The cruise company that is currently in a lot of financial trouble, Genting Hong Kong, witnessed its stock drop by more than 50 per cent following the firm announcing that it might not be able to fulfill its debts and other obligations. After a four-day hiatus, trading resumed on Thursday. “There is no certainty that the Group will…
A leading Chinese consumer organization has called for a boycott of a KFC meal offer, claiming that the deal that the company was offering for its customers promotes food waste. According to the China Consumer Association (CCA), the promotional offer from the company caused some buyers to go on a shopping spree and purchase more meals…
Online sales during the holiday season rose nearly 9% to a record $204.5 billion, Adobe Analytics said Wednesday, as consumers opened up their wallets to spend on gifts for family, friends, and for themselves. But the uptick in sales was driven, in part, by higher prices on goods from apparel to groceries to appliances, said…
Starbucks Corp said that its expenditure with suppliers and vendors from underrepresented groups in North America will nearly treble to $1.5 billion by 2030. Starbucks’ chief global inclusion and diversity officer, Dennis Brockman, says the firm can utilize the global supply chain disruption caused by Covid-19 to improve diversity. “This will give us an opportunity…
Philips shares fell more than 11 per cent on Wednesday morning after the Dutch health technology giant raised the cost of its major ventilator recall and warned that worldwide supply chain constraints would hurt earnings. As it continued to struggle for memory chips and other supplies, the hospital equipment and personal health device supplier said it…
An assertive driving mode has been added to Tesla’s automatic driver assist technology. The setting will drive more closely behind other vehicles, change lanes more frequently, avoid leaving the overtaking lane, and conduct rolling stops. Human driver behavior like this is frequently criticized by safety organizations. One automotive safety expert, however, believes that it is…
The German auto giant Volkswagen AG expects to increase the sale of its ID battery electric vehicles in China by two times this year, the company said, and added that it wants to perform even better next year. it however also cautioned that a global scarcity of semiconductors could stymie the automaker’s expectations on performance.…
According to reports quoting sources, Amazon.com Inc has lodged new legal challenges in its long-running battle with Indian retailer Future Group following the national antitrust commission suspending a 2019 deal between the two parties, which put a halt to their arbitration. Last month, the Competition Commission of India (CCI) put a hold on Amazon’s 2019 contract with Future, putting a stop…
Even as the mainstream auto companies all around the world struggled to cope up with the global shortage of semiconductors and issues with their global supply chains, the luxury car maker Bentley Motors reported selling a record number of its luxury sedans and SUVs last year, the carmaker which is now 102 years old said…
A “very tight” labor market and unchecked inflation could force the United States Federal Reserve to raise interest rates sooner than expected and begin decreasing its overall asset holdings as a second economic brake, policymakers at the US central bank said last month. The minutes from the Fed’s Dec. 14-15 policy meeting, which were released on…
