In a statement, Illinois, Senator Dick Durbin said, Samsung SDI Co Ltd plans on building a battery plant in central Illinois. Electric-vehicle startup Rivian has a factory in Normal, Illinois. In April it said Samsung SDI would supply battery cells for its vehicles. “We are competing for a major Samsung battery facility. The delegation came in…
Chinese search engine giant Baidu beat Wall Street estimates for its latest completed quarter as the company’s financials were driven up by a rebound in advertising sales and stronger demand for the artificial intelligence and cloud products offered by the company. The current Chief Financial Officer (CFO) of the company, Herman Yu, has been appointed…
China’s Geely Holding-owned Volvo Cars will temporarily stop production at its Swedish plant in Gothenburg because of a shortage of semiconductors. A global crunch of chips has hit carmakers hard, with many forced to cut down on production. Electronic device makers are also struggling to keep up with a pandemic-led demand for gaming consoles, phones,…
In a statement the U.S. Securities and Exchange Commission said, Poloniex has agreed to settle its charges of running an unlicensed cryptocurrency exchange for around $10.4 million. The terms of the settlement includes Poloniex agreeing to settle without admitting or denying the charges. Launched in 2014, Poloniex was acquired by Circle in 2018, which incidentally…
During a call with analysts, the CEO of cinema operator AMC Entertainment said, by the end of 2021, it will have technology in place to receive payments in bitcoin for the purchase of movie tickets and concessions.
PepsiCo Inc signaled its intentions to further simplify its product range and shift away from high-sugar drinks through the selling of its Tropicana and other juice brands in North America in a deal worth $3.3 billion to the French private equity firm PAI Partners, the beverage giant said on Tuesday. The orange juice maker had…
In a statement Veoneer Inc said, it would start acquisitions negotiations with chipmaker Qualcomm Inc after its offer for the Swedish auto parts maker topped a rival bid by Magna International Inc. Qualcomm’s offer could “reasonably be expected to result in a ‘Superior Proposal’, as defined under the terms of Veoneer’s merger agreement with Magna,”…
On Friday, in a statement South Korea’s SK Group said, it will invest up to $100 million in the fintech unit of AirAsia Group Bhd. BigPay, a unit of AirAsia’s digital arm, offers a prepaid debit card, local and international money transfers, micro-insurance, bill payments and a budgeting tool. “Our ambition has always been to establish…
In a statement the U.S. Federal Trade Commission said, Facebook Inc made “misleading claims” to explain why it had disabled the accounts of researchers studying political ads on its social media platform. Earlier this week on Tuesday, Facebook cut off the personal accounts and access of the New York University researchers citing users’ privacy concerns.…
The second quarter results of Adidas were significantly impacted by a boycott of Western brands by Chinese consumers, the company reported while also reporting hit to the quarter’s business because of closure of factories in major supplier Vietnam due to a fresh outbreak of Covid-19 infections. Despite this, its forecast for the entire year with…
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