Two of the largest global auto companies BMW and Daimler have joined hands to forge a mobility partnership which would be worth one billion euro or $1.13 billion. The basis or the foundation of this development was laid by the two companies back in March of 2018 when the companies have jointly announced that they…
Economic growth could be hampered by the continuance of the acrimonious trade war between the two largest economies of the world into current year, warned Danish shipping group and one of the largest shipping companies in the world Moller-Maersk as it announced its financial performance for the fourth-quarter wherein the earnings were in line with…
Keeping the eventuality of a no deal Brexit, Barclays announced a provision of £150 million. The company said that the amount had been apportioned for “anticipated economic uncertainty” related to Brexit. This was stated by the bank as it announced a profit of £3.5 billion for 2018 which was virtually the same as the previous…
German industrial giant Siemens is joining hands with electric-plane start-up Eviation for the development of an aircraft that would be powered by batteries. The company said on Wednesday that the German industrial conglomerate would help out the electric-plane start-up to design and develop the motor of the planned electric powered passenger plane by the startup.…
After operating for more than fifty years, United States based auto manufacturing company Ford has announced that it would close down a factory in Brazil. This is part of the strategy of the company to end selling of heavy commercial trucks in entire continent of South America. It saw “no viable path to profitability” for…
According to statement of the German interior ministry to the media, the Chinese tech giant Huawei would not be excluded from the setting up of the 5G network in the country and the country might even tweak changes in its regulations t hat would allow even those companies that are considered to be potentially untrustworthy…
The strength of the US economy was evident in the results of Walmart Inc which reported quarterly performance numbers for the holiday quarter which beat estimates, driven by increased consumer spending which led to more e-commerce purchases. The shares of the company rose by almost 3 per cent following the publication of the results. A…
United States based ride hailing company Lyft Inc is trying to be the first ride hailing company to be traded publicly and would flaunt its fast growth in the United States as its main attraction points for investors for the IPO, according to media reports quoting sources with knowledge of the matter. The reports claimed…
A survey by the European Parliament revealed on Monday predicted that the biggest group in the EU legislature would be the center-right after elections in May this year, which indicates that there would also be an increase in the number of seats to the far right. According to the survey, with 29 seats, the position…
According to a report published in the Washington Post on Thursday, the US based largest social media platform of the world Facebook could be facing penalties to the tune of billions of dollars as it attempts to settle a case with the US government which is related to the lapses made by the company over…
