BYD, the Chinese electric vehicle (EV) giant, is embarking on a rapid global expansion to compete with Tesla, but for the time being, it is stuck in the slow lane on its rival’s home turf. While BYD has not fully articulated its global ambitions in public, four sources familiar with BYD management’s thinking said that…
Emerson Electric Co, a US engineering and industrial software company, announced a nearly $7 billion offer for National Instruments Corp, which it has been attempting to acquire unsuccessfully for several months. The software company’s all-cash bid of $53 per share, first submitted to NI on Nov. 3, represents a 13% premium to NI’s Friday close.…
Marks & Spencer, the British clothing and food retailer, plans to open 20 new, larger stores in 2023-24 as part of a radical overhaul of its store estate in which it will invest 480 million pounds ($587 million). The 139-year-old company announced on Monday that the investment would create over 3,400 new jobs across the…
Danone, one of the world’s largest dairy companies, announced on Tuesday that it intends to reduce absolute methane emissions from its fresh milk supply chain by 30% by 2030 through collaboration with farmers, other companies, and governments on regenerative practices. Scientists and policymakers are calling for aggressive action to reduce methane emissions, which have emerged…
In an interview published on Saturday, UBS Chairman Colm Kelleher stated that the bank has no interest in buying fellow Swiss lender Credit Suisse. The former Morgan Stanley president said he was focused on organic growth rather than acquisitions and expanding the bank’s business in the United States, ruling out a bid for his bank’s…
Adidas has lost a court case in which it attempted to prevent a fashion designer from using a four-stripe design. The sportswear giant claimed that the four stripes of luxury brand Thom Browne Inc were too similar to its three stripes. Browne contended that shoppers were unlikely to mix up the two brands because, among…
Chinese electric vehicle (EV) maker BYD Auto Co plans to build a plant in Vietnam to produce car parts, according to a Reuters report quoting information from people with knowledge of the matter. This is a part of a global expansion that would reduce the company’s reliance on China and deepen its supply chain in…
On Friday, a Boeing 737 MAX made its first passenger flight in China in nearly four years, marking a significant milestone in the American planemaker’s efforts to rebuild its business in the world’s second-largest aviation market. According to flight tracking website FlightRadar24, the China Southern Airlines domestic flight from Guangzhou to Zhengzhou took off at…
The crypto exchange Binance had been registered as a financial institute in Sweden this week, announced the country’s financial watchdog on Thursday. According to Per Nordkvist, deputy head of the Financial Supervisory Authority’s banks division, the registration allows Binance to launch a website in Swedish and market itself directly to consumers in the Nordic country.…
According to a new report from the International Energy Agency, the world is entering a “new age of clean technology manufacturing” that could be worth hundreds of billions of dollars per year by the end of the decade, creating millions of jobs in the process. The IEA’s Energy Technology Perspectives 2023 report, which was released…
