On Tuesday, cryptocurrencies extended their gains with Ethereum and Bitcoin reaching record highs; the development comes in the wake of Tesla investing $1.5 billion in bitcoin. Bitcoin posted its biggest daily percentage gain in more than three years overnight following Tesla Inc’s disclosure of its investment in the bitcoin in its 2020 annual report. On…
Rolls Royce is planning a closure of its jet engine making factories for civil aircraft for a period of two weeks in order to reduce losses. With lesser number of jets in the air because of the Cvoid-19 pandemic also meant less service and consequently a drop in sale revenues for the engineering giant. According…
A global shortage crucial semiconductors has forced car makers Renault and Stellantis to announce suspension of car production at a number of their factories, the two companies have announced. There has been a shortage of chips used in engine management and driver-assistance systems of cars which has severely hit production of car makers all across…
On Monday, in a report Japan’s the Nikkei business daily said, Mitsubishi Corp is set to enter into an agreement to “provide Amazon.com Inc’s European facilities with renewable energy through its Dutch unit, Eneco”. An offshore wind farm which is being built by Eneco is scheduled to come online in 2023; it will supply 130…
On Monday, Japan’s Renesas Electronics Corp stated, it is in talks to acquire British-based Dialog Semiconductor in a deal that is likely to bolster its automotive chip business and value it around $6 billion. Under the terms of the potential deal, Renesas would pay 67.50 euros a share for Frankfurt-listed Dialog, said Renesas in a…
Only limited protection against mild disease caused by the South African variant of the novel coronavirus was exhibited by the Cvoid-19 vaccine developed by AstraZeneca and the University of Oxford, said a spokesman for the British drug maker. This statement from the firm was issued following a report published in the Financial Times where it…
Nvidia’s $40 billion acquisition of Arm Holdings has been objected by Microsoft-backed Graphcore, according ot reports quoting a crucial member of the British chipmaker’s early development. Graphcore has opposed the deal in a “major submission” to the U.K.’s Competition and Markets Authority, said Hermann Hauser, who had helped to create Arm in 1990, in a…
After having gained about 200 million subscribers, and cementing its position as the leader in the streaming video industry, Netflix is now making a big push to grow further in its fastest-growing region – Asia. In 2020, 9.3 million paid subscribers were added in Asia Pacific which was 65 per cent more than in the…
An advert of a businessman designed to encourage black and Asian people to get the Covid-19 vaccine was rejected by Facebook for which the social media company has apologised. The aim of placing the advert by Wilfred Emmanuel-Jones was raising awareness about the importance of being vaccinated and the content contained a picture of him…
A new regulatory filing from China’s State Administration for Market Regulation shows that the United States based electric car maker Tesla has extended a significant recall of its vehicles in its home market to China. The company which was founded by billionaire Elon Musk will be recalling as many as 36,126 Model S and Model…
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