Toyota Motor Corp of Japan has reduced its shareholding in Uber Technologies Inc by roughly half after the ride-hailing company unloaded the autonomous driving business at the heart of their relationship. “The development of vehicles related to automated driving was one of the main objectives of Toyota’s investment,” Toyota spokesperson Shiori Hashimoto said in a…
HSBC Bank Oman has stated that it will conduct preliminary negotiations with local rival Sohar International Bank, which last week hinted at the prospect of a cash-and-shares merger. The unit of UK-based HSBC Holdings said in a statement that it has studied the letter of intent received from Sohar and agreed to engage in preliminary…
Total sales by China’s e-commerce giant JD.com grew 10.3 percent in the 18 days leading up to Sunday during the first major shopping festival following a recent COVID-19 breakout, the firm claimed, a steep decrease from the 27.7 per cent growth seen in the 2021 event. This year’s figure was the slowest for the shop,…
Following the filing of a court claim alleging Apple of secretly lowering the performance of older phones, millions of iPhone customers may be eligible for payments. According to Justin Gutmann, the business misled users about an upgrade that was supposed to improve speed but really slowed phones down. He is suing for up to £768…
With a global scarcity of commodities such as crude oil and sunflower oil, Britain’s Unilever has altered the constituent composition of several of its goods such as deodorants and packaged food to reduce prices and mitigate supply limitations. The capacity to alter components and supplies, which has traditionally been difficult for consumer products manufacturers, became even…
Toymaker Lego has said it will make an investment of more than $1 billion in a facility in the United States to simplify supply chains and keep up with surging demand for its coloured plastic blocks in one of its major markets. The facility in Chesterfield County, Virginia, will be the Danish company’s second in North America…
American chip making firm Qualcomm won its appeal of a 997 million euro ($1.05 billion) sentence levied by EU antitrust regulators four years ago on Wednesday, handing a huge setback to EU antitrust commissioner Margrethe Vestager’s campaign on Big Tech. According to the European Commission’s 2018 judgement, Qualcomm paid Apple billions of dollars between 2011…
Bill Gates known to be an opponent of cryptocurrencies and non-fungible tokens. Speaking at a TechCrunch lecture on climate change on Tuesday, the billionaire Microsoft co-founder described the phenomena as “100% based on greater fool theory,” referring to the premise that overvalued goods will rise in value when enough investors are ready to pay more…
Tesla intends to conduct a three-for-one stock split and that board member Larry Ellison will not seek re-election. These were revealed in its annual proxy statement that the company filed with the SEC. Tesla shares were up more than 1% after hours, having ended at $696.69 on Friday. In the filing, the business stated that…
The entry of Apple into the competitive “buy now, pay later” industry has pushed the envelope for the fintech firms that pioneered the practise. On Monday, Apple revealed plans to create its own “pay later” loans, adding to its portfolio of financial services products, which already includes mobile payments and credit cards. The service, known…
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