Tesla has become incredibly profitable. After reporting its first ever annual profits for 2019 this January, the first time that the company had made an annual profit despite using the strict accounting measures for judging net income and losses, the United States based electric car maker followed that up with a successful first quarter of…
Even though the Disney park in Shanghai in China has been able to reopen, all of its other amusement parks all around the world still remains shut because of the coronavirus pandemic. According to analysts, the company could be facing loss of earnings of as much as $1 billion before interest and taxes every month…
A collapse of global oil prices that was further accentuated by the novel coronavirus pandemic has forced a 25 per cent drop in the profits of Saudi Arabia’s state-owned oil company, Saudi Aramco. For the first quarter of the year, net profits of 62.48bn riyals ($16.64bn) was reported by the most profitable company of the…
After being forced to test out work from home because of travel restrictions and lockdowns by governments all across the world to prevent the spread of the novwl coronavirus pandemic, the social media company Twitter has now directed its staff that anyone who wishes to and are able to work from home could do so…
In a significant development, Estonia’s parliament has approved a new law – Electronics Communications Act – to ensure that proper security reviews are undertaken for the installation of telecom equipment for future communication networks. The law, which lawmakers dubbed the “Huawei law” in reference to the Chinese telecommunications company, leaves the details of implementation to…
On Wednesday, the CEO of Daimler-BAIC’s joint venture’s stated, he views the Chinese auto market in 2020 as “moderately positive”; his assessment is based on its April sales performance in China. Daimler-BAIC’s CEO Arno van der Merwe made the comments during a visit to the Beijing Benz Automotive Co’s plant. He did not comment on…
On Wednesday, Bloomberg reported that Nissan Motor Co plans on undertaking an annual $2.8 billion fixed costs restructuring as it braces for a drop in sales, which could complicate its recovery from years of poor profitability. Following 3 years of poor profits, Nissan is set to announce its restructuring plan on May 28. It is…
On Wednesday, the venture arm of U.S. chipmaker Intel Corp, Intel Capital stated it has invested in two Chinese startups in the semiconductor sector. The fresh investments comes at a time when there is heightened tensions between Washington and Beijing over chip manufacturing. One of the Chinese startups, Intel Capital has invested is ProPlus. It…
The new novel coronavirus test that detects Covid-19 antibodies form Abbott Laboratories has been granted emergency use authorization for usage by the United States Food and Drug Administration, the company has said. The company has announced that this month, it aims to ship at least 30 million test kits and by June, the company will…
On Tuesday, Spark New Zealand Ltd stated, it will manage part of New Zealand’s allocation of 5G spectrum as the country prepares to roll out the next generation mobile technology over the next year. In a statement to the New Zealand Stock Exchange, Spark New Zealand Ltd said, it will be offered management rights to…
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