The news is likely to add to investor worries as it comes in the wake of Apple reducing its sales forecast for its smartphones. Slowing demand in China has had a significant impact on Samsung Electronics Co Ltd, with the South Korean conglomerate set to post its first drop in quarterly operating profits in two…
Tesla’s Shanghai Gigafactory is of strategic importance to the electric carmaker given that Chinese authorities are aiming to have only EVs plying around in the country by 2030. On Monday, Tesla Inc’s CEO, Elon Musk stated, the electric carmaker will break ground for its Shanghai Gigafactory where it will commence the production of its mass…
A block buster and record making merger has been announced by two of the biggest drug companies of the United States. Drug maker Celgene would be taken over by Bristol-Myers Squibb in a cash and stock deal including debt and the value of the deal as announced is worth about between $74bn and $90bn. The…
According to documents filed at the Dutch chamber of commerce, an arrangement that allows Google to reduce its foreign tax liability was used by the US tech company to move €19.9bn ($22.7bn) to Bermuda in 2017 through a Dutch shell company. The documents, filed on 21 December, showed that the amount of money that was…
According to information available from US authorities, three former employees of Swiss investment bank Credit Suisse have been arrested over charges of their role in in a $2bn fraud scheme wihch was linked to companies in Mozambique. While the men were arrested and them released on bail in London, US authorities have sought extradition of…
According to the US Artherton Research, US electric automaker Tesla Inc has for the first time sold more vehicles than BMW and Lexus in a quarter. Tesla has been able to end the year well despite legal and financial struggles and was well ahead of its rivals in the U.S. premium automotive market including names…
Tesla’s Gigafactory in Shanghai will play a significant role as it battles a swatch of Chinese domestic rivals in the new age vehicle market. On Friday, U.S. electric carmaker Tesla Inc stated, it plans to start the delivery of its Model 3 sedan to customers in China in March 2019, thus cementing a time frame…
Norway is pushing to end the sales of fossil-fuel powered vehicles by 2025. In a development that underscores the real potential of the EV market, nearly a third of all new cars sold in Norway in 2018 were pure electric. This new world record and milestone comes as Norway strives to end sales of…
Subscribers will be able to watch the content using Roku’s mobile application – a first for Roku. Roku Inc will now offer premium video contents, alongside its free ones, to its subscribers for a fee, said the video streaming service in a statement. This will include premium channels from Lionsgate-owned Starz, CBS Corp’s Showtime, Noggin…
Qatar will be Microsoft’s foothold in the Gulf for expanding its Azure cloud platform in the Middle East. Qatar’s state news agency QNA has reported that Doha’s cabinet has approved the establishment of a Microsoft global data center in the country. In 2018, Microsoft had announced plans to expand its Azure, cloud platform to the…
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