The pressure for making rapid technological advancement in the field of autonomous driving and self driving cars is pushing global auto companies to invest more time resources. This is evident in the decision of the German car manufacturer Volkswagen AG to create a new subsidiary called Volkswagen Autonomy (VWAT)completely dedicated to self driving tech. The…
The largest private coal miner in the United States, Murray Energy, has been forced to file for bankruptcy because of the slow but steady downfall and closure of the coal industry in the United States. This bankruptcy however was being expected for years now. Recently, it was unable to make lender payments and an agreement…
An increase in the sale of cancer drug Ibrance as well as a great launch for its new heart medicine Vyndaqel propelled the third quarter profits for Pfizer Inc which beats estimates of analysts after the company announced its earnings on Tuesday. The strong third quarter performance prompted the company, the largest drugmaker of the…
Despite its third quarter earnings being impacted by the 40-day strike against General Motors by the United Auto Workers, the United States auto maker managed to report a profit for the quarter because of the presence of a good amount of inventory with the company when the strike was announced and implemented in the middle…
Twitter Inc cited issues with advertising efforts, which included product bugs and unusually low demand over the summer as the reasons for the social media company posting both revenues and profits much lower than what the market was expecting for the third quarter. The bad earnings report also resulted in a sharp drop in Twitter…
A $271 million bid for the bankrupt luxury department store Barneys New York by brand developer Authentic Brands Group has been challenged by Israeli businessman Samuel Ben-Avraham who announced that he had put in a contending offer for the company. Barneys New York had applied for bankruptcy in August and since then has been seeking…
While a former chief executive of the now collapsed company Thomas Cook has claimed that his leadership role and decisions had no part in the collapse of the century old global company, another former CEO has hinted otherwise. British members of parliament inquiring into the sudden collapse of were informed by Manny Fontenla-Novoa about the…
There is reasonable confidence with Biogen CEO Michel Vounatsos about getting the approval for the drugmaker’s experimental Alzheimer’s drug from the United States Food and Drug Administration. “We worked in full transparency with the regulator,” Vounatsos said in a television interview while also emphasizing that all of the data about the drug that the company…
While the revenues for the United States based aircraft maker Boeing beat market estimates, its earnings were lower than what the market was expecting for the third quarter of the year. There was however an increase in the value of the shares of the company following positive messaging about the possibility of the return of…
According to reports, the top leaders at the European Union are likely to take some time to discuss and decide on the plea of the United Kingdom government for an extension of Brexit deadline. It has been reported that the leaders of the other 27 EU states also want to give UK Prime Minister Boris…
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