The fast-spreading Delta strain of coronavirus depressed consumer spending in the third quarter of the year, causing US economic growth to stall considerably. In the three months to September, the economy grew at an annualized pace of barely 2 per cent, compared to 6.7 per cent in the preceding quarter. This slowdown occurred at a…
While showering praises for Elon Musk’s Tesla, the CEO of Volkswagen Group also welcomed the idea that the two companies would compete in the future. After being requested by the German automaker’s CEO, Herbert Diess, Musk spoke to VW officials via video conference earlier this month. Musk’s presence was verified by Diess on Twitter and…
Higher-than-expected third-quarter ad sales were reported by Alphabet Inc, the parent company of Google, indicating that the company is overcoming new limitations on tracking mobile users and that online shopping remains as popular as ever as the holiday season approaches. Google sells more internet ads than any other company, thanks to its search engine, YouTube…
According to the Hong Kong-based daily newspaper – South China Morning Post (SCMP), Alibaba Group founder Jack Ma has been touring Dutch research institutions to further his interests in farm technologies. The report quoted sources with knowledge of the matter. Since publicly criticizing China’s regulatory structure in a speech last year, the Chinese billionaire has…
Growth in volume driven by a rebound in travel and a better global economic scenario helped the largest payment processor of the world, Visa Inc, to report a quarterly profit that surpassed Wall Street projections. Despite this Visa said that the level of cross-border travel was still much lower than the levels from before the…
Despite clocking lower revenue and profit, American automaker General Motors (GM) posted better than expected results for the third quarter while also predicting that its earnings for the full year of 2021 would be at the high end of its earlier estimates. The global semiconductor scarcity caused the company’s adjusted earnings per share to fall…
A rebound in its jet-engine businesshelpedGeneral Electric Co to report quarterly profits that beat market’s expectations and prompted the company to announce an upward revision to its full-year earnings forecast on Tuesday. However, the industrial conglomerate also issued a warning that it faced a “challenging” operating environment due to the acute issues in the global…
General Motors had pledged to invest $750 million to increase its presence in the very fast growing electric vehicle sector and as a part of this plan, the company will install up to 40,000 electric-vehicle charging stations in the United States and Canada, the company said on Tuesday. It was just a few months ago…
With the global semiconductor crisis slowing down vehicle production and consequently sales, Hyundai Motor Co. of South Korea marginally missed analysts’ profit projections for its latest completed quarter. While announcing the quarterly results, the company also said that it expected it will take a long time for the global chip supply shortage to normalize. A…
Its highest quarterly profits since 2015 were reported by UBS on Tuesday driven by a 23 per cent growth in its fee income from the ultra-rich of the world. The unexpectedly strong income follows four quarters of the bank reporting double-digit percentage net profit growth and comes at a time when fresh plans for its…
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