On Monday, in a statement Samsung Electronics Co Ltd said, the construction for a new domestic production line for NAND flash memory chips has begun following an increase in demand for personal computers and servers since the coronavirus induced lockdowns has boosted the number of people working from home. Samsung expects the new production line…
On Friday, in a statement Anhui Jianghuai Automobile Group (JAC Motors) said, Europe’s biggest carmaker, Volkswagen AG, has agreed to purchase 50% of its parent company Anhui Jianghuai Automobile Group Holding. The development sees VW further strengthening its grip on the electric vehicle market.
Dell Technologies Inc reported a rise in its quarterly revenues, which beat analysts’ estimates, on the back of a rise in demand for its workstations from companies which saw employees working from home due to the coronavirus outbreak. With the news reaching the market, Dell’s shares rose by 8.3% to $49.38 in extended trading. Revenues…
In a statement, citing a rise in demand, General Motors stated it will start boosting the number of vehicles produces in North America starting from next week. From June 1 GM’s crossover assembly plants in the United States and Canada will include two production shifts. Three of GM’s U.S. assembly plants which produce medium and…
In a tweet on Wednesday, Arizona’s Attorney General Mark Brnovich said “Google collects detailed information about its users, including their physical locations, to target users for advertising. Often, this is done without the users’ consent or knowledge”. Arizona has filed a consumer fraud lawsuit against Alphabet Inc’s Google alleging that the tech giant used “deceptive”…
On Thursday, China’s Tencent Holdings Ltd said, it has raised $6 billion in debt in what is the largest ever debt deal by an Asian company this year. According to a term sheet, the deal, which was finalized early on Thursday, saw Tencent raising $1 billion in five-year debt, $2.25 billion in 10-year, $2 billion…
According to a report from the Wall Street Journal, Amazon.com Inc is in advanced talks to acquire self-driving startup Zoox Inc. The potential acquisition will expand Amazon’s reach in autonomous-vehicle technology. In a funding round in 2018, Zoox was valued at at less than the $3.2 billion, reported WSJ citing sources familiar with the matter…
On Tuesday, ride hailing service provider Bolt stated, it has raised $109 million (100 million euros) from London-based investment firm Naya Capital Management in a deal which values the company at 1.7 billion euros. Bolt said, it will use the funds to further increase its market share in a sector deeply affected by the coronavirus…
On Friday, French Finance Minister Bruno Le Maire stated, unless Renault adapts it could disappear. The development underscores the amount of support the French automaker requires in order to cope with the fallout from the coronavirus pandemic. In an interview with Europe 1 radio, Le Maire stated, Renault’s French plant in Flins must not close…
Technology companies have begun developing their own contact tracing systems to help prevent and contain the spread of the coronavirus outbreaks in their offices. The development comes in the wake of countries begining to ease lockdown measures and return to the workplace. Juniper Networks Inc plans on equipping its nearly 10,000 employees with work identification…
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