The world’s largest brewer Anheuser-Busch InBev would be selling out its Australian business to Japanese firm Asahi. Following the company confirming this agreement, there was a spike in its shares. The company also added that it was still contemplating taking public its Asian business operations. There was a 4 per cent spike in the shares…
The latest auto maker to issue profit warnings for the current year was Volvo as the Swedish auto company announced its plans of cost cutting of its fixed expenses by as much as 2 billion Swedish crowns or $214 million. The company said that its profitability was being dented by pricing pressure and the tariffs…
The computing center is of strategic importance since it will provide self-driving cars the required computing power to analyze real-time data including road and traffic conditions. On Friday, BMW stated, it is partnering with China’s Tencent Holdings to launch a computing center in China which will help develop self-driving cars. The computing center is expected…
General Motors Co, the largest auto maker of the United States, is all set to take on the high-performance European cars as it announced the launch of its newly designed mid-engine 2020 Corvette, even as the company faces headwinds of a slowdown in global vehicles demand and an uncertain trading environment. The new vehicle, being…
Amazon has come under scrutiny over its dual role as a marketplace for merchants as well as their competitor. In a significant development, antitrust regulators in the European Union are increasing their scrutiny on Amazon over its usage of merchants’ data. The development underscores increasing regulatory scrutiny over how tech companies exploit customers’ information. Facebook,…
The electrification of the auto industry is taking place at a neck breaking speed. Much of its success will depend on cost effective access to batteries which will power these electric vehicles. In a significant development, Japan’s Toyota Motor Corp has agreed to partner with China’s Contemporary Amperex Technology Co Ltd (CATL) to supply and…
Given that drones can take footage of sensitive sites, and that China has a market share of around 75% of the global drone market, there are legitimate concerns of privacy and national security. The world non-militarized drone market, dominated by Chinese manufacturers such as DJI, is said to triple in size to $14.3 billion in…
This is a milestone in the practical implementation of cryptocurrency, which is slated to be the future of money. On Thursday, in a significant development, the government of Japan stated, it is leading a global push to install an international network for cryptocurrency payments, just like the SWIFT network used by banks. The effort is…
Renault move is aimed at tapping China’s growing electric vehicles market. In a deal which sees French carmaker Renault taking a 50% stake, the carmaker has formed a joint venture partnership with China’s Jiangling Motors Corporation Group (JMCG) to target the Chinese electric vehicles (EV) market. In a statement Renault said, it would increase its…
Korean workers who were once forced to work for the Japanese company Mitsubishi during the colonial-era now want a court to pass a verdict which would allow compensation of their ordeals for forced labor back then from the sale of assets of their former Japanese employer. It has been years that the issue has been…
