On Tuesday, following Panasonic Corp’s first quarter report, shares of Asian companies in Tesla Inc’s battery supply chain surged. Panasonic’s battery venture with Tesla has boosted investor confidence in the U.S. electric vehicle (EV) maker. Panasonic’s first quarterly profit from its $1.6 billion investment in Tesla’s Gigafactory is also another validation of Tesla founder Elon…
HP’s expects to cut 7,000 to 9,000 jobs through a combination of employee exits and voluntary early retirement and save around $1 billion by fiscal year 2022. U.S. personal computer maker HP Inc stated, it will cut up to 16% of its workforce as part of a restructuring measure aimed at pruning costs. In a…
This interesting turn of events is likely to set a legal precedent especially in critical areas of core IT infrastructure such as 5G. In a significant development, the U.S. Justice Department has asked a federal appeals court to pause the enforcement of a sweeping antitrust ruling against Qualcomm Inc citing support from the Department of…
This strategic investment aligns multiple sweet spots: in a single stroke Elon Musk is increasing Tesla’s footprint in China, the world’s biggest auto market, boosting production capacity and export potential while facing Chinese EV startups head-on. In a development that marks Tesla’s latest attempt to boost its footprint in China, as per a local business…
HNA Technology Co Ltd has reported the same in a filing to the Shanghai stock exchange albeit without disclosing the name of the buyer. On Monday, as per China’s HNA Technology Co Ltd’s filing to the Shanghai stock exchange, it is holding preliminary talks with a concerted party to sell U.S. electronics distributor Ingram Micro…
The amount that is being raised falls short of the $25 billion mark that was raised by Alibaba Group Holding Ltd in its 2014 IPO. As per a regulatory filing, in what is slated as Japan’s biggest-ever IPO, SoftBank Corp has priced its initial public offering (IPO) at 1,500 yen per share; it will be…
Ahead of its launch, Spotify and the music group of China’s Tencent Holdings Ltd have aligned their interests for future negotiations with music labels. On Friday, a report by the Wall Street Journal stated China’s Tencent Holdings Ltd and Sweden’s Spotify AB are in talks to swap stakes of up to 10% of each other’s…
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