The supply crunch of semiconductor chips for vehicles at Daimler AG’s truck business, the largest in the world, has become acute further in recent weeks, said the division’s chief executive was quoted as saying in a report published in Frankfurter Allgemeine Sonntagszeitung. “Since the summer months the situation has intensified again,” Martin Daum told the…
New bankers are to hired by Standard Chartered as the lender focuses on sustainable finance, project finance and capital markets in Saudi Arabia which, according to the bank, will turn out to become a “front-runner” for its regional business in coming years. According to a senior executive of the bank, banking services through its branch…
A sudden rise in demand for commercial air travel in domestic markets like the United States has offset the more gloomy industry predictions for a global rebound and has prompted Boeing to revise up its long-term demand forecasts. In recent times, The United States based plane making giant had prepared for meeting the expected growth…
The average starting wage for its workers in the United States has been increased by Amazon.com Inc with payment now of more than $18 an hour. The company also plans to recruit an additional 125,000 to work in its warehouse and transportation departments, said a Reuters report quoting an executive of the company. Since May…
Twitter has rolling out announced a new feature that will allow accounts to identify themselves as bots by adding a label on their profile. Twitter stated that the update was based upon research that revealed that its users wanted greater context on non-human accounts. The company also provided several examples of “good robots”, including accounts…
Kroger Co, the US supermarket chain, reported a drop in its main measure of profitability on Friday. It blamed discounts, wastage, and the significant squeeze on global supply chains as being the causes of the drop in profitability. This plunge sent Kroger’s shares plummeting by 6.4 per cent. US retailers spent more this year on…
Ford Motor Company was one of the first carmakers to enter India’s market after liberalization in 1991. And now it is the latest one to leave the market in terms of local production. According to the American company, it had suffered losses exceeding $ 2 billion over the past 10 years and that approximately 4,000…
In a statement Chevron Corp and Delta Air Lines said, the former plans on producing a test batch of sustainable aviation fuel (SAF) and sell the same to Delta Air Lines at the Los Angeles International Airport, as part of a partnership the companies announced with Google to track SAF test batch emissions data using cloud-based technology.…
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…
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