According to three sources familiar with the matter at hand, SpaceX’s valuation could be a minimum of $60 billion as it finalizes a funding round which could close in February. SpaceX’s latest funding round is expected to price each share between $325 and $350. Details of the deal are still being ironed out, said sources…
U.S. sanctions against China’s Huawei have hit their marks: its smartphone shipments have fallen by 4% during the December quarter, according to shipment data. According to data from research firm Canalys, Huawei’s market share in China slumped to 22% from 38% in the year-ago quarter. However, it continues to remain the market leader with a…
In a significant development, General Motors Co said, all of its new cars, including light pickup trucks, and SUVs will have zero tailpipe emissions by 2035. The development marks a significant shift away from diesel and gasoline powered engines by the biggest U.S. automaker. GM has also said, it plans on becoming carbon neutral by…
In a statement electric-vehicle maker Faraday Future stated, it will go public through a merger with blank-check firm Property Solutions Acquisition Corp in a deal that values the combined company at $3.4 billion. The deal marks the latest firm to take the SPAC route to enter the public market. Los-Angeles-based Faraday joins a growing list…
With more countries starting to implement mass immunization programs against eth Covid-19 disease, there is a gradual improvement in the outlook for the global aviation industry, said Tony Fernandes, CEO of AirAsia. According to Fernandes, while the airline, one of the largest low budget airlines of Asia, expects to restart operations within “a large part”…
The United States based pharma company and the developer of one of the few Covid-19 vaccines that have gained wide approval – Moderna, has said that it is striving to speed up work for developing a booster dose of the vaccine which will act as a safeguard for the new variant of the novel coronavirus…
The novel coronavirus pandemic has offered an immediate business opportunity to Verily, a healthcare venture of Alphabet Inc and is considered to be one of the most prominent among the “other bets” of the tech giant. In a major shift in its core operations, the company deployed many of its about 1,000 employees, who were…
According to two sources familiar with direct knowledge of the matter at hand, Huawei Technologies Co Ltd is in early-stage talks to sell its premium smartphone brands P and Mate, in a move that could potentially see the Chinese company exit from the high-end smartphone-making business. Negotiations between Huawei and a consortium led by Shanghai…
On Monday, in a statement Taiwan Semiconductor Manufacturing Co Ltd (TSMC) stated, it will prioritize production of auto chips if it is able to further boost production, said Taiwan’s Economics Ministry after Minister Wang Mei-hua spoke to senior company executives. On Sunday, TSMC had told the ministry that they will “optimise” the production process of…
The potential of the new Covid-19 variant first identified in the United Kingdom to cause more damage than the original one according tp “some evidence”, said British Prime Minister Boris Johnson. “We’ve been informed today that in addition to spreading more quickly, it also now appears that there is some evidence that the new variant…
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