Robinhood’s shares tumble after news of PayPal’s online brokerage services

Share of Robinhood Markets Inc fell by nearly 7% on Monday following a news that PayPal Holdings Inc may start an online brokerage service. Reports have also emerged saying, regulators were looking at imposing a potential ban on a practice that accounts for the bulk of the company’s revenue. Shares of Robinhood extended an early…

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Chemicals giant INEOS to help develop Scotland’s first carbon capture storage system

On Friday, chemicals giant INEOS said, it will collaborate with the Acorn carbon capture and storage project to help develop Scotland’s first carbon capture storage system. According to scientists, technology to capture and store carbon dioxide (CO2) emissions will be key in meeting climate goals set by the Paris agreement designed to limit global warming…

Formula One plans to expand into the electric car segment with investment of $420M

On Tuesday, in a statement the Gordon Murray Group which makes supercars said, it plans on investing $420M (300-million-pound) spread over 5 years to expand into the electric car segment; it plans on developing electric SUVs and delivery vehicles for carmakers as it shifts towards an all-electric supercar by 2030. “Electric is what we’ve been…

Electric vehicle startup Fisker mulls prismatic cell battery manufacturing unit in partnership with major supplier in either US or Europe

In a statement Fisker Inc’s chairman and CEO Henrik Fisker said, the electric vehicle startup is weighing options to set up a battery cell manufacturing facility with a major supplier in either Europe or the United States. The move is aimed at securing components in its supply chain. Earlier Fisker had struggled with the recall…

Hyundai Motor Group acquires 80% stake in Softbank Group-owned Boston Dynamics

According to a source familiar with the matter at hand, Hyundai Motor Group has agreed to acquire a 80% stake in Boston Dynamics from SoftBank Group in a deal worth around $736 million to $828 million (800 billion to 900 billion won). The development assumes significance since Hyundai can leverage the technology to expand automation…

Virgin Hyperloop completes world’s first passenger ride trial on super high speed levitating pod system

In a significant development, in a statement Richard Branson’s Virgin Hyperloop said, it has completed the world’s first passenger ride on a super high-speed levitating pod system. The development marks the passing of a key safety test in this next generation transportation technology which will transform human and cargo transportation in the coming future. In…

Foxconn aims to capture 10% of global EV market share between 2025-2027

On Friday, Foxconn’s Chairman Liu Young stated, the company aims to capture 10% of the global market share for electric vehicles between 2025-2027; to this end it has entered into talks with multiple carmakers for future cooperation. “We want to push Taiwan’s EV industry to the world,” said Liu Young. Foxconn, a major supplier to…

China’s financial leasing arm cancels orders for 29 Boeing 737 MAX jets

On Monday, adding to its string of recent cancellations, China Development Bank (CDB) Financial Leasing Co stated, it has agreed with Boeing, to cancel the purchase of 29 undelivered 737 MAX jets. The 737 MAX has been grounded globally for more than a year following deadly crashes in Indonesia and Ethiopia. “In light of evolving…