On Wednesday, Mercedes-Benz and Zhejiang Geely Holding Group Co Ltd stated, they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build “premium and intelligent electrified” vehicles under the smart brand. The 50:50 joint venture has already got regulatory approval and will be based in the Chinese coastal city of Ningbo,…
On Wednesday, Finablr Plc stated, its foreign exchange firm Travelex was forced to go offline due to a ransomware attack by a virus known as Sodinokibi. Travelex had contained the spread of the ransomware, which is also known as Revil, said UAE-based payment solutions Finablr while adding that it currently does not anticipate any material…
On Tuesday, Tesla Inc stated, it has started work on building its Model Y electric sports utility vehicles (SUV) at its $2 billion China factory in Shanghai. The development comes in the wake of Tesla starting to deliver its Model 3 sedans which were built at its Shanghai factory which was up and running in…
On Tuesday, Uber Technologies Inc and Hyundai Motor stated, they plan on a joint development of electric air taxis, as they push further to ease the menace of urban congestion. Hyundai is set to unveil its concept electric aircraft which it developed with Uber, at the Consumer Electronics Show (CES) in Las Vegas. The model…
On Tuesday, Singapore’s central bank stated, it has received 21 applications for digital bank licenses which includes 7 licenses for retail banking while the balance is for wholesale bank licenses. The development marks Singapore’s biggest liberalization of its banking sector in two decades as it pushes to bring about online-only banks which will have lower…
On Tuesday, the White House proposed regulatory principles to govern the development and use of artificial intelligence (AI) aimed at limiting authorities’ “overreach”; it also said, it wants European authorities to follow its lead and avoid aggressive approaches. Producing a fact sheet the White House said, federal agencies should “conduct risk assessment and cost-benefit analyses…
At CES, the big technology industry show, Toyota unveiled its plans to develop a “Woven City”, which will be built at the site of a factory that is planned to be closed. The “Woven City” is a reference to Toyota’s early beginnings as a loom manufacturing company. The city will serve as a home to…
On Monday, Brazilian President Jair Bolsonaro stated Brazil will not impose a tax on solar energy. The support will boost Brazil’s development of clean sources of power. Bolsonaro’s statement comes in the wake of Brazilian power regulator Aneel saying it will is weighing the pruning of incentives for solar power.
In a statement Samsung Electronics said, it will introduce innovative and new devices in San Francisco on February 11. Analysts and consumers widely expect Samsung to unveil its new foldable phone and a new version of its flagship S model as it moves to maintain its lead and consolidate its position in the emerging foldable…
On Monday, South Korean restaurant owners expressed concern over food delivery giant Delivery Hero’s $4 billion planned acquisition of its local rival, Woowa Brothers, subject to regulatory approval. The move could undermine competition and lead to higher fees feel South Korean restaurant owners. In December 2019, Delivery Hero, the second-largest food delivery app operator in…
