Saturday, July 13th, 2024

Amazon Invests Ten Billion Euros in Germany

Amazon has announced a significant investment in Germany, with plans to make the country the hub of its European cloud services. The US corporation is set to invest a substantial 8.8 billion euros into...

World’s Largest Solar Company Announces Massive Layoffs: One-Third of Its Workforce to Go

Longi Green, the Chinese photovoltaic energy giant, is laying off a third of its 80,000-strong workforce, according to Bloomberg. The renewable energy company seeks to cut its cost structure in an environment marked by...

Apple Officially Bids Farewell to Its Car Project Forever

The iPhone giant abandons one of the most ambitious projects in the company’s history For a long time, Apple has expressed a desire to enter the electric car segment, but that will no longer...

Global Economic Warning Signs: Five Areas That Pose Significant Risks

Throughout 2023, the global economy faced a series of unprecedented challenges that tested its resilience in multiple ways. Factors like inflation, an extensive monetary tightening campaign, geopolitical conflicts in Europe and the Middle East,...

Major Shift in South African Shopping Malls: Spar, Pick n Pay, and Shoprite Mandated to Terminate Exclusivity Agreements

The Competition Tribunal has recently sanctioned a consent agreement between the Competition Commission and the Spar Group, aiming to terminate long-standing exclusive lease deals within the grocery retail industry. This confirmation solidifies the cessation...

Sekunjalo’s Reaction to Appeal Court Verdict Allowing Nedbank Account Closures

The Sekunjalo group has reacted strongly following a ruling by the Supreme Court of Appeal (SCA) that allows Nedbank to close the group’s accounts. This verdict, overturning a prior decision by the Equality Court,...

Economic Contraction: SA Records 0.7% Smaller Economy in Year-on-Year Comparison

Economic Contraction: SA Records 0.7% Smaller Economy in Year-on-Year Comparison The South African economy experienced a 0.2% contraction in growth during the transition from the second to the third quarter. This decline was slightly...

Elon Musk’s Wealth Takes a $16.1 Billion Hit Amid Weak Tesla Earnings

In a significant turn of events, Elon Musk, the richest person on the planet with a staggering fortune of $209.6 billion, saw his wealth plummet by $16.1 billion on Thursday. The reason behind this...

Airbnb’s Impact on South African Economy: Creating Jobs and Promoting Domestic Tourism

In a recent interview with Velma Corcoran, the regional lead for Middle East Africa at Airbnb, we gained insight into the significant impact Airbnb has had on the South African economy. The report she...