SolarEdge Technologies, a leading provider of solar energy solutions, announced it would lay off 400 employees, including 200 in Israel. The company cited a market downturn at the end of 2023 and the beginning of …
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Elon Musk’s SpaceX to Demolish the ISS and Launch Its Replacement
The International Space Station (ISS), a symbol of international collaboration in space exploration, is nearing its end. In 2030, the ISS will be deorbited, and Elon Musk’s SpaceX will be responsible for its final moments. …
Continue readingPrime Day 2024: Early Deals on Apple, Samsung, and More are Live!
Amazon Prime Day 2024 is just around the corner, bringing with it a flood of discounts on everything from tech to household goods. While the main event is limited to 48 hours, early deals are …
Continue readingAmazon Prime Day: A Decade of Domination and Evolving Strategies
Amazon Prime Day, a 48-hour mega sale exclusively for Prime members, has become a cornerstone of the retail calendar, rivaling Black Friday and Cyber Monday. It’s a testament to Amazon’s success in creating a shopping …
Continue readingSK On Shifts to Prismatic Batteries Amid Slowing EV Market
South Korean EV battery maker SK On is expanding its product portfolio to include prismatic batteries, a move aimed at turning around its business amidst a slowing global electric vehicle (EV) market. The company, a …
Continue readingUnilever to Cut One-Third of Office Jobs in Europe by 2025
Unilever, the consumer goods giant, announced plans to cut a third of its office roles in Europe by the end of 2025. The move is part of a larger cost-saving program aimed at boosting the …
Continue readingLufthansa Cuts 2024 Profit Target Amidst Operational Struggles and Low Yields
German airline group Deutsche Lufthansa has slashed its 2024 earnings guidance, citing low yields in Asia and operational problems at home. The company now expects adjusted 2024 earnings before interest and taxes between €1.4 billion …
Continue readingBunge and Viterra Offer Concessions to Secure EU Merger Approval
Bunge and Viterra, two major agricultural companies, are offering concessions to win EU antitrust approval for their $34 billion merger. This move comes after the European Commission expressed concerns about the deal’s potential impact on …
Continue readingWells Fargo Misses Interest Income Estimates as Deposit Costs Rise, Shares Plunge
Wells Fargo’s second-quarter earnings report revealed a mixed bag of results. While the bank exceeded profit expectations, it fell short of analysts’ estimates for interest income due to rising deposit costs. Net interest income (NII), …
Continue readingBiden Gives $1.1 Billion to GM, Stellantis for EV Production
The Biden administration announced plans to award nearly $1.1 billion in grants to General Motors and Stellantis, the parent company of Chrysler, to convert existing plants for electric vehicle (EV) production and components. These grants …
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