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Auto Chip Making Will Be Prioritized By TSMC If Possible, Says Taiwan Ministry: Reuters

Volkswagen Debating About Placing Claim For Damages Over Suppliers Over Chip Shortage

Reader's Pick

Search For Design Head To Cater To Chinese Market Being Done By Tesla: Reuters 01/11/2021

Hyundai Holding Early But Unspecified Talks With Apple, Local Media Claims The Two Discussing Electric Vehicles 01/08/2021

Global Cryptocurrency Market Value Surges Past $1 Trillion With Bitcoin Hitting $38,000 01/07/2021

Bitcoin Surges Past $30,000 In Value For First Time 01/03/2021

Nissan Motor’s Revival Plan Will See It Reducing Presence In Europe: Reports 01/04/2021

Latest Business News
Auto Chip Making Will Be Prioritized By TSMC If Possible, Says Taiwan Ministry: Reuters

Auto Chip Making Will Be Prioritized By TSMC If Possible, Says Taiwan Ministry: Reuters

Markets

The global auto industry is struggling with a shortage of chips for cars. Various countries have appealed to the Taiwanese authorities to increase production of semiconductor chips used in cars over the weekend.   In its response the Economics Ministry of Taiwan said that production of auto chips would be prioritized by the Taiwan Semiconductor Manufacturing Co Ltd (TSMC) if the company is...
Volkswagen Debating About Placing Claim For Damages Over Suppliers Over Chip Shortage

Volkswagen Debating About Placing Claim For Damages Over Suppliers Over Chip Shortage

Companies

The German car manufacturer and the largest auto making company of the world by Volume – Volkswagen is discussing with its major suppliers about the possibility of making a claim for damages to it because of the shortage of semiconductors, said reports quoting a company spokesman.    A shortage of production and delivery of auto chips has forced auto companies al around the world to...
Despite Covid-19 Pandemic Volkswagen Reports Profits Of $12 Billion In 2020

Despite Covid-19 Pandemic Volkswagen Reports Profits Of $12 Billion In 2020

Companies

Despite the novel coronavirus pandemic in 2020 caused huge disruption to the global auto industry and upended supply chains of auto companies, the German car maker Volkswagen has ended the tormenting year with a profit of more than $12 billion.   Volkswagen is expecting to achieve operating profits of €10 billion ($12.2 billion) for 2020 because of a strong performance at the end of the...
British Firms Advised To Open New Companies In EU To Avert Brexit Costs

British Firms Advised To Open New Companies In EU To Avert Brexit Costs

Markets

In order to avoid the extra charges, paperwork and taxes resulting from Brexit, business in the United Kingdom that are engaged in exporting to the European Union are being encouraged by the British government’s trade advisors to open up separate companies within eth EU, claimed report in the British media.   Reports claimed that advisers working for the Department for International Trade...
A Host Of Trump Policies Rolled Back By US President Biden On First Day At Office

A Host Of Trump Policies Rolled Back By US President Biden On First Day At Office

Markets

Soon after assuming the position of the President of the United States, 15 executive orders were assigned by Joe Biden which essentially rolled back the policies that are implemented by the former president Donald Trump while also taking the first measures to combat the Covid-19 pandemic in the country.   There was "no time to waste" in issuing the executive orders, memorandums and...
Audi To Start A JV With Chinese Auto Maker FAW To Make Electric Cars

Audi To Start A JV With Chinese Auto Maker FAW To Make Electric Cars

Companies

German auto maker Audi will make luxury electric vehicles in China in a joint venture with China's oldest carmaker FAW.   Hongqi - or Red Flag – limousines that are used by the China's communist party leaders, are among the pride products of FAW, the third largest carmaker of China. In recent years, this Chinese company has been trying to become competitive in its home market and compete...
30-Month Prison Term In Bribery Case Slapped On Samsung's Lee

30-Month Prison Term In Bribery Case Slapped On Samsung's Lee

Companies

The ownership restructuring plans of the South Korean electronics giant Samsung Electronics could get delayed because of a court sentenced passed against the vice chairman of the company Jay Y. Lee for a jail term of two and a half years on Monday. The patriarch of the company and Lee’s father had passed away in October last year.   According to analysts, the strict verdict by the court...
Trump’s Last Jibe At China, Sanctions More Chinese Officials And Firms

Trump’s Last Jibe At China, Sanctions More Chinese Officials And Firms

Markets

New sanctions on Chinese officials and companies were imposed this week by the Trump administration of the United States over alleged misdeeds in the South China Sea while also imposing a ban on American investing in nine more Chinese companies in what is being viewed as another hit on China and its biggest companies.   These measures were announced just days prior to Trump handing over...
Travel Characteristics Not To Be The Same As Before, Says Airbnb CEO

Travel Characteristics Not To Be The Same As Before, Says Airbnb CEO

Markets

The trend and characteristic of travelling across the world will have been changed permanently by the novel coronavirus pandemic as people choosing to lookout for thousands of smaller cities to spend vacations and for holidays as well as spend more time to visit and meet up with friends and family, said Airbnb Chief Executive Officer Brian Chesky while talking about the future of the global...
Shoppers 'Treat Themselves' During Pandemic-Ridden Christmas Helping Tesco To Report Record Sales

