Ikea, the Swedish company, is taking on the role of landlord in Japan by renting out a small flat in Tokyo. According to specifications revealed by Ikea this week, the 10-square-meter (107-square-foot) apartment is located in Shinjuku and will cost just 99 yen ($0.86) per month to rent. There is just one available flat, which…
Reliance Industries and Saudi Aramco have canceled an agreement for the state-owned oil giant to acquire an interest in the oil-to-chemicals segment belonging to the Indian conglomerate due to value issues, sources who are aware of the issue told. Discussions broke out over the extent to which Reliance’s Oil-to-Chemicals (O2C) business is worth as the…
A lawsuit against a soon-to-be former veteran employee has been filed by Pfizer Inc over allegations that the employee had decamped with “scores” of proprietary information, including those that are linked to the Covid-19 vaccines of the company. The employee is said to be preparing to join one of the rival companies of Pfizer. The…
Baidu said this week that it would begin collecting robotaxi fees in a portion of Beijing on Thursday, marking a significant step toward expanding its autonomous taxi company. The regulatory clearance to encourage robotaxis in China comes at a time when municipal governments in the United States are moving in the same way. The city…
Xiaomi Corp of China reported a lower-than-expected 8.2 per cent increase in its third-quarter revenue, citing stagnation in smartphone sales in the face of increased competition from rivals. The weak quarterly results of the company dropped by 7 per cent. The company reported that there was a 0.4 per cent growth in its revenues from…
Delivery of the electric version of its GMC Hummer pick up trucks will be started by General Motors Co in December, according to the head of the brand Duncan Aldred. Aldred said in a conference call that an electric driving range of 329 miles will be offered by the “Edition 1” of the Hummer which…
Tesla Inc subjects female workers to “nightmarish” conditions of rampant sexual harassment at its main factory, and supervisors turn their backs when complaints are brought, according to a new lawsuit. Jessica Barraza, 38, said she has endured “near daily” catcalls and inappropriate touching in her three years at the electric vehicle maker’s factory in Fremont,…
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.…
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