According to a source familiar with the matter at hand, Hyundai Motor Group has agreed to acquire a 80% stake in Boston Dynamics from SoftBank Group in a deal worth around $736 million to $828 million (800 billion to 900 billion won). The development assumes significance since Hyundai can leverage the technology to expand automation…
The impending emergency use authorization of Pfizer’s Covid-19 vaccine in the United States is a major money making ticket for the company and its partner in the vaccine development. Within the next year alone, $32 billion in revenues from sale of Covid-19 vaccines will be generated by Pfizer and Moderna, according to projections by Wall…
An additional grant of $250 million was pledged by the Bill and Melinda Gates Foundation this week for the purpose of supporting the development and distribution of Covid-19 treatments and vaccines that were of low costs and were much easier to distribute and deliver to the common people. This latest contribution to the cause is…
According to sources familiar with the matter at hand, Chinese electric vehicle startup Great Wall Motor plans on launching a new standalone brand for electric and smart vehicles in China, as it tries to pursue growth in this burgeoning segment. Inspired by U.S. technology and auto giant Tesla Inc, several Chinese automakers have announced plans…
The stakes for the United Kingdom have never been as high with days left for it to reach a trade deal with the European Union. But the three sticking points of fishing rights, government aid for companies and how disputes are settled stull threaten to collapse the trade talks. While costs for UK companies would…
In a statement Uber Technologies Inc said, it is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora; the development underscores Uber Technologies Inc’s drive to accelerate its goal to achieve profitability. According to sources familiar with the matter at hand, the equity deal values ATG at $4 billion,…
Increasing chances of defaults and ultra-low interest rates are the two major headwinds that would be faced by global banks next year, believes Piyush Gupta, the chief executive of Singapore’s largest bank DBS. Gupta said that the economic hit of the novel coronavirus pandemic has been cushioned to a great extent by government support around…
In a statement the head of cyber security at the United Arab Emirates stated the Arab state is facing increased incidents of cyber attacks after establishing formal ties with Israel. In August, breaking a decades old policy, in a landmark shift the UAE agreed to formally establish diplomatic ties with Israel, Following the move, Bahrain…
In an interview, to Germany’s Wirtschaftswoche weekly magazine, Herbert Diess, Volkswagen’s CEO stated the carmaker expects autonomous vehicles to be ready for sale between 2025 and 2030. Improvements in artificial intelligence, as well as improvements in the performance of computer chips are speeding up the development of autonomous vehicles. “It is foreseeable that the systems…
Despite the presence of billions of dollars in emergency World Bank funding, healthcare was either not available or had to be purchased during the novel coronavirus pandemic by millions of people in low-income countries of the world, a new research has concluded. According to an Oxfam report published on Friday, efforts to strengthen health systems…
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