Expanding its involvement in the realm of cryptocurrencies, PayPal has taken a deeper plunge by introducing its inaugural stablecoin that is tethered to the US dollar. Branded as PayPal USD (PYUSD), this freshly launched stablecoin has the primary purpose of establishing a seamless connection “between Fiat and Web3 for consumers.” In a press release on … Read more
The US housing market has achieved a significant milestone by reaching an unprecedented valuation of $47 trillion, as reported by Redfin. This remarkable achievement surpasses the previous record of $46.6 trillion, which was set just a year ago. The driving force behind this surge in valuation is the persistent scarcity of available properties, leading to … Read more
Foxconn, the world’s largest contract electronics manufacturer and a significant supplier for Apple, announced on Saturday a 1.23% year-on-year decline in revenue for July. However, the company is anticipating a rebound in business during the third quarter. Formally known as Hon Hai Precision Industry Co Ltd, Foxconn (2317.TW) reported revenue of T$469.23 billion ($14.82 billion) … Read more
Amazon.com Inc (AMZN.O) has once again come under scrutiny from the U.S. workplace safety regulator for subjecting workers in its extensive warehouses to hazardous working conditions. This time, the issue revolves around burdensome production quotas and inadequate medical care provision. The Occupational Safety and Health Administration (OSHA), a part of the U.S. Department of Labor, … Read more
In a strategic move, Hasbro has inked a deal to sell its eOne television and movie business to Lionsgate for approximately $500 million US. This transaction comes just four years after Hasbro’s acquisition of eOne for $4 billion. Under the terms of the agreement, Lionsgate will pay $375 million in cash and assume production financing … Read more
After seven years of addressing the challenges in cross-border payments for businesses, Singapore-based startup Thunes is now setting its sights on a grander ambition—to challenge the hegemony of SWIFT, the world’s dominant international financial network. In a video interview, Thunes CEO Peter De Caluwe envisions a future where treasurers and CFOs say, “I wire you … Read more
In a move aimed at addressing the longstanding barriers that women face in advancing within the business landscape of the Asia-Pacific region, Google has initiated a fund dedicated to nurturing startups founded by women. Named the Google for Startups Women Founders Fund, this initiative is set to allocate $100,000 in equity-free capital to six female-founded … Read more
Anticipation is building among music enthusiasts and vigilant chart observers as they eagerly await Billboard’s revelation of the newest No. 1 album in the United States. In a departure from its usual Sunday evening unveiling, the announcement has been postponed on this occasion, leaving fans in suspense and conjecturing about who will seize the top … Read more
David Spade’s former Los Angeles residence is up for sale once again, with an asking price of $32.5 million, marking a significant increase of about 66% from the amount he sold it for earlier this year—$19.5 million. The property was listed by Spade in January 2022 for just under $20 million and garnered an offer … Read more
A federal judge dismissed a defamation lawsuit filed by former President Donald Trump against CNN on Saturday, after Trump argued the cable network had unfairly attacked him in recent years—the latest failed defamation claim by the former president, who has frequently deployed similar lawsuits against his adversaries. District Judge Raag Singhai, a Trump appointee presiding … Read more