With the growth of global electric vehicle (EV) industry, auto makers are now rushing to build facilities to allow them to make the powerful batteries required to power EVs. One of the latest in that race is partnership between Stellantis, a new entity that came into being last year by the merger of Fiat Chrysler…
More than 10,000 people are likely to be hired by social media giant Facebook in the European Union for the purpose of developing a so-called metaverse. A metaverse is described as an online world where users are able to play games, work and communicate with each other in a virtual environment, often using VR headsets.…
The banking group UBS AG was sanctioned this week by the United States Commodity Futures Trading Commission (CGTC) a fine of $500,000 over charges that the bank had not been able to keep in its custody some specific audio recordings till such time that it was required to according to regulations, the agency said. “The…
Tens of thousands of legal claims that alleged that Johnson & Johnson’s Baby Powder and other talc-based products were responsible for causing cancer were put in bankruptcy by the company, with the potential liabilities being transferred to a subsidiary that has been recently formed by it. According to the company and court records, J&J put…
The CEO of Kraft Heinz says that consumers will have to go along with to higher prices for food. According to Miguel Patricio, the head of the international food giant, which makes tomato sauce and baked beans, is raising prices of its products in a number of countries. He said that inflation was “across the…
Permission to end late-stage trials of their generic versions of Merck & Co’s promising experimental oral antiviral drug molnupiravir to treat moderate Covid-19 has been sought by two Indian pharmaceutical companies. It was just a week ago that Merck had announced success of its own trial for mild-to-moderate patients being treated with the medicine. Development…
India’s largest conglomerate the Tata group has been sold the country’s loss making national carrier Air India in a deal worth almost $2.4bn. Tata was the highest bidder for the airline that was put up for sale by the Indian government. Originally, the airline was founded by The Tata group in 1932 and was later…
After a sale of shares by the current investors which was announced earlier this week, the market valuation of Elon Musk’s SpaceX crossed $100 billion, said reports quoting sources. According to multiple people familiar with the matter, SpaceX has reached an agreement with new and existing investors to sell up to $755 million in…
The China Evergrande Group, which has recently caught the global attention because of its astronomically high debt and the concerns of its collapse having a widespread impact on the global economy, has been sued by two Hong Kong property agencies over commissions unpaid to the agencies, according to reports based on a court filing This…
According to data that experts praised as a possible milestone in how the Covid-19 causing virus is handled, an experimental antiviral medicine produced by Merck & Co has shown the potential to half the risks of dying or being hospitalised for people most at risk of acquiring severe case of Covid-19. If approved, molnupiravir, which…
