Toyota Motor Corp., the Japanese automaker, intends to cut overseas production by about 100,000 vehicles in the current fiscal year (ending March 2027) due to diminished demand resulting from the extended closure of the Strait of Hormuz, according to Nikkei. The company has informed key component suppliers about its updated production plans, as stated in the publication. Fuel costs have surged...

SK Hynix, a memory chip manufacturer from South Korea, anticipates generating 45.45 trillion won ($29.4 billion) from its IPO in the USA, according to the company statement’s reported by Bloomberg. The company intends to utilize the funds to increase production capacity and acquire deep-ultraviolet photolithography machinery for chip manufacturing. Trading of SK Hynix's American Depositary...

PERN, the Polish pipeline operator, revealed that it has inked a multi-year agreement with Aramco Fuels Poland (AFP) for fuel storage at facilities in Poland. "PERN plans to construct four additional storage facilities at various locations in Poland by 2028. Extra AFP storage capacity in the PERN system will enhance operational planning and inventory management, boost supply stability, and...

DeepSeek secured more than 50 billion yuan ($7.4 billion) in its initial funding round and achieved a valuation exceeding $50 billion, making it the most valuable AI startup in China, as reported by The Wall Street Journal, referencing sources. DeepSeek's founder and CEO, Liang Wenfeng, made the most significant investment, around $3 billion. The National Artificial Intelligence Industry...

Gina Rinehart, the wealthiest individual in Australia, has acquired a share valued at more than $1 billion in Elon Musk's American SpaceX via her firm, Hancock Prospecting, as reported by The Wall Street Journal. Rinehart told about the investment via email, and a source revealed the stake's size. The investment indicates Hancock's trust in Musk and the necessity for additional Western funding...

Fox Corp., founded by billionaire Rupert Murdoch, is purchasing the streaming service Roku for around $22 billion, as reported by the media giant's press office. The agreement is anticipated to finalize in the initial half of 2027 and requires approval from U.S. antitrust regulators. Fox will compensate $160 for each Roku share ($96 in cash and 0.9693 Fox Class A shares for every Roku share)....

Xbox is set to implement significant layoffs next month as new CEO Asha Sharma revamps Microsoft Corp.'s gaming and console division to address falling revenue, according to Bloomberg. Sources indicate that Xbox intends to sharply cut back on marketing and various other expenses across different segments of the business. Sharma has earlier addressed the difficulties in public, mentioning that...

The German car manufacturer Mercedes-Benz intends to form collaboration with Tytan Technologies, a startup located in Munich. Among other aspects, it provides drone interceptors to Ukraine, reports Der Spiegel. The firms officially signed a strategic partnership memorandum on June 10 during the International Aerospace Show in Berlin. Mercedes-Benz and Tytan Technologies aim to create the "Drone...

Pirelli's stock fell 13.5% during Milan trading on Thursday, reaching a minimum of 5.31. The stock dropped sharply after activist investors from Grizzly Research claimed Pirelli had close connections to Russia and was indirectly supporting the Russian military. Grizzly Research holds a short position in these stocks, and the activists are gaining from their drop. The activists assert that they...