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…
According to a research conducted in the United States, the first known infection of Covid-19 happened to a market vendor in the Chinese city of Wuhan, and not an accountant who appeared to have no connection to the market but whose case contributed to concerns that the virus may have leaked from a lab. The…
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.…
As the globe learns to live with the coronavirus, AstraZeneca said it will start to generate a small profit on its coronavirus vaccine, even as the pharmaceutical firm is in talks with several governments about further orders of its Covid-19 vaccine for delivery next year. During the pandemic, a pledge was made by AstraZeneca of…
The least growth in memberships in Disney+ since the video streaming services was launched by Walt Disney Co to compete with Netflix Inc was reported on Wednesday by the company. The numbers reported by the company were much lower than expectations of Wall Street projections. The announcement resulted in the stocks of the company going…
The market value of the Amazon-backed electric vehicle maker Rivian Automotive Inc crossed the $100 billion following as much as a 53 per cent surge in the shares of the company on Wednesday at its debut at Nasdaq in what was the largest initial public offering so far this year. The stocks of the company…
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