Volkswagen not interested in acquiring stake in Tesla: Herbert Diess

Potential headwinds include getting the consent of Volkswagen’s controlling Piech and Porsche families to fund the purchase of the stake. Denying a media report, which stated Volkswagen’s CEO Herbert Diess as wanting to purchase a stake in Tesla, the German carmaker stated, it was not interested in doing so. “The speculation about buying a stake…

U.S. tariffs on China provide an edge to Samsung Electronics’ products

Here is why relocating Apple’s supply chain from China makes business sense. U.S. President Donald Trump disclosed he has had a discussion with Apple Inc’s Chief Executive Officer Tim Cook on the impact of U.S. tariffs on Chinese imports as well as competition faced by Apple from South Korea’s Samsung Electronics Co Ltd. Cook “made…

Scout24 to review its auto platform following pressure from Elliot Management

Scout24 will update investors on its review on November 26. Elliot is also pushing Scout24 to ramp up its share buyback program. On Tuesday, Scout24, a German classified listings group stated it would explore options for its autos platform following pressure from activist investor Elliott Management to sell the business. “We have commenced a strategic…

Does “Amazon’s Choice” badge deceive consumers: U.S. Senators

Amazon is being pressured into being more transparent with its system of awarding the “Amazon’s Choice” badge onto certain products. In a development pregnant with multiple outcomes the sum of which may not favor Amazon.com Inc, two U.S. senators have questioned Amazon.com Inc’s Chief Executive Jeff Bezos on how it awards the “Amazon’s Choice” badge…

Brazilian used car portal receives $16.6 million in latest funding round

Brazil’s second-hand car market is booming and Volanty’s latest funding is proof of that. On Thursday, Volanty, a digital used car portal in Brazil stated, it has received a funding of $17.6 million (70 million reais) from a consortium of venture capital funds led by Japan’s SoftBank and Kaszek of Argentina. The development comes in…

Didi Chuxing launches autonomous self-driving unit

The autonomous driving unit will function as an independent company. On Monday, China’s ride hailing firm Didi Chuxing stated it has launched an autonomous driving unit as an independent company. The business will focus its resources on research and development activities as well as deepen its collaboration with automakers. Zhang Bo, Didi’s chief technology officer…