A financial crisis at a United States based hedge fund will likely have severe impact on the profits of two of the largest investments banks, the banks have warned recently. The crisis is likely to have a large and significant effect on the results for its next quarter, said Switzerland’s second largest bank Credit Suisse.…
On Monday, following Toyota Motor Corp opening its first commercial hydrogen fuel pump site in the Australian state of Victoria, it urged the government to encourage the rollout of more such sites across the country so as to boost the take-up of cleaner cars. Next month, Toyota is bringing in twenty of its Mirai hydrogen…
After a long time since its block buster initial public offering (IPO) in the United States was jeopardized by a row over its market valuation, the US based workspace sharing firm WeWork will now be attempting to go public again – this time through the route of a merger with blank-check firm BowX Acquisition Corp.…
The first luxury brand to be hit by the Chinese backlash to Western accusations of abuses in Xinjiang was Burberry which lost a Chinese brand ambassador while its hallmark tartan design was brushed away from a popular video game in the country. A number of organisations and individuals in the UK were sanctioned by China…
The latest tech company to venture into the area of manufacturing electric vehicles is China’s Xiaomi Corp plans which plans to use the factories of Chinese auto maker Great Wall Motor Co Ltd’s factory, said a report published by the news agency Reuters. Following the publication of the news, the stocks of Xiaomi went up…
In a significant development, according to three sources familiar with the matter at hand, Xiaomi Corp plans on entering the electric vehicles (EVs) segment using Great Wall Motor Co Ltd’s factory, making it the latest tech firm to join the smart mobility race. Xiaomi, one of China’s biggest smartphone makers, is in talks to use…
In a significant development, Xiaomi Corp announced on Friday that it will unveil a new self-developed computer chip on March 29 on its official Weibo social media account.
The largest social media company of the world Facebook and the animation firm Giphy was given just give working days by the competition regulators of the United Kingdom to come up with definitive proposals and submit the same with the regulator about the way the companies want to address the concerns of the regulator about…
Preliminary figures released on Wednesday showed that there was an expansion business activity in the euro area in March. However, any recovery could be derailed by a third wave of the pandemic in the region even as infections of Covid-19 are rising. Compared to 48.1 in February, the IHS Markit’s flash composite PMI for the…
According to a report by the influential magazine Consumer Reports published from the United States, concerns about user privacy are being raised because of the in-car cameras of Tesla’s car which are used to record and transmit video footage of passengers for the development of the company’s self-driving technology. The benefits of driver monitoring are…
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