Alef Aeronautics is in the early stages of developing a vehicle that it hopes will drive on and fly over roads It is a rare exception in the competitive field of electric vertical take-off and landing (eVTOL) aircraft, which, although often called “flying cars,” are not intended for ground operation.”eVTOLs are largely electric helicopters. We're trying to build a vehicle that can take off vertically and fly efficiently,” Jim Duchovny, co-founder and CEO of Alef Aeronautics, told CNBC Tech: The Edge in an interview.In 2015, the Alef team met for the first time in a café, where Dukhovny wrote down…
Author: ricardofrancois
US Treasury Secretary Janet Yellen, center, waits with others to greet Chinese President Xi Jinping at San Francisco International Airport on November 14, 2023, ahead of Xi's meeting with US President Joe Biden.Bloomberg | Bloomberg | Getty ImagesBEIJING – US Treasury Secretary Janet Yellen is scheduled to arrive in China on Thursday, before four full days of meetings with Chinese officials.This is her second trip to the country since the summer, as the United States and China seek to increase high-level contacts in a tense relationship. US Secretary of State Antony Blinken is also scheduled to visit China again later…
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With them tied for second place, three Democrats appear headed to the ballot in November in the race for a congressional seat in Silicon Valley. This highly unusual situation comes after weeks of uncertainty, with runner-up Santa Clara County Supervisor Joe Simitian and Assemblyman Evan Low of Campbell repeatedly swapping positions, often separated by just one or two votes. They appear to have finished the race with 30,249 votes each. Former San Jose Mayor Sam Liccardo maintained his first-place lead since the primary, securing his place on the November ballot by more than 38,000 votes. “It was like watching a…
In one of the largest cash heists in Los Angeles history, thieves stole up to $30 million in a robbery at a San Fernando Valley money storage facility on Easter Sunday, a Los Angeles Police official revealed on Wednesday.The robbery occurred Sunday night at an unnamed facility in Sylmar where cash from businesses around the area is handled and stored, according to Los Angeles Police Department Cmdr. Eileen Morales. Morales said the thieves were able to penetrate the building as well as the safe in which the money was stored. Law enforcement sources said the robbery was among the largest…
Washington – Peter Shea, who championed immigrant rights for decades as a Los Angeles attorney and led the case that overturned Proposition 187, the controversial initiative to deny government services to undocumented immigrants, died of complications from lymphoma on Tuesday at age 77. Shea, founder and executive director of the Center for Human Rights and Constitutional Law, has led class actions on behalf of immigrants related to access to public education, medical care, and the well-being of unaccompanied minors. Born in South Africa to parents who fled Germany — his father was a Jewish anti-Nazi agitator — Shi moved to…
High-rise buildings are illuminated at night in the West Coast New Area in Qingdao, east China's Shandong Province, on March 22, 2024. norphoto | norphoto | Getty ImagesBEIJING — China's real estate woes are likely far from over, and the industry's woes must be addressed quickly if overall gross domestic product (GDP) growth is to rebound significantly, according to a report released Thursday by global investment firm KKR.That's one of two key takeaways from the recent trip to China by the firm's head of global asset allocation and macro, Henry McPhee. This was his fourth visit in just over a…
Levi Strausswhich has long relied on wholesalers such as Messi And Cole To drive its business, it now makes nearly half of its sales through its website and stores, the company said Wednesday when announcing fiscal first-quarter earnings. In the three months ended Feb. 25, direct-to-consumer sales accounted for a record 48% of total sales at Levi's, up from 42% in the same period last year and up 25% on a two-year basis, the retailer said. He said The shift is a boon to Levi's earnings. But it raises questions about the company's relationships with its wholesale partners and whether…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Goldman Sachs is set to reveal a widening gender pay gap at its UK operations in 2023, according to people familiar with the matter, underscoring how the Wall Street bank has struggled to promote more women to senior positions. The average hourly pay differential between men and women at Goldman Sachs International, its main UK entity, rose from 53.2 per cent in 2022 to 54 per cent in 2023, the highest level in the past six years, the people said. . At…
New York – US stocks rose on Wednesday, a day after their worst decline in weeks.The Standard & Poor's 500 index rose 5.68 points, or 0.1%, to 5,211.49 points. The Dow Jones Industrial Average fell 43.10 points, or 0.1%, to 39,127.14 points, and the Nasdaq Composite Index increased 37.01 points, or 0.2%, to 16,277.46 points.GE Aerospace helped lead the S&P 500 with a 6.7% jump. It was the company's second day of trading after it spun off its power and energy businesses, marking the end of the General Electric conglomerate. Cal-Maine Foods rose 3.6% after reporting stronger-than-expected fourth-quarter earnings by…