In a significant development U.S.-headquartered digital currency exchange CrossTower has set up a local unit in India and has launched a trading platform to increase its traction in the burgeoning domestic crypto market. The development comes at a time when the fate of cryptocurrency is still unclear in India. CrossTower India has hired 35 people…
On Monday, Oliver Blume, the CEO of luxury sports car maker Porsche AG said, the carmaker is attracting huge demand for its all-electric coupe Taycan model, causing wait times to stretch to up to six months. “Our original production capacity for the Taycan was 20,000 units this year – we’ve sold that many in the…
On Friday, China’s Semiconductor Manufacturing International Corp said, it will invest $8.87 billion to build a chip plant in Shanghai. The development underscores Beijing’s efforts to boost its independence in the chip manufacturing sector. The development comes at a time when global chipmakers are struggling to fulfill orders from the electronics and automotive industries triggering new…
In a statement the CEO of global cryptocurrency exchange Binance said, its U.S. arm could potentially see an initial public offering in the next three years. “Binance.US is just going to do what Coinbase did,” said Zhao. He went on to add, Binance.US is set to close on a large private funding round in the…
On Wednesday, in a statement Royal Dutch Shell announced its plans to significantly expand its network of electric vehicle charging points in Britain. Shell plans on installing 50,000 on-street charging stations by 2025; it plans on implementing its plan through ubitricity, an on-street charging point company that it acquired earlier this year in February. Incidentally,…
Novo Nordisk is facing a shareholder lawsuit in the United States that has moved beyond disappointing clinical trial results to a broader question of corporate disclosure and investor transparency. According to court filings, company statements and people familiar with the case, investors allege that the Danish drugmaker failed to adequately explain key aspects of the…
Procter & Gamble’s weaker sales outlook for the coming fiscal year signals more than a cautious earnings forecast. According to company executives, analysts and people familiar with the consumer goods sector, the revised expectations reflect a broader shift in global consumer spending, where persistent inflation, elevated energy prices and geopolitical uncertainty are forcing even the…
Microsoft’s latest quarterly earnings have become far more than a routine financial event. According to market participants, analysts and people familiar with trading activity, investors are treating the results as one of the most important tests yet of whether the technology industry’s enormous investment in artificial intelligence is beginning to produce measurable financial returns. The…
Apple’s expected strongest June-quarter revenue growth in five years is increasingly being viewed by market analysts as the result of a deliberate pricing strategy rather than a broad recovery in the global consumer electronics market. According to analysts, company executives and people familiar with the industry’s recent developments, Apple’s decision to shield the iPhone from…
Volkswagen’s latest restructuring drive reflects a growing recognition that the competitive pressures confronting Europe’s largest carmaker are no longer confined to China. After years of losing market share in the world’s largest automobile market, the company now faces an equally significant challenge as Chinese manufacturers expand aggressively into Europe with competitively priced electric vehicles, advanced…
The decision by the Danish-flagged tanker *Torm Innovation* to abandon its planned route through the Bab el-Mandeb Strait and instead head towards Asia via the Suez Canal and around the Cape of Good Hope reflects a broader shift taking place across global energy shipping. Rather than being an isolated navigational adjustment, the diversion illustrates how…
For much of the past two decades, Nokia’s name became synonymous with one of the sharpest reversals in corporate history. Once the world’s largest mobile phone manufacturer and the undisputed leader of the global handset market, the Finnish company lost its dominance after failing to respond quickly to the smartphone revolution led by Apple and…
Renault’s modest decline in first-half vehicle sales reflects a much broader transformation underway in the European automotive market. According to company statements, analysts and industry observers, the French automaker’s latest performance demonstrates that traditional European manufacturers are no longer competing primarily against domestic rivals but against a rapidly expanding wave of Chinese electric vehicle brands…
Paramount Skydance’s conditional approval from European Union regulators marks more than another milestone in one of the entertainment industry’s largest mergers. According to regulators, company statements and people familiar with the regulatory process, the decision demonstrates how major media companies are increasingly required to reshape business structures and surrender strategic assets before authorities are willing…
For nearly four decades, Suzuki built one of the most remarkable success stories in the global automobile industry by turning affordable mobility into a dominant business model in India. Through its subsidiary Maruti Suzuki, the Japanese automaker became synonymous with first-time car ownership, consistently commanding close to half of the country’s passenger vehicle market. However,…
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