Browsing: Business-All

After arriving in New York on Tuesday, China’s new ambassador issued a plea to “safeguard the interests of China,” as stated in a statement issued by the Chinese embassy in the United States. After a vacancy of almost six months, China finally appointed Xie Feng as its ambassador to the United States. His most recent position was that of deputy foreign minister. On Tuesday, Xie said the bilateral relationship confronts “serious difficulties and challenges,” and that his goal is to “enhance China-U.S. exchanges and cooperation,” as the statement put it. CNBC sought comment from the U.S. Department of State, but…

Due to inferior growth and lower profitability after the 2008 financial crisis, Ana Botn, executive chair of Spain’s Santander Group, said that the largest bank in the United States is worth what the top nine or ten European banks are. However, credit default swaps, a sort of protection for a company’s bondholders against failure, are more prevalent at the top European banks, “which means that fixed income investors think the risk of our debt is lower than the best banks in the U.S.,” Botn said. She argued that the recent volatility that resulted in the sale of Credit Suisse to…

The increasing competition in the electric car industry may have finally convinced Tesla CEO Elon Musk to embrace conventional advertising efforts. Elon Musk, CEO of Tesla, recently said that the company might “try a little advertising,” marking a dramatic departure from Tesla’s traditional anti-ad stance. The electric vehicle manufacturer has relied on the enthusiasm of its customers and supporters rather than investing in expensive advertising efforts during the course of its twenty-year existence. When asked why Tesla has never before invested in advertising, Musk has gone so far as to say he “hates advertising.” At Tesla’s annual shareholder meeting on…

Directors  Oatly, who have just unveiled a campaign praising the dairy sector, have been having a lively discussion about how the company plans to differentiate itself via the use of unconventional marketing strategies. Oatly has never been afraid to stir the pot, and that won’t change anytime soon. For the better part of its decade in the public eye, the Swedish oat milk brand has been poking fun at the traditional dairy sector and upending marketing norms with a series of commercials that nearly urge the customer to disregard them. For instance, one billboard ad asked its target audience, “You…

Michelle McEttrick, the head of marketing at Primark, met with her counterparts at Boots and Waitrose to explore expanding the in-store experience. In the 24 weeks ending on March 4, 2023, sales in the UK were up 15% over the same time a year earlier, thanks to increased foot traffic. Sales across the board for ABF, which includes Primark as well as its sugar, food, and farm businesses, increased 21% to £9.56bn. McEttrick, speaking on a panel at Advertising Week Europe in London this week, avoided discussing the company’s digital offering in favor of emphasizing its “firmly based in bricks…

According to internal papers and interviews with six current and former workers, Elon Musk’s brain-implant enterprise has stocked its animal-research monitoring board with corporate insiders who may financially gain if the firm fulfills its development objectives. Organizations conducting experiments on certain species of animals are mandated by federal law to establish such review panels. The panels are responsible for ensuring that all animals are treated humanely, that research is conducted to the highest possible standards, and that data used by regulators to determine whether or not a medicine or medical device is safe for human testing can be trusted. Experts…

Watsonx is a new AI and data platform released on Tuesday by International Business Machines Corp (IBM.N) to assist businesses in incorporating AI into their operations. Over a decade has passed since IBM’s software named Watson gained widespread notice by beating human contestants on the game show Jeopardy!, and now a new artificial intelligence platform has been released. Watson, according to IBM at the time, could “learn” and understand human speech. According to Reuters, however, the exorbitant price of Watson at the time made it difficult for businesses to implement. Ten years later, the viral success of the chatbot ChatGPT…

Aviation is one of the most challenging industries to electrify and decarbonize, but Honeywell International Inc. revealed on Wednesday a new method to manufacture lower-carbon aviation fuel using green hydrogen and carbon dioxide recovered from industry. Biomass-based feedstocks like soybean oil and recycled cooking oil are often utilized to produce sustainable aviation fuel, or SAF. To manufacture lower-carbon methanol, which is subsequently converted into fuels like SAF, Honeywell’s new method would mix green hydrogen (made in electrolyzers from renewable energy and water) with carbon dioxide taken from industrial smokestacks. Honeywell claims their method may cut GHG emissions by 88% when…

Mobileye said on Tuesday that the next Porsche models would have automatic help and navigation features from the company’s so-called “SuperVision” technology platform. After China’s Geely, this is the second significant signing for the platform by the technology supplier with a major automotive firm. A spokeswoman for Volkswagen Commercial Vehicles confirmed that the company would collaborate with Mobileye in addition to the Pittsburgh-based self-driving startup Argo AI for its autonomous shuttles and vans. In October of last year, Volkswagen said it would not be investing in Argo AI and that its commercial cards division would be looking for other partnerships.…

On Thursday, Twitter Inc. began rolling out its encrypted messaging service to users who subscribe to its Blue verification tool. Elon Musk, CEO of Tesla, said the service was live for verified users of the most recent version of the app on the social networking site he owns and operates. Verification on Twitter now requires a Twitter Blue membership, which costs a minimum of $8 per month or $84 per year. The business said on a blog post that “the standard should be, if someone puts a gun to our heads, we still can’t access your messages” when it comes…