In a significant development, the U.S. Postal Service (USPS) stated, it will award a multibillion-dollar, ten-year contract agreement to Oshkosh Defense to manufacture a new generation of postal delivery vehicles. Under the initial $482 million investment, Oshkosh Defense, a unit of Oshkosh Corp, will finalize the production design, testing and vehicle tooling required prior to…
During a U.S. Senate Select Committee on Intelligence, Microsoft Corp’s president Brad Smith stated, the company has notified 60 customers that their data was most likely compromised by hackers during a hacking campaign revolving around Texas-based software firm SolarWinds Corp. In prepared remarks, Smith told members of the U.S. Senate Select Committee on Intelligence that…
In a statement luxury electric vehicle maker Lucid Motors stated, it will go public by merging with blank-check firm Churchill Capital IV Corp in a deal that values the combined company at $11.75 billion. Incidentally, CCIV, which has the backing of Michael Klein, and new private investors are getting shares at different prices: the new…
In a regulatory filing on Monday, video game platform Roblox Corp stated, it has revived its plans to go public and expects its shares to start trading on the New York Stock Exchange on March 10. Earlier the company had postponed its plans to go public through a direct listing following a U.S. Securities and…
In a statement, Wayne Griffiths, the chairman of Volkswagen’s Spanish unit SEAT said, the company is set to lose some of its production volumes in the first half of this year due to the shortage of semiconductors for the auto sector. It will have to recover the loss in the second half. Griffiths made the…
In a development that further fuels speculation of an impending deal between Volkswagen’s supercar brand Bugatti and electric hypercar maker Rimac Automobili, Porsche AG’s CEO told German weekly Automobilwoche that both companies make a good technological fit. Last year, British automotive magazine Car had reported that VW was on the brink of selling Bugatti to…
On Monday, in a significant development that marks Australia taking on big tech, Canberra said it will stick to its principled stand and will not change its proposed laws that takes on Facebook and Alphabet Inc’s Google forcing them to pay for news content, despite vocal opposition from the Big Tech firms. Facebook has reacted…
In a significant development, Facebook Inc’s WhatsApp said, it will goo ahead with its controversial privacy policy update which allows users to read it at “their own pace”; following the update WhatsApp will display a banner providing additional information. Earlier this year in January, WhatsApp had laid out fresh terms aimed at increasing business transactions…
Alphabet Inc’s Google has named Marian Croak, a Black executive, to oversee research on responsible artificial intelligence (AI). The development comes midst weeks of internal anger over a firing of a prominent Black scientist. In a statement Google confirmed that Croak will manage 10 teams, including a dozen scientists studying the ethical considerations of automated…
In a statement Toyota Motor Corp, it is expanding engine production at it West Virginia plant and is investing $210 million to this end; the investment will create 100 new jobs. Engine production capacity at its Buffalo, West Virginia plant will be boosted by 70,000 engines a year, up from the nearly 1 million transmissions…
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