Tesla has become the highest-valued automaker following a surge in the price of its shares which saw Tesla’s market capitalization overtaking that of former front runner Toyota Motors Corp. On Wednesday, Tesla’s shares touched a record of $1,133, boosting its market cap to $209.47 billion, around $6 billion more than that Toyota’s. Tesla’s market cap…
In a significant development, the U.S. Food and Drug Administration (FDA) has released guidance for approving a coronavirus vaccine stating that the vaccine has to prevent or decrease the severity of the COVID-19 disease in at least 50% of people who have been inoculated. Worldwide more than 100 vaccines are being tested against the coronavirus…
On Wednesday, U.S. private equity group Carlyle stated, it has decided to purchase a 25% stake in Indian telecom firm Bharti Airtel Ltd’s data center arm for $235 million. The development marks the rapid growth of digital services in India. In a statement both companies said, the acquisition will provide Airtel’s Nxtra Data Ltd an…
The constant lowering of global oil prices over the last few years, which has been compounded by a slump in demand for oil and gas because of the novel coronavirus pandemic is has forced the Anglo-Dutch company, Royal Dutch Shell, to write down the value of its assets by as much as $22 billion. These…
A new study that was conducted for more than a year has predicted that unless there is urgent government intervention to prevent he loss of habitat of the Australian koalas, these lovable animals will become extinct before 2050 in New South Wales (NSW), Australia. An estimate of the government that there are 36,000 koalas in…
With a growing list of corporate advertisers agreeing to join the #StopHateForProfit campaign aimed at pressurizing Facebook to take stringent measures to stop the spread of hate, the largest social media company of the world is facing an advertising boycott that is has never experienced in its recent history. Some of biggest advertisers on Facebook,…
All paid advertisements on all social media platform globally will be stopped for at least 30 days by Coca-Cola, the company has announced. In its statement however the company confirmed that it would not be joining the official advertisement boycott campaign of social media platforms by companies, but said “we are pausing” advertising. After the…
On Monday, in a significant development, the Dutch government began auctioning airwaves for 5G networks with a floor of $1 billion (900 million euro). Telecommunication companies including Vodafone, KPN, and T-Mobile are participating. The auction is for the 700, 1400 and 2100Mhz frequency ranges. The companies will submit bids in a series of daily rounds…
In a development that signals a change in its business model, Sony Corp stated, it’s image sensor business aims to replicate the PlayStation’s success to address its reliance on a handful of manufacturers in the fiercely competitive smartphone market – it plans on selling software by subscription for data-analyzing sensors in situ. Much akin to…
In a significant development, three of China’s biggest state-owned airlines have taken delivery of their first ARJ21 short haul 90-seater aircraft made by state-owned Commercial Aircraft Corporation of China (COMAC). In a statement COMAC said, China Eastern Airlines Corp Ltd, Air China Ltd, and China Southern Airlines Co Ltd have received the aircraft; they would…
