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Ford and Geely to form joint venture at struggling Spain plant
AFP58d agoneutral
Ford and Geely to form joint venture at struggling Spain plant

US carmaker Ford and China's Geely will create a joint venture at Ford's troubled Valencia plant in eastern Spain, where they plan to produce four new models for the European market, the companies said on Thursday.Ford will hold a 66 percent stake in the venture and Geely the remaining 34 percent, the two companies said in a statement about the project which was presented at the plant in Valencia.

Jack Dorsey's Block launches Slack rival
TheStreet58d agoneutral
Jack Dorsey's Block launches Slack rival

Block, Inc. (NYSE: XYZ), the Bitcoin (BTC)-centric financial technology company founded by Jack Dorsey, launched a new platform called Buzz on July 21. Built on the Nostr protocol, Buzz is a free, decentralized, and open-source platform where employees and artificial intelligence ...

Samsung unveils wider foldable phone, hikes prices as chip costs rise
Reuters59d agoneutral
Samsung unveils wider foldable phone, hikes prices as chip costs rise

Samsung Electronics on Wednesday unveiled a passport-sized foldable phone and raised prices of two updated foldable models, as it grapples ‌with rising memory chip prices while bracing for a new threat from Apple ‌in the niche but growing segment. The South Korean technology company pioneered foldable smartphones but its dominance is set to ​be challenged by Apple which analysts expect this year to launch a foldable phone with a screen similar in size to an iPad mini. "Strategically, this is one of Samsung's most important foldable launches," said Francisco Jeronimo, vice president at researcher IDC.

Joby Aviation shares climb on exclusive UK air taxi partnership with Virgin Atlantic (NYSE:JOBY)
InvestorsHub59d agobullish
Joby Aviation shares climb on exclusive UK air taxi partnership with Virgin Atlantic (NYSE:JOBY)

Virgin Atlantic to become exclusive UK airline partnerJoby Aviation (NYSE:JOBY) shares gained 4% on Wednesday after the electric aircraft developer announced a long-term partnership with Virgin Atlantic to introduce commercial air taxi services across the United Kingdom. The agreement, unveiled during the Farnborough International Airshow, names Virgin Atlantic as Joby’s exclusive airline partner for UK air taxi operations.

Nvidia supplier Wistron launches $700 million Texas factory for AI system production
Reuters59d agoneutral
Nvidia supplier Wistron launches $700 million Texas factory for AI system production

Taiwan's Wistron, a supplier to Nvidia, launched a $700 million ‌manufacturing facility in Texas on Tuesday to ‌produce the U.S. chipmaker's latest AI systems, as Taiwanese electronics ​makers expand U.S. production to meet soaring demand for AI infrastructure. • The Fort Worth facility manufactures Nvidia's GB300 Grace Blackwell ‌Ultra Superchip. Nvidia ⁠CEO Jensen Huang has described the AI system built around the product as "the ⁠most powerful AI supercomputer in the world."

Samsung launches first US credit card with Barclays, signals ambitions for deeper financial services push
Reuters60d agoneutral
Samsung launches first US credit card with Barclays, signals ambitions for deeper financial services push

Samsung Electronics on Monday launched its first U.S. co-branded credit card with Barclays, deepening its push into the financial services space ‌in the country and signaling plans to broaden its offerings in the future. The Samsung Galaxy ‌Card, issued by Barclays and running on Visa's network, will allow users to apply, manage accounts, track spending and redeem ​rewards entirely through Samsung Wallet. The credit card launch also puts Samsung in direct competition with Apple Pay, which dominates payment services in the U.S. The launch comes as technology companies and banks race ‌to deepen ties between digital wallets ⁠and financial products, seeking to make smartphones the primary device for payments and money management, and both Samsung and Barclays want to capitalize on it.

Bloomberg62d agoneutral
Alibaba’s Qwen Unveils Preview of Flagship AI Model

(Bloomberg) -- Alibaba Group Holding Ltd. launched a preview version of its flagship Qwen3.8 Max model, which it described as comparable to leading frontier AI models and second only to Anthropic PBC’s Fable 5.Most Read from BloombergUS Strikes Iran to ‘Punish’ It for Attack That Killed 2 TroopsFCC Near Rulings Against Disney Over ‘The View,’ TV LicensesThousands of Trucks Haul Iraq’s Oil Through Syria in Sign of Hormuz LegacyTaylor Farms Pulls Mexican Lettuce as Parasite Cases RiseTwo US Troops

Asian shares sink, with Tokyo down nearly 5% as slumping AI stocks drag world markets lower
Associated Press64d agoneutral
Asian shares sink, with Tokyo down nearly 5% as slumping AI stocks drag world markets lower

Asian shares skidded Friday, with Tokyo’s Nikkei 225 down 5% as heavy selling of computer chipmakers and other AI-related shares dragged markets lower. Stocks related to artificial intelligence have been under pressure for weeks because of worries that their prices have shot too high and that voracious demand for computer memory and processors may not be sustainable if AI ends up not producing as much profit and productivity as promised. Oil prices surged as fighting in the Middle East intensified, while U.S. futures slipped.

Snowflake unveils $448 million pay plan for CEO tied to ambitious stock targets
Reuters65d agoneutral
Snowflake unveils $448 million pay plan for CEO tied to ambitious stock targets

Snowflake on Thursday unveiled a compensation package worth up to roughly $448 million for CEO ‌Sridhar Ramaswamy, hinging on the cloud-based data analytics ‌platform's market value almost doubling to $184 billion in seven years. Ramaswamy's award, ​totaling 1 million shares, is structured into five tranches, each with escalating stock price milestones, and is designed to retain him as CEO until September 15, 2030. Snowflake has been benefiting ‌from clients shifting ⁠their workloads to its cloud platform as they invest to develop AI tools.