The United States electric car maker will now play the role of a technical partner in a nickel mine – a mineral that is an essential requirement for making of lithium-ion batteries which power electric vehicles. With the aim of securing long term supply of the metal usually in short supply, Elon Musk’s car company…
The trend of working from home that came into prominence during the Covid-19 pandemic is here to stay, said the chief of Zoom Eric Yuan. The company that offers video conferencing services grew at an unprecedented rate during the pandemic with people working from home and therefore required a medium to hold virtual meetings. Sales…
A case was filed against the largest online retailer of the world Amazon.com Inc by a manager of the company over discrimination. In the litigation, the manager has alleged that the company hires Black people for lower positions while also promoting them more slowly compared to white workers. The manager also alleged that she was…
Citigroup Inc was forced to revise its earnings for the fourth quarter of 2020 as the company said that it had recorded an additional $390 million in operating expenses during the quarter following a ruling by a federal judge in the United States which barred the banking company from recouping any money from the amount…
A national digital payment network in India is set to be formed in a partnership between India’s largest conglomerate Reliance Industries and tech companies Facebook Inc, Google and fintech firm Infibeam, according to reports. An invitation to private companies to form new umbrella entities (NUEs) for creating a payments network was given by the…
A paper gain of almost $3.3 billion on an investment of $43 million personal investment in the blank-check acquisition firm they are merging with luxury electric vehicle startup Lucid Motors Inc have been made by veteran dealmaker Michael Klein and his partners, said a report from Reuters. A meteoric rise in the shares of Klein’s…
The further tightening of the travel restrictions on the global aviation sector because of the Covid-19 pandemic has forced the global airline industry body IATA to reassess its December forecasts and warn of a bleaker outlook for the industry for the current year. The body now expects global airline industry to burn cash till the…
According to Apple Inc’s chief executive Tim Cook, over the past six years the iPhone maker has acquired about 100 companies. Cook, while talking to shareholders at the company’s annual general meeting, said that on the average, Apple buys a company every three to four weeks. In the first-quarter of its fiscal year 2021, the…
Following a truce with the Australian government over a tussle related to the new content law being brought in the country, an investment of at least $1 billion in the news industry in the country over a period of the next three years would be made by the social media company Facebook. The largest social…
The streaming platform Spotify will now have the opportunity to reach out to an additional one billion customers as the company plans to expand its business and launch its services in 85 new markets. The company made the announcement during a live streaming event that featured Justin Bieber, Prince Harry and Meghan Markle. A new…
