Disney’s Shanghai Park And Other Entertainment Venues In China Close Due To Coronavirus

Growing concerns and fears over the spread of the new virus in China known now as coronavirus is forcing the closure of Disney’s mega theme park in China during the Lunar New Year holidays. Saying that the closure was “in response to the prevention and control of the disease outbreak”, this announcement was made by…

Broadcom signs multi-year agreements with Apple Inc

Chipmaker Broadcom Inc stated, it has entered into two multi-year agreements with Apple Inc for supplying wireless components used in its products. The agreements, “2020 SOWs”, are in addition to existing ones for supplying radio frequency components and modules to Apple. Together the agreements are likely to generate around $15 billion in revenues for Broadcom.…

Trump Administration to crackdown on pirated, counterfeit goods sold on major e-commerce sites

The Trump administration is set to unveil, on Friday, its efforts to crack down on pirated and counterfeit goods that are sold on major e-commerce sites. Chad Wolf, the acting Department of Homeland Security Secretary along with White House adviser Peter Navarro, will be among the officials to discuss the effort at the National Intellectual…

UK Consulting With Turkish Firm Cengiz For Sale Of British Steel If Deal With Jingye Fails

Talks with the Turkish conglomerate Cengiz Holdings is being held by the British government to convince the firm to purchase British Steel is the planned acquisition of the steel company by Chinese industrial firm Jingye does not go through. However reports suggested that the government is confident that the acquisition of British Steel, including the…

$2.2 Billion Pretax Hit In Q4 Expected By Ford From Pension And Retirement Benefit Costs

Contributions that it has had to make towards its employee pension plans and retirement benefits will force United States based car maker Ford Motor to potentially take a pretax hit of about $2.2 billion for the fourth-quarter, the company has said. The total amount that it would have to forgo for the fourth quarter includes…

Tesla Surpassed VW To Become The Second Most Valued Carmaker Of The World

Following a dramatic rise in its share price that pushed the market value of the United States based electric car maker Tesla past the $100bn mark, the company became the second most valued  car maker of the world by surpassing the German auto giant Volkswagen. This record valuation also pushes Tesla’s chief Elon Musk to…