An autonomous driving start-up has been acquired by the Chinese electronics giant Xiaomi which has put the company into an industry that is fast becoming extremely competitive. The company said this move is a part of its strategy to further diversify its business from making smartphones and other electronic consumer durables. The autonomous driving startup…
By the end of 2021, Australia’s flagship airline Qantas is slated to take a pandemic related hit of A$20bn (£10.6bn) in lost revenue, the company’s chief, Alan Joyce. These comments were made by Joyce while announcing the results of the company which announced an annual pre-tax loss of A$1.83bn. The pre-tax loss number is limited…
With an increase in military threat from China in recent months, Taiwan plans to spend $1.44 billion on procurement of new fighter jets to bolster its armed forces even as the island announced a more modest speed of increase in defence spending for next year on Thursday. In recent months, military activity near Taiwan has…
The increase in corporate and investment banking activity in the Indian market, as it rebounds from the Covid-19 pandemic hit, has caught the attention of Barclays prompting it to announce an investment of more than $400 million into its business arm in the country so that it can tap into the opportunity. This also marks…
Regulators in South Korea are likely to effectively stop Google and Apple from charging software developers to pay them commissions on in-app purchases by preventing the tech giants from requiring developers to use their payment systems. If this regulations is implemented it would be the first time that such an actions would be taken on…
On her first visit to Asia, United States Vice President Kamala Harris discussed supply shortages of essential items with company executives in Singapore on Tuesday. The supply side disruptions has caused concern for the Biden administration and cased unwanted inflation especially in the case of raw materials. During the Covid-19 pandemic, serious challenges in obtaining…
Following reports during the weekend of possible acquisition bids by private equity firms for the second largest British supermarket chain Sainsbury’s could exceed more than 7 billion pounds ($9.6 billion), stock price of the chain surged by more than 14 per cent on Monday. According to reports on Sunday, acquisition bids for Sainsbury’s were placed…
Economic recovery of the United Kingdom was hit this month because of shortages of staff and supply, showed a closely watched survey. The IHS Markit/CIPS Composite Purchasing Managers’ Index (PMI) dropped to a six-month low for August at 55.3, compared to 59.2 in the previous month. Numbers over 50 is indicative of growth while less…
In the latest crackdown of Chinese regulators on domestic tech giants, the plan of selling shares in its computer chip making unit by Chinese electric car maker BYD was forced to be suspended by the company. A regulatory investigation into the law firm advising the company has forced the postponement of the public listing. …
The first tool in the global auto industry that is able to evaluate whether and when it would be safe to deploy autonomous cars and trucks, which do not have a human behind the wheel, on public roads, is claimed to have been released by Aurora, a Silicon Valley self-driving startup that was founded by…
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