Gap Inc cut its forecast for sales for the entire year as it predicted to be hit by a loss of up to $650 million due to supply chain disruptions such as closures of manufacturing factories in Vietnam and the currently high-cost of air freight for distribution of its products. The shares of the company…
At the Los Angeles Auto Show, automakers pursuing Tesla Inc unveiled new, more affordable, and bigger electric sport utility vehicles, racing into one of the fastest-growing categories of the US market. At the exhibition, Kia Motors singled out Tesla, claiming that its forthcoming electric crossover EV6 had broken Tesla’s previous record for the quickest charging…
A state-backed publication of China suggested on Friday that the focus of China’s Singles’ Day shopping event should move from being a “traffic and sales battle” to one that is closely linked to science and technology, while also labeling the “cult of turnover” as not being consistent with the country’s new growth and development path.…
As the globe learns to live with the coronavirus, AstraZeneca said it will start to generate a small profit on its coronavirus vaccine, even as the pharmaceutical firm is in talks with several governments about further orders of its Covid-19 vaccine for delivery next year. During the pandemic, a pledge was made by AstraZeneca of…
The least growth in memberships in Disney+ since the video streaming services was launched by Walt Disney Co to compete with Netflix Inc was reported on Wednesday by the company. The numbers reported by the company were much lower than expectations of Wall Street projections. The announcement resulted in the stocks of the company going…
The market value of the Amazon-backed electric vehicle maker Rivian Automotive Inc crossed the $100 billion following as much as a 53 per cent surge in the shares of the company on Wednesday at its debut at Nasdaq in what was the largest initial public offering so far this year. The stocks of the company…
The United Kingdom is facing a shortage of crunch. After weathering the panic purchasing at gas stations due to shortage of fuel and skyrocketing domestic heating costs, the British public must now face a new scarcity – that of crisps, or potato chips, one of the most favorite snacks of the country. Following an…
Uber Technologies Inc declared its first profitable quarter on an adjusted basis since its inception more than a decade ago, with both of its most crucial sectors, ride-hailing, and food delivery, turning the corner. Company officials assuaged investor fears about a driver shortage by assuring analysts that the company’s spending on incentives to attract drivers…
The general insurance business of the American International Group Inc (AIG) encountered lesser number of natural calamities during the latest completed quarter, along with lower insurance claims because of Covid-19 infections helped the insurer to report profits for the quarter that was more than what analysts were expecting. In the third quarter of the current…
The oil and gas giant Shell’s CEO, Ben van Beurden, has stressed that it would be possible for the company to achieve its net-zero emissions by 2050, but reaffirmed that it would require cash from its oil and gas operations to find the transition. The idea of separating the company’s historic oil and gas business…
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