BUSINESS

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As the Apple consumer community  eagerly awaits for the highly anticipated iPhone 16 launch, Chinese tech giant Huawei has stolen some of the spotlight with its own groundbreaking smartphone offering. According to Huawei's website, the company has already racked up a staggering 3 million preorders for its new Mate XT tri-fold smartphone, underscoring its fierce determination to stay competitive in the cutthroat global smartphone market.

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German automotive giant Volkswagen said Monday it could close production sites in Germany, as the auto industry struggles to manage rising costs.

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Swedish car company Volvo has said that it has given up it's plan to sell only fully electric cars by 2030, saying it now expects to be selling some hybrid vehicles by that date. The carmaker blamed changing market conditions for its decision to give up a target it had announced only three years ago.

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In a landmark operation, the Vietnamese government, in collaboration with the Alliance for Creativity and Entertainment (ACE), has dismantled what is being described as the world’s largest pirate streaming network. The crackdown led to the shutdown of the notorious Fmovies site and its associated domains, which collectively garnered over 6.7 billion visits between January 2023 and June 2024. This takedown represents a significant victory in the ongoing battle against digital piracy.

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After an engine fire on a Cathay Pacific aircraft, the European Union's aviation safety agency (EASA) said Thursday it will require the inspection of at least some of the Airbus A350s in operation.

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AI chip giant Nvidia has recorded a fall in shares despite the company comfortably beating expectations after more than doubling its sales. Nvidia announced record revenues of $30bn (£24.7bn) over a three-month period.

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China has announced an investigation into Canadian canola imports, escalating an ongoing trade conflict between the two nations. The probe, which could result in tariffs on one of Canada's key exports, was initiated just a week after Canada imposed new tariffs on Chinese-made electric vehicles (EVs), steel, and aluminum. This latest development marks another chapter in the growing tensions between the two countries as they engage in tit-for-tat trade measures.

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Lip-Bu Tan, a prominent semiconductor industry veteran, has resigned from Intel's board, citing personal reasons and a need to "reprioritize various commitments." However, sources close to the situation reveal that his departure was fueled by differences with Intel's CEO, Pat Gelsinger, and other directors over the company's workforce size, risk-averse culture, and lagging artificial intelligence (AI) strategy.