Xiaomi has officially registered a division that will develop electric cars. The authorized capital of the subsidiary amounted to $1.55 billion. The first Xiaomi electric car may be released as early as 2023, sources told Reuters in the spring. China's Xiaomi has officially registered an electric...

Some Chinese hedge funds are raising starting salaries for promising college graduates as much as $300,000 a year to get them before American competitors. China has to compete for talent not only with Wall Street, which takes the best talent from the market, but also with local big businesses like...

South Korea is the first country in the world to approve a law that would strip Apple and Google of their monopoly on in-app payments on their platforms. They now receive up to 30% of each transaction. South Korea's National Assembly has approved a bill that would require Apple and Google to allow...

Inflation in the euro zone has reached a ten-year high - according to preliminary estimates, it has accelerated to 3%. The previous day Germany reported its highest inflation since 2008. Inflation in the euro zone will reach 3% in August compared to the same month in 2020, the Eurostat, the...

Those companies in China that overwork their employees are being pulled up by authorities.     A lengthy condemnation of the working culture commonly known in China as "996," a work culture wherein people work from 9 a.m. to 9 p.m. six days a week, was issued by the top court of the...

Fitness tracker manufacturer Whoop was valued at $3.6 billion after another round of financing. One of the participants of this round, the Japanese company SoftBank invested $200 million in the company through its investment fund Vision Fund. According to the Financial Times, as a result, Whoop has...

Google, Facebook and Microsoft were the biggest contributors to lobbying EU policy against new laws aimed at restricting IT giants. Analysts concluded that the technology sector has overtaken the pharmaceutical, financial and chemical sectors that used to dominate lobbying. Google, Facebook and...

Elon Musk opposed acquisition of British chip maker Arm for $40 billion by the U.S. Nvidia. Amazon and Samsung also consider the deal a threat to competition. Founder and head of Tesla, billionaire Elon Musk opposes acquisition of British chipmaker Arm for £29 billion ($40 billion) by the U.S....

The easing of pandemic induced restrictions has allowed greater opportunities for socializing which is expected to increase demand for Old Navy and Athleta clothing brands of Gap Inc, prompting the company to raise its net sale forecast for the entire year for the second time this week. ...