The Japanese auto maker Nissan has come to a conclusion that to turn around its fortunes it is necessary for the company to become much smaller and the company will likely announce a reduction in its annual sale target of cars by 1 million, said reports quoting sources within the company. Nissan is due to…
There are a number of companies that are rewarding their frontline workers with salary increases for working under trying circumstances amid the coronavirus pandemic even as many companies globally have been forced to slash payments and salaries of staff because of the economic impact of the pandemic. Almost two out of five workers around the…
A retail developer in California, United States, has approached the court seeking direction to prevent Exxon Mobil Corp from selling a piece of property to any other buyers, arguing that the developer was unable to complete the $4.2 million property acquisition because of the lockdown in the state because of the coronavirus pandemic which was…
The second largest cinema chain of the world – Cineworld, was forced to close down all of its cinemas globally because of the coronavirus related restrictions in many countries of the world and it is now in talks with landlords and film studios to try and save as much of cash as possible, until business…
A package worth almost $1 trillion is being committed by Japan to be used for supporting its economy from the hit of the coronavirus pandemic. A 108 trillion yen ($989 billion) relief package was announced by the Japanese Prime Minister Shinzo Abe on Monday. The amount is staggering and is equivalent to about 20 per…
Thousands of Volkswagen car owners of the United Kingdom apparently won the first stage of a High Court action against the German auto giant over the allegations of fitting emission cheating devices in the diesel vehicles manufactured by it. The latest court ruling came after a preliminary hearing in December in which the court was…
An investment of $250 million in Vir Biotechnology Inc., along with collaboration, will be made by British drugmaker GlaxoSmithKline for the development of possible treatment for Covid-19, the disease caused by the novel coronavirus. Following this announcement by the companies, there was a 35 per cent jump in the shares of Vir while a 1…
Dutch brewer Heineken has announced temporary closure of production of its beers at its seven plants in Mexico in order to comply with the containment measures for coronavirus pandemic which has caused concerns about shortage of beer in the country. Heineken’s rival in the Mexican market – Modelo, had also announced similar measures earlier. The…
The largest maker of respirator masks – 3M, is willing to comply with the order of the United States president Donald Trump of manufacturing and supplying of more needed N95 masks that are critically needed in the country, the company said on Sunday. However the company also sounded a caution about not being allowed to…
Following the backing down of Japan’s investment firm SoftBank from an agreement to buy $3bn of WeWork shares, the office space company’s founder and former chief executive, Adam Neumann, has now threatened to sue the Japanese firm – which is incidentally also the biggest investor in WeWork. The deal would have helped Neumann himself sell…
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