Amazon plans to launch discount store in bid to fend off Temu and Shein
Amazon’s storefront would directly compete with Temu and Shein, two emerging e-commerce sites with ties to China that have grown in popularity in the U.S.
Amazon reaches $2 trillion market cap for the first time
The company joins other tech heavyweights, such as Nvidia, Apple, Alphabet and Microsoft, all of which have crossed a $2 trillion market capitalization.
Google is testing facial recognition technology for campus security, starting at site near Seattle
According to internal documents, Google is testing facial recognition technology at a site in Kirkland, Washington.
Kenya president backs down on tax rises after deadly protests
Kenya’s president on Wednesday withdrew planned tax rises, bowing to pressure from protesters who had launched demonstrations across the country this week.
Italy’s Meloni rattled as European Union negotiators agree deal for bloc’s top jobs
The European Union’s three main political groups have come to an agreement on who will hold the bloc’s top jobs, three officials told CNBC.
Rivian investment a ‘catch-up move’ for Volkswagen that could take years to pay off, advisory firm says
Volkswagen’s $5 billion investment in electrical vehicle startup Rivian is a “catch-up move” for the German automaker, Cyrus Mewawalla says.
Oil prices move higher despite unexpected build in U.S. crude, gasoline stockpiles
Crude oil stockpiles rose by 3.6 million barrels last week, according to data released by the Energy Information Administration.
China’s EV architect says investing in Europe is a way forward
Wan Gang became China’s minister of Science and Technology around 2010 and is known for spearheading the country’s early push into electric cars.
U.S. chip curbs in Middle East just ‘business as usual,’ Ooredoo CEO says after Nvidia deal
Ooredoo earlier this week signed a partnership with Nvidia, marking the chipmaker’s first large-scale entry into the Middle East market. The companies did not disclose the value of the deal.
European stocks close lower as euro extends declines; tech firms nudge higher
European stocks closed lower Wednesday, extending negative sentiment seen in the previous trading session.
