The market value of the Amazon-backed electric vehicle maker Rivian Automotive Inc crossed the $100 billion following as much as a 53 per cent surge in the shares of the company on Wednesday at its debut at Nasdaq in what was the largest initial public offering so far this year. The stocks of the company…
The United Kingdom is facing a shortage of crunch. After weathering the panic purchasing at gas stations due to shortage of fuel and skyrocketing domestic heating costs, the British public must now face a new scarcity – that of crisps, or potato chips, one of the most favorite snacks of the country. Following an…
A rush of cash out of emerging economies was triggered the last time the Federal Reserve reduced its bond-buying program. But according to investors, this time things are a bit different since they have placed their faith and money in getting great returns in some of the largest emerging economies of Asia. In particular, Indonesia…
Uber Technologies Inc declared its first profitable quarter on an adjusted basis since its inception more than a decade ago, with both of its most crucial sectors, ride-hailing, and food delivery, turning the corner. Company officials assuaged investor fears about a driver shortage by assuring analysts that the company’s spending on incentives to attract drivers…
The general insurance business of the American International Group Inc (AIG) encountered lesser number of natural calamities during the latest completed quarter, along with lower insurance claims because of Covid-19 infections helped the insurer to report profits for the quarter that was more than what analysts were expecting. In the third quarter of the current…
The oil and gas giant Shell’s CEO, Ben van Beurden, has stressed that it would be possible for the company to achieve its net-zero emissions by 2050, but reaffirmed that it would require cash from its oil and gas operations to find the transition. The idea of separating the company’s historic oil and gas business…
Prices for its products are to be increased by Ikea because the global supply lines are anticipated to be disrupted for the rest of the year as well as extend into 2022. A dip in full-year earnings was announced by Ikea on Wednesday owing to rising transportation and raw material expenses. It will transfer some…
A funding $93 million was raised in a funding round by the Sandbox, a gaming platform based in Hong Kong that gives the opportunity to its users to build a virtual world using non-fungible tokens (NFTs), and its investors include Japan’s SoftBank’s Vision Fund 2, the company has informed. It was just about a year…
According to Nikkei Asia, Apple has reduced iPad manufacturing significantly in order to assign more components to the iPhone 13, indicating that the worldwide processor supply constraint is affecting the firm far more severely than previously suggested. For the past two months, production of the iPad has been cut by half compared to Apple’s initial…
In terms of gaming platforms, the products of Apple rival those from with Sony Playstation, Microsoft Xbox, and Nintendo, according to a regulatory filing released on Friday. Apple has stated earlier that it competed for software developers’ attention and rivalled with Google’s Android and Microsoft Windows. However, recently it has been revealed that Gaming applications…
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