On Wednesday, in a significant development Britain said, it plans on unveil a new law which will fine social media companies up to 10% of their global turnover of 18 million pounds ($25 million), if they fail to remove online abuses such as racist hate crimes; the law will also see senior managers face criminal…
In a statement lidar sensor maker Innovusion said, it had raised $64 million to ramp up production and supply Chinese electric vehicle (EV) maker Nio Inc’s ET7 sedan, which is scheduled to start deliveries in early 2022. The funding includes new investments from Singapore state investor Temasek and venture capital firm Joy Capital. Existing investors also…
On Tuesday, in a statement the Gordon Murray Group which makes supercars said, it plans on investing $420M (300-million-pound) spread over 5 years to expand into the electric car segment; it plans on developing electric SUVs and delivery vehicles for carmakers as it shifts towards an all-electric supercar by 2030. “Electric is what we’ve been…
In a statement, Colonial Pipeline said, it has restarted operations in its Line 4 fuel line, which runs from Greensboro, North Carolina, to Woodbine, Maryland, under manual control. The line came under cyber attack which shutdown the pipeline system last week on Friday. In a notice to shippers, Colonial Pipeline said, Line 4 will be…
On Monday, digital music company Believe stated it plans to come out with a stock market listing in Paris with an aim to raise around $608 million (500 million euros) so as to finance its expansion. Believe’s digital music brands, Believe Distribution Services, TuneCore, Groove Attack, Nuclear Blast, Naïve, and AllPoints, compete in a sector…
In a statement, Elon Musk’s SpaceX said, it will launch the “DOGE-1 Mission to the Moon” in the first quarter of 2022, and accept meme inspired cryptocurrency dogecoin as payment. “SpaceX launching satellite Doge-1 to the moon next year – Mission paid for in Doge – 1st crypto in space – 1st meme in space”,…
Following its estimate beating earnings for its second quarter, the German conglomerate Siemens also increased its profit and sale guidance for the full year which was a second such raise by the company so far in its fiscal year. Moving into the second half of its fiscal year, the company has “good momentum” which the…
So far there are little signs of a recovery of air travel which is still being expected by the Air France-KLM – according to its current sales, by this summer, the airline group said while reporting a larger operating loss for the first quarter. The stocks of the group dropped after the company confirmed its…
Long white metal tubes sitting at the base of mountains in the desert just north of Las Vegas promise to one day revolutionize the mass transportation market. Virgin Hyperloop is one of the players in this industry. Richard Branson’s Virgin Group is developing the technology which will see passenger pods hurtling at speeds of up…
While reporting better than expected first quarter trading, the British fashion retailer Next increased its profit guidance for the full year for the second time in a span of two months. The central guidance for its pretax profit in the 2021-2022 fiscal year was raised by it to 720 million pounds ($1 billion) compared to…
