Dutch insurer NN Group’s asset management arm will be purchased by Goldman Sachs in a deal worth about 1.7 billion euros ($1.98 billion), the bank said. This is the largest takeover by the United States based investment bank since 2018 when David Solomon became chief executive. According to analysts, this deal is a part of…
United States based Intel Corp announced its plans for sourcing subcomponents of its chips from external factories as a part of its turnaround strategy, new details of which were provided by the company earlier this week. The company plans to source chip components from suppliers including through partnerships with rival Taiwan Semiconductor Manufacturing Co (TSMC),…
Japans auto major Toyota Motor Corp has become the last major global auto company to cut down its production because of the global chip shortage as the company announced a cut in its global production of vehicles for September by as much as 40 per cent compared ot its previous target. The company has however…
Consumers in the United States stepped out of their home more with the lifting of Covid-19 pandemic related restrictions and into stores and were reported to make purchases of more clothes, travel gear and back-to-school merchandise, which drove Walmart Inc to increase it annual U.S. same-store sales forecast. The company also beat analysts’ estimates for…
On Thursday, a group of 7 British organizations including startup Britishvolt, battery materials company Johnson Matthey, and Oxford University said, they had formed a consortium to develop solid-state batteries for electric vehicles. The group plans on building a facility to develop technologies and prototypes for the mass production of solid-state batteries. The consortium also includes…
In a statement Ford Motor Co said, it will temporarily close its Kansas City assembly plant which builds its best-selling F-150 pickup truck because of a shortage of semiconductor-related parts. The shortage is caused by the COVID-19 pandemic in Malaysia. Production is slated to resume in August 23, said the U.S. automaker while adding, it…
Hackers have stolen personal data of more than 40 million former and prospective its customers, including information about social security numbers and driver’s license information, said T-Mobile US Inc on Wednesday, following revelation of the data after an investigation. Data from 7.8 million existing T-Mobile wireless customers was also among the data that was stolen.…
With easing of pandemic induced restrictions in recent months, more shoppers stepped out of their homes to visit the stores of Target Corp and purchased clothes and other school related essential products, helping the retailer to beat estimates of analysts for same-store sales for the quarter. However there was a decline in online sale of…
On Wednesday, in a statement T-Mobile US Inc said, following an investigation into a cyberattack on its systems it has found that personal data of around 7.8 million of its current postpaid customers have been compromised. T-Mobile US was made aware of the attack late last week following a claim in an online forum that personal…
On Wednesday, Chinese tech giant Baidu said, it has started mass-producing its second-generation Kunlun artificial intelligence (AI) chips, as it races to become a major player in the chip industry with Beijing’s backing. In a statement Baidu said, the second-generation Kunlun AI chips, using 7 nm process technology, produced computational speeds of two-to-three times faster…
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