In a statement U.S. Trade Representative Katherine Tai and South Korean Trade Minister Yeo Han-koo said, the two discussed supply chain resiliency, climate change and reforming the World Trade Organization. In a virtual meeting, both officials “agreed on the importance of a strong U.S.-Korea bilateral trade relationship and committed to maintaining an open dialogue moving…
In a statement, Illinois, Senator Dick Durbin said, Samsung SDI Co Ltd plans on building a battery plant in central Illinois. Electric-vehicle startup Rivian has a factory in Normal, Illinois. In April it said Samsung SDI would supply battery cells for its vehicles. “We are competing for a major Samsung battery facility. The delegation came in…
The Swiss-based soft drinks bottler Coca Cola HBC has agreed to invest to take over a majority stake in Coca-Cola Bottling Company of Egypt in a deal worth $427 million. Coca Cola HBC earlier reported a large growth in its profits for the first half of the year, The investment will be made through a…
Chinese search engine giant Baidu beat Wall Street estimates for its latest completed quarter as the company’s financials were driven up by a rebound in advertising sales and stronger demand for the artificial intelligence and cloud products offered by the company. The current Chief Financial Officer (CFO) of the company, Herman Yu, has been appointed…
China’s Geely Holding-owned Volvo Cars will temporarily stop production at its Swedish plant in Gothenburg because of a shortage of semiconductors. A global crunch of chips has hit carmakers hard, with many forced to cut down on production. Electronic device makers are also struggling to keep up with a pandemic-led demand for gaming consoles, phones,…
Those customers who would be injured or suffer property damage from defective products that are sold by others on its e-commerce platform in the United States would be compensated by Amazon.com Inc, the largest e-retailer of the world said on Tuesday. This new policy is aimed at reducing litigations against the company. The largest…
Following reporting of better than expected earnings for the latest completed quarter, the CEO of Tyson Foods Inc Donnie King said on Monday that the pace of increase of prices by the company for its chicken and prepared foods products is unable to keep paced with the rising costs for raw materials such as grain.…
In a statement the U.S. Securities and Exchange Commission said, Poloniex has agreed to settle its charges of running an unlicensed cryptocurrency exchange for around $10.4 million. The terms of the settlement includes Poloniex agreeing to settle without admitting or denying the charges. Launched in 2014, Poloniex was acquired by Circle in 2018, which incidentally…
During a call with analysts, the CEO of cinema operator AMC Entertainment said, by the end of 2021, it will have technology in place to receive payments in bitcoin for the purchase of movie tickets and concessions.
A manager of the Chinese technology giant Alibaba is set to be sacked by the company over allegations of rape, claimed multiple reports quoting information from a company memo. Two other bosses who failed to act on the allegation have resigned, according to a letter from the chief executive of the company Daniel Zhang to…
