Following a protest over a letter advising itds suppliers not to purchase items or labour from China’s Xinjiang region, Intel has issued an apology. In China, the letter form the company had triggered outrage and calls for a boycott. Following limitations imposed by “various countries,” Intel was “forced to ensure” that its supply chain did not use…
Following reporting slower than expected sales for its Alzheimer’s drug in the United States as hospitals complained that the price of the drug was too high and its benefits did not meet the costs, Biogen Inc dropped the price of the drugs by about 50 per cent to $28,200 for an average weight person. The…
The privately held footwear label Heydude si to be acquired by Crocs Inc in a deal worth $2.5 billion, Crocs said. This is a part of its strategy of the rubber clogs producer to cash in on the pandemic-driven rise in casual shoe demand. Consumers who were stranded at home during last year’s lockdowns swapped…
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…
McDonald’s, the world’s largest fast food chain, is experiencing a chip shortage in Japan as a result of the worldwide supply chain issue. The problem at the home of the Big Mac, however, is not a shortage of chips. The company has stated that supplies of the potatoes used to manufacture its famed French fries…
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…
