A growth of 12.1 per cent in the global sale of cars of South Korea’s Hyundai Motor Co and affiliate Kia Corp would be registered by the companies in the current year, the two companies said in a statement on Monday. The companies however said that a global shortage of semiconductor chips used in cars…
Elon Musk has denied that his Starlink satellite broadband project takes up too much room in space. According to the Financial Times, “tens of billions” of satellites can be hosted in orbits close to Earth. After the president of the European Space Agency (ESA) said that Musk was “setting the rules” for the nascent commercial…
The first phase of its acquisition of Intel Corp’s NAND flash memory chip business has been completed by SK Hynix Inc, the South Korean company said. The company has already obtained regulatory approval for the deal from regulators in eight countries including from China. According to the deal, against the first phase of the acquisition,…
China has protested that its space station was compelled to avert collisions with satellites launched by Elon Musk’s Starlink Internet Services project, prompting a backlash on social media. Beijing said that the country’s space station had two “close encounters” with Starlink satellites this year. The instances that prompted the allegations to the United Nations’ space agency…
Tencent, the Chinese gaming and social media giant , will distribute the majority of its JD.com stock in order to pay a $16.4 billion dividend. This is expected to weaken its links to the e-commerce firm and raising worries about its ambitions for other holdings. The decision by the company was made at a time as Beijing has a major regulatory…
The Indian branch of Japanese multinational Sony has agreed to merge with local rival Zee Entertainment to create the country’s second largest entertainment network. More than 75 television networks, film assets, and two streaming platforms will be part of the united entity. It is on track to become a key participant in the fast-growing entertainment…
Unconditional antitrust approval was granted to software giant Microsoft by the European Commission on Tuesday for the acquisition of artificial intelligence and speech technology company Nuance Communications for a $16 billion deal. This acquisition is the largest for United States based Microsoft since its acquisition of the networking social media platform LinkedIn in 2016 for…
California’s Department of Justice stated Monday that it had filed a lawsuit against Walmart for allegedly disposing of hazardous garbage at a rate of “more than one million items per year.” According to the complaint, Walmart illegally deposited 159,600 pounds of hazardous garbage every year in state landfills that aren’t suited to handle the goods,…
For tax evasion, a leading Chinese live-streamer was fined 1.34 billion yuan ($210 million). Viya, or Huang Wei, is an internet celebrity with tens of millions of fans. She has sold a wide range of things through her site. Between 2019 and 2020, Hangzhou authorities accuse her of concealing her own income as well as…
When China Mobile, the largest telecommunications network provider, offers its shares in Shanghai, it hopes to raise as much as $8.8 billion. Due to constraints enforced under Donald Trump’s presidency, the firm was delisted from the New York Stock Exchange. It joins an increasing number of Chinese companies that have been listed on the New…
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