In a statement LG Electronics Inc said, it has agreed to set up a $1 billion joint venture (JV) with automotive supplier Magna International Inc. The JV, tentatively called LG Magna e-Powertrain, will manufacture e-motors, inverters and onboard chargers, according to LG Electronics.
Walmart, the largest retailer of the world, is set to launch a new service to try and find a solution to one of the biggest points of pain for online shopping — the dreaded return of goods. The company has struck a new partnership with the delivery giant FedEx through which the company will be…
While expressing confidence that the Codi-19 vaccine developed by his company was effective against the new United Kingdom variant of the virus, the chief executive of the German pharmaceutical company BioNTech said that one has to conduct more studies to be absolutely certain. Efforts were currently on in the company to ascertain whether the company’s…
According to sources familiar with the matter at hand, Apple Inc is moving ahead with plans on self-driving car technology and is targeting to produce a passenger vehicle by 2024. The self driving passenger vehicle could feature its breakthrough battery technology, said sources familiar with the matter at hand. Apple’s automotive efforts, known as Project…
An Indian short-video sharing app, Josh, has raised more than $100 million from investors including Microsoft, and Google, in a growing space that further eats into TikTok’s market share. Josh is one of several short video platforms have cropped up after India blocked the Chinese consumer data harvesting app in June. Josh has drawn global…
He is “certain” that Boeing’s grounded 737 Max planes are now safe to fly, said the head of Europe’s aviation safety agency, EASA, in an interview to the BBC. In the review of the Boeing plane and the analysis of design changes made by the manufacturer in the planes, his organisation had “left no stone…
It is well known that viruses mutate all the time. Every year there is mutation of the seasonal influenza virus. Therefore scientists were not surprised that variants of the novel coronavirus – that causes Covid-19, were detected since the pandemic had begun. However a new strain of the Cvoid-19 causing virus in recent days has…
After a slew of impairments this year and with the company trying to adjust to a weaker outlook, the value of oil and gas assets by $3.5 billion to $4.5 billion will be written down by Royal Dutch Shell, the company said on Monday. The impairments on its Appomattox field in the US Gulf of…
According to two sources briefed on the matter at hand, U.S. lawmakers will back $1.9 billion program to fund a removal of Chinese communication gear that it deems as a threat to national security risks. Lawmakers will also back a $3.2 billion program for an emergency broadband which will benefit low-income Americans, confirmed senior congressional…
A cyber attack that compromised a third-party software vendor’s systems rattled the United States government this week which resulted in data breaches at a number of federal agencies, including the Department of Commerce, the Department of Energy and the Department of Homeland Security’s cyber unit. But many of the biggest companies in the country have…
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