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…
The driving range on s single charge and other features of its bZ4X sport utility vehicle (SUV) was disclosed recently by Japan’s Toyota Motor Corp. This is the first in a series of electric-only models of the vehicle being manufactured by Toyota and the company has set a target of launching the vehicles globally to…
A significant stake in Rivian Automotive, a start-up that develops electric cars, including Amazon’s commercial delivery vans, was revealed by the retail giant on Friday. According to an SEC filing, Amazon has equity assets “including preferred shares of Rivian Automotive, Inc. reflecting an approximately 20% ownership stake” with a carrying value of $3.8 billion as…
After reporting better-than-quarterly expected results, Hershey Co. raised its annual sales and profit estimates on Thursday, driven by expectations of high demand for its chocolates and sweets during the “biggest ever” Halloween season. After the epidemic halted trick-or-treating gatherings last year, demand for the company’s products such as Reese’s Peanut Butter Cups and KitKat chocolates…
