The Korean stock market has reportedly dropped following the warning issued by Jerome Powell, the US Federal Reserve Chairman, about the continued rate hikes. Powell’s warning came at the Jackson Hole economic symposium held over the weekend that sent shockwaves across US stock markets. On the first day following the economic symposium, regional stocks fell by over 2%. The benchmark KOSPI (Korea Composite Stock Price Index) fell by 2.18% from the previous trading day to end at 2,426.89 as international and institutional investors so
VMware’s now generally available VCF 4.4 platform showcases Nvidia’s AI enterprise suite Unique features of VCF 4.4 include multiple security fixes, flexible upgrades in vRealize products, user activity logging and more VMware spearheaded the endeavor to incorporate IT virtualization 20 years ago and transformed the conventional operating systems adopted by enterprise, ensuring easily movable and controllable workloads. Edging its game, the virtualization tech company is approaching next-generation infrastructure development using artificial intelligence
The United States has recorded a sharp decline in its unemployment rates, with several Americans claiming unemployment benefits have dropped to a pandemic low. According to weekly pandemic claims report by the Labor Department, the number of jobless Americans has decreased for the first time since March 2020. This is interesting considering the country’s economy almost came to a halt last year owing to nationwide lockdowns to keep the spread of the Coronavirus at bay. The rise in manufacturing employment in the mid-Atlantic region a
Amid rising concerns regarding greenhouse gas emissions, countries worldwide have announced measures like the adoption of renewable sources of energy and a shift to electronic vehicles. AGL Energy Limited, Australia’s largest carbon emitter and leading power producer, is reportedly planning to speed up the phase-out of its coal-fired plants. However, this is unlikely to happen before 2048. Climate activists in Australia have started pressuring the company to shut down its coal-fired plants by 2030, following a report by the United N
Wizz Air, a low-cost Hungarian air carrier, has reportedly announced that it is scaling-up pilot recruitment across its network, with a goal of hiring 4,600 new pilots by the end of 2030. According to reports, the air carrier has already trained more than 150 additional pilots to fly more than 100% of its pre-coronavirus capacity this summer, and it plans to hire 300 more by the end of 2021 to meet its growth plans in the aftermath of the COVID-19 pandemic. Pilots coming onboard Wizz Air will have the chance to fly on more than 800 routes
After officially listing itself on the stock market and entering the major league, Duolingo is now working on a math app that will be focused on young learners. The potential math app is still in the early development stage and users will learn more at Duolingo’s annual free conference, Duocon. Confirming the news, the co-founder and CEO Luis von Ahn stated that the move will allow the popular language-learning platform to expand its product suite. The company intends to achieve this through upcoming acquisitions, which should prevent it from putting a ton of resources
UBS Group AG, one of the largest banks in Switzerland, has reportedly stepped forward to purchase rival bank, Credit Suisse, in an effort to stabilize the global financial system. The purchase was backed by Swiss government, with regulators making efforts to secure a lucrative deal. According to the Swiss National Bank, this last-minute deal was the most effective way to revive the financial markets and facilitate better risk management for the economy. Under this deal, Credit Suisse was valued at around USD 3.15 billion, which would be just a fraction of its recent USD 8
Lenskart, a renowned Indian eyewear brand, has recently raised funding worth USD 500 million from a subsidiary of Abu Dhabi Investment Authority. ADIA will become the largest shareholder in Lenskart after the completion of the transaction, which is subject to statutory and regulatory approvals. The recent funding at its existing USD 4.5 billion valuation is also one of the biggest funding rounds in the firm’s recent past. The funds will be used to strengthen the firm’s business scope in India and build its presence across Asia and the Middle East. Lenskart will
Renowned influencer marketing platform, One Impression, has recently announced that it has raised Series A funding worth USD 10 million through South Korean gaming company, Krafton. The achievement highlights One Impression’s aim to build a full-stack marketing platform that will help business plans run their campaigns on a large scale. The startup has previously been associated with well-known angel investors like Lenskart founder Peeyush Bansal, CEO of People Group, Anupam Mittal, athlete Neeraj Chopra and comedian Zakir Khan. With the help of these investors, the