Volkswagen And Umicore Collaborate On Battery Components

Volkswagen, the latest European automaker to bring battery supplies closer to home in the shift to electric vehicles, announced on Monday a $2.9 billion joint venture with Belgian materials company Umicore. While the majority of the raw materials, such as lithium, cobalt, nickel, and manganese, will still be sourced from around the world, the joint…

Boeing Will Pay $200 Million To Settle Allegations That It Deceived Investors Regarding The 737 Max

In response to accusations that it misled investors about two fatal 737 Max crashes, Boeing will pay $200 million. The US stock market watchdog claimed that the aviation giant and its former CEO Dennis Muilenburg misrepresented safety-related issues. In an effort to improve its reputation, Boeing “put profits over people,” according to the Securities and…

In A Contentious All-Hands Meeting, Google CEO Sundar Pichai Cautions Employees Not To “Equate Fun With Money”

Google’s CEO Sundar Pichai is finding himself on the defensive as the serch engine giant tries to navigate a new environment of slowing growth, cost-cutting, and employee discontent over cultural changes. According to a CNBC report, Pichai was asked challenging questions by staff this week at an all-hands meeting for the entire company about budget cuts…

Almost 1.1 Million Tesla Cars In The US Recqalled By The Firm To Upgrade Window Reversing Software

Because the window automatic reversal system may not respond appropriately after detecting an obstruction, increasing the risk of injury, Tesla is recalling nearly 1.1 million U.S. vehicles. The manufacturer of electric vehicles informed the National Highway Traffic Safety Administration (NHTSA) that it would update the automatic window reversal system’s software over the air. Some Model…

FT: Credit Suisse Is Thinking About Dividing Its Investment Bank Into Three

The Financial Times reported on Thursday that Credit Suisse Group AG has developed plans to divide its investment bank into three as the Swiss lender tries to recover from three years of nonstop scandals. According to the report, which cited people familiar with the plans, the bank is looking to sell profitable divisions like its…

Despite A Drop In Profit, UK-Based Kingfisher Says Its Business Is Thriving

Despite a cost-of-living crisis that is eating into household budgets, British home improvement retailer Kingfisher reported a 29.5% drop in first-half profit. CEO Thierry Garnier told reporters that, with the exception of outdoor, sales in all product categories had returned to positive like-for-like growth in the previous week. “When we look at customer demand we…

Elon Musk Is Facing Doubters As Tesla Prepares To Introduce The “Optimus” Robot

Elon Musk, the CEO of Tesla, claimed that humans are superior at some tasks and that the company’s reliance on factory robots four years ago caused it to enter “production hell.” According to job postings, Musk’s Texas-based company is reportedly considering ambitious plans to use thousands of humanoid robots, also known as Tesla Bot or…

Cancer Patients Ask The Court To Remove The J&J Bankruptcy Legal Impediment

Plaintiffs in talc lawsuits against Johnson & Johnson urged an appeals court on Monday to reinstate their cases, arguing that the profitable company shouldn’t be permitted to use a bankrupt subsidiary to thwart claims that the products cause cancer. They requested that the bankruptcy of J&J’s subsidiary LTL Management be dismissed by a panel of…