A couple of days after the arrest of its ousted CEO, the payments giant Wirecard collapsed on Thursday with a debt to creditors worth almost $4 billion. The company had disclosed earlier this month a shortfall in its books which, according to its auditor EY, was the outcome of a sophisticated global fraud. Filing for…
A law suit launched against Renault and Nissan has alleged that up to about 1.4 million vehicles of the companies that had been sold in Britain were potentially equipped with illegal defeat devices. The listed vehicle models as mentioned in the law suit includes a petrol-powered version of Nissan Qashqai which is one of the…
The Italian government has confirmed a 6.3-billion euro ($7.1 billion) loan to Fiat Chrysler’s Italian business unit by approving a decree offering the government’s guarantees for the loan, said reports quoting source information. That has now ensured the path for the largest novel coronavirus pandemic related loan to any European car making company. The decree…
An almost 15 year dependency on Intel Corp over supplying of processors for its flagship laptops and desktop was ended by Apple Inc on Monday when it announced that the company would be using its own chips for its Mac computers. This development marked the beginning of a major new era for a product line…
An extension of a halt in issuing of green cards as well as a suspension of visas for foreign workers being allowed in the United States till 2020 announced by President Donald Trump. The new visa policy announced by Trump is expected to affect a high-skilled tech workers, non-agricultural seasonal helpers, au pairs and top…
SoftBank has now kick started its program for sale of assets as the Japanese firm has announced earlier, as the firm started offloading its stake in T-Mobile. The plans of the Japanese tech conglomerate is to sell off more than 198 million shares of stocks of T-Mobile with is worth a total of $21 billion,…
Starting with a fashion show in Italy in July, all of the scheduled fashion shows for this calendar year would be pushed to be concluded by the French luxury label Christian Dior. However the brand also made it clear that the coveted front row of those shows would empty which means that A-listers of the…
Microsoft has supported the calls for conducting an antitrust investigation into the alleged monopolistic practices at App Store which has put more pressure on Apple. Earlier this month, the policy of Apple to take a 30 per cent cut from antitrust investigation that the iPhone maker takes to allow the developers to sell their products…
The relationship between the European Union and China had sourced in recent months after the EU had alleged that China has spread disinformation about the novel coronavirus pandemic and about China’s role in managing the emergence of the pandemic and its spread to the rest of the word. The two sides are now trying to…
Following a record borrowing by the United Kingdom government in May, the total debt of the country has now exceeded the worth of its economy. The government borrowed £55.2bn in May this year which was nine times larger than the borrowing of the government in the same month a year ago. It was also the…
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