In a statement, Lion Electric Co stated it plans on going public through a merger with blank-check company Northern Genesis Acquisition Corp. The startup aims to ramp up production capacity to tap growing demands for electric vehicles. Known for its yellow electric school buses, Quebec-based Lion Electric expects to receive around $500 million of net…
On Tuesday, South Korean investment bank Mirae Asset Daewoo Co Ltd stated, it has won a U.S. lawsuit against China’s Anbang Insurance Group. The development comes in the wake of Mirae Asset affiliates scrapping a $5.8 billion deal to buy 15 U.S. hotels from Anbang, which then had filed a lawsuit against the South Korean…
According to sources familiar with the knowledge at hand, from 2021 Samsung Electronics Co Ltd may discontinue its Galaxy Note line of smartphones. The development comes in the wake of a sharp drop in demand for high-end smartphones because of the coronavirus-induced COVID-19 pandemic. Known for its large screen and its stylus for taking notes,…
In a development that cements Huawei’s exit from Britain’ future telecom market, the British government has notified telecommunications companies operating in the country that after September 2021, they should not install any new Huawei 5G kit. The development is part of a broader push to purge Huawei’s equipment from Britain’s high speed mobile networks. Falling…
In a statement, Patrick Vallance, the Chief Scientific Adviser to the British government stated in response to doubts that thave been raised regarding AstraZeneca’s COVID-19 vaccine candidate, the main point about AstraZeneca’s vaccine against COVID-19 was that it worked. “The headline result is the vaccine works and that’s very exciting,” said Vallance during a news…
On Friday, South Korean news agency Yonhap said, North Korean-backed hackers have attempted to break into servers of South Korean companies who are developing coronavirus vaccines. Yonhap cited a parliamentary intelligence committee in its report.
According to a court filing, the Trump administration has granted TikTok’s owner ByteDance a new seven-day extension to an existing order directing the Chinese company to sell its TikTok short video-sharing app. Earlier the the Trump administration had granted ByteDance a 15-day extension which was set to expire on Friday. On August 14, U.S. President…
In a significant development, trade union Verdi has called on workers at seven German Amazon warehouses to go on a three-day strike which coincides with the discount shopping event “Black Friday” on November 27. The strike is scheduled to begin with Wednesday’s night shift, said Verdi, which is demanding better working conditions and pay. Since…
In a statement, France’s Finance Ministry said, it has sent out notices to big tech companies to pay digital service tax as planned earlier. Earlier France had suspended collection of the digital service tax, since negotiations were underway at the Organisation for Economic Cooperation and Development (OECD) on an overhaul of international tax rules. The…
Rejecting a petition filed by China’s ZTE Corp, the Federal Communications Commission (FCC) stated, the Chinese company continues to be a national security threat to the United States’ communications networks. In June, the FCC had designated China;s Huawei Technologies Co and ZTE as threats to national security and had bared the duo from accessing U.S.…
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