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…
United Airlines Holdings Inc announced it has placed an order for 50 A321XLR jets from Airbus SE which will fly between the U.S East Coast and Europe. With this United Airlines has become the latest U.S. airliner to purchase passenger jets from Airbus rather than Boeing. United Airlines aims to replace 53 Boeing 757-200 with…
This acquisition is Google’s entry into the wearable device market. In a development that marks Alphabet Inc-owned Google’s intention of entering the fitness trackers and smartwatches market, the search engine giant said it will acquire Fitbit Inc for $2.1 billion. On Friday, the wearable device maker said it had been offered $7.35 per share in…
Fitbit’s latest feature packed Versa 2 beats the majority of its competitor on the battery life feature alone since it can last upto 5 days against Apple’s smartwatch 2 days. With Fitbit Inc launching the Versa 2, which features Amazon.com’s voice assistant Alexa, ability to make online payments and store music, its shares surged by…
It is interesting to note that Tesla is not sourcing its batteries from China but has instead opted to import them from South Korea’s LG Chem to keep its Gigafactory in Shanghai running. On Friday, as per a Bloomberg report report citing sources familiar with the matter at hand, Tesla Inc has agreed to purchase…
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…
This is the first such development in Southeast Asia. Clean energy solutions have finally arrived. On Monday, in a first such development in Southeast Asia, Royal Dutch Shell stated, it has launched electric vehicle chargers at petrol stations in Singapore. The electric vehicle charging service, branded as ‘Shell Recharge’, will be available at ten Shell…
Uber is on the lookout for expanding its areas of business even as its tries to strengthen its core business competency. According to two sources familiar with the matter at hand, Uber Technologies Inc is likely to offer more than $3 billion for acquiring its Dubai-based rival Careem Networks FZ. As per a third source,…
Carmakers are pushing to slash R&D costs related to the design of electric battery cells so as to bring down the cost of launching electric cars. In a strategic move aimed at slashing the cost of launching electric vehicles, Daimler’s chief of research and development, Ola Kaellenius, stated, it is open to collaborating with a…
Tech-savvy KKR has prior experience in the music industry given its earlier deal with Bertelsmann; however negotiations with Vincent Bollore are expected to be tough, especially if KKR and Tencent push for a controlling stake. According to sources familiar with the matter at hand, China’s Tencent Music Entertainment Group and U.S. buyout fund KKR are…
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