Increasing chances of defaults and ultra-low interest rates are the two major headwinds that would be faced by global banks next year, believes Piyush Gupta, the chief executive of Singapore’s largest bank DBS. Gupta said that the economic hit of the novel coronavirus pandemic has been cushioned to a great extent by government support around…
No fresh investment in manufacturing of battery electric cars in Britain will not be made by the Japanese car giant Toyota until at least the mid-2030s. That announcement was a blow to the aims of the United Kingdom that its car industry will lead the path in the government’s efforts to shift away from conventional…
In a statement the head of cyber security at the United Arab Emirates stated the Arab state is facing increased incidents of cyber attacks after establishing formal ties with Israel. In August, breaking a decades old policy, in a landmark shift the UAE agreed to formally establish diplomatic ties with Israel, Following the move, Bahrain…
In an interview, to Germany’s Wirtschaftswoche weekly magazine, Herbert Diess, Volkswagen’s CEO stated the carmaker expects autonomous vehicles to be ready for sale between 2025 and 2030. Improvements in artificial intelligence, as well as improvements in the performance of computer chips are speeding up the development of autonomous vehicles. “It is foreseeable that the systems…
Tech giants will have to change how they promote themselves, suggested the European Union’s competition chief with the bloc preparing to amend its competition regulations. A complete overhaul of digital regulation is expected to be announced by the EU later this month. It is expected that the new changed regulations will target the business models…
In a significant development, U.S. President Donald Trump has signed an executive order setting the stage for increased usage of artificial intelligence in the decision making process of federal agencies. In a statement, the White House said, it was setting nine principles for the design, development, acquisition and usage of artificial intelligence in government departments.…
About $24 million is being planned to be invested in the development of “e-fuels” by the German auto maker Porsche. According to experts, ‘e-fuel’ is a climate-neutral fuel and is viewed as a replacement of gasoline for nonelectric vehicles. Development and mass production of such fuel will give a means to the German company as…
ExxonMobil has announced a dramatic mark down in the value of its natural gas assets, hitting the company already embattled throughout 2020. And with the company forecasting a more muted oil price recovery, the company also pledge to sharply reduce its spending ambitions. Incurring a non-cash charge of between $17 billion and $20 billion is…
According to sources familiar with the matter at hand, Amazon.com Inc is in talks to acquire podcast startup Wondery which has a valuation of more than $300 million. Sources have cautioned that negotiations are ongoing and there is no certainty that a deal will be struck. Last month, Bloomberg News had reported that both, Sony…
Uber Technologies is in advanced talks to sell “Uber Elevate”, its air taxi business, to aerospace firm Joby Aviation said sources familiar with the matter at hand. Uber did not immediately respond to requests for comments. With the news reaching the market, Uber’s shares rose by more than 6%. Earlier this year in January Hyundai…
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