South Korean tech giant Samsung has announced an extraordinary increase in its operating profit for the second quarter of 2023. The company estimates an operating profit of 10.4 trillion won (approximately $7.54 billion) for the quarter ending June 30, representing a remarkable 15-fold increase compared to the same period last year. This impressive growth has

In June 2024, Romania witnessed a significant surge in new car registrations, marking an impressive increase of 62.13% compared to June 2023. The total number of new vehicles registered reached 21,358 units for the month. Year-to-Date Overview For the first half of 2024, new car registrations totaled 83.505 units, reflecting a 13.11% rise from the

Three European entrepreneurs propose a groundbreaking undersea energy interconnection to link Europe with North America. Touted as the world’s largest subsea energy interconnection, this ambitious project aims to transfer renewable electricity bi-directionally, leveraging the sun’s movement across the sky. Project Overview The proposed interconnection involves three pairs of high-voltage cables spanning over 3,200 kilometers across

Volkswagen AG, Europe’s largest automaker, announced plans to develop a low-cost electric vehicle (EV) to compete with Chinese manufacturers. This decision follows the collapse of partnership talks with Renault, as reported by Reuters. Volkswagen aims to produce an EV priced around €20,000 ($21,746), with a global debut planned for 2027. “This is about entry-level electric

During a recent all-hands meeting at Alphabet, Google’s parent company, executives faced tough questions from employees concerned about low morale, despite the tech giant achieving a market cap exceeding $2 trillion. Employees highlighted a “significant decline in morale, increased distrust, and a disconnect between leadership and the workforce,” questioning the steps leadership would take to

Elon Musk’s artificial intelligence venture, xAI, engages with investors worldwide, eyeing a substantial funding round of up to $6 billion. Reports indicate Musk is reaching out to affluent individuals and entities across the globe, including in Hong Kong, to fuel xAI’s ambitions, positioning it in competition against Microsoft-backed OpenAI. The fundraising efforts, as disclosed by

Estonian mobility platform Bolt secures a major cash infusion to prep for going public next year. Bolt announced it has landed a €220 million credit facility from a group of big investment banks including Barclays, Deutsche Bank, Goldman Sachs, and JPMorgan. This type of credit line provides Bolt with a strategic cash reserve it can