A new 10 billion yuan ($1.4 billion), five-year loan facility will be given to the united States based electric car maker Tesla by a group of China banks as funds for developing the car maker’s Shanghai car plant, reported the news agency Reuters citing information from three sources familiar with the matter. The report, a…
Holiday gifts could get delivered by drones to homes next year. The race for development of commercial drone delivery systems and to make it a reality is hotting up with biggest players in logistics and packages in the world trying to outdo each other in this area. And “UPS and Alphabet have the early lead”…
The proposal of acquiring the United Kingdom based defence and aerospace company Cobham by a private equity firm of the United States has been approved by the UK government. The £4bn offer to buy Cobham announced by Advent International in July had been held up as the UK government wanted to review the deal because…
Funds worth more than $1 billion have been raised so far this year for its wind and solar business by the Indian startup ReNew Power. In addition to that being a sign of investor confidence in ReNew, one of India’s best performing unicorns, it is also being seen as a sign of the shifting of…
The top court of Europe has ruled that there is no need to for obtaining an estate agent’s license to operate in France for the accommodation booking service app Airbnb. The court gave this ruling in reference to a case filed against Airbnb by the French tourism association alleging that the company did not have…
All McDonald’s restaurants in Peru was announced to be closed for two days to mourn the “death of our collaborators”, said McDonald’s operating company in Peru Arcos Dorados in a statement on Twitter. This was done in response to death of two young employees at a McDonald’s restaurant in Lima because of electrocution which has…
While indicating that the tech giants Google and Facebook would be spared an in-depth investigation over allegations of the companies unfairly dominating the online advertising market, Britain’s competition regulator stressed on the need for stricter regulations for such tech companies to prevent any negative consequences of the market dominance of the companies. The Competition and…
Following comments from the United States airline regulator the Federal Aviation Administration (FAA) that there is no deadline for the returning into service of Boeing’s 737 Max planes, globally grounded since March this year, the suppliers, customers and financers of the US plane maker are anticipating a complete freeze on production of 737 planes by…
The climate crisis could get accelerated instead of it being addressed because of the plan of the European Union to transform the block’s coal plants, which includes the giant Drax complex in North Yorkshire, and generate power by burning wood pellets instead could. Campaigners and scientists warn that this could lead to rapid deforestation equal…
The aim of the OPEC and allied oil producers to increase global crude prices by reducing output as unveiled last week could fail. According to the International Energy Agency, a global supply glut will potentially be prevented by the increased production cuts as agreed to by the oil cartel and other major producers including Russia.…
