT will do your shopping for you
Walmart has partnered with OpenAI to allow its customers to shop for products and pay directly from within ChatGPT.The world’s largest retailer’s embrace of “AI-first” shopping ushers in the...
The secrets behind the South Korean cosmetics boom: K-pop, Kardashians and churn
SEOUL — Jo Min-Su was working toward a computer science doctorate at one of South Korea’s best universities when he stumbled on his calling: building a better lip gloss.The 30-year-old sat...
The key health bills California Gov. Newsom signed this week focused on how technology is impacting kids
New laws signed by Gov. Gavin Newsom aim to make the artificial intelligence and social media landscape in California safer, especially for minors. Senate Bill 243, sponsored by state...
China flexes superpower status using rare earths in global supply chain grab
[BEIJING] China’s sweeping new restrictions on rare earth exports mark its first major effort to police the global flow of critical minerals it dominates, using the same playbook that...
Salesforce to invest $15 billion in San Francisco to advance AI
Software giant Salesforce is planning to invest $15 billion in San Francisco over the next five years to strengthen the city’s dominance in artificial intelligence. “This $15 billion investment...
California cracks down on water theft but spares data centers from disclosing how much they use
Gov. Gavin Newsom has vetoed legislation that would have required data centers to report how much water they use.New data centers have been rapidly proliferating in California and other...
China threatens more retaliation after sanctioning US entities of one of South Korea’s biggest shipbuilders
The moves are a marked escalation in a long-standing dispute between the world’s two largest economies over maritime dominance[HONG KONG] China has threatened further retaliatory measures against US curbs...
Samsung expects highest quarterly profit in over three years, lifted by AI chip demand
[SEOUL] Samsung Electronics on Tuesday (Oct 14) projected a 32 per cent rise in third-quarter operating profit from a year earlier, beating analysts’ estimates by far, as demand for...
