Eutelsat, Based In France, Is In Negotiations With UK Satellite Provider OneWeb About A Prospective Merger

Eutelsat, a French satellite business, said it was in negotiations with British rival OneWeb about a prospective merger, which would help both companies compete with Elon Musk’s SpaceX’s Starlink and Amazon.com’s Project Kuiper. “Following recent market rumors, Eutelsat Communications confirms that it has engaged in discussions with its co-shareholders in OneWeb regarding a potential all-share…

AmEx Lifts Their Revenue Projection In Response To Rising Travel Spending

American Express Co’s quarterly card spending hit a new high as pandemic-weary travellers ignored soaring airfare to flock to airports, allowing the company to lift its annual revenue projection and push its shares up 5%. The credit card company also outperformed expectations for April-June profit, joining major US banks such as JPMorgan Chase & Co…

Northvolt, Supported By Volkswagen, Is Developing Wood-Based Batteries For Electric Vehicles

Northvolt will collaborate with Stora Enso to develop batteries that include components made from wood taken from Nordic woods. A joint development agreement between the companies will see them collaborate on the manufacturing of a battery with an anode built of lignin-based hard carbon. Along with the cathode and electrolyte, an anode is an important…

Facebook Returns To Its Roots With A Redesigned Feed That Prioritises Friends And Family

On Thursday, Facebook will debut a new feature that will allow users to see posts in reverse chronological order rather than content ranked by an algorithm. The “Feeds” tool is a dedicated tab in the Facebook programme that displays all of the most recent postings from users’ friends. The primary news stream will now be…

Volvo Cars Predicts Flat Or Fall In Retail Sales For 2022

After reporting greater second-quarter profits, Volvo Cars warned of a possible drop in retail sales this year. Supply issues, most notably a global scarcity of semiconductors, have crimped manufacturing and retail sales in recent quarters, but Volvo reported a “significant improvement” in supply chain stabilisation. The Swedish automaker said on Wednesday that full-year retail deliveries…

Unilever’s India Unit Has Issued A Price Increase Warning Due To Cost Pressures On Profits

Hindustan Unilever Ltd, India’s largest consumer goods manufacturer, warned on Tuesday that strong inflation will eat into its margins in the current quarter, potentially leading to higher product prices. In the June quarter, high commodity prices forced Unilever’s India unit to boost prices across its core divisions, including domestic care, skin and hair washing products.…

Deliveroo Lowers Its Revenue Forecast As UK Consumers Cut Back On Spending

Deliveroo, the British food delivery startup, lowered its full-year sales forecast on Monday, as consumers cut back on spending amid a deteriorating cost-of-living problem. Deliveroo shares were down 3 per cent at 82.4 pence at 0733 GMT, having lost more than three-quarters of company value since listing at 390 pence in March 2021. The company, which…