LG Energy Solution Faces Profit Decline Amid Global EV Slowdown

The Seoul-based company revealed a stark 58% decline in operating profit for the quarter ending June 30, amounting to 195.3 billion won ($141 million). This figure fell short of analyst expectations, which had projected earnings of 282 billion won, according to data compiled by Bloomberg. Exacerbating the situation, LG Energy Solution posted an operating loss of 252.5 billion won when…

Samsung Stock Hits Three-Year High on 15-Fold Profit Surge

Samsung Electronics Co. has reported its fastest pace of sales and profit growth in years, driven by a rebound in memory chip demand amid accelerating global AI development. The world's largest maker of memory chips and smartphones posted a remarkable 15-fold increase in operating profit to 10.4 trillion won ($7.5 billion) for the June quarter, surpassing analysts’ projections. Sales surged…

AI Drives 48% Increase in Google Emissions

Google's greenhouse gas emissions in 2023 were 48% higher than in 2019, according to its latest environmental report. The tech giant attributes this surge to the escalating energy needs of its data centers, driven by the explosive growth of artificial intelligence (AI). AI-powered services require significantly more computer power—and consequently, electricity—than standard online activities. This has prompted numerous warnings about…