Elon Musk’s Starlink satellite internet service receives 500,000 preorders

In a statement SpaceX’s founder Elon Musk said, the company has received more than 500,000 preorders for its Starlink satellite internet service and anticipates no technical problems at meeting that demand. The “only limitation is high density of users in urban areas,” tweeted Musk in response to a post from a CNBC reporter that said the…

Germany gathers speed in green financing norms

In a significant development, a strategic plan by the German government sees offshoots in new green financing norms aimed at steering capital towards environmental projects and developing Germany into a leading hub for sustainable finance. The Sustainable Finance Strategy which plans on listing 26 individual measures is scheduled to be adopted by the cabinet on…

Electric car, bus maker Arrival to develop electric ride-hailing car for Uber Technologies Inc

On Tuesday, in a joint statement British electric van and bus maker Arrival stated, they will collaborate to develop an electric car for Uber Technologies Inc, which will go into production in late 2023. Uber and Arrival will also explore a strategic partnership in key markets, including the United States, EU and the United Kingdom/…

Gig Economy Firms Oppose US Government Efforts To Reclassify Company Drivers As Employees

Companies in the so called gig economy including Uber, Lyft, Doordash and Instacart are trying to retain the status of their drivers as contractors – with some additional benefits as compensation, given the realization that the new administration in the United States under Joe Biden are insisting on reclassification of the workers in the ride-hail…

Europe Expansion Targeted By Chinese Electric Car Makers

The electric car makers of China are getting ready to expand into Europe following the growth in the largest auto market of the world last year. In the last few years, restrictions on full foreign ownership of local automobile production have been reduced significantly by Chinese authorities. However the government had also started preparing development…