Chinese mainland tax authorities have started levying a 20% personal income tax on returns from offshore insurance policies, according to a report by Caixin citing tax lawyers and insurance insiders. The enforcement action triggered a steep sell-off in major insurers, with Prudential shares falling as much as 13% on Wednesday. Tax Crackdown Targets Offshore Insurance … Read more
SpaceX’s first earnings call as a public company is drawing intense retail investor interest in unconventional topics, ranging from pink rockets to Shiba Inu mascots, according to Reuters reporting by Akash Sriram published on August 1. While the call may be expected to focus on AI spending and profits from the Starlink satellite communications network, … Read more
Samsung Electronics expects global memory chip shortages to worsen and extend into 2028, according to company executives, even as surging semiconductor prices drive massive profit growth while simultaneously squeezing the firm’s mobile division. The memory giant posted an operating profit of 89.2 trillion won ($61.7 billion) for the second quarter, marking a more than 250-fold … Read more
Disney and director James Cameron are asking a California federal court to dismiss a lawsuit filed by Indigenous actor Q’orianka Kilcher, who accused the filmmakers of misusing her likeness to create the protagonist Neytiri in the blockbuster “Avatar” franchise. According to a court filing submitted on Tuesday in the U.S. District Court for the Central … Read more
Chinese memory chip manufacturer ChangXin Memory Technologies (CXMT) has seized newfound pricing power amid a global supply scramble, hiking costs for major tech firms like Huawei and securing a multi-billion dollar deal with TikTok owner ByteDance, according to sources familiar with the matter. The shift highlights a dramatic turnaround for domestic semiconductor firms once reliant … Read more
Public health authorities are currently scrambling to secure medical countermeasures for an outbreak of the Bundibugyo strain of the Ebola virus in the Democratic Republic of Congo. With 2,473 confirmed cases and 999 deaths reported by the government, the lack of approved vaccines or treatments for this specific strain—which carries a fatality rate of up … Read more
China’s state-backed capital operators, China Reform Holdings Corp (CRHC) and China Chengtong Holdings Group, have intervened in the domestic stock market following a sharp sell-off. According to statements released by the firms, they have collectively deployed billions of yuan to stabilize share prices of centrally administered state-owned enterprises (SOEs) and technology firms, citing confidence in … Read more
Skyroot Aerospace successfully launched its Vikram-1 rocket from the Satish Dhawan Space Centre in Sriharikota, marking India’s first orbital mission conducted by a private company. The rocket reached a 450 km orbit, carrying customer payloads and experimental technology. This milestone positions India as the third nation to achieve private orbital launch capability, supporting national goals … Read more
Volvo Cars Sees Q2 Profit Decline but Eyes Recovery with New Electric Model Volvo Cars reported a drop in second-quarter operating profit to 800 million Swedish crowns ($82,76 million), according to a Reuters report, as the automaker prepares to ramp up production of its new EX60 electric SUV. The decline follows a 1.6 billion crown … Read more
Brazil’s Strategic Response to U.S. Tariffs Includes Patent Suspensions and WTO Revival Brazil is preparing to retaliate against U.S. tariffs by targeting intellectual property rights and audiovisual sector interests, according to three sources familiar with the discussions. The measures, which could include suspending pharmaceutical and agricultural seed patents, aim to pressure Washington while avoiding consumer … Read more