The fact that the large German car makers are finding it difficult to make large investments in electric car technology became evident as Mercedes-Benz said that it plans to save €1.65bn through retrenchment of more than a thousand jobs in its various locations. All of the major global auto companies are under pressure because of…
A partnership with the Chinese tech firm Tencent has been struck by British luxury brand Burberry with the aim of initiating a new and aggressive digital marketing and sales strategy for attracting customers in Chinese market who is characterized as being very tech and social media savvy, Burberry said on Thursday. China is a critical…
The uncertainty over Brexit has affected economic growth in the United Kingdom and has slowed down investment from businesses. Now the UK was recently dealt another blow because of the Brexit uncertainty, even as the country prepares for the third general elections in four years, with the United States based electric car maker Tesla choosing…
The server of an industry group in the United States that represents manufacturers of the country and one that has helped shape President Donald Trump’s trade policies was hacked by suspected Chinese hackers earlier this year even as the negotiations on trade between the US and China had intensified. According a report published by the…
A charity auction hosted by Christie’s in Switzerland saw a record 31m Swiss francs being given for a Patek Philippe watch. This is the highest price ever that has been paid for a wrist watch. The money collected from the sale will be donated for research into muscular dystrophy. Just a five-minute auction at the…
The vaping company Juul announced on Tuesday that it will cut more jobs that it had earlier announced – 650 jobs instead of the previously announced 500, in its efforts to reduce its expenditure by almost $1 billion by next year, said a company official. The number of jobs to planned to be cut accounts…
The latest financial results from the United States based ride hailing company Uber shows that Latin America turned out to be its biggest weak spot as the company noted just 2 per cent growth in the region, its worst for any region, and even as the company continued to lose money. Latin America has traditionally…
The vast number of risks the business faces has been detailed by Saudi Aramco, the state owned oil giant of Saudi Arabia that is set to launch its long-awaited initial public offering this year. The details of the risks being faced by the largest oil company of the world were mentioned in its prospectus that…
The finance ministers of the European Union have called on the economic block to completely stop al funding to oil, gas and coal projects. Experts estimate that if this measures is followed up, it would potentially lead to cancellation of annual investments worth €2bn. The EU finance ministers pointed out their concerns directly at the…
The world famous Disneyland in Hong Kong is being hit hard because of the political unrest and sometimes violent protests ongoing for almost five months now demanding more democratic rights from China. Despite reporting strong earnings for the latest quarter, Disney also pointed out to the increasing losses that the company is making for its…
