Walmart looking to invest up to $25 billion in Tata Group’s upcoming digital platform

On Tuesday, according to a report from the Mint newspaper which cites sources familiar with the matter at hand, Walmart Inc is in talks with India’s Tata Group for a potential investment of up to $25 billion in its new “super app”. The new “super app could be launched as a joint venture between Tata…

Volkswagen ID.4 compact SUV comes with 3 years unlimited charging in US

In a statement German auto giant Volkswagen AG said, owners of its ID.4 compact electric sport utility vehicle will gain three years of unlimited charging in the United States. This will at no additional cost to the price of the vehicle. Customers who purchased or leased its ID.4 electric SUV, which was launched in August…

Hacker hit cruise operator Carnival Corp with ransomware, gain access to employee data

Cruise operator Carnival Corp disclosed, it has launched an investigation into a ransomware attack on one of its brand’s computer network systems. In a regulatory filing, Carnival, which operates AIDA, Carnival and Princess cruises among others, disclosed that through the attack hackers were able to gain access personal data of guests and employees. Carnival Corp…

U.S. engineering & design firm Silk EV enters MOU with China’s FAW to produce Hongqi branded sports cars

On Monday, Silk EV, a little-known U.S.-based engineering and design firm disclosed it plans on investing $1.41 billion (10 billion yuan) in order to make sports cars with China’s FAW Group under the Hongqi brand, the brand of choice for China’s late revolutionary leader Chairman Mao Zedong. Silk EV has signed a memorandum of understanding…

Hyundai unveils its first SUV in overseas premium push

On Wednesday, Hyundai Motor Co unveiled its first sport-utility vehicle (SUV) under its Genesis brand in a move aimed at increasing its footprint in overseas markets, said analysts. Genesis, spun off in 2015, is an initiative of Hyundai Motor Group heir-apparent Euisun Chung, is aimed at revamping Hyundai’s image as an automaker which makes cost…

Fitbit Inc reports stellar first quarter results

The development underscores a rising demand for affordable wearables among consumers. In a development that signals a welcome break for wearable devices, wearable device maker Fitbit Inc reported better-than expected first-quarter results reaffirming its full-year revenue forecast. The wearable device maker was able to sell more smartwatches and wearable devices that track health at affordable…

Zurich-based ABB to acquire GE’s Industrial Solutions business for $2.6 billion

ABB sees a yearly potential for cost synergies of $200 million arising as a result of this acquisition. On Monday, Swiss engineering giant ABB stated it will be acquiring General Electric’s Industrial Solutions for $2.6 billion. The deal is help expand its footprint in the North American market. As a result of the deal, Zurich-based…