Uber has been forced to adopt the taxi model in Latin America because of the novel coronaviruss pandemic. This new approach to business for Uber is because of the pandemic related regulatory clampdown in countries such as Chile and Colombia where the ride-hailing business is considered mostly to be unregulated. Chinese rid hailing company Didi.,…
With speeding up measures for cost savings in the wake of the novel coornvirus pandemic, the German engineering group Siemens said it expects to register a “modest” improvement in orders and revenue within the next few months. While raining forecast for its earnings as it cut costs and had benefited from an accounting gain, the…
The German auto giant BMW id forecasting an operating profit this year even though the company reported a loss of 666 million euros ($787 million) during the second quarter following slump in sale of its luxury cars during the lockdowns implemented across most major markets to prevent the spread of the novel coronavirus pandemic, the…
The hit to the global economy and a consequent forecast of a significant hit to global demand in cars because of the novel coronavirus pandemic has forced Japanese auto giant Honda Motor Co to forecast a 10-year low annual operating profit for the current year with a 68 per cent decrease. In the year to…
Twitter has provided details of its investigation into the unprecedented hacking of celebrity Twitter accounts earlier this month. The company said that that the hack was a result of human error and a spear-phishing attack on Twitter employees. Spear-phishing is a form of targeted cyber attack that is designed to trick people into themselves handing…
Italian fashion brands such as Gucci, Prada and Dolce & Gabbana have been called on by black fashion designers in Italy to make a pledge to eradicate rcism form, the fashion industry of the country. The brands have been accused of prioritising performative gestures only for supporting the Black Lives Matter movement in the United…
With plummeting of consumer spending, company investment and exports during the second quarter, the German economy contracted at its steepest rate on record for the period. This was during the peak of the novel coronavirus pandemic in the country. Gains made in the last 10 years have been wiped off by the hit. There was…
A record writedown on the value of its oil and gas assets because of the collapse in the global prices of oil and gas because of the coronavirus forced Royal Dutch Shell has to report a deep financial loss. For the second quarter 2020, a net loss of $18.3bn was reported by the Anglo-Dutch oil…
The world’s largest brewer has noted a bounce back in beer sales. Following three months of continuous decline in sale of beer globally because of the novel coronavirus pandemic, an increase in its global sales volume in June was reported on Thursday by Anheuser-Busch InBev. The brewer’s business had been heavily impacted by restrictions imposed…
Loss of $2.4 billion in the last three months was reported by the United States based plane maker Boeing. Analysts see this as the latest sign of troubles for the company because of the novel coronavirus pandemic which has hit the global aerospace industry particularly hard. The “prolonged impact” of the pandemic has made it…
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