Tag: business news
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Japan signed a critical minerals deal with the U.S. — but it’s still losing the global EV race
Sony Honda Mobility CEO Yasuhide Mizuno speaks at a news conference in Tokyo, on Oct. 13, 2022. Sony and Honda’s joint mobility venture unveiled a new EV prototype in January. Kiyoshi Ota | Bloomberg | Getty Images Japan is gearing up to be a larger player in the EV space by signing a critical minerals…
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Grab cuts 1,000 jobs, its biggest round of layoffs since the pandemic
The headquarters of Grab Holdings Ltd., in Singapore. Grab Holdings Ltd., reported its latest earnings on Feb. 23, 2023. Bryan van der Beek | Bloomberg | Getty Images Singapore-based Grab Holdings is cutting over 1,000 jobs, its CEO said Tuesday, in a bid to manage costs and reorganize the company in a competitive landscape. In…
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Blinken to embark on a high-stakes trip to China
U.S. Secretary of State Antony Blinken speaks at the American Israel Public Affairs Committee annual policy summit on June 5, 2023 in Washington, DC. Chip Somodevilla | Getty Images Secretary of State Antony Blinken is expected to travel to China in the coming weeks for talks, two U.S. officials told NBC News on Tuesday. The…
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El Nino weather impact to hurt Vietnam, Indonesia, Brazil coffee supply
A cup of Espresso coffee in Cascais, Portugal on October 11, 2021. Nikolas Kokovlis | Nurphoto | Getty Images Extreme weather conditions brought on by an approaching El Nino are fueling concerns that robusta beans in major coffee producers like Vietnam and Indonesia could be hit, resulting in soaring prices. “The now widely-expected transition to…
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Biden says it’s ‘unlikely’ the missile that hit Poland was fired from Russia
President Joe Biden of the United States arrives at the formal welcome ceremony to mark the beginning of the G20 Summit on November 15, 2022 in Nusa Dua, Indonesia. Leon Neal | Pool | via Reuters U.S. President Joe Biden said it is unlikely that the missile that hit Poland and killed two people was…
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Indonesia’s GoTo reports wider nine-month loss
Motorcyclists travel past a billboard advertising GoTo’s initial public offering in Jakarta, Indonesia, on Friday, April 8, 2022. GoTo, formed through the merger of Gojek with e-commerce pioneer Tokopedia, raised $1.1 billion in one of the worlds biggest stock debuts this year and is slated to list in Jakarta April 11. Dimas Ardian | Bloomberg…
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Electric car sales surged by 55% in 2022 to hit over 10 million: IEA
Electric vehicles from Tesla photographed in China. The world’s second largest economy is a major player when it comes to the sale of electric vehicles. Vcg | Visual China Group | Getty Images Electric car sales jumped to more than 10 million last year, with China accounting for roughly 60% of the market, according to…
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Plastic pollution credits could be the new carbon offsets
Humanity has produced over 9.5 billion metric tons of plastic. That’s over one metric ton, aka 2,200 pounds, per each of the Earth’s 7.9 billion inhabitants. That plastic doesn’t go away. “All the plastic we’ve ever produced since the inception of the material is still here,” said David Katz, Founder and Chairman of Plastic Bank,…
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Monsoon rains force halt in Indonesia quake rescue efforts
Residents move to a safer place after a 3.9-magnitude aftershock in Cugenang, Cianjur on November 23, 2022, following a 5.6-magnitude earthquake that hit the area on November 21.(Photo by ADEK BERRY / AFP) (Photo by ADEK BERRY/AFP via Getty Images) Adek Berry | Afp | Getty Images Searchers in Indonesia on Wednesday rescued a 6-year-old…
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Hong Kong retains spot as most expensive business destination in Asia
Hong Kong has been named the most expensive location in Asia for business travelers — for the second year in a row, according to a new report. ECA International’s latest Daily Rates research ranked countries based on costs for short trip expenses: four-star hotel rooms, meals, laundry, alcoholic and soft drinks, journeys by taxi and…