THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

A U.S. Navy patrol aircraft sailed across the sensitive Taiwan Strait on Wednesday, the U.S. military said, calling the operation a display of the country’s commitment to a free and open Indo-Pacific. China claims sovereignty over democratically governed Taiwan and says it has jurisdiction over the strait. There is a disagreement between Taiwan and the...  Read more

Democrats have no Biden backup plan for 2024, despite age concerns. It would be a problematic intraparty struggle if the Democratic Party suddenly needed to replace President Joe Biden as its standard-bearer, and the Democratic Party does not have a Plan B in place if President Joe Biden decides to stop his campaign for re-election...  Read more

The Federal Aviation Administration (FAA) said on Tuesday that it has established a new policy for aircraft certification. The policy stipulates that “major” adjustments must be made to the design of essential flight control systems, such as the one that was implicated in two deadly incidents involving Boeing (BA.N.) 737 MAX aircraft in 2018 and...  Read more

Retailers around the United States are keeping their fingers crossed for a cold and dry Black Friday since this will mark the beginning of the crucial Christmas shopping season. They expect millions of customers to visit their stores on this day. However, because many consumers are already experiencing financial strain, Christmas spending in the United...  Read more

US Secretary of Defense Austin: the US will ‘stand with Ukraine.’ According to his statement on the social media platform X, United States Secretary of Defense Lloyd Austin visited Kyiv on Monday. “I’m here today to deliver an important message: the United States will continue to stand with Ukraine in their fight for freedom against...  Read more

President Xi Jinping assured American executives in San Francisco on Wednesday that China is prepared to be a friend and partner of the United States and that there is much space for bilateral cooperation. Beijing attempts to reassure international business and counter its nation’s difficulties in luring foreign investment. After a day of negotiations between...  Read more

U.S. retail sales decreased in October for the first time in seven months due to a decline in hobby and automobile purchases. This further supports the Federal Reserve’s position that it will stop raising interest rates. This suggests that demand will slow down at the beginning of the fourth quarter. Other statistics released on Wednesday...  Read more

A federal appeals court has said that Tesla Inc. (TSLA.O.) did not violate U.S. labor law when it forbade employees at its central Fremont, California, assembly factory from donning pro-union t-shirts. In a ruling on Tuesday, the 5th U.S. Circuit Court of Appeals, located in New Orleans, ruled that Tesla’s uniform policy was legal as...  Read more

The U.S. unveils up to $3.5 billion in funding to boost domestic battery manufacturing. On Wednesday, the United States Department of Energy said that it will allocate up to $3.5 billion from the infrastructure law that former Vice President Joe Biden signed in 2021 in order to improve domestic manufacturing of batteries and battery materials....  Read more

On Wednesday, U.S. Vice President Joe Biden will have his first meeting with Chinese President Xi Jinping in over a year. The purpose of the meeting is to discuss ways to reduce tensions between the two hostile nations about armed conflicts, drug trafficking, and artificial intelligence. However, significant headway on the wide gaps between the...  Read more

HSBC Sells Off Argentine Business at $1 Billion: Global banking behemoth HSBC has announced the sale of its Argentina business, signaling a departure from a country laden with difficulties. Years of dealing with Argentina’s unstable economy and fluctuating currency rate led to the decision. Grupo Financiero Galicia is going to buy HSBC Argentina, a private...  Read more

US inflation jumps as fuel and housing: Consumer prices rose more than expected in the most recent US Department of Labor report, suggesting that efforts to rein in inflation may have hit a wall. After a 3.2% increase in February, prices increased by 3.5% in the twelve months before March. The main reason for this...  Read more

TSMC wins subsidies to expand US chip manufacturing: An additional facility will be built in Arizona, USA, by the prominent chip manufacturer Taiwan Semiconductor Manufacturing Company (TSMC), bringing the total investment in the nation to $65 billion. As part of larger attempts to boost semiconductor manufacture within the US, the US government has allocated $6.6...  Read more

Panama Papers money-laundering: As a major step forward in the quest for justice in the wake of one of the largest financial leaks in history, the trial of twenty-seven persons charged with money laundering in the Panama Papers scandal has begun in a criminal court in Panama. Some of the world’s richest people used offshore...  Read more

