In the wake of the coup in Myanmar in February, a review of how it would bring to an end a joint venture in the country with a company that is controlled by the military there is being conducted by South Korean steel making giant POSCO, said a report from the news agency Reuters quoting…
The Swiss bank Credit Suisse lost nearly $4.7 billion as well as the jobs of its two top executives because of the collapse of US hedge fund Archegos Capital last month. After taking a charge of 4.4 billion Swiss francs ($4.7 billion) in relation to the failure of Archegos, the bank was likely to report…
An auto industry group in the United States has it warned that the shortage in the global semiconductor market is likely to result in 1.28 million fewer vehicles manufactured this year and disrupt production for the coming six months. In a written response to a government-initiated review, the Alliance for Auto Innovation said the U.S.…
On Tuesday, Isuzu North America Corp and silicon Valley self-driving startup Gatik said, they will collaborate to build autonomous delivery trucks which will be used by Gatik to serve its retailer customers. Gatik works with Walmart Inc in Louisiana and Arkansas and with Loblaw Companies Ltd in Canada to deliver goods to stores from warehouses…
Thailand will consider as its “principal vaccine” against Covid-19 the coronavirus shot developed by AstraZeneca and the University of Oxford with this Asian country trying to reopen and revive its tourism industry which is a crucial one for the country, said the country’s public health minister in an interview to a television channel. There were…
Following reports of the better than expected and record deliveries made by the United States based electric car maker Tesla in the first quarter of the year, the shares of the company surged on Monday to the extent that the company is now poised to add about $50 billion to its market value. The strong…
In a significant development sees cryptocurrencies increasingly gaining traction, on Monday the Bank of Japan (BOJ) has started feasibility study of issuing its own digital currency, joining efforts by other central banks that are aiming to match the innovation in the field achieved by the private sector. In a statement the BOJ said, during the…
A group of hackers are offering data, including phone numbers, on more than 500 million Facebook users, for almost free of charge. The database appears to be the same set of Facebook-linked data that has been circulating in hacker circles since January 2021 and whose existence was first reported by tech publication Motherboard, according to…
On Monday, in a significant development South Korea’s LG Electronics Inc said it will stop the production and sales of its loss-making smartphone division. Earlier this year in January, LG had announced that it was considering all options for the business after recording nearly six years of losses totaling to nearly $4.5 billion. Talks to…
In a statement an official from the White House said, two top-level White House aides will host a meeting on the resiliency of the U.S. supply chain midst a broader policy review on the issue. According to Jen Psaki, White House’s press secretary, the meeting would be hosted by President Joe Biden’s top economic aide,…
