Category: News
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Meet Colin Huang, who just stepped down as CEO of $100 billion Pinduoduo and whose wealth exploded by $25 billion in 2020
Visual China Group/Getty Images Colin Huang, ” the 40-year-old creator of e commerce Pinduoduo, is currently China’s third-richest individual. Huang on July 1 stepped down as chief executive of Pinduoduo, which has managed to rack up a market cap of over $100 billion in less than five years. Pinduoduo is a online marketplace that connects…
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COVID-19, severe weather and power outages
Wildfire and hurricane season is here and with it comes an influx of weather-related power outages. Experts are warning that extreme weather events and natural disasters will be more frequent and intense this year and that this summer will be hotter than average. Power outages coinciding with elevated temperatures can quickly escalate into a public…
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BIG designs furniture factory for Vestre in Norwegian forest
Danish architecture studio BIG has designed a factory for furniture manufacturer Vestre in a Norwegian forest, which the brand claims will be the “world’s most eco-friendly furniture factory”. Named The Plus, the factory development, which will include a visitor centre and a 300-acre park, is set to be built within a forest near the village of…
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Jeff Bezos is now richer than even before
By Berber Jin along with Jack WitzigJeff Bezos’s net value has crushed through its prior peak, even after he relinquished a quarter of his own bet in Amazon.com Inc. as a part of a divorce settlement last year.Shares of the Seattle-based retailer jumped 4.4percent to a record $2,878.70 Wednesday, fostering the creator ’s world-leading fortune…
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Tesla shares surge 10% to record high after 2nd-quarter deliveries beat estimates (TSLA)
Tesla shares continued its winning streak on Thursday after the company announced Q2 delivery statistics which beat analyst estimates. Tesla delivered 90,650 vehicles vs analyst estimates for 83,000. The company’s production rates were down 20% because of COVID-19 stopping production at its Fremont factoryoutlet. Generation at its Fremont mill has been ramped up back into…
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Tesla overtakes Toyota as the world’s most valuable automaker
By Reed StevensonTesla Inc. displaced Toyota Motor Corp. as the world’s most valuable automaker, underscoring investor enthusiasm for a company trying to transform an industry that’s relied on internal combustion engines for more than 130 years.Shares of Tesla, which have more than doubled since the start of the year, climbed as much as 3.5% in…
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Fascism, propaganda and weaponised disinformation: Dustborn is shaping up to be a war of words
2016 was the year when it all went wrong. Draw your own conclusions as to why, but the global political direction starting that year left Ragnar Tørnquist and his team at Norwegian game studio Red Thread feeling disenchanted. “Being a game developer right now, you feel like ‘what the fuck are we doing?’” says Tørnquist.…
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2021 Nissan Ariya Unveiling Date Set For July 15, Will Be A Global Model
We’re only a couple of weeks away from seeing the Ariya electric crossover in production guise, as Nissan has announced July 15 as the official premiere date. Set to take on the likes of the Tesla Model Y, it will launch in Japan at first but will eventually become available in other global markets, including…
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Byton Falls Victim To Covid-19, Suspends Most Operations To Seek More Funds
Byton is suspending many operations, including production at its factory in Nanjing, China, from July 1 to raise new funds and issue cost-cutting measures in a bid to take care of the heavy blow in the coronavirus pandemic. The EV startup firm, that has furloughed half of its US-based workers since April, is confronted adding…
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Tesla blows past Toyota to become most valuable automaker in the world
In 10 years, Tesla has gone from public market newbie to the most valuable automaker in the world by market value. The electric automaker had long since passed the valuations of Ford and GM and in January became the most valuable U.S. automaker ever when its market cap hit $81.39 billion. Still, a few automakers…