About $24 million is being planned to be invested in the development of “e-fuels” by the German auto maker Porsche. According to experts, ‘e-fuel’ is a climate-neutral fuel and is viewed as a replacement of gasoline for nonelectric vehicles. Development and mass production of such fuel will give a means to the German company as…
ExxonMobil has announced a dramatic mark down in the value of its natural gas assets, hitting the company already embattled throughout 2020. And with the company forecasting a more muted oil price recovery, the company also pledge to sharply reduce its spending ambitions. Incurring a non-cash charge of between $17 billion and $20 billion is…
The largest corporate acquisition of 2020 was marked by the announcement of the acquisition of IHS Markit by the data giant S&P Global in a deal with $44 billion. The completion of the deal will also create one of the leading companies in the financial information market which is growing fast. The negotiations for the…
Application for emergency regulatory approval of its coronavirus vaccine is being filed by Moderna with regulatory bodies in the United States and Europe so that the vaccine against Covid-19 can be recommended for use among the masses. Trial data for the mRNA vaccine will be reviewed by the regulators and then a decision on the…
The French government is taking an effort to get tech companies to get on board for publicly committing to principles which include paying their fair share of taxes. However, according to reports quoting government sources, United States based tech giants Amazon and Apple have not yet signed up to the pledge. Over the last three…
In order to determine the safety and efficacy of AstraZeneca’s coronavirus vaccine, there is need for more data from the vaccine trials, said scientists from the University of Oxford and the World Health Organization, after concerns were raised about the vaccine by experts from the United States earlier. “There’s always a problem in announcing scientific…
The value of a second-hand car website from India has rocketed to more than $1bn helping it to achieve unicorn status. With people looking to get access to alternatives to public transport such as pre-owned cars during the pandemic, a significant increase in its business has been witnessed by India’s Cars24. When a national lockdown…
A new hatchback model could be launched exclusively for the European market in the near future by the United States based electric car maker Tesla, suggested its Chief Executive Elon Musk. The Model S executive saloon and the Model 3 sedan as well as two SUVs in the Model Y and Model X are currently…
According to the Bloomberg Billionaires index, which tracks the 500 wealthiest people in the world, the net worth of Tesla CEO reached $127.9 billion on Monday, with the shares of the electric vehicle maker reaching a record high. This sudden increase in Musk’s net worth made him the second-richest person of the world, beating Bill…
The United States based electronics retailer Best Buy notched up its largest quarterly sales growth in 25 years in the three months ending on October 31 as the company benefitted significantly from the rising trend of consumers purchasing laptops, home theatre systems, kitchen appliances and other electronics products with such consumers being forced to spend…
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