Celebrating its 75th anniversary this year, the Ford F-Series is no less than an American icon. Ford’s immensely popular line of pickup trucks has been the best-selling truck for 46 consecutive years and the country’s best-selling vehicle for the last 41 years. And…
Russia’s economy growing 3 times faster than Eurozone’s
French investment firm Amundi: Russia’s economy is growing three times faster than that of the Eurozone, indicating an apparent failure of Western sanctions against Moscow over the war in Ukraine. According to the French investment firm Amundi, cited by British…
$446 Billion: The solution to China’s real estate panic
Beijing announced the two-pronged approach over the past few weeks, which have top-level political backing for financing equivalent to approximately 10% of annual new home sales in what media described as the “Singapore” model. The plan is more of a longer-term…
Texas Attorney General Ken Paxton Sues Pfizer and Tris for Providing Adulterated Pharmaceutical Drugs to Children
The Office of the Attorney General’s Civil Medicaid Fraud Division has sued Pfizer, Inc., Tris Pharma, Inc. and Tris CEO Ketan Mehta for defrauding the Texas Medicaid program by providing adulterated pharmaceutical drugs to Texas children in violation of the…
Iran unveils Fattah-2 hypersonic missile and Mehran air defense system
Iran’s IRGC has unveiled the homegrown Fattah-2 hypersonic missile as well as other new military achievements. Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei toured an exhibition showcasing the latest achievements of the IRGC Aerospace Force at the Ashura…
Samuel Altman fired as CEO of ChatGPT maker OpenAI
Official version: Sam Altman, the Silicon Valley CEO behind the artificial intelligence-powered chatbots ChatGPT and GPT-4, has been abruptly fired by his company’s board of directors in a major shakeup for the tech industry. Microsoft-backed OpenAI said on Friday that…
Fidelity files for spot Ethereum ETF
Fidelity Investment has filed for a spot ether ETF, following its spot bitcoin ETF application. Asset management giant Fidelity Investment has filed for a spot ether ETF, in the footsteps of its spot bitcoin ETF application. “To this point, approval…
China wants all Israel’s nuclear sites to be placed under IAEA safeguards
China has denounced as “extremely irresponsible and disturbing” an Israeli minister’s statement that a nuclear bomb on the besieged Gaza Strip was an option, stressing that all Israel’s nuclear sites must be placed under the International Atomic Energy Agency (IAEA) safeguards. China’s deputy…
Cornell University Study: Exporting US Fracked Gas Is Far Worse for the Climate Than Coal
If all proposed export terminals are built, the climate-warming emissions would be equivalent to 532 coal plants. Fed by a glut of methane produced in the vast fracking fields of Texas and other states, the U.S. fossil fuel industry has…
The COO and CFO of wind turbine company Ørsted have resigned
The inertia of C-class management thinking is a well-known phenomenon. Two C-class managers of Danish multinational wind turbine company Ørsted, CFO Daniel Lerup and COO Richard Hunter, are stepping down from their positions. The officially communicated reason is the abandonment…
China Unveils Plan To Mass Produce Human-like Robots
China is setting out to mass produce human-like robots in two years, an ambitious plan that, according to a blueprint issued by the Ministry of Industry and Information Technology (MIIT), it hopes will make the regime in Beijing the leader…
Turkish Airlines in Talks With Airbus to Purchase 355 Planes
Order would be largest in the Turkish carrier’s history. Airline chairman talked in May of possible 600-plane order. Turkish Airlines is in talks with Airbus SE for what would be the biggest order in the carrier’s history if finalized. Management…
Germany To Bail Out Siemens’ Desperate Wind Turbine Division
As the top analyst here at the PressClub World predicted a few years ago, the Siemens wind turbine division is now a ‘hot potato’. Siemens Energy, facing significant losses, is in talks for up to 15 billion euros in guarantees,…
Moody’s Cuts USA’s Aaa Rating Outlook To ‘Negative’
After a disastrous 30Y bond auction this week, a collapse in Treasury market liquidity, and an accelerating rise in the market’s perception of the United States’ credit risk, Moody’s has just cut its outlook on US credit ratings to negative from…
MBDA and PGZ sign $5 billion deal for Poland’s air defense
The U.K. arm of missile-maker MBDA and the Polish defense company PGZ have signed a contract to work on the next phase of Poland’s anti-air missile program, the two countries announced Wednesday. The deal, worth more than worth more than…