Motional is an American autonomous vehicle company founded in 2020, with its headquarters in Boston, Massachusetts. It was established as a joint venture between automaker Hyundai Motor Group and auto supplier Aptiv. According to reports, Motional has announced plans to lay off 550 employees, which amounts to about 40% of the company’s workforce, in a…
South Korea: $7.30 Billion Chip Industry Investment
South Korea has announced plans to invest $7.30 billion USD in a support package for the semiconductor chip industry. This investment deal aims to boost South Korea’s position in the semiconductor market. The support package will target chip materials, equipment makers, and fabless companies throughout the semiconductor supply chain. South Korea is also constructing a…
Microsoft To Launch Mobile Game Store
Microsoft has announced plans to launch its mobile game store to compete with the Apple App Store and Google Play Store. The launch is expected to be in July and will feature games like Candy Crush and Minecraft first. The report further states that the store will be launched on the web rather than an…
Binance: $4.38 Million Fine
The Canadian anti-money laundering agency has issued a fine of $4.38 million USD to Binance for violating the money laundering and terrorist financing laws. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada’s financial intelligence unit. It was established in 2000 and is responsible for overseeing compliance with the country’s anti-money laundering…
Miami: $59 million Aston Martin Residence
Miami’s latest addition to its skyline is the 66-story building built by Aston Martin, the British luxury sports car manufacturer, located at the mouth of the Miami River on Biscayne Bay. It is the company’s first venture into the residential real estate market. The tower is 818 feet high, covering a total of 1.25 acres….
Amazon: $9 Billion Cloud Computing Investment
Amazon Web Services (AWS) has announced plans to invest $9 billion USD in expanding its cloud infrastructure in Singapore. This investment will be made over the next four years and will help AWS meet growing customer demand for cloud services and accelerate the adoption of artificial intelligence technologies. The report further states that the investment…
Samsung: $92.7 Million Sonio Acquisition Deal
Samsung Medison Co., Ltd. is a manufacturer of diagnostic ultrasound systems. It is a subsidiary of Samsung Electronics and was founded in 1985. As of 2020, the company has sold its medical devices in 110 countries, which amounts to 85% of its total sales. According to reports, Samsung Medison has announced the acquisition of Sonio,…
Microsoft: $3.3 Billion Data Center facility
Microsoft has announced plans to build a $3.3 billion USD high-tech data center facility in Wisconsin, where Taiwan electronics manufacturer Foxconn had planned to build a $10 billion USD factory but scaled back on its plans. This investment deal will create 2,300 construction jobs and 2,000 permanent jobs over time. Microsoft will also partner with…
Chime Financial: $4.55 Million Fine
Chime Financial, Inc., is a San Francisco-based financial technology company founded in 2012 that partners with regional banks to provide certain fee-free mobile banking services. It offers early access to paychecks, negative account balances without overdraft fees, high-yield savings accounts, etc. According to reports, the Consumer Financial Protection Bureau (CFPB) has ordered Chime to pay…
Akamai: $450 Million Noname Security Deal
Akamai Technologies, Inc. is an American delivery company, founded in 1998 and headquartered in Cambridge, Massachusetts. It operates a worldwide network of servers and provides content delivery network (CDN), cybersecurity, DDoS mitigation, and cloud services. According to reports, Akamai has announced the acquisition of Noname Security for $450 Million USD. This acquisition deal is expected…