SK Hynix, a South Korean memory chipmaker, has announced a significant turnaround in its financial performance. The company reported a net profit of 1.92 trillion South Korean won ($1.39 billion) in the first quarter of this year, marking a remarkable reversal from a loss of 2.58 trillion won in the same period last year. This
Enterprise
In a recent sentencing memorandum filed with the court for the western district of Washington, U.S. prosecutors are pushing for a harsher sentence of 36 months for the former CEO of cryptocurrency exchange Binance. This sentence is well above the suggested advisory guidelines, which recommend a range of 12 to 18 months in prison. The
Jack Dorsey, the CEO of Block, formerly known as Square, recently announced that the company is taking its bitcoin mining ambitions to the next level. They have moved beyond just designing chips to developing a full bitcoin mining system. This move demonstrates their commitment to innovation and growth in the cryptocurrency space. According to Block,
Oracle’s Chairman Larry Ellison made a surprising announcement on Tuesday that the company would be moving its world headquarters to Nashville, Tennessee. The decision to move the “huge campus” to Nashville is based on the city’s reputation as an established health center, making it a strategic location for Oracle to be closer to a major
The Philippines’ Securities and Exchange Commission (SEC) has taken a bold move by ordering Google and Apple to remove cryptocurrency exchange Binance from their app stores. The SEC cited concerns about the security of the funds of investing Filipinos due to Binance’s unregistered securities offerings and operating as an unregistered broker, which goes against the
The recent price reductions by Tesla and Li Auto have had a significant impact on their stock prices, with Tesla shares dropping by 3% in premarket trading and Li Auto falling to an 11-month low. This suggests that investors are concerned about the implications of these price cuts on the companies’ profitability and market position.
The recent Bitcoin halving event on Friday resulted in a reduction of miner rewards from 6.25 bitcoins to 3.125 bitcoins. This event has prompted significant price volatility in the cryptocurrency market, with Bitcoin trading around $64,100 according to Coin Metrics. While the halving itself may not have an immediate impact on the price of Bitcoin,
The semiconductor company ASML caused a stir when its CEO, Peter Wennink, indicated that they may consider relocating operations if certain conditions were not met. The company’s concerns stemmed from plans by the Dutch government to reduce tax breaks for highly skilled migrants and restrict the number of foreigners attending Dutch universities. These changes would
Tesla CEO Elon Musk recently sent out an internal email acknowledging a mistake in some of the severance packages that were sent to laid-off workers. This error, which resulted in some employees receiving lower-than-expected severance payments, was promptly addressed by Musk with a promise to correct the issue immediately. The company did not provide further
Recently, Tesla announced that they would be laying off 285 employees in the state of New York. Most of these employees were part of the workforce at the company’s Buffalo factory, with a smaller number coming from a store and service center in the area. The layoffs are part of a broader restructuring effort by
