SK Hynix, the South Korean memory chipmaker, has made a remarkable turnaround in the first quarter of this year. After reporting a net loss of 2.58 trillion won in the same period a year ago, the company recorded a net profit of 1.92 trillion South Korean won ($1.39 billion) this quarter. This positive income marks
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The former CEO of cryptocurrency exchange Binance is currently in hot water as U.S. prosecutors are pushing for an above-guidance sentence of 36 months. This case is based on charges related to enabling money laundering, as outlined in a recent sentencing memorandum filed with the court for the western district of Washington. According to prosecutors,
Oracle, a global technology company, recently made the surprising announcement that it will be relocating its world headquarters to Nashville, Tennessee. This move comes as a strategic decision to be in close proximity to a major health-care epicenter. In a candid discussion with Bill Frist, former U.S. Senate Majority Leader, Oracle Chairman Larry Ellison highlighted
Jack Dorsey, the CEO of the payments company Block, has recently announced that the company, formerly known as Square, is broadening its bitcoin mining ambitions. This expansion includes moving beyond just designing chips to developing an entire bitcoin mining system. Block revealed in a recent post that they have successfully completed the development of their
The Philippines’ Securities and Exchange Commission (SEC) has taken a decisive step in ordering Google and Apple to remove the cryptocurrency exchange Binance from their respective app stores. This action was prompted by concerns raised by the regulator about the security of funds belonging to Filipino investors who have access to Binance sites and apps.
Recent price cuts by electric vehicle companies Tesla and Li Auto have sent shockwaves through the market, causing a significant decline in their share prices. In response to the fierce competition, Tesla reduced the starting price of its Model 3 in China, while Li Auto also slashed prices for its various models. These price adjustments
The recent completion of Bitcoin’s fourth “halving” marked a significant milestone in the cryptocurrency world. This event resulted in a reduction of rewards earned by miners to 3.125 bitcoins from 6.25. Leading up to the halving, the price of bitcoin experienced volatility and declined approximately 4% to trade around $64,100. While the halving itself may
ASML, the Netherlands’ chip-equipment maker, plays a crucial role in the country’s economy and its position as a key player in the global semiconductor supply chain. The company’s production of extreme ultraviolet lithography (EUV) machines is essential for manufacturing integrated circuits, making it a valuable asset to the semiconductor industry worldwide. The technology behind EUV
Elon Musk, the CEO of Tesla, recently sent out an internal email to address a major issue that arose following the company’s decision to lay off more than 10% of its global workforce. Musk acknowledged that some of the severance packages offered to the laid-off workers were incorrectly low, causing a wave of concern and
Recently, Tesla made headlines by announcing layoffs of 285 employees in the state of New York as part of a broader restructuring effort. These job cuts affected workers at the company’s Buffalo factory, as well as a store and service center in the area. This move follows Tesla CEO Elon Musk’s decision to reduce more