A collapse in the value of its flagship tech investments will cause a huge loss to be posted by SoftBank, the Japanese investment conglomerate warned on Monday. In the fiscal year through March 31, 2020, it expected an operating loss of 1.35 trillion yen ($12.5 billion), the Japanese company said. in the previous year, the…
An executive from the largest retailer of the world – Walmart, has been roped in by the online retailer eBay for its new chief executive role. In a new release, eBay said on Monday that role of the chief executive of the company will now be executed by Jamie Iannone, who currently is in charge…
Its own coronavirus testing lab will be made by the retail giant Amazon in order to effectively monitor the health of its staff, the largest e-commerce company of the world said. More than 50 facilities of Amazon throughout the United States have reported confirmed cases of Covid-19, the disease caused by the novel coronavirus, with…
The Japanese auto maker Nissan has come to a conclusion that to turn around its fortunes it is necessary for the company to become much smaller and the company will likely announce a reduction in its annual sale target of cars by 1 million, said reports quoting sources within the company. Nissan is due to…
There are a number of companies that are rewarding their frontline workers with salary increases for working under trying circumstances amid the coronavirus pandemic even as many companies globally have been forced to slash payments and salaries of staff because of the economic impact of the pandemic. Almost two out of five workers around the…
A retail developer in California, United States, has approached the court seeking direction to prevent Exxon Mobil Corp from selling a piece of property to any other buyers, arguing that the developer was unable to complete the $4.2 million property acquisition because of the lockdown in the state because of the coronavirus pandemic which was…
The second largest cinema chain of the world – Cineworld, was forced to close down all of its cinemas globally because of the coronavirus related restrictions in many countries of the world and it is now in talks with landlords and film studios to try and save as much of cash as possible, until business…
A package worth almost $1 trillion is being committed by Japan to be used for supporting its economy from the hit of the coronavirus pandemic. A 108 trillion yen ($989 billion) relief package was announced by the Japanese Prime Minister Shinzo Abe on Monday. The amount is staggering and is equivalent to about 20 per…
Thousands of Volkswagen car owners of the United Kingdom apparently won the first stage of a High Court action against the German auto giant over the allegations of fitting emission cheating devices in the diesel vehicles manufactured by it. The latest court ruling came after a preliminary hearing in December in which the court was…
An investment of $250 million in Vir Biotechnology Inc., along with collaboration, will be made by British drugmaker GlaxoSmithKline for the development of possible treatment for Covid-19, the disease caused by the novel coronavirus. Following this announcement by the companies, there was a 35 per cent jump in the shares of Vir while a 1…
