According to a report from CNBC which citing sources familiar with the financing, Elon Musk’s SpaceX has completed an equity funding round of $850 million which sent its valuation soaring to nearly $74 billion. SpaceX raised the funds at $419.99 a share, said the report. SpaceX did not immediately respond to requests for comments.
In a significant development, data firm IHS Markit stated, the shortage of chips in the auto semiconductor sector is likely to impact around 1 million units of global light vehicle production during the first quarter. The announcement sees a major jump from its previous forecast. On February 3, in a report HIS Markit had stated,…
Driven by the positive sentiments among investors of continued greater acceptance amongst mainstream investors of the biggest crypto currency of the world bitcoin, the value of the digital currency surged past $50,000 mark for the first time in its history. A new high of $50,602 was reached by bitcoin and was ended with a rise…
Stricter border checks kin Germany for crucial auto parts is delaying the deliveries to factories which is forcing the companies to closing down manufacturing units and this has emerged as a new threat to the very crucial car manufacturing industry. Following the implementation of stronger Covid-19 checks and immigration rules at its borders with Austria,…
The United States based electric car making global leader Tesla Inc will be setting up an electric car manufacturing facility in the southern Indian state of Karnataka, claimed multiple reports quoting information gathered from a government document which the reports claimed to have seen. “The US firm Tesla will be opening an electric car manufacturing…
The vaccine candidate against Covid-19 that is being developed jointly by the French drug maker Sanofi and Translate Bio of the United States “will not be ready this year”, announced the French firm’s chief executive in an interview to Le Journal du Dimanche newspaper. The company executive said that it is likely that the company…
In a report, Bloomberg News said, China’s ByteDance is exploring the sale of TikTok’s Indian operations to rival Glance, a unicorn. Negotiations, initiated by Japan’s SoftBank Group Corp, early, private, and complex, said the report citing sources people familiar with the matter at hand. InMobi’s short-video app Roposo has gained more market share in India after…
According to a top official from the Securities and Exchange Commission (SEC), a clear cryptocurrency regulatory regime is urgently required with major companies, including Mastercard Inc, Tesla Inc, and BNY Mellon Corp embrace the digital asset class. During an interview, Hester Peirce, a Republican commissioner at the SEC said, while it may be too soon…
In a statement, Microsoft Corp’s President Brad Smith said, the SolarWinds hacking campaign that used the U.S. tech company as a springboard to compromise many U.S. government agencies is “the largest and most sophisticated attack the world has ever seen”. The hacking campaign, identified in December 2020, was allegedly orchestrated by China and Russia, had…
Manufacturing for the Learjet, once regarded as aircraft that was very popular as a luxury private jet for the super-rich, will be discontinued after the last of the planes is built in 2021, said the manufacturer of plane Bombardier With the wealthy customers – getting wealthier, starting to demand even larger and more comfortable private…
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