On Thursday, in a joint statement, South Korea’s Hyundai Group and its sister firm Kia Motors Corp stated, they are backing a UK electric vehicle startup that plans on selling battery-powered delivery vans in 2021. They plan on investing $110 million (100 million euros) in Uk-based Arrival Ltd. Founded in 2015, London-based Arrival has developed…
On Wednesday, two sources stated, the U.S. government is nearing the publication of a rule that would significantly expand its powers to block shipments of foreign-made goods to Huawei. The development comes in the wake of the U.S. Commerce Department placing Huawei Technologies Co Ltd on a trade blacklist in May 2019, citing national security…
On Wednesday, Amazon’s founder and CEO Jeff Bezos said, the world’s largest online retailer will invest $1 billion in digitizing small and medium sized businesses in India and expects to export $10 billion worth of India-made goods by 2025. Speaking at a company event in New Delhi, Bezos opined the 21st century is “going to…
On Wednesday, Hyundai Motor Co unveiled its first sport-utility vehicle (SUV) under its Genesis brand in a move aimed at increasing its footprint in overseas markets, said analysts. Genesis, spun off in 2015, is an initiative of Hyundai Motor Group heir-apparent Euisun Chung, is aimed at revamping Hyundai’s image as an automaker which makes cost…
As per a report from the Guardian Newspaper, officials from the U.S. government have provided the British government with additional newer evidence concerning the risks of involving Huawei in developing its future 5G mobile networks. Ahead of Britain’s decision to include Huawei in developing its 5G networks, officials from both countries exchanged views on whether…
In a statement Visa Inc said, it has agreed to acquire privately held fintech startup Plaid Inc for $5.3 billion. The deal will increase Visa’s footprint in the booming fintech space. The deal underscores how traditional financial companies are willing to pay top dollar to acquire businesses which have established strong positions in the cashless…
Boeing needs to better its corporate culture and amend its business, said that the company’s new CEO Dave Calhoun. A pledge to listen to employees, customers and regulators was given by Calhoun in a letter to the employees of the company after he started at his new role as the CEO of the company starting…
A deal that it had entered into for developing a huge coal mine in Australia will be completed by it, said the German engineering giant Siemens, even as it faced protests on the issue by climate activists. The open cast mine under scrutiny is owned by India’s Adani group and is located in Queensland. It…
According to news report published in Japan, there are concerns at the Japanese auto major Nissan that its relationship with the French auto giant Renault have turned dysfunctional following the arrest and ouster of Carlos Ghosn, the boss of both the companies, and as such executives at the Japanese company have contemplated the potential of…
As per a report from the Sunday Times, the U.S. government is planning on permanently bringing a stop to its civilian drone program due to the drones being, at least partly, manufactured in China. The FT reported citing two sources briefed on the plans as saying, the U.S. Department of the Interior is weighing its…
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