In a statement Uber Technologies Inc said, it is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora; the development underscores Uber Technologies Inc’s drive to accelerate its goal to achieve profitability. According to sources familiar with the matter at hand, the equity deal values ATG at $4 billion,…
On Tuesday, Nissan Motor Co Ltd stated, starting from next month, it will sell a redesigned version of its best-selling Note compact car in Japan, which will feature new hybrid drive technology. The move is aimed at winning market share from Honda Motor Co Ltd and Toyota Motor Corp. The Note’s first full model change…
On Wednesday, Bloomberg reported that Nissan Motor Co plans on undertaking an annual $2.8 billion fixed costs restructuring as it braces for a drop in sales, which could complicate its recovery from years of poor profitability. Following 3 years of poor profits, Nissan is set to announce its restructuring plan on May 28. It is…
In a statement, German airline Group Lufthansa said, if the Wuhan coronavirus which has gone pandemic lasts for a long time, it would be very difficult for the airline industry to survive without state help. Lufthansa, which has slashed flight capacity, suspended its dividend and has introduced short-time working, said it was impossible to forecast…
In a statement, South Korea’s LG Chem and General Motors Co disclosed, they plan on investing $2.3 billion to build an electric vehicle battery cell joint venture plant in Ohio, in what is stated to be one of the biggest battery facilities in the world. The plant, which will be built near GM’s closed assembly…
Although Intel’s server chips will be launched next year, industry experts opine that machine learning features along with better memory management techniques could provide Intel the edge. Having said that, competition in the server chip space is always good since it lowers cost and improves efficiency. On Thursday, Advanced Micro Devices Inc stated, following the…
Intel is however assessing opportunities for 4G and 5G modems for other data centric devices. In a significant development, Intel Corp disclosed it was exiting the 5G smartphone modem business; it is however assessing opportunities for 4G and 5G modems for internet of things (IoT) devices, PCs, and other data-centric devices. “…in the smartphone modem…
SAP’s CFO, Luka Mucic stated, the German business software firm will be able to scale up growth and profitability at Qualtrics. On Friday, SAP’s Chief Financial Officer, Luka Mucic stated, the German business software company expects its margins to continue to expand despite its $8 billion acquisition of U.S. online consumer sentiment tracking company Qualtrics.…
Samsung sees the DRAM memory market rising by 20% in 2018, while the NAND Flash memory market by 30%, down from its earlier forecast of 40%. According to a report from Bloomberg which cites 3 sources familiar with the matter at hand, Samsung Electronics Co Ltd plans to lower its production of memory chips in…
The profit guideline, for the fourth quarter, by the Britain-based IT services firm beat analysts’ expectation despite being hurt by weaknesses in the domestic market because of Brexit. On Monday, Computacenter Plc, an IT services firm, stated that its adjusted pretax results are likely to beat analysts’ expectations. This latest raising of its earning guidance…
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