Category: Business
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Spotify Announces Price Increase: Monthly Subscription Cost to Rise in the US
Popular music streaming service Spotify is set to increase its monthly subscription price for the first time. According to reports from the Wall Street Journal, the company plans to implement the price hike in the US as early as next week. The current standard subscription rate for Spotify’s ad-free premium tier is $9.99 per month.…
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Congress Launches Investigation into Ford’s Deal with CATL for Battery Technology
Ford Motor Company is facing a congressional investigation into its licensing agreement with Chinese battery manufacturer CATL. In a public letter addressed to Ford CEO Jim Farley, House Republicans Mike Gallagher and Jason Smith revealed that two congressional committees are probing the automaker’s deal with CATL, particularly focusing on the utilization of CATL’s battery cell…
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Bolt, and Its Former CEO Ryan Breslow, Under SEC Probe
The e-commerce software company Bolt and its former CEO, Ryan Breslow, are currently the subjects of a probe by the U.S. Securities and Exchange Commission (SEC). The investigation, initiated last year, is examining whether any federal securities laws were violated during Bolt’s fundraising efforts in 2021. According to a letter from a lawyer representing Bolt…
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Amazon to Establish $120M Satellite Processing Facility for Project Kuiper in Florida
Amazon is making significant strides in its satellite venture, Project Kuiper, as it plans to invest $120 million in a satellite processing facility at NASA’s Kennedy Space Center (KSC). The facility’s construction is already underway, and it will be strategically situated near the launch operators responsible for sending Kuiper satellites into orbit, including Blue Origin…
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Botinkit Raises $13M in Funding to Expand Kitchen Robot Business and Enable Cross-Regional Restaurant Expansion
Kitchen robot manufacturer Botinkit has secured $13 million in a Series A funding round, led by Forebright and featuring investors such as 5Y Capital and Brizan Venture. Zexiang Li, known for his angel investment in drone giant DJI, and Ko Ping-Keung, an investor and professor at Hong Kong University of Science and Technology, also participated…
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YouTube Premium Individual Plan Price Increases to $13.99 for US Subscribers
YouTube, the popular video-sharing platform, has raised the prices of its Premium individual plan for subscribers in the United States. The monthly cost has been increased from $11.99 to $13.99, following last year’s price hike for family plans in various countries, which saw the family plan tariff rise from $17.99 to $22.99 per month. The…
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Google Tests AI-Powered Tool for News Article Writing: A Game-Changer or Cause for Concern?
In a bold move that is generating both excitement and concern, Google is reportedly testing an AI tool called “Genesis” that has the capability to write news stories. The tech giant has already pitched this AI tool to prominent news organizations like The New York Times, The Washington Post, and News Corp, the owner of…
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Aurora Raises $820 Million in Capital to Boost Autonomous Trucking Business
Aurora Innovation, a leading self-driving technology company, has successfully completed a capital raise of $820 million through a public and concurrent private offering of its stock. This strategic move is aimed at supporting Aurora’s plans to launch an autonomous trucking business by 2024 and sustain its operations until at least 2025. The recent stock sale…
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Grab Rentals Acquires Trans-cab: A Game-Changing Move in Singapore’s Ride-Hailing Sector
Grab, the prominent ride-hailing and food delivery company in Singapore, has made a significant move in the market by signing an agreement for its car rental unit, Grab Rentals, to acquire Trans-cab, the city-state’s third-largest taxi operator. This acquisition marks Grab’s first local competitor buyout and is expected to be finalized in the fourth quarter…
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Apple Threatens to Shut Down FaceTime and iMessage in UK Amid Surveillance Policy Dispute
Apple has issued a warning to the UK government that it may shut down its end-to-end encrypted communication services, FaceTime and iMessage, if the government proceeds with plans to expand digital surveillance powers. The warning is part of a growing trend of tech companies expressing discontent with government policies that they perceive as harmful to…