Markets
Oxbotica Raises $47M in Series B Funding
In 2018, the company secured $18.5m in funding to expand its operations in Europe, Asia, and the U.S., and a year ago Oxbotica signed an agreement with Hitachi subsidiary Wenco to develop its "open autonomy" mining solution further. It said it is a rapid-to-deploy, low energy, hardware-agnostic autonomy solution, applicable to a range of vehicle types both on- and off-road. The Oxford-base... [Full Article...]
Foxconn Byton add to growing list of global EV partnerships
Taiwanese electronics giant Foxconn , which contract-manufactures products such as the Apple iPhone , has taken a major stake in struggling EV start-up Byton in a move set to accelerate its expansion into the auto industry. Foxconn is also seeking to diversify a business that depends on the US smartphone giant for half its revenue. The company past year announced plans to set up a joint ... [Full Article...]
Trump order bans transactions with eight Chinese apps
President Donald Trump is continuing to pile the pressure on Chinese tech companies in the closing days of his administration. The order, reported by a newsagency, tasks the Commerce Department with defining which transactions will be banned under the directive and targets Tencent Holdings Ltd's QQ Wallet and WeChat Pay as well. [Full Article...]
US private employment dropped 123,000 in December: ADP
Minutes of the Federal Reserve's December 15-16 meeting published on Wednesday showed policymakers expected skyrocketing cases "would be particularly challenging for the labor market in coming months". Small business with fewer than 50 employees shed 13,000 jobs, while medium-sized business with between 50 and 499 members of staff added 37,000 jobs. [Full Article...]
Elon Musk Is World's Richest Person, Surpasses Jeff Bezos
The entrepreneur also benefits from a highly complex compensation package that awards him stock when Tesla achieves certain goals. Musk and Bezos, who are the founding CEOs of the companies included in the list of the most valuable companies in the world, are richer than many companies and even countries with their wealth. [Full Article...]
Trump helps hand Senate to Biden in symbolic end of racist era
Senate seats, Hollywood stars and other celebrities took to social media to react as votes came in and were counted, confirming that the Rev. Raphael Warnock , a Democrat , bested incumbent Kelly Loeffler , a Republican, to become the state's first-ever Black senator. [Full Article...]
Dow, S&P 500 close higher, but pro
The energy and materials sectors rose by more than four per cent. Financials rose 2.42 per cent. Financial stocks rose after the yield on the U.S. 10-year Treasury note rose to the 1-percent level for the first time in about 10 months. Locally, iron ore giants BHP Group (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue Metals ( ASX:FMG ) all hit new record highs as the bulk metal continued its good r... [Full Article...]
Africa economic activity to rise by 2.7% in 2021
The World Bank disclosed this in its January 2021 Global Economic Prospects report titled " Global economy to expand by four per cent in 2021; vaccine deployment and investment key to sustaining the recovery". The World Bank said that per capita income in the region had shrunk by 6.1 percent past year, setting average living standards back by a decade in a quarter of sub-Saharan African count... [Full Article...]