Author: Fortunes Wall

Chinese e-marketplace Temu and fast-fashion retailer Shein will raise prices next week as U.S. President Donald Trump’s sweeping tariffs and crackdown on low-value imports push up costs for the companies known for their budget offerings. In nearly identical letters to customers this week, the two companies said they will be increasing prices starting April 25 and encouraged shoppers to purchase “now at today’s rates”. Shein and Temu, sellers of everything from toys to smartphones, had grown rapidly in the U.S. thanks in part to the “de minimis” exemption that allowed duty-free entry for merchandise priced below $800, enabling the companies…

The Inspiration Behind a Career in Teaching Nilmini Ratwatte’s journey into education was not just a career choice; it was a calling. Inspired by a deep-seated passion for children and an unwavering belief in the power of education, she stepped into the field with the intent to create meaningful change. The two essential qualities she believes every educator must possess are an authentic love for students and the creativity to design lessons that engage all learning styles. Her journey, however, has been anything but conventional. She has faced systemic challenges, ethical violations, and has even gone unpaid for months—yet her…

Donald Trump has said he “couldn’t care less” if carmakers raise prices after his 25% tariffs on foreign-made vehicles comes into effect. Some analysts have warned that Trump’s import charges could lead to the temporary shutdown of some US car production, with increased prices passed onto consumers. But the US president told NBC News on Saturday that he hoped foreign carmakers will raise prices as it meant “people are gonna buy American-made cars – we have plenty”. On Wednesday, Trump announced new 25% tariffs on cars and car parts entering the US to begin on 2 April. Charges on businesses…

Crowds have protested billionaire Elon Musk’s purge of the U.S. government under President Donald Trump outside Tesla dealerships throughout the U.S. and in some cities in Europe SAN FRANCISCO — Protesters against billionaire Elon Musk’s purge of the U.S. government under President Donald Trump demonstrated outside Tesla dealerships throughout the U.S. and in some cities in Europe on Saturday in the latest attempt to dent the fortune of the world’s richest man. The protesters were trying to escalate a movement targeting Tesla dealerships and vehicles in opposition to Musk’s role as the head of the newly created Department of of…

OpenAI and Elon Musk have agreed to fast-track a trial over OpenAI’s for-profit shift, the latest turn in a grudge match between the world’s richest person and OpenAI CEO Sam Altman playing out publicly in court. Billionaire Elon Musk and OpenAI jointly proposed a trial in December, according to a federal court filing on Friday. The parties agreed to delay a decision on whether the expedited case will be decided by a jury or solely by the judge, said the filing in U.S. District Court for the Northern District of California. The judge this month denied Musk’s request to pause…

President Donald Trump signed an executive order on Thursday creating a Strategic BitcoinReserve, marking a major shift in U.S. digital asset policy. White House Crypto and AI Czar David Sacks, a Silicon Valley venture capitalist, wrote in a post on X that the reserve will be funded exclusively with bitcoin seized in criminal and civil forfeiture cases, ensuring that taxpayers bear no financial burden. According to estimates, the U.S. government controls approximately 200,000 bitcoin, though no full audit has ever been conducted. Trump’s order mandates a comprehensive accounting of federal digital asset holdings and prohibits the sale of bitcoin from…

The GPU chipmaker has become one of the most closely watched companies in the world as a barometer for AI investment — and the broader stock market. Rarely has a single company’s earnings report been so closely watched by Wall Street as a make-or-break moment for the broader market. Nvidia, the chipmaker whose central role in the global artificial intelligence arms race has turned it into one of the world’s most valuable companies, reported its much-anticipated quarterly results Wednesday. It posted $39.3 billion in revenue, up a hefty 78% for the quarter that ended in January and ahead of analysts’…

Megacap technology companies funneled billions of dollars into artificial intelligence last year to try and keep up with unfettered demand. The hype isn’t dying down in 2025. Meta, Amazon, Alphabet and Microsoft intend to spend as much as $320 billion combined on AI technologies and datacenter buildouts in 2025, based on comments from their CEOs early this year and throughout earnings calls in the past two weeks. That’s up from $230 billion in total capital expenditures in 2024. Tech companies have already poured many billions of dollars into AI projects since ChatGPT’s 2022 debut, as they race to expand data…

GOTHENBURG, Feb 3 (Reuters) – Hemanth Mandapati, boss of German startup Novo AI, was an early adopter of DeepSeek chatbots when he switched to the Chinese AI model from OpenAI’s ChatGPT two weeks ago. “If you have built your application using OpenAI, you can easily migrate to the other ones … it took us minutes to switch,” he said in an interview on the sidelines of the GoWest conference for venture capitalists in Gothenburg, Sweden. DeepSeek’s emergence is changing the landscape for AI, offering companies access to the technology at a fraction of the cost, according to interviews with more…

As European automakers brace for a possible trade war waged by President Donald Trump, they are working to ward off another threat on their home turf: the prospect of paying hundreds of millions of dollars to Tesla and Chinese competitors muscling in on their core markets. Under stricter European Union regulations taking effect this year, automakers selling cars in Europe face hefty penalties if their vehicle production fails to meet tough targets for reducing carbon emissions. With demand for electric cars in Europe slumping and manufacturers squeezed by competition from China, automakers, politicians and industry groups are lobbying for relief.…