SpaceX Loses Contact with Starlink Satellite After In-Orbit Mishap SpaceX confirmed on Wednesday that one of its Starlink satellites experienced a malfunction in orbit, creating debris and severing communications with the spacecraft — a rare incident for the company’s vast satellite internet network. The event, which occurred at an altitude of 418 kilometres, has prompted close monitoring by U.S. space agencies. In a post on X, SpaceX said the satellite “is largely intact, tumbling, and will reenter the Earth’s atmosphere and fully demise within weeks.” The company added that it was working with the U.S. Space Force and NASA to…
Author: Kanika Sharma
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Wall Street Rises as Soft Inflation AI Data Boosts Rate-Cut Hopes Wall Street’s major indexes ended higher on Thursday, lifted by renewed optimism that the Federal Reserve may begin cutting interest rates early next year following a softer inflation reading. Strong earnings guidance from chipmaker Micron Technology also fuelled gains across the technology sector, highlighting robust demand linked to artificial intelligence. The Consumer Price Index (CPI) report showed that annual consumer price growth slowed more than expected in November. The U.S. Bureau of Labor Statistics did not publish monthly CPI data because a 43-day government shutdown halted the collection of…
Trump Signs Order to Return Americans to the Moon by 2028 and Strengthen Space Defence President Donald Trump has formalised the United States’ ambition to send astronauts back to the Moon by 2028 and bolster defences against space-based threats. The directives were outlined in a sweeping executive order issued on Thursday, marking the administration’s first major space policy action of Trump’s second term. The order was announced only hours after billionaire private astronaut and former SpaceX customer Jared Isaacman was sworn in as NASA’s 15th administrator. It also restructured how national space policy is coordinated, placing oversight under Trump’s chief…
Micron Shares Surge on Strong Profit Outlook and AI Chip Demand Micron Technology’s shares jumped 9% in premarket trading on Thursday after the U.S. chipmaker issued a bullish quarterly profit forecast, highlighting its growing dominance in the high-bandwidth memory (HBM) chip market as prices soar. Market Leadership Amid Rising Demand Micron is among only three key suppliers of HBM chips, alongside South Korea’s Samsung and SK Hynix. These advanced chips play a vital role in training and deploying generative artificial intelligence (AI) models, driving unprecedented demand from data centres worldwide. The company projected a second-quarter adjusted profit nearly twice what…
Roblox Offers to Modify Features in Russia to Regain Access U.S. gaming platform Roblox has expressed its willingness to modify certain features in Russia, as it seeks to overturn a government-imposed ban that came into effect earlier this month. The platform was blocked by Russia’s communications watchdog, Roskomnadzor, on 3 December over concerns about child safety. Roblox Engages in Talks with Russian Watchdog Roskomnadzor said on Wednesday that Roblox had contacted the agency and showed readiness to comply with Russian legal requirements. “If this isn’t just a statement, but a genuine willingness to change its approach to ensuring children’s safety…
Ford Takes $19.5 Billion Charge as It Scales Back Electric Vehicle Plans Ford Motor Co. has announced a $19.5 billion charge linked to its electric vehicle (EV) investments, marking one of the most significant retreats yet from the auto industry’s earlier enthusiasm for electrification. The decision underscores a strategic shift toward conventional petrol and hybrid vehicles, aligning production more closely with current U.S. consumer preferences. Details of the Financial Charge According to Ford, around $8.5 billion of the total charge stems from costs related to scrapping several long-planned EV projects, including a large electric pickup truck once slated for production…
Korea Zinc Unveils $7.4 Billion U.S.-Backed Smelter Project to Cut China Reliance Korea Zinc, the world’s largest zinc smelter, announced on Monday a $7.4 billion project to build a major smelting and critical minerals processing plant in the United States. The development, which will receive substantial backing from the U.S. government, underscores Washington’s push to secure supply chains and lessen dependence on China for essential minerals. U.S. Government Takes Stake Through Joint Venture As part of the deal, Korea Zinc will issue $1.9 billion worth of new shares to a joint venture controlled by the U.S. government and U.S.-based strategic…
Investors Weigh SpaceX IPO Risks as Musk Balances Mars Dreams and Starlink Growth Investors anticipating SpaceX’s long-awaited public debut may need to prepare for turbulence, as CEO Elon Musk balances his bold ambitions to reach Mars with the steady growth of Starlink, the company’s lucrative satellite broadband arm. Analysts say the tension between visionary exploration and commercial profitability could shape one of the most closely watched listings in history. Aiming for a $1 Trillion Valuation SpaceX, which revolutionised space travel with reusable rockets and built the global Starlink network, is reportedly targeting a 2026 listing that could raise more than…
Trump Threatens to Cut Broadband Funds Over State AI Regulations U.S. President Donald Trump announced on Thursday that his administration will withhold federal broadband funding from states whose artificial intelligence (AI) regulations are deemed to hinder America’s dominance in the field. Trump said he wanted “one central source of approval” for AI oversight, arguing that differing state laws create unnecessary obstacles for innovation. “To win, United States AI companies must be free to innovate without cumbersome regulation,” the presidential order stated. It noted that varying rules across the 50 states make compliance more complex, particularly for emerging start-ups. Trump has…
Schneider Electric Launches €3.5 Billion Share Buyback and Targets Margin Growth French industrial group Schneider Electric has announced plans to repurchase up to €3.5 billion ($4.1 billion) of its shares by 2030, marking its first buyback in nearly three years. The move underscores the company’s intent to enhance shareholder returns and strengthen investor confidence following a subdued share-price performance this year. Profit Margins Set to Expand Ahead of its Capital Markets Day in London, Schneider Electric said it aims to boost its adjusted earnings before interest, taxes and amortisation (EBITA) margin by 250 basis points between 2026 and 2030. The…