SoftBank’s Bold Move: A Return to Stock Buybacks After Portfolio Losses
In response to a sharp decline in the value of its portfolio companies, SoftBank Group Corp. has announced a stock buyback program worth up to 1 trillion yen ($8.8 billion). The Tokyo-based tech conglomerate revealed the move on Monday, stating…
Facebook Whistleblower Sophie Zhang Exposes Company’s Inaction on Political Manipulation
In a high-profile testimony before the British Parliament on Monday, former Facebook data scientist Sophie Zhang delivered scathing allegations against the social media giant, accusing the company of enabling authoritarian governments to manipulate political discourse and of turning a blind…
Singles’ Day Faces Headwinds Amid Political Shifts and Supply Chain Challenges
As Singles’ Day, the world’s largest online shopping event, celebrates its thirteenth edition on November 11, it finds itself at a crossroads. Initially launched in 2009 in China with just 27 merchants, the event has grown into a massive global…
Elon Musk’s Net Worth Takes a $50 Billion Hit in Two Days
Elon Musk’s wealth has experienced a dramatic $50 billion drop in just two days, marking the largest two-day loss in the history of the Bloomberg Billionaires Index. This sharp decline is now the biggest one-day fall since Jeff Bezos saw…
Barclays CEO Jes Staley Steps Down Amid Jeffrey Epstein Probe
Jes Staley, the CEO of Barclays Plc, has announced his resignation following a U.K. regulatory investigation into how he described his relationship with financier and convicted sex offender Jeffrey Epstein. The surprise departure marks the end of Staley’s tumultuous six-year…
Oil Spill in California: Amplify Energy Takes Over Three Hours to Halt Worst Leak in Decades
California’s worst oil spill in nearly three decades has come under scrutiny after a government report revealed that Amplify Energy Corp. took more than three hours to stop the leak from its San Pedro Bay Pipeline on October 2. The…
Evergrande Halts Trading Amid Growing $300 Billion Crisis
Shares of China Evergrande Group and its property management unit were suspended from trading in Hong Kong as the company struggles to manage its escalating financial crisis. The trading halt, which also affected all structured products related to the company,…
China Applies to Join Asia-Pacific Trade Pact Once Led by the U.S.
In a significant move that could shift the balance of power in the Asia-Pacific region, China has formally applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The pact, initially proposed by the U.S. to counter China’s…
DoorDash Takes Legal Action Against New York City Over Order Privacy Concerns
DoorDash Inc. has filed a lawsuit against New York City, challenging a newly implemented law that mandates third-party food delivery services to share customer information with restaurants. The law requires delivery platforms to provide restaurants with monthly data on customers…
Why Silicon Valley’s Optimization Mindset Could Lead Us to Fail
In 2013, Rob Rhinehart, a Silicon Valley software engineer, approached food as a problem to be solved. To him, buying, preparing, and cleaning up after meals seemed inefficient and time-consuming. The result of this thought process was Soylent—an engineered meal…
Beijing’s Proposal to Take Control of Didi Global: A Strategic Move in the Digital Landscape
In a dramatic turn of events, Beijing’s municipal government has proposed a significant investment in Didi Global Inc., potentially giving state-run companies control of the world’s largest ride-hailing company. According to sources familiar with the discussions, the government is considering…
Greenland Declares a Bold Ban on Oil Exploration, Citing Climate Imperatives
In a landmark move prioritizing environmental sustainability, Greenland’s government has officially banned all future oil and gas exploration, citing the high environmental and economic costs of extraction. This decision aligns with the island’s socialist-led administration’s strong focus on climate concerns,…