BUSINESS
iPhone maker Foxconn plans expansion in India with $1.6 billion outlay
Foxconn already operates nine production campuses and more than 30 factories employing tens of thousands of people in India, where it takes in around $10 billion of revenue annually
WORLD
Musk, Netanyahu visit massacre site amid antisemitism furor
The Tesla Inc. and SpaceX chief executive officer was briefed by local and military officials in Kfar Aza, where dozens of people were killed.
WORLD
COP28 President lobbied on fossil fuel at climate meetings, BBC reports
Al Jaber’s presidency has been controversial because he remains chief executive officer of the Abu Dhabi National Oil Co., one of the world’s largest oil producers.
TECHNOLOGY
There’s never been a better time to buy an electric car
If that’s a bit rich, there’s an Ariya, Nissan’s all-new EV, listed for $36,690 in Kansas City — a discount of 18%. More affordable still is the $29,990 Hyundai Kona Electric available in Atlanta. That’s a 31% discount, making it almost as cheap as the gas-burning version.
WORLD
Elon Musk to meet Netanyahu, Gantz amid antisemitism furor
The visit will include a closed-door discussion with representatives for families of hostages held in Gaza and Herzog about the need to curb online antisemitism, a spokesperson for the president’s office said in a statement.
WORLD
Battery prices are falling again as raw material costs drop
According to BloombergNEF’s annual lithium-ion battery price survey, average pack prices fell to $139 per kilowatt hour this year, a 14% drop from $161/kWh in 2022.
WORLD
Alibaba shuts Quantum Computing Lab in sign of broader cutback
Alibaba will donate its equipment to Zhejiang University in Hangzhou, where the company is based, a company spokesperson said Monday.
WORLD
Xi Jinping to make his first visit to Shanghai since 2021, SCMP says
Xi is scheduled to visit the Shanghai Futures Exchange as well as several technology companies operating in the city, the Post reported, citing several unidentified people familiar with the matter. The Monday report didn’t specify any of the firms on his agenda.
WORLD
Rishi Sunak says claims UK heading for austerity ‘simply unfounded’
UK Prime Minister Rishi Sunak spoke in London with Bloomberg’s Francine Lacqua. Following is a transcript of the conversation.
WORLD
Malaysia’s Anwar Ibrahim faces hard choices as popularity dips
Except a stalled reform agenda has meant the 76-year-old has been unable to boost the nation’s revenues and pare debt, as the rising cost of living hits the pockets of ordinary Malaysians.
WORLD
Sumitomo Mitsui CEO Jun Ohta, who pushed Asia growth, dies at 65
Jun Ohta died on Saturday, the Tokyo-based lender said in a statement. The cause of death was pancreatic cancer, a spokesperson said on Monday.
WORLD
Joe Biden backs war pause extension after Hamas frees hostages
“This deal is delivering life-saving results. Critically needed aid is going in and hostages are coming out,” Biden told reporters on Sunday.
WORLD
Malaysia to allow visa-free entry to Chinese, Indian citizens
Chinese and Indian nationals may stay for up to 30 days visa-free, Malaysia Prime Minister Anwar Ibrahim
TECHNOLOGY
‘AI Blowback’ angst grips ESG fund managers who bet big on tech
Exposure to AI now represents a “short-term risk to investors,” said Marcel Stotzel, a London-based portfolio manager at Fidelity International.
BUSINESS
Sodium in batteries: Shift may herald another shakeup
Sodium — found in rock salts and brines around the globe — has the potential to make inroads into energy storage and electric vehicles because it’s cheaper and far more abundant than lithium, which currently dominates batteries.
WORLD
China says multiple pathogens are behind spike in respiratory illnesses
Influenza is one of the main causes of the spike in cases, National Health Commission spokesman Mi Feng said at a press conference on November 26. Rhinovirus, mycoplasma pneumoniae and respiratory syncytial virus are also circulating, he said.
AUTOMOBILE
Nissan will invest $1.4 billion to make EV versions of its best-selling cars at UK factory
The auto industry is bracing for 10% post-Brexit trade tariffs taking effect in January. They threaten to raise the cost of new EVs by punishing manufacturers in their respective markets for not sourcing enough of their components from either the EU or Britain.
WORLD
What is COP28 and why is it important?
Planet earth has once again seen the devastating effects of climate change in 2023 as the summer season in the northern hemisphere recorded the warmest temperature on record globally, with at least 5,000 people losing their lives in Libya in the Mediterranean storm Daniel in September, while a wildfire on the Hawaiian island Maui killed at least 115 people.
WORLD
Saudi Arabia raises $11-billion loan to help fund deficit
The 10-year loan was funded by at least 15 banks including Industrial and Commercial Bank of China Ltd., Citigroup Inc., First Abu Dhabi Bank PJSC and HSBC Holdings Plc, according to people familiar with the matter.
TRENDS
Billionaire Manoj Punjabi builds next hollywood in Southeast Asia
Indonesian horror film "KKN di Desa Penari" surpasses global blockbuster "Avengers: Infinity War" to become the highest-grossing local movie.
WORLD
Humanity needs an OpenAI board that will still say ‘No’
OpenAI’s leadership must think carefully about the remaining board members they add, and not just to look progressive. They need women, people of colour and other diverse voices for whom biased language models are most likely to cause harm, and who will speak up about those risks
BUSINESS
Altman is back at OpenAI, but questions remain as to why he was fired in first place
Altman had been fired Friday after clashing with the board over his drive to transform OpenAI from a nonprofit organization focused on the scientific exploration of artificial intelligence into a business that builds products, attracts customers and lines up the funding needed to power AI tools.
TECHNOLOGY
Sam Altman’s OpenAI comeback is a strategic win for Satya Nadella
Committing $11 billion that gave Microsoft a 49% stake — and no board seat was an extraordinary gamble by Nadella, given the possibility of Altman being fired. Nadella can silently thank OpenAI’s nonprofit board for causing all this ruckus. The outcome isn’t even a silver lining — it’s a stronger position in the AI arms race.
BUSINESS
The winners and losers in Sam Altman’s OpenAI kingdom
The biggest winner is Microsoft. The $2.8 trillion tech giant, which relies heavily on OpenAI as its partner in the AI revolution, has successfully protected its investment, without having to hire around 700 OpenAI engineers, as had once seemed plausible or even probable.
