Volkswagen is planning to set up a new manufacturing facility for electric vehicles in North America and the company is looking out for a suitable location, informed the CEO of the company Scott Keogh on Wednesday. “We are 100 percent deep in the process of ‘We will need an electric car plant in North America,’…
One of the oldest and last standing conglomerates of the US, the 84-year-old United Technologies which manufactures elevators and jet engines will be split into three parts. Its Carrier building systems business and its Otis elevator division would be separated by the company into stand alone units, accounted the company on Monday. Jet engine maker…
Raising concerns over national security, the New Zealand’s intelligence agency refused allowing the use of 5G equipment from China’s Huawei Technologies Co Ltd as requested by the country’s telecom industry. The reasoning offered by the agency would be reviewed before further steps are taken by it, said New Zealand’s telecommunications services provider Spark New Zealand…
Disney could soon get access to a market with over one billion people and own a vast TV network and the leading video streaming service from its bet on Fox. The Indian market that is one of the world’s lucrative media markets with over 700 million people could soon be at the disposal of Disney…
According to an analysis by consulting firm Bain & Co., there are tremendous chances of benefit for a number of Southeast Asian countries because of the trade war between the United States and China which is forcing a large number of global companies that are currently engaged in manufacturing and fabrication work in China to…
Following suggestions from a mediation panel, South Korea’s tech giant Samsung Electronics announced that every employee, both former and current, who has been taken ill because of work related issues at its South Korean chip and display factories would be compensated by the company. The company also expressed grief on the death and illness of…
Budget UK airlines Ryanair is feeling no impact of the possibility of a no deal Brexit if one considers the number of bookings that the airline is taking in for the days at the end of March when the Brexit is scheduled to officially set in. According to the company, it has been taking in…
The reported concerns of the possible slowing of the demand for iPhone sale has forced Foxconn Technology Group, amongst the largest of the iPhone component supplier of Apple Inc., to plan extensive cost curtailment which would run into billions of dollars. According to news report published in Bloomberg News, in 2019, the Taiwanese manufacturer plans…
The HoloLens augmented-reality headset which was launched by Microsoft about four years ago and was meant for retail customers and which was not as successful that the company had expected, is now being used by an unlikely set of customers – the car makers. The car manufacturers are hopeful that the use of augmented-reality headsets…
According to media reports, Alibaba Group Holding Ltd has been put in a ‘down round’ investment by China’s Babytree Group, which is a parenting website operator, because of the later’s decision to price its Hong Kong IPO at the bottom of a marketing range which has reduced its valuation. Alibaba is an investor in the…
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