India’s largest conglomerate the Tata group has been sold the country’s loss making national carrier Air India in a deal worth almost $2.4bn. Tata was the highest bidder for the airline that was put up for sale by the Indian government. Originally, the airline was founded by The Tata group in 1932 and was later…
After a sale of shares by the current investors which was announced earlier this week, the market valuation of Elon Musk’s SpaceX crossed $100 billion, said reports quoting sources. According to multiple people familiar with the matter, SpaceX has reached an agreement with new and existing investors to sell up to $755 million in…
Britain’s NatWest concede that it was unable to stop money laundering through it worth 400 million pounds ($544 million) and is likely to be slapped with a substantial fine. This is the first lender of the United Kingdom to have conceded to a criminal charge of not preventing money laundering. The British bank was bailed…
The China Evergrande Group, which has recently caught the global attention because of its astronomically high debt and the concerns of its collapse having a widespread impact on the global economy, has been sued by two Hong Kong property agencies over commissions unpaid to the agencies, according to reports based on a court filing This…
According to data that experts praised as a possible milestone in how the Covid-19 causing virus is handled, an experimental antiviral medicine produced by Merck & Co has shown the potential to half the risks of dying or being hospitalised for people most at risk of acquiring severe case of Covid-19. If approved, molnupiravir, which…
United States based General Motors Co was beaten by Japanese automaker Toyota Motor Corp in terms of sale of its vehicles in the US market for the first nine months of the current year, partly because of the Detroit automaker struggling to ramp up production of its cars because of issues resulting from the global…
With more of its customers choosing to move online for their banking transactions and needs, almost one in five branches of Virgin Money UK will possible have to be closed down in the coming months, said the British bank on Thursday. This makes Virgin Money to become the latest bank to bring down its physical…
India’s telecom firm Bharti Airtel wil make in investment of 50 billion rupees ($673 million) for expansion of its data centre operations so that the company is able to satisfy consumer demand in and around India, the company said on Thursday. The investment will be made by 20205 by its Nxtra business, Airtel Business CEO…
The current market situation has reportedly forced the public listing of Virgin Atlantic, the United Kingdom based airline founded by billionaire Richard Branson, to be delayed by the company till early next year as the company now focuses on the reopening of the transatlantic market, said reports quoting sources with knowledge of the matter. The…
General Motors’ BrightDrop electric commercial vehicle company would add a second delivery van to its portfolio in 2023, the company said on Tuesday, and added that it has committed to offer that vehicle to Verizon Communications Inc. The medium-sized EV410, intended for a sector that includes groceries, telecoms, and other service providers that require smaller…
