Germany gathers speed in green financing norms

In a significant development, a strategic plan by the German government sees offshoots in new green financing norms aimed at steering capital towards environmental projects and developing Germany into a leading hub for sustainable finance. The Sustainable Finance Strategy which plans on listing 26 individual measures is scheduled to be adopted by the cabinet on…

Electric car, bus maker Arrival to develop electric ride-hailing car for Uber Technologies Inc

On Tuesday, in a joint statement British electric van and bus maker Arrival stated, they will collaborate to develop an electric car for Uber Technologies Inc, which will go into production in late 2023. Uber and Arrival will also explore a strategic partnership in key markets, including the United States, EU and the United Kingdom/…

Can catch up with min requirement for auto chips by June: TSMC

In a statement the chairman of Taiwan Semiconductor Manufacturing Co Ltd (TSMC) told U.S. broadcaster CBS that it expects to catch up with the “minimum requirement” for auto chips by customers by the end of June. Automakers are hard-pressed  for auto chips and have shut assembly lines due to their shortage. Taiwan, home to a booming…

Gig Economy Firms Oppose US Government Efforts To Reclassify Company Drivers As Employees

Companies in the so called gig economy including Uber, Lyft, Doordash and Instacart are trying to retain the status of their drivers as contractors – with some additional benefits as compensation, given the realization that the new administration in the United States under Joe Biden are insisting on reclassification of the workers in the ride-hail…

Samsung’s Quarterly Profits The Highest Since Start Of Pandemic Due To Phone Sale Surge

The strong demand of the flagship Galaxy S21 smartphones and other models propelled the South Korean technology giant Samsung Electronics to report its bets quarterly profits for the latest completed quarter since 2018. The company also reported a 46.3 per cent growth in the net profits for the quarter compared to the same quarter a…

Alphabet Again Reports Record Quarterly Profits, Plans Share Buyback Worth $50 Billion

While issuing a caution about the possibility of a slowdown in the growth in usage and ad sales during the pandemic with roll out of vaccines and with people resuming in-person activities, Google parent Alphabet Inc reported record profits for the second straight quarter as well as a share buyback program worth $50 billion. Analysts’…