A strong demand for its trucks resulted in a much larger profit than Wall Street was forecasting which pushed the United State based auto giant back into the path of profitability in a big way in the third quarter. Profits of $2.6 billion excluding special items was reported by the company which was almost twice…
United State based aircraft maker Boeing has surprisingly increased its industry wide Chinese sales forecast for a period of the next 20 years to a level that is higher than even the pre-Covid-19 levels despite very frim global estimates of demand for new aircraft to remain very slow for decades due to the hit of…
In a development that underscores cost cutting measures adopted by Amazon.com Inc, the e-commerce giant said it has shifted some computing power for its Alexa voice assistant to its own custom-designed chips, away from chips supplied by Nvidia Corp. When consumers ask devices equipped with Alexa, including Amazon’s Echo line of smart speakers, a question…
New record in terms of revenues from sale were set by Chinese e-commerce giants Alibaba and JD.com for the Singles Day shopping event with a total of $115 billion in sales across their platforms. The Singles Day event, also known as Double 11 because it happens on November 11, was extended this time not by…
On Thursday, Estonia-based ride-hailing service provider Bolt stated, it has decided to invest $118 million in 2021 and has set a goal to become the biggest e-scooter rental company in Europe. The development comes at a time when cab services have been severely affected by the coronavirus-induced COVID19 pandemic. As part of this strategy Bolt…
BMW AG has unveiled an electric sport utility vehicle (SUV), the BMW iX, which will go on sale in the United States in early 2022. The BMW iX will compete with Tesla’s Inc’s electric vehicle offerings. The car will have a drive range of 300 miles (480 km), less than the estimated driving range of the…
In a statement, electric vehicle startup Rivian said, it will begin taking pre-orders for its electric SUVs and pickup truck with deliveries scheduled for both in next year. The launch editions of the electric R1S SUV and the R1T pickup truck has been priced at $77,500 and $75,000 respectively, with both vehicles having a 300…
In a significant development, the Brazilian government said it has backed Washington’s push to build a global alliance of Clean Network that excludes technology companies that are manipulated by governments including China’s Communist regime. The development came in the wake of Keith Krach, U.S. Under secretary of state for economic growth, energy and environment, advising…
In an interview, Tomer Weingarten, the CEO of SentinelOne said, the startup has raised $267 million from venture capital backers including Sequoia and Tiger Global, and saw its valuation jump to more than $3 billion – nearly three times its valuation in February 2020. The startup uses artificial intelligence technology to protect mobile phones and…
According to a source familiar with the matter at hand, online retail giant is set to face antitrust charges from the European Commission over its usage of merchant data, said EU’s antitrust chief Margrethe Vestager. The European Commission has been investigating the online retailer’s dual role, of that of a marketplace for merchants as well…
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