Toyota Motor Corp. lowered its yearly production target by half a million vehicles on Wednesday due to a semiconductor shortage and Covid-19 sick leave. The world’s largest manufacturer said it will construct 8.5 million vehicles in the year to March 31, down from a previous estimate of 9 million, as it reported a 21 per…
The planned takeover of SoftBank’s Arm by Nvidia has fallen through due to “significant regulatory challenges,” according to a joint statement released by the two companies on Tuesday. The acquisition was first disclosed in 2020, and it was valued at $40 billion in Nvidia shares and cash at the time. Arm will now prepare for a…
Social media platform Facebook’s owner Meta has stated that if it is unable to continue moving user data to the United States, it may shut down Facebook and Instagram in Europe. Last Thursday, the social media behemoth issued a warning in its annual report. European regulators are already drafting new rules that will govern how EU…
Frontier Group Holdings and Spirit Airlines Inc on Monday announced intentions to join in a $2.9 billion merger that would establish the fifth-largest airline in the United States and increase competition against traditional carriers. The partnership brings together the stablemates of famed airline investor Bill Franke, a pioneer of rock-bottom prices combined with ultra-low-cost carrier top-up…
UBS just recorded its highest annual profit since the global financial crisis, allowing it to increase share buybacks and set more ambitious profit targets as it bets on more digital products resulting in significant cost reductions. In early trading, shares of Switzerland’s largest bank rose 6.5 percent to a four-year high. UBS said in its…
Is Koo, an Indian microblogging app, capable of defeating Twitter? According to Mayank Bidawatka, co-founder of Koo, the company intends to surpass Twitter’s 25 million-strong user base in India this year. By the end of 2021, it has surpassed 20 million downloads in the country. “We are now available in 10 languages, including English. This…
Google is spending up to $1 billion in a major Indian telecom business in the goal of lowering smartphone prices in a vast and quickly growing market. In a statement released Friday, Google said it would invest $700 million in Bharti Airtel, India’s second-largest telecom operator, for a 1.28 per cent share. The companies said…
Last October, Facebook changed its name, expressed a future of the internet in which people may communicate digitally through virtual-reality avatars or travel to see sites like ancient Rome, and sparked the metaverse investment mania. Investors will receive a new glimpse into the financial implications of CEO Mark Zuckerberg’s current interest when the business, called Meta…
With Moscow amassing its military forces on the Ukrainian border, UK firms and organizations were warned to strengthen their defenses against potential Russian cyberattacks. According to the National Cyber Security Centre of the United Kingdom, recent attacks are “similar to a pattern of Russian behavior seen before in other situations,” and corporations have been urged to take action…
There have already been dozens of cases of a novel Covid subvariant that is even more contagious than the previously highly transmissible omicron variant over nearly half of the United States. According to a global data system that tracks Covid variations, nearly half of US states have confirmed the presence of BA.2, with at least…
