Ford Motor lowers its EV battery plant ambitions in Michigan. Low and slow consumer demand for electric vehicles and rising labor costs prompted the company to scale back plans for the $3.5 billion battery plant and cut costs. In February, Ford executives CEO Jim Farley and Chair Bill Ford announced the company’s battery factor plans. …
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Amazon Web Services (AWS) has inked a pivotal agreement with two key stakeholders in the nation’s space sector – the Indian Space Research Organization (ISRO) and the Indian National Space Promotion and Authorization Centre (IN-SPACe). The underlying ethos of this partnership is to infuse the vast capabilities of cloud computing into the world of space …
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Birmingham, Britain’s second-largest city, declared bankruptcy on Tuesday. The announcement was followed by a notice to suspend all non-essential spending after being charged equal pay claims of £760 million (around $954 million). The city joins other UK councils like Thurrock, Northamptonshire, Slough, Woking, and Croydon in declaring bankruptcy. However, unlike other city councils that increased …
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According to the European Automobile Manufacturers Association (ACEA), over a fifth of cars sold in the European Union were fully electric vehicles. Fully electric models accounted for 21% of the sales in the EU, making it the first time EVs constituted over a fifth of total sales in the union, despite being a slow number …
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Los Alamos National Laboratory researchers have made a breakthrough in the digital landscape by developing a new machine-learning algorithm. The algorithm can identify key characteristics of large datasets and factorize them into manageable batches. Its ability to resolve hardware bottlenecks by processing datasets surpassing a computer’s available memory, as evidenced by the test run on …
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Amazon established its biggest last-mile delivery center and inaugurated the warehouse on Thursday in Mexico City. The e-commerce giant aims to provide fast deliveries in one of Latin America’s most densely populated cities. After launching in Mexico in 2015 and investing 52 billion pesos (around $3 billion) in expanding its consumer base to Latin America’s …
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Infosys, one of India’s biggest tech firms, signed a $1.5 billion contract with a “global company” to use the company’s artificial intelligence (AI) solutions and platforms for a 15-year period. According to the deal, Infosys will leverage the company’s AI solutions to deliver world-class business services and digital experiences. “Infosys has entered into a memorandum …
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The European Commission has sanctioned a significant €8.1 billion (approximately $8.7 billion) in state aid to spearhead cutting-edge technological advancements. This mammoth investment is primarily earmarked for the burgeoning sectors of microelectronics and communication technologies, which are viewed as cornerstones for Europe’s technological future. Amid a rapidly evolving global tech landscape, this latest move underscores …
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Adobe on Wednesday expanded its catalog with new generative artificial intelligence (AI) features and made them accessible to users. The company also announced plans to increase prices and pay contributors who contributed to developing and rolling out the AI features. The American software company released Firefly, its collection of generative AI tools and models, with …
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India has suspended visa services for Canadian citizens, citing concerns over “security threats” to its diplomats stationed in Canada. This drastic move is the latest in contentious developments between the two nations. Suspension of Visa Services On September 21, 2023, BLS International, the firm responsible for processing Indian visa applications in Canada, released an official …
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The enterprise tech world is evolving with newer ambitions. While the wings of innovation are spreading to newer skies, the technologists are finding it hard to play catch-up and are making sure they are in tune with the technology juggernaut. CIOCoverage aims to bridge this very gap that exists between the tech-savvy where he rests, in the very heart of it. Awakening a keen insight in you to move along the flow, CIOCoverage works to make the entrepreneurs, versatile to the sturdy technological influences.
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