Japanese conglomerate Toshiba has confirmed recent reports of the company being made an offer of about $20bn for an acquisition by a British private equity fund. After confirming the bid by CVC Capital Partners that it got, trading in the stocks of the scandal hit firm was temporarily halted on Tokyo’s stock exchange. According to…
In a statement General Motors Co’s President Mark Reuss said, the company is testing a variety of battery chemistry technologies and manufacturing processes aimed at slashing the cost of future electric vehicle batteries and reducing its dependence on such price-sensitive metals including cobalt. While speaking at an investor conference, Reuss said “GM is experimenting with…
In a report a South Korean newspaper said, SK Hynix Inc, the world’s second-largest memory chip maker, is close to signing a long-term deal to provide automotive memory chips to German auto supplier Robert Bosch GmbH. Both companies are negotiating for a 10 year or more auto memory chip supply chain, reported South Korea’s Maeil…
The Swiss bank Credit Suisse lost nearly $4.7 billion as well as the jobs of its two top executives because of the collapse of US hedge fund Archegos Capital last month. After taking a charge of 4.4 billion Swiss francs ($4.7 billion) in relation to the failure of Archegos, the bank was likely to report…
An auto industry group in the United States has it warned that the shortage in the global semiconductor market is likely to result in 1.28 million fewer vehicles manufactured this year and disrupt production for the coming six months. In a written response to a government-initiated review, the Alliance for Auto Innovation said the U.S.…
On Tuesday, Isuzu North America Corp and silicon Valley self-driving startup Gatik said, they will collaborate to build autonomous delivery trucks which will be used by Gatik to serve its retailer customers. Gatik works with Walmart Inc in Louisiana and Arkansas and with Loblaw Companies Ltd in Canada to deliver goods to stores from warehouses…
Thailand will consider as its “principal vaccine” against Covid-19 the coronavirus shot developed by AstraZeneca and the University of Oxford with this Asian country trying to reopen and revive its tourism industry which is a crucial one for the country, said the country’s public health minister in an interview to a television channel. There were…
Following reports of the better than expected and record deliveries made by the United States based electric car maker Tesla in the first quarter of the year, the shares of the company surged on Monday to the extent that the company is now poised to add about $50 billion to its market value. The strong…
In a significant development sees cryptocurrencies increasingly gaining traction, on Monday the Bank of Japan (BOJ) has started feasibility study of issuing its own digital currency, joining efforts by other central banks that are aiming to match the innovation in the field achieved by the private sector. In a statement the BOJ said, during the…
A group of hackers are offering data, including phone numbers, on more than 500 million Facebook users, for almost free of charge. The database appears to be the same set of Facebook-linked data that has been circulating in hacker circles since January 2021 and whose existence was first reported by tech publication Motherboard, according to…
