Japan plans ‘world first’ deep-sea mineral extraction from Jan
Tokyo, Japan -- Japan will from January attempt to extract rare earth minerals from the ocean floor in the deepest...Technology Business Geostrategy
TomTom cuts 300 jobs
The firm said it was realigning its organization as it embraces AI.Company News Business
Japan plans ‘world first’ deep-sea mineral extraction from Jan
Tokyo, Japan -- Japan will from January attempt to extract rare earth minerals from the ocean floor in the deepest...Earlier this week the country pledged to work with the United States, India and Australia to ensure a stable supply of critical minerals.
Rare earths -- 17 metals difficult to extract from the Earth's crust -- are used in everything from electric vehicles to hard drives, wind turbines and missiles.
Microsoft laying off several thousand employees
San Francisco, United States -- Microsoft on Wednesday said it was slashing a little less than four percent of its...The cloud computing tech giant did not disclose the total amount of lost jobs but as of June 2024 it employed 228,000 people, bringing the latest layoffs to about 9,000 people.
The job cuts follow a round in May that saw about 6,000 positions culled from its global workforce.
Tesla Q2 sales down 13.5%
Shares rally after the disclosure, better than some forecasts.The sales figures released Wednesday, which are global, reflect the more contested nature of the EV market, which Tesla once dominated.
Musk's political activism on behalf of right-wing figures has also made the company a target of boycotts and demonstrations, weighing on sales.
Eight-country coalition aims to tax luxury air travel
Seville, Spain -- Countries including France, Kenya, Barbados and Spain on Monday launched a coalition to push for taxes on...The coalition said it would work to increase the number of countries taxing plane tickets, including business-class travel, and private jets.
Greenpeace welcomed an "important step" to raise more money from "the most elite and polluting form of travel", which has remained "undertaxed".
Meta’s AI talent war raises questions about strategy
New York, United States -- Mark Zuckerberg and Meta are spending billions to recruit top artificial intelligence talent, triggering debates...OpenAI CEO Sam Altman recently complained that Meta has offered $100 million bonuses to lure engineers away from his company.
Several OpenAI employees have accepted Meta's offers, prompting executives at the ChatGPT maker to scramble to retain their best talent.
TomTom cuts 300 jobs
The firm said it was realigning its organization as it embraces AI.The Amsterdam-based company was an early pioneer of digital navigation in cars, but has been struggling as people no longer use a separate device to move around..
TomTom announced in a statement that it was "realigning its organization as it embraces artificial intelligence", resulting in "organizational changes".
Meta spending big on AI talent but will it pay off?
New York, United States - Mark Zuckerberg and Meta are spending billions of dollars for top talent to make up...OpenAI boss Sam Altman recently lamented that Meta has offered $100 million bonuses to engineers who jump to Zuckerberg's ship, where hefty salaries await
A few OpenAI employees have reportedly taken Meta up on the offer, joining Scale AI founder and former chief executive Alexandr Wang at the Menlo Park-based tech titan
Trump metal tariffs wreak havoc on US factory
Belcamp, United States -- In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape --...At Independent Can's factory in Belcamp, Maryland northeast of Baltimore, CEO Rick Huether recounts how he started working at his family's business at age 14.
Huether, now 73, says he is determined to keep his manufacturing company afloat for generations to come. But Trump's tariffs are complicating this task.
Indonesia begins $5.9 bn EV battery project despite environment fears
Jakarta, Indonesia -- Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant...Indonesia is the world's largest nickel producer and it is trying to capitalize on its vast reserves.
The EV battery project will include a $4.7 billion investment on the eastern island of Halmahera and a $1.2 billion investment in West Java.
China’s Xiaomi receives almost 300,000 SUV pre-orders in minutes
Beijing, China -- Chinese electric vehicle maker Xiaomi received almost 300,000 pre-orders within an hour for its first sport utility...Xiaomi's Hong Kong-listed shares soared eight percent at one point before paring their gains but ending at a record high.
The Beijing-based commercial tech giant made its first foray into car-making with its SU7 EV model last year, part of a broader industry push to boost domestic consumption.
