Shell announced Friday that a 20-megawatt hydrogen electrolyzer, dubbed “one of the world’s largest,” has begun operating. The electrolyzer, which is located in Zhangjiakou, Hebei Province, China, will produce green hydrogen for fuel cell vehicles that will be utilized in Zhangjiakou’s competition zone during the Winter Olympics, which begin on February 4th. Commercial and public…
H&M, the Swedish clothes retailer, declared victory over the epidemic on Friday, claiming a higher-than-expected increase in quarterly profit and increasing investments with the goal of doubling sales by 2030. In early trading, shares in the world’s second-largest clothes retailer jumped 5 per cent after the company said it would quadruple its spending in 2022…
The demand for its telecoms equipment for 5G networks from all over the world offset its more market share losses in mainland China during the latest quarter which helped Ericsson to make quarterly core earnings forecasts that beat estimates, helping its shares to surge by 8 per cent. Since the banning of Chinese tech…
Unilever will slash approximately 1,500 managerial posts as the company strives to enhance growth following a failed purchase and with an activist investor to placate. The company will also reconfigure its business to focus on five core product categories. The company behind Dove soap and Magnum ice cream, which employs 149,000 people globally, announced on…
The mining behemoth owned by Australia’s richest man will purchase the Williams Formula One racing team’s battery and technology division for $222.2 million,. Williams Advanced Engineering and Williams Grand Prix Engineering, both situated in the United Kingdom, will be purchased by Fortescue Metals from private equity firm EMK Capital. The agreement aims to assist the…
Stocks of Kohl’s Corp jumped 36 per cent on Monday following a Reuters report that claimed that the private equity firm Sycamore Partners had approached the departmental store operator with an acquisition bid worth $9 billion. According to the report based on source information, Sycamore’s offer on Sunday said that the company was willing to…
Bitcoin and ether prices both fell drastically this week, wiping out almost $150 billion from the crypto market. According to Coin Metrics, bitcoin was trading around $36,000 late Friday, down nearly 15 per cent. Ether, the second-largest cryptocurrency by market capitalization, has dropped about 20 per cent to around $2,500. Cryptocurrency losses follow Thursday’s losses on…
According to a report published by Reuters, the social media company Snap Inc is accelerating its global expansion in nations – ranging from Mexico to Japan, by partnering with wireless carriers and promoting its famous augmented reality capabilities. The parent company of the Snapchat photo messaging app is banking on the app’s relative safety at…
The Anglo-Australian mining company Rio Tinto’s desire to become Europe’s leading supplier of lithium, a critic metal for manufacturing of electric vehicles was harmed on Friday when Serbia canceled its lithium exploration permits due to environmental concerns. Serbia’s decision comes as the country prepares for a general election in April, and as tensions between Belgrade…
Self-driving sensor maker Luminar Technologies Inc has struck a partnership with the luxury carmaker Mercedes-Benz for creating technologies and hardware for the development of fully automated cars fit for driving on the highways for the venture’s next-generation vehicles, said the founder of Luminar. A number of global auto companies, from Tesla to GM, are pursuing…
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