Philips shares fell more than 11 per cent on Wednesday morning after the Dutch health technology giant raised the cost of its major ventilator recall and warned that worldwide supply chain constraints would hurt earnings. As it continued to struggle for memory chips and other supplies, the hospital equipment and personal health device supplier said it…
An assertive driving mode has been added to Tesla’s automatic driver assist technology. The setting will drive more closely behind other vehicles, change lanes more frequently, avoid leaving the overtaking lane, and conduct rolling stops. Human driver behavior like this is frequently criticized by safety organizations. One automotive safety expert, however, believes that it is…
The German auto giant Volkswagen AG expects to increase the sale of its ID battery electric vehicles in China by two times this year, the company said, and added that it wants to perform even better next year. it however also cautioned that a global scarcity of semiconductors could stymie the automaker’s expectations on performance.…
Reports of a new suspected Covid-19 mutation, termed “deltacron,” that is apparently considered to be a combination of characteristics of both the delta and omicron variants, are being questioned by global health experts, who believe that the so-called “strain” is more likely the consequence of a lab processing error. The probable new variety was discovered by a researcher in…
According to reports quoting sources, Amazon.com Inc has lodged new legal challenges in its long-running battle with Indian retailer Future Group following the national antitrust commission suspending a 2019 deal between the two parties, which put a halt to their arbitration. Last month, the Competition Commission of India (CCI) put a hold on Amazon’s 2019 contract with Future, putting a stop…
Even as the mainstream auto companies all around the world struggled to cope up with the global shortage of semiconductors and issues with their global supply chains, the luxury car maker Bentley Motors reported selling a record number of its luxury sedans and SUVs last year, the carmaker which is now 102 years old said…
A “very tight” labor market and unchecked inflation could force the United States Federal Reserve to raise interest rates sooner than expected and begin decreasing its overall asset holdings as a second economic brake, policymakers at the US central bank said last month. The minutes from the Fed’s Dec. 14-15 policy meeting, which were released on…
Members of the Starlink satellite internet venture, which is backed by the billionaire entrepreneur Elon Musk, were informed by the company that it had been directed by the Indian government to refund all its pre-orders from the country till such time that a license to operate in the country is granted to it. , “As…
Services and repair work for the once one of its king business smartphones that were proudly exhibited by executives, politicians and millions of its fans worldwide in the early 2000s is being finally brought to an end by BlackBerry Ltd. This announcement heralded the end of an era as the concept of email and the…
A growth of 12.1 per cent in the global sale of cars of South Korea’s Hyundai Motor Co and affiliate Kia Corp would be registered by the companies in the current year, the two companies said in a statement on Monday. The companies however said that a global shortage of semiconductor chips used in cars…
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