Retiring in your 60s is becoming an impossible goal: Traditional retirement at 65 is becoming an unrealistic or even unreachable goal for many people around the world due to rising life expectancy and rising expense of living. Notable people in the financial industry share this new outlook. During the March release of BlackRock’s annual investor...  Read more

Boom times for US green energy: A second, bigger factory in the US was announced in February by the well-known US-based company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol. The Inflation Reduction Act (IRA) had a major impact on this decision, according to Jimmy Samartzis, the chief executive of the corporation. The IRA...  Read more

Abrdn hits out at ‘corporate bullying: The renaming of a long-standing investment firm to Abrdn has prompted an executive to accuse the media of “corporate bullying” during the process. Formerly known as Standard Life Aberdeen, the asset management firm changed its name three years ago to something shorter and without vowels. The media’s reaction to...  Read more

Spain to axe ‘golden visas’ scheme: The “golden visa” scheme has been a contentious policy initiative in Spain, but the government has begun to phase it down. This program, which was put in place in 2013 by the government of Mariano Rajoy, allowed foreign investors to get residency quickly, mostly by buying properties for €500,000...  Read more

Bank boss Jamie Dimon warns US interest rates: The chief executive officer of a major international bank has warned that interest rates in the United States could rise to 8 percent. The head of JPMorgan Chase, Jamie Dimon, has said that the bank is prepared for such a situation because of the ongoing pressures from...  Read more

Binance has matured past cultural issues: Following the imposition of a $4.3 billion fine to settle accusations from the U.S. Justice Department, Binance’s new CEO Richard Teng declared that the business had addressed cultural issues. According to the DOJ, Binance acted first and then asked for forgiveness. On Tuesday, Teng confirmed these worries. Paris Blockchain...  Read more

Japan’s Tohoku Electric will delay the nuclear reactor restart on construction works. Due to further safety building work, Japan’s Tohoku Electric Power (9506.T) said on Wednesday that it would postpone restarting reactor No. 2 at its Onagawa nuclear station. As a result, all of its nuclear power facilities have been shut down since the 2011...  Read more

According to analysts and industry executives, airlines’ dissatisfaction with Boeing’s (BA.N) inability to control a string of safety and supply issues has been reignited by a cabin rupture at 16,000 feet and the grounding of over 170 of the company’s aircraft. United Airlines (UAL.O) and Alaska Airlines (ALK.N), which ran the domestic U.S. flight on...  Read more

To catch up to its competitors worldwide in the transition to battery-powered vehicles, Japanese manufacturer Honda Motor (7267.T) said on Tuesday that it will begin production of a new electric vehicle series in 2026. The second-largest automaker in Japan has been sluggish in accelerating EV sales, trailing behind US and European rivals like General Motors...  Read more

Wall St. climbs on a megacap boost; inflation and earnings are in focus. The strength in several megacaps helped Wall Street’s major indexes rise during Wednesday’s erratic trading. However, market confidence was managed with caution ahead of inflation figures and significant bank results later in the week. In advance of a much-awaited government bond auction,...  Read more

Months after the car’s premiere in China and Europe, Tesla (TSLA.O.) unveiled the updated Model 3 small sedan in North America on Wednesday at costs that remained the same. After a pricing war last year that helped the firm fulfill its yearly delivery goal at the expense of profitability, this action will modernize Tesla’s outdated...  Read more

The Houthis, who are headquartered in Yemen, launched 21 drones and missiles into the southern Red Sea on Tuesday, according to reports from the United States and Britain, which also hinted at potential more actions to safeguard international maritime lines. As the three-month-long conflict between Israel and Hamas in Gaza continues to spread throughout the...  Read more

Mexico’s headline inflation likely ticked higher in December. According to a Reuters poll released Monday, Mexico’s headline inflation rate probably increased somewhat in December for the second straight month. Still, the closely watched core rate was predicted to keep declining. For a while, the benchmark interest rate of the Mexican central bank, Banxico, will continue...  Read more

