After operating for more than fifty years, United States based auto manufacturing company Ford has announced that it would close down a factory in Brazil. This is part of the strategy of the company to end selling of heavy commercial trucks in entire continent of South America. It saw “no viable path to profitability” for…
According to statement of the German interior ministry to the media, the Chinese tech giant Huawei would not be excluded from the setting up of the 5G network in the country and the country might even tweak changes in its regulations t hat would allow even those companies that are considered to be potentially untrustworthy…
The strength of the US economy was evident in the results of Walmart Inc which reported quarterly performance numbers for the holiday quarter which beat estimates, driven by increased consumer spending which led to more e-commerce purchases. The shares of the company rose by almost 3 per cent following the publication of the results. A…
United States based ride hailing company Lyft Inc is trying to be the first ride hailing company to be traded publicly and would flaunt its fast growth in the United States as its main attraction points for investors for the IPO, according to media reports quoting sources with knowledge of the matter. The reports claimed…
A survey by the European Parliament revealed on Monday predicted that the biggest group in the EU legislature would be the center-right after elections in May this year, which indicates that there would also be an increase in the number of seats to the far right. According to the survey, with 29 seats, the position…
According to a report published in the Washington Post on Thursday, the US based largest social media platform of the world Facebook could be facing penalties to the tune of billions of dollars as it attempts to settle a case with the US government which is related to the lapses made by the company over…
A $700 million investment round, in which Amazon was a major player, was announced to have been successfully completed by electric truck start-up Rivian which is also touted to be a potential rival to US electric auto maker Tesla. It was just months ago that the company, based out of Michigan i n United States,…
Negotiations are going on between Germany’s Metro and Chinese e-commerce giant Alibaba Group Holding Ltd for the Chinese company potentially taking up a stake in the German company’s China operations according to a report published by Reuters. The report however carried no comments from either Metro or Alibaba. According to the report quoting sources, the…
A crypto currency has been created by US investment bank JP Morgan to allow a section of its customers who are in the wholesale business to be able to make payments in digital currencies. This is the first time that a digital coin has been developed by a US based major bank. The bank said…
According to media reports quoting sources, the British Prime Minister Theresa May has been told by US car maker Ford Motor Co that some of its production processes would have to be moved out of the UK due to Brexit, this was conveyed by the company during a conference call on Tuesday with May. According…
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