Honda Motor Co of Japan and LG Energy Solution Ltd of Korea announced on Monday that they will establish a new lithium-ion battery plant for electric vehicles in the United States. Battery manufacturers are looking to expand production in the United States, where a shift toward electric vehicles (EV) is likely as the country implements…
Chinese technology behemoths are coming off their worst quarter of growth in history, as the world’s second-largest economy slows, exacerbated by Beijing’s strict Covid policy. Alibaba reported its first ever flat year-on-year quarterly revenue growth in the second quarter of the year, while social media and gaming company Tencent reported its first sales decline on…
This year, passengers are not the only ones who have to pay more to fly. A lack of aircraft is driving up the cost of renting planes just as travel demand is increasing. According to aviation advisory firm IBA Group, the rent on a new Boeing 737 Max increased by more than 20% between April…
Rivian Automotive is an electric vehicle manufacturer that is following in Tesla’s footsteps, but with a unique twist. Rivian, which was founded in 2009, focuses on upmarket electric trucks and SUVs with a focus on outdoor adventure. Rivian’s first vehicle, the R1T electric truck, was released at the end of last year. It has been…
GAIL (India) Ltd. in India has set a goal of having net zero carbon emissions from operations by 2040, according to Chairman Manoj Jain, who spoke Friday at the annual shareholders meeting of the gas distributor. One of the world’s largest emitters of greenhouse gases, India, wants to increase the share of gas in its…
According to a late Friday report from Bloomberg news, Netflix Inc. plans to charge between $7 and $9 per month for its new advertising-supported subscription plan. The business intends to roll out its cost-effective option in at least six different geographies during the last three months of the year. The report indicated that the full…
Boeing Co. is aiming to launch its first Starliner mission to the International Space Station in February 2023, according to statements made on Thursday by Boeing and NASA officials as the aerospace company approaches the end of a pricey and protracted development process. A similar test flight in 2019 was cut short by software issues,…
An Exxon spokesperson confirmed on Friday that the company has reached an agreement with Flywheel Energy to sell natural gas properties in Arkansas to the privately held American oil and gas producer. With the sale of its Fayetteville Shale assets, Exxon will be one step closer to reaching its goal of offloading $15 billion in…
Energy giant Shell has received a fine of over £500,000 for overcharging thousands of customers with pre-payment meters since the government had introduced the energy price cap in 2019. Due to “operational errors,” the home energy provider for the oil giant failed to update meters with new rates. Ofgem said: “Overcharging by suppliers can cause additional and…
Despite a surplus of inventory and weak sales of out-of-date clothing, Gap Inc. reported a surprise quarterly profit on Thursday due to demand for dressier clothing under its Banana Republic brand. As more people go out to social events and offices, people are choosing suits, dresses, and skirts over casual clothing. Demand for affordable luxury,…
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