Italy’s competition authority, AGCM, has fined Meta, the parent company of Facebook and Instagram, a sum of $3.8 million USD for engaging in unfair commercial practices in the handling of user data on Instagram and Facebook. According to AGCM, Meta failed to inform users registered on Instagram via the web about the commercial use of…
Stellantis Recalls 211,581 Vehicles
Stellantis has issued a recall of 211,581 vehicles due to a software malfunction that could disable the electronic stability control system. The report mentions that the Anti-Lock Brake System (ABS) control module may disable the electronic stability control system due to a malfunction, and driving in that condition can increase the risk of a crash….
Kia Recalls 463,000 Vehicles
Kia has issued a recall of about 463,000 vehicles in the United States due to a fire risk. According to the notice from the National Highway Traffic Safety Administration (NHTSA), the front power seat motor may overheat due to a stuck power seat slide knob, which can result in a fire while parked or driving….
ByteDance: $2.13 Billion AI Investment In Malaysia
ByteDance Ltd. is a Chinese internet technology company founded in 2012, with its headquarters in Haidian, Beijing. It is the parent company of the popular video-sharing app TikTok. According to reports, ByteDance has announced plans to invest $2.13 billion USD to set up an Artificial Intelligence (AI) hub in Malaysia. This investment will be used…
Revel To Layoff 1,000
Revel started off as an electric moped sharing service company founded in 2018 with headquarters in New York. It discontinued the service in 2023 and now specializes in electric-vehicle taxi service and EV charging stations. The company boasts of having over 500 electric vehicles in operation as of 2023. According to reports, Revel has announced…
SpaceX: The Launch of a 400-Feet Rocket (4)
SpaceX launched the Starship rocket on June 6, 2024, and successfully achieved key objectives for its fourth test flight, demonstrating the vehicle’s reusability. According to reports, after a successful launch, the Super Heavy booster successfully landed in the Gulf of Mexico after separating from the starship. The starship then blasted its own engines to begin…
Google Acquires Cameyo
Google has announced that it has acquired Cameyo, a platform that develops virtualization tools. Cameyo was launched in 2010 and is headquartered in North Carolina, USA. This acquisition aims to virtualize Windows applications so that they can run on other machines or in HTML5 browsers. It will provide ChromeOS users with easier access to Windows…
Toyota: $282 Million Investment
Toyota, the Japanese auto manufacturer, has announced plans to invest $282 million USD in Huntsville, Alabama to add new product lines at the Huntsville plant. The report also mentions that this investment will create approximately 350 jobs and bring the total investment in Toyota Alabama to over $1.7 billion USD.
Nvidia: $3 Trillion Market Cap
Nvidia Corporation, the American multinational technology company, achieved a market capitalization of $3.012 trillion USD after its stock rose to $1,224.40 at the end of the day on Wednesday, June 5, 2024, making it the second most valuable company in the world. This is a result of the surge in the Artificial Intelligence space. Nvidia…
Kimberly-Clark Exits Nigeria
Kimberly-Clark Corporation is an American multinational consumer goods and personal care corporation that produces mostly paper-based consumer products. It was founded in 1872 and is headquartered in Texas, USA. The company’s products include notable brands such as Kotex and Huggies baby diapers. According to reports, Kimberly-Clark has announced its intention to exit Nigeria after 15…