Business

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CEO of TRON Foundation, Justin Sun finally had the much-awaited dinner with CEO of Berkshire Hathaway Warren Buffett for which he paid a whopping amount of $4.5 million. The TRON Foundation made an official announcement on Thursday about the dinner held on January 23 in a private club of Omaha, Nebraska. Sun and Buffet discussed cryptocurrencies, Sun added that he would take Buffett’s advice to make TRON a better ecosystem.

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China’s Ministry of Finance announced on Thursday that the country will halve the retaliatory duties on $75 billion worth of US goods. The new adjustments will take effect from February 14. After the cut, duties on the US oil will be reduced to 2.5% from 5%. The recent move was made to advance the healthy and stable development of China-U.S relations.

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Tesla shares have skyrocketed after an influential US analyst predicted that the company could transform the global market. The shares went up by around 40% although some have voiced doubts regarding the analyst's predictions. These predictions say that even in its worst-case scenario, the company will sell 3.2 million cars by 2024.

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Nike has released a new version of its Alphaflight prototype shoe, claiming that this version complies with the new World Athletics rules. The prototypes were worn by Eliud Kipchoge, who became the first person to run a marathon in under two hours. Nike has said that it will continue its dialogue with World Athletics regarding the new regulations.

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The cryptocurrency market started February with a bullish move as the overall market cap rose from $255 billion to $267 billion is less than 24 hours, according to the data available on coinmarketcap.com. Bitcoin, the leading cryptocurrency in the world jumped above $9500 on Wednesday with Ethereum targeting the price level of $200. Analysts expect the current bullish rally to continue due to strong fundamentals.

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Tesla stock gained another 17 percent to complete phenomenal gains of 40 percent over the last two days to reach near $900 per share, bringing the company's market capitalization up to 164 billion USD, far more than the total value of all three US carmakers General Motors, Fiat Chrysler and Ford, combined at 104 billion USD, with Wall Street analysts predicting $1 trillion valuation for the company in future

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Disney CEO Bob Iger has announced that the company's new streaming service, Disney+, has gained a larger subscriber count than the company's own highest estimate. The platform quadrupled Disney's direct to consumer earnings although he declined to say how long it would take the platform to turn a profit. Some are estimating 2024 due to its high costs.

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Tesla stock has gained more than 100% in just one month and the company is now looking for expansion as the Artificial Intelligence department is hiring. Elon Musk said in a recent tweet that “If you have a deep understanding of Artificial Intelligence, your education background is irrelevant” he further mentioned that “ I don’t care if you even graduated high school”

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Electric car manufacturer Tesla's stock rose 20 percent following partner company Panasonic's publication of improved profits for the last quarter. Panasonic provides batteries for Tesla's cars and has collaborated with the firm on a 1.6 billion USD Gigafactory in 2014 in Nevada to manufacture batteries exclusively for Tesla's electric cars. Tesla's stock gain marks a 300 percent increase in value since June 2019.

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Chinese tech giants Huawei Technologies Co Ltd and ZTE Corp have requested the US administration to reconsider its designation of the companies as national security risks. The Federal Communications Commission unanimously voted in favor of the designation in November and is further considering requiring domestic telecom companies to replace any current Huawei and ZTE equipment.

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The Chinese government has protested the travel ban instituted by the US due to the spread of Coronavirus as unreasonable, blaming the country's policy for a steep decline in Chinese stock markets, with stocks down 8 percent and Chinese commodities hitting their maximum downward limits for the day, while the yuan tumbled to its lowest value since August 2019.

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As the coronavirus continues to spread in China, the local markets have begun to plunge. Chinese stock prices have been going down, despite the best efforts from the government to keep them afloat. A large number of cities in the country are still under lockdown and many businesses have not reopened due to the virus.

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Sandeep Mathrani, a real estate executive who served as Brookfield Properties' CEO and has extensive experience in the industry, has been tapped as CEO after WeWork's co-founder Adam Neumann left the company in November, facing criticism due to unreliable management. Marcelo Claure will remain as executive chairman of the board.

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Facebook creator and CEO Mark Zuckerberg has announced that the social media giant will stand for things like freedom of expression and encryption, even if it upsets a large number of people. He made this announcement in response to an increasing number of calls for censorship on the platform, saying that he had to 'draw the line somewhere'.

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In its fourth quarterly report for 2019, Amazon revealed that a landmark 150 million users have now subscribed to its Prime service, with more people joining Prime in 2019's last quarter than in any other time in the company's history, which has led to a successful holiday shopping season for the retail giant, which remains one of the most valuable companies in the world.

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Tesla reported its second consecutive quarterly profit in the fourth quarter of 2019, after years of losses and production woes. With the company beating deadlines for production of its new model Y and promising more than 500,000 units in production for 2020, investor confidence in Tesla has increased, improving its stock price by 13 percent.

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Sideshow, a company specializing in manufacturing life-size and accurate versions of popular items, recently announced that their life-size and life-like Baby Yoda figurine was available for pre-order, with their website almost immediately crashing after the announcement due to the number of pre-ordering users. The figurine costs 350 USD, with an allowance for payment plans, and will be delivered to customers between August and October 2020.

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Facebook has announced that it will not be experiencing the same astronomical growth it was seeing in recent years. Its revenue growth has slowed down and it is still operating under incredibly high costs. This slowdown is partially due to the changes in privacy regulations across the globe. It has also had to settle multiple very large law suits recently.

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Tesla has announced that it will be shutting down its Shanghai factory due to the spread of the Coronavirus and that it will reopen once the situation is under control. This closure will delay the production of the model 3 and will lower the company's profits for the first quarter.

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UK prime minister Boris Johnson's government has announced, despite advice to the contrary by US President Donald Trump's administration, that Chinese telecom giant Huawei will be granted a role in the country's growing 5G network, with some restrictions. The decision comes as 3 out of the UK's 4 telecom providers have already signed agreements with Huawei, making the Chinese company's involvement inevitable.

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According to some insider sources, Netflix has decided to shift its marketing strategy, now marketing itself as a service instead of just marketing the individual shows that it features. To coincide with this big change, the company is expected to fire around 15 employees, although some say that the number could be even higher.

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Airbus, Europe's largest planemaker, has agreed to a settlement with the British, French and American governments due to allegations of corruption and bribery. The company was also accused of violating the U.S. International Traffic in Arms Regulations. It is currently unknown if the company will face any other penalties or what the settlement amount is.

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Asian stock markets suffered a sharp downturn today as the deaths and infections from China's Coronavirus keep rising. Australian shares declined 1.3 percent, while South Korean stocks declined by 3 percent, with Chinese stocks hit the hardest by a 4 percent decline. Investors are reportedly worried about the economic fallout from the virus and pulling money out of state bonds.

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Tech giant Google's parent company Alphabet recently crossed the 1 trillion USD mark in market capitalization, becoming only the third company in US history to do so, joining the ranks of Apple Inc and Microsoft Corp in what is called the Four-Comma Club of the country's most valuable companies. Amazon is the next closest in line at 935 billion USD, having crossed the trillion USD boundary briefly in 2018.

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New York-based facial recognition startup Clearview AI, already under criticism for false advertising regarding the accuracy of its technology and falsely claiming involvement with the NYPD police's investigations, may now face legal action after a New York Times reporter presented evidence that Clearview AI used their app to identify and engage police officers who were speaking with journalists about their company.

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