While reporting better than expected first quarter trading, the British fashion retailer Next increased its profit guidance for the full year for the second time in a span of two months. The central guidance for its pretax profit in the 2021-2022 fiscal year was raised by it to 720 million pounds ($1 billion) compared to…
There was strong demand for its car models that delivers higher margins during the first three months of the year said the German car maker and the largest car maker of Europe, Volkswagen, which prompted the company to raise its operating margin target for the current year. An operating profit margin of between 5.5 and…
Despite a global semiconductor chip shortage, better than expected results for the first quarter was announced by General Motors Co as the company managed to keep costs low and focused on sale of pickup trucks and SUVs that deliver higher margins. The company expects its pre-tax profit for the current year to come in at…
EBay could be possibly accepting crypto currency a s mode of payment on the site sometime in the future and the company is currently seeking out ways and means to get non-fungible tokens (NFTs) on its platform, the company said. The virtual currencies as a form of payment is now being accepted by a growing…
In a statement SpaceX’s founder Elon Musk said, the company has received more than 500,000 preorders for its Starlink satellite internet service and anticipates no technical problems at meeting that demand. The “only limitation is high density of users in urban areas,” tweeted Musk in response to a post from a CNBC reporter that said the…
In a significant development, a strategic plan by the German government sees offshoots in new green financing norms aimed at steering capital towards environmental projects and developing Germany into a leading hub for sustainable finance. The Sustainable Finance Strategy which plans on listing 26 individual measures is scheduled to be adopted by the cabinet on…
On Tuesday, in a joint statement British electric van and bus maker Arrival stated, they will collaborate to develop an electric car for Uber Technologies Inc, which will go into production in late 2023. Uber and Arrival will also explore a strategic partnership in key markets, including the United States, EU and the United Kingdom/…
In a statement Apple Inc said, it has hired Samy Bengio, a former distinguished Google scientist who left the search engine giant following a turmoil in its artificial intelligence research department. Bengio is now set to lead a new AI research unit at Apple under John Giannandrea, senior vice president of machine learning and AI strategy,…
In a statement the chairman of Taiwan Semiconductor Manufacturing Co Ltd (TSMC) told U.S. broadcaster CBS that it expects to catch up with the “minimum requirement” for auto chips by customers by the end of June. Automakers are hard-pressed for auto chips and have shut assembly lines due to their shortage. Taiwan, home to a booming…
On Monday, cryptocurrency Ethereum hit a record high of $3,017 extending last week’s rally which came in the wake of a report that the European Investment Bank (EIB) could launch a digital bond sale on the ethereum blockchain network. The price of Ether rose by 2% on the Bitstamp exchange to hit this milestone. It…
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