The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
In 2016, Page invested in two flying car start-ups. One of those was Kitty Hawk, which is developing Cora.
Last year, the company released footage of a prototype aircraft that flew over water and was all-electric.
Now the company is pushing forward with making the flying cars a reality. In the video in which Kitty Hawk unveiled Cora, the company said it is working with the New Zealand government to commercialize its air taxis.
Cora is completely autonomous, can travel at 150 kmh (93 mph), and is all-electric with a range of 100 kilometers. It also takes off and lands vertically so doesn't need a runway to operate.
Megan Woods, minister for research, science and innovation for New Zealand, said that Kitty Hawk's Cora fits in with the country's aim of having net zero emissions by 2050.
Kitty Hawk is operating in New Zealand as Zephyr Airworks.
"New Zealand's Central Aviation Authority has the respect of the worldwide regulatory community. A people who embrace the future. And a dynamic economy that could serve as a springboard for Cora," Kitty Hawk explained in a press release Monday.
The company did not give a timeline for when the autonomous taxi service could be running, but Kitty Hawk CEO Sebastian Thrun told CNBC in an interview earlier this year, that they could take to the skies within five years.
New Zealand is seen as being one of the most progressive when it comes to the future of aviation. Dubai in the United Arab Emirates is another place that is looking into the idea of flying taxis.
Kitty Hawk is not the only company developing flying taxis however. Chinese firm EHang is developing an all-electric passenger drone, Airbus launched its first successful flight of its self-piloted flying car in February, and Uber is working with NASA to make its flying vehicle project a reality.