Shell announced Friday that a 20-megawatt hydrogen electrolyzer, dubbed “one of the world’s largest,” has begun operating. The electrolyzer, which is located in Zhangjiakou, Hebei Province, China, will produce green hydrogen for fuel cell vehicles that will be utilized in Zhangjiakou’s competition zone during the Winter Olympics, which begin on February 4th. Commercial and public…
H&M, the Swedish clothes retailer, declared victory over the epidemic on Friday, claiming a higher-than-expected increase in quarterly profit and increasing investments with the goal of doubling sales by 2030. In early trading, shares in the world’s second-largest clothes retailer jumped 5 per cent after the company said it would quadruple its spending in 2022…
The demand for its telecoms equipment for 5G networks from all over the world offset its more market share losses in mainland China during the latest quarter which helped Ericsson to make quarterly core earnings forecasts that beat estimates, helping its shares to surge by 8 per cent. Since the banning of Chinese tech…
Unilever will slash approximately 1,500 managerial posts as the company strives to enhance growth following a failed purchase and with an activist investor to placate. The company will also reconfigure its business to focus on five core product categories. The company behind Dove soap and Magnum ice cream, which employs 149,000 people globally, announced on…
Stocks of Kohl’s Corp jumped 36 per cent on Monday following a Reuters report that claimed that the private equity firm Sycamore Partners had approached the departmental store operator with an acquisition bid worth $9 billion. According to the report based on source information, Sycamore’s offer on Sunday said that the company was willing to…
According to a report published by Reuters, the social media company Snap Inc is accelerating its global expansion in nations – ranging from Mexico to Japan, by partnering with wireless carriers and promoting its famous augmented reality capabilities. The parent company of the Snapchat photo messaging app is banking on the app’s relative safety at…
The Anglo-Australian mining company Rio Tinto’s desire to become Europe’s leading supplier of lithium, a critic metal for manufacturing of electric vehicles was harmed on Friday when Serbia canceled its lithium exploration permits due to environmental concerns. Serbia’s decision comes as the country prepares for a general election in April, and as tensions between Belgrade…
Mexico’s Grupo Financiero Banorte is considering possibilities of making a bidding offer for the Mexican consumer banking unit of Citigroup, said the Mexican company’s chief executive said. “We are starting an analysis of this opportunity, and if we find that a possible transaction adds value to shareholders, we would submit it for their consideration,” Banorte…
Netflix Inc shattered hopes for a speedy recovery on Thursday by expecting dismal first-quarter subscriber growth, sending shares down nearly 20 per cent and wiping out most of the company’s remaining gains made during the pandemic in 2020. According to Refinitiv IBES statistics, the world’s largest streaming service expected to attract 2.5 million members from January to…
Higher energy costs, rising demand, and supply chain concerns drove up consumer prices in December, pushing the UK inflation rate to a 30-year high. Inflation rose to 5.4 per cent on an annual basis, the highest level since March 1992, and up from 5.1 per cent in November, which was also a decade high. Reuters…
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