At the CES electronics trade show in Las Vegas on Monday, Volkswagen (VOWG_p.DE) unveiled its first cars with a voice assistant that incorporates ChatGPT technology, allowing drivers to have researched information read to them as they drive. Through a collaboration with Cerence Inc., the chatbot is integrated and able to manage in-car entertainment and respond...  Read more

On Monday, several investment managers revealed their fees for their planned spot bitcoin exchange-traded funds (ETF), a step toward U.S. securities regulator approval this week. In SEC filings, BlackRock (BLK.N), VanEck, Ark Investments/21Shares, and Bitwise, among others, said they expect to significantly undercut the average market rate for U.S. ETFs as the battle for market...  Read more

According to two people with knowledge of the situation, KKR (KKR.N) intends to inform the antitrust regulators of the European Union by the end of January about its intention to acquire Telecom Italia’s (TIM) (TLIT.MI) fixed access network. In an agreement valued at up to 22 billion euros ($24 billion), Italy’s erstwhile phone monopoly consented...  Read more

Ukraine received $1.34 billion under the World Bank project in the finance ministry. Under the World Bank’s public expenditures for administrative capacity endurance in Ukraine, Ukraine was awarded $1.34 billion, according to the Ukrainian finance ministry, which announced this on Monday. In a statement, the ministry explained that the financing comprised a loan from the...  Read more

The Russian central bank needs months to ensure CPI falls before rate cuts. According to statements made by Elvira Nabiullina, the governor of the Russian Central Bank, to RBC media on Sunday, the bank would require two to three months to ensure that inflation is consistently decreasing before making any decision about interest rate reductions....  Read more

BOJ’s Ueda signals the chance of policy shift and progress on price goal. The Governor of the Bank of Japan, Kazuo Ueda, stated on Monday that the probability of the central bank attaining its inflation target was “gradually rising” and that the bank would consider modifying its policies if the odds of achieving the 2%...  Read more

The purchase of HSBC’s (HSBA.L) domestic subsidiary by Royal Bank of Canada (RY.TO) for C$13.5 billion ($10.2 billion) was authorized by Canada on Thursday. This agreement would further solidify the dominance of the nation’s leading lenders in the market. The agreement is contingent on RBC building a global banking center in Vancouver, preserving HSBC’s Canadian...  Read more

Diageo (DGE.L), the manufacturer of Tanqueray gin and Johnnie Walker whiskey, is fighting to rebuild investor confidence after issuing a profit warning last month. The company is also trying to revitalize its faltering Latin American operation. Diageo issued a warning last month, citing a build-up of unsold stock in Mexico as part of the predicted...  Read more

Our exploration unfolds at the intersection of science and society, where everyday individuals become the unsung heroes of discovery as we embark on a breakthrough journey into the future of medical research. Learn how, in a world altered by collaboration, citizen science is accelerating and transforming the landscape of medical advances, putting the power of...  Read more

Imagine a future in which robots understand and respond to your emotions and social cues in a world where technology is not just developing but emphasizing. The realm of ‘Training Robots to Respond to Human Emotions and Social Cues’ isn’t science fiction; it’s a revolutionary journey into the heart of emotional robotics, redefining the fundamental...  Read more

China venture capital and private equity funds rattled by proposed changes. There has been a pushback from industry participants concerned that China’s proposal to dramatically raise the threshold for participating in private equity (PE) and venture capital (VC) funds might wipe out small funds and strangle financing for businesses suffering in a bad economy. Late...  Read more

According to two people with knowledge of the situation, JPMorgan Chase (JPM.N) plans to outsource the management of its local custody business in Taiwan and Hong Kong, with Citigroup (C.N.), HSBC (HSBA.L), and Standard Chartered (STAN.L) vying for the contract. According to the sources, the Wall Street Bank, now ranked as the third largest global...  Read more

To replace its aging Boeing (BA.N.) 747 cargo airplanes, Cathay Pacific Airways (0293.HK) said on Friday that it had placed a definite order to acquire six Airbus (AIR.PA) A350 freighters with a list price of $2.71 billion. This is part of the airline’s effort to modernize its fleet of planes. According to a statement the...  Read more