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A new player in the artificial intelligence (AI) landscape is capturing attention in app stores worldwide—DeepSeek, a Chinese AI chatbot. Comparable in performance to leading AI assistants across the globe, DeepSeek distinguishes itself by being developed at a fraction of the cost. Microsoft CEO Satya Nadella expressed admiration for this breakthrough, stating, “We must take developments from China very, very seriously,” during last week’s World Economic Forum in...
Bob Iger, the Chief Executive Officer of The Walt Disney Company, experienced a 30% increase in his compensation last year, largely thanks to a substantial bonus. Iger’s total pay exceeded $41 million (around €39 million), stemming from Disney’s strong financial performance for the fiscal year 2024, which concluded in September. Disney’s revenue and profit figures both rose compared to 2023. The company benefited greatly in the final quarter...
Mitsubishi Motors is reportedly opting out of a high-profile merger between two of Japan’s automotive titans, Nissan and Honda, choosing instead to consolidate its stronghold in the burgeoning Southeast Asian markets. As reported by the Kyodo agency and the Yomiuri newspaper, Mitsubishi’s decision comes amidst concerns about potentially losing its operational autonomy within a proposed holding company structure. The merger plan, unveiled by Nissan and Honda in late...
In a significant legal development, Purdue Pharma and its owners, the Sackler family, have been ordered to pay $7.4 billion for their substantial role in the US opioid addiction epidemic. The settlement comes after the family faced accusations of exacerbating the crisis through the widespread promotion and sale of potent painkillers, including OxyContin, an opioid with similarities to heroin. The opioid crisis, which took root in the late...
South Korea’s economy exhibited negligible growth in the final quarter of 2024, primarily attributed to ongoing political turmoil, according to the South Korean central bank. Despite a full-year growth of 2 percent, the last quarter’s performance was particularly lackluster, registering a mere 0.1 percent increase. This underperformance marks a deviation from expected growth in Asia’s third-largest economy. The persistent political unrest has adversely impacted consumer confidence, leading to...
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