On Monday, in a significant development South Korea’s LG Electronics Inc said it will stop the production and sales of its loss-making smartphone division. Earlier this year in January, LG had announced that it was considering all options for the business after recording nearly six years of losses totaling to nearly $4.5 billion. Talks to…
In a statement on Thursday, Britain’s IG said, it plans to acquire tastytrade, a U.S. trading platform, for $1 billion. The development will see IG venturing into North America following a stellar year for the new breed of retail investment brokerages. The Coronavirus induced COVID-19 pandemic which brought lockdown in most countries increased market volatility…
Tesla Inc is recalling 15,000 Model X SUVs in North America because of a potential issue that can lead to a loss of power steering assist which will make steering harder and increase the risk of a crash. In a statement, the National Highway Traffic Safety Administration (NHTSA) and Transport Canada stated, the aluminum bolts…
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…
With Beijing’s policymakers and regulators intent on transitioning from fossil fuel powered vehicles to more electric vehicles, China is set to become the automotive powerhouses in the world. In a development aimed at accelerating the adoption of electric vehicles, automakers from across the globe are planning a $300 billion surge in their spending on electric…
Users across the globe have taken to twitter with the #instagramdown hashtag, complaining that the service is down. On Wednesday, users of of Facebook’s photo and video sharing app, Instagram complained of outage. Users across several cities spread across the globe, including London, San Francisco and Singapore took to Twitter complaining about the outage with…
The wiring issue had led to a short circuit incident in Japan which produced smoke from the vehicle. On Wednesday, Toyota Motor Corp stated, it plans on recalling nearly 1.03 million vehicles from various markets including North America, Europe and Japan due to an issue with the engine wire harness which can pose a fire…
GM’s interest in fully automated autonomous cars comes from the fact that “several hundred thousands of dollars” can be generated in revenue from the lifetime of one in comparison to an average $30,000 for one of its traditional vehicles. Executives from General Motors Co disclosed that the automaker is seeking approval from the U.S. government…
Ford’s strategy is woven around consumer feedback and the growing demand for autonomous automated vehicles. Jim Hackett, Ford’s CEO, revealed that the firm is reviewing its product portfolio since consumers have shown a preference for SUVs which have fuel efficiencies closer to sedans. At a Ford event in Detroit, Hackett said although in the past…
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