An investment of $350 million will be made in the Plymouth, Michigan-based company and all-electric vehicle maker Rivian by automotive services company Cox Automotive, the company announced on Tuesday. Rivian is considered to become a potential rival for the established all electric auto makers such as Tesla and the like with additional support from such…
The Japanese investing firm SoftBank was ignored by the WeWork owner The We Company with relation to the workplace sharing and renting company’s planned initial public offering as the United States based firm is contemplating bringing down its IPO valuation to $20 billion, according to reports quoting sources. SoftBank has been pushing The We Company…
The Hong Kong Stock Exchange (HKEX ) has proposed to acquire the London Stock Exchange (LSE) with an offer of almost $36.6 billion. The company said in a statement that the Hong Kong Stock Exchange has time till October 9 to make a final and firm offer for the purchase or to withdraw the proposal…
An era ended at the Chinese e-commerce giant Alibaba with the stepping down of its founder chairman Jack Ma on Tuesday. The company that he had cofounded in 1999 became one of the largest internet based company in the world. Ma is also considered to be one of the most recognizable businessmen globally from China…
Even as the ousting of its former chairman Carlos Ghosn is still hurting Japanese car maker Nissan, the company’s CEO Hiroto Saikawa has resigned. Analysts say that this could affect the company’s efforts of a turnaround since the company business has been struggling in the wake of the global controversy surrounding the arrest and subsequent…
A stronger than expected and across-the-board rise of 0.3 per cent in economic activity in the month of July has helped recede the fears of a recession, the first in a decade, that was looming on the British economy. Following a dismal spring and early summer, the first month of the third quarter saw growth…
South Korea’s largest automotive company Hyundai Motor had joined the joint venture of Volkswagen, BMW, Daimler and Ford – called Ionity, which is engaged in development and manufacture of electric vehicle charging points and equipment in Europe. This announcement was made by the joint venture on Monday. The aim of the joint venture is to…
The airline safety body of the European Union has said that it would conduct its own tests for safety of Boeing’s 737 Max planes before it allows the crafts to fly again and will not automatically accept the flying recertification by the United States FAA in this regard. This is a marked departure from its…
“Revenge porn” has become one of the most profit making business sections for the owners of porn streaming site Pornhub, claiedm a news report from the BBC, which also added that the site also is failing to remove such videos once even after they are objected to and reported. The report quoted one woman, “Sophie”…
Any more rate cut by the central bank of Europe could do more harm than good, warned Germany’s top banker. “It will have serious side effects,” Deutsche Bank CEO Christian Sewing said Wednesday at a banking conference in Frankfurt. When the European Central Bank meets later this month, both investors and companies expect that there…
