The challenges that are faced by the big banks in the current phase of pandemic were laid bare by the first quarter results of JPMorgan Chase & Co. The issue for the big banks is that the stimulus programs have helped individuals and businesses to achieve good financial shape but they have enough cash at…
On Tuesday, in a significant development Southeast Asia’s biggest ride hailing and food delivery startup Grab Holdings Inc confirmed a merger with Altimeter Capital-backed publicly-listed shell company backed, marking the biggest ever deal with a blank check firm.
In a statement Microsoft Corp said, it would acquire artificial intelligence and speech technology firm Nuance Communications Inc for around $16 billion. The development sees Microsoft’s expands in the cloud solutions for healthcare customers. The deal comes in the wake of a 2019 partnership wherein both companies had partnered to automate clinical administrative work including…
In a statement California’s Department of Motor Vehicles said autonomous driving startup WeRide has received a permit to test two passenger vehicles on California’s public roads without a safety driver. Nissan and Mitsubishi,backed WeRide, is also testing its driverless vehicle in China’s southern city of Guangzhou. Technology and automakers are investing billions of dollars in…
Those activists who had been hoping to establish the first unionised warehouse in the United States in Amazon have been defeated by the company. Labour officials said, workers at the Bessemer, Alabama warehouse voted 1,798 to 738 against the effort. That was a majority of the votes that were cast in the contest and according…
United States based software giant Microsoft Corp will be acquiring artificial intelligence and speech technology firm Nuance Communications Inc in a deal worth about $6 billion in cash, the company said on Monday. Analysts said that this is a part of the strategy of Microsoft to further its business in the area of cloud strategy…
In a massive breakthrough, Elon Musk’s brain-chip startup Neuralink released video footage showing a monkey playing a simple videogame after getting implants of the new technology. The 3-minute video shows Pager, a male macaque with embedded chips on each side of its brain, playing ‘Mind Pong’ and controlling the paddle by simply thinking about moving…
The European airplane maker Airbus saw a surge in deliveries of its planes in March because of a revival of air travel in China and the United States which resulted in its shares also surging. During the first quarter, slightly higher deliveries was reported by Airbus as the company also disclosed 39 gross orders, including…
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…
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