To meet the rising demand for its goods in Asia, Lego has announced its plans for setting up of a new production facility in Vietnam. The toymaker said it will invest more than $1 billion in the new production unit, which will be located near Ho Chi Minh City, the country’s primary commercial centre. After…

Nestle SA will lower its stake in L’Oreal to roughly about 20 per cent through selling shares worth 8.9 billion euros ($10 billion) back to the French cosmetics company, the company has said. This would help Nestle to bring down the pressure of the beauty giant’s on its financial books. This is also the first…

An all-electric compact car in China will be launched next year by Japan’s an all-electric compact car in China, said a report from news agency Reuters, quoting information from sources with knowledge of the matter. The vehicle is reported to have been made with the help of Toyota’s local Chinese partner BYD which supplied the…

American Express Global Business Travel (GBT) is set to get publicly listed at the stock market through a merger with a blank-check startup funded by Apollo Global Management Inc in a deal worth an estimated $5.3 billion, the company said on Friday. The company expects to achieve gross proceeds of up to $1.2 billion, including…

BioNTech should be able to change its coronavirus vaccine swiftly in reaction to the Omicron variant, and the next few weeks will demonstrate how urgently an upgrade is required, according to BioNTech CEO Ugur Sahin, who spoke at the Reuters Next conference on Friday. People should continue to seek out the established injection, which was…

GlaxoSmithKline (GSK) said on Thursday that laboratory testing of the antibody-based Covid-19 treatment that it is developing in partnership with the United States based from Vir has shown that the medicine is effective against the Omicron variant of the novel coroanvirus. According to a statement made public by GSK, lab testing and a hamster research…

The global shortage of semiconductors that started earlier is slated to continue to well into the next year, warned Volvo Cars. The global auto industry is one of the sectors that has been significantly impacted by the global shortage of chips. The warning was issued by the company as it reported a drop in its…

According to Moderna’s chief medical officer, Omicron, a novel coronavirus strain, may evade the current generation of Covid-19 vaccinations. In the next weeks, scientists should know more about vaccinations’ capacity to give protection, according to Paul Burton. “These mutations – at least 30 of them in the spike protein alone, nine of them known to…

A section of former employees of Google has filed a lawsuit against their former employer’s Alphabet Inc unit on Monday. The plaintiffs claimed that the company violated the terms of their employment agreements as it had not followed its infamous mantra “don’t be evil.” In the suit filed at California State Court in Santa Clara…

Twitter Inc Chief Executive Officer Jack Dorsey will step down from his position and a replacement is being drafted an individual who was aware of the matter said to Reuters. The board of directors at the company has been working on Dorsey’s departure from the company since last year, a source told. The announcement comes…