In a stock exchange filing Tesla Inc stated, it has signed a three-year pricing deal with Panasonic Corp for the manufacturing and supply of lithium-ion battery cells at its Gigafactory in Nevada. The duo have reportedly been in talks to expand the capacity of the joint venture since months. Earlier in May, Panasonic had hinted…
As one of its means to mitigate threats posed by China’s coronavirus, Amazon.com Inc said, it has launched an artificial intelligence-based tracking system to enforce social distancing norms at its warehouses and offices as it ramps up efforts to face scrutiny from unions and U.S. lawmakers over its efforts to protect its workers from the…
After estimates that the demand for oil globally could be affected for the next 30 years because of the novel coronavirus pandemic hitting the world, British Petroleum (BP) has decided to cut the value of its oil and gas assets by up to $17.5bn while also possibly being forced to ditch new fossil fuel discoveries…
The growing popularity of mobile payments app in many of the emerging economies of the world has drawn rte attention of many tech companies. One such firms, the social media giant Facebook which had announced previously its plans to launch a mobile based payment service through its social media messaging app WhatsApp. The company has…
Two antitrust investigations have been started by the European Union against the business policies and tactics of App Store and Apple Pay of United States based tech giant Apple Inc on Tuesday. This move by the antitrust regulator of the EU is a part of the efforts of the bloc to put scrutinize online gatekeepers…
On Tuesday, Grab announced a trimming of its workforce citing the coronavirus which emerged from Wuhan China. The Southeast Asian ride-hailing and payments services firm, considered Southeast Asia’s most valuable startup with a valuation of $14 billion, informed staff of the move at a townhall, said two sources with knowledge of the matter at hand.…
In a significant development that marks a tweak in its China strategy, Washington has confirmed that it will amend its prohibitions on U.S. companies doing business with China’s Huawei and allow them to work together on setting standards for next-generation 5G networks. The U.S. Commerce Department along with other agencies have signed off on the…
According to the results of a Apple-backed study, which for the very first time sought to quantify activity at its AppStore which does not produce a commission for Cupertino, it was found that the App Store spurred $458 billion in sales in 2019 from categories which includes retail of physical goods, ride-hailing and advertising. For…
On Monday, e-learning company Skillsoft Corp stated, it has filed for pre-packaged Chapter 11 bankruptcy in order to trim its debt of around $2 billion. Skillsoft has agreed to enter into a restructuring agreement with majority of its lenders that would help it trim its debt to $410 million. Skillsoft filed for bankruptcy in the…
In a statement Germany’s Health Minister Jens Spahn said, Germany is scheduled to launch its coronavirus tracing smartphone app later this week. The development comes after brief delays to ensure the Bluetooth technology would work at the correct distance. The tool will play a critical role to help avoid a second wave of infections in…
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