Shoppers 'Treat Themselves' During Pandemic-Ridden Christmas Helping Tesco To Report Record Sales

Companies

With people in lockdown in the United Kingdom because of the second wave of Covid-19 pandemic ordering more deluxe range products online, "record" sales over Christmas was reported by the largest retailer of the UK – Tesco.    In the six weeks to 9 January, there was an 8.1 per cent rise in the like-for-like sales of the company in the UK while its Tesco Finest range of products saw a...
The First Foreign Company In China To Fully Own A Payments Business Is PayPal

The First Foreign Company In China To Fully Own A Payments Business Is PayPal

Companies

The first foreign company in China to own a 100 per cent control of a payment platform in the country is Holding Inc, according to data available from the Chinese government.   This is a boost to the aim of the United States based fintech giant to make larger inroads into the booming Chinese market of digital payments. Aaccording to shareholder data from the National Enterprise Credit...
Strong Pandemic Sale Prompted UK’s Hut Group To Upgrade Profit Forecast For 2021

Strong Pandemic Sale Prompted UK’s Hut Group To Upgrade Profit Forecast For 2021

Companies

Profit forecasts by the online retail company that was recently went public, The Hut Group, which is owned and run by the Matthew Moulding, have been raised after the company experienced strong demand and sales for its beauty and sports nutrition brands during the novel coronavirus pandemic era.   There was a 51 per cent growth in the sale of the company during its fourth quarter which...

World

Decision On Brexit Deal To Be Taken In New Year, Says EU Parliament

Decision On Brexit Deal To Be Taken In New Year, Says EU Parliament
It will not be until the new year that the European Union will be able to review and analyse the agreement on trade for Brexit in detail that was struck between the United Kingdom and the European...

Japan PM Pledges Carbon Neutrality By 2050

Japan PM Pledges Carbon Neutrality By 2050
Japan, the third largest economy of the world, will become carbon neutral by 2050, said the country’s prime minister, Yoshihide Suga. This is the latest efforts of the Japanese government at tackling...

UK Set To Cancel Extradition Treaty With Hong Kong, Says British Newspapers

UK Set To Cancel Extradition Treaty With Hong Kong, Says British Newspapers
Taking its dispute and tensions with China a step further, the UK government decided to suspend an extradition treaty that its it had with Hong Kong because of the imposition of the new controversial...

Virus Pandemic Forces Japanese Government To Declare Emergency For Tokyo, Osaka

Virus Pandemic Forces Japanese Government To Declare Emergency For Tokyo, Osaka
Japanese Prime Minister Shinzo Abe declared a declared a state of emergency in Tokyo and its surrounding regions over the growing threat of the coronavirus pandemic and warned that capacity...

Study Warns Of Second Waves Of Covid-19 Due To Early Lifting Of Lockdowns

Study Warns Of Second Waves Of Covid-19 Due To Early Lifting Of Lockdowns
According to researchers, a second wave of infection of the coronavirus could be delayed in China by extending the closures of school and work at the ground zero of the pandemic. Researchers also...

People

More Than 1,200 Ventilators Donated To California By Tesla CEO Elon Musk

More Than 1,200 Ventilators Donated To California By Tesla CEO Elon Musk
Even though he had initially been skeptical of the coronavirus pandemic, Tesla chief executive office Elon Musk has since helped the authorities in California to acquire much needed medical supplies...

Teenage Climate Activist Greta Thunberg Wants Ot Trademark Her Name

Teenage Climate Activist Greta Thunberg Wants Ot Trademark Her Name
Teenage Swedish climate activist Greta Thunberg is looking to trademark her own name as well as that of her movement as she says that the names are being misused by ‘impostors’ and marketers. This...

Jeff Bezos' Phone Hacking Allegedly By Saudi Hackers Needs To Be Investigated, Says The UN

Jeff Bezos' Phone Hacking Allegedly By Saudi Hackers Needs To Be Investigated, Says The UN
Reports of the alleged use of a WhatsApp account belonging to Saudi Crown Prince Mohammed bin Salman for delivering a malware to the mobile phone of Amazon CEO Jeff Bezos has made experts at the...

Facebook's Zuckerberg Will Focus On Long Term Goals Instead Of Annual Ones

Facebook's Zuckerberg Will Focus On Long Term Goals Instead Of Annual Ones
No more annual targets for Facebook Inc Chief Executive Officer Mark Zuckerberg. The co-founder of the largest social media company of the world said on Thursday that he would no longer focus on the...

Japanese Prosecutors Want To Arrest Ghosn’s Wife To Rein In The Former Nissan Boss

Japanese Prosecutors Want To Arrest Ghosn’s Wife To Rein In The Former Nissan Boss
An arrest warrant on charges of alleged perjury was issued against the wife of Carlos Ghosn by Japanese prosecutors on Tuesday in an effort of the prosecutors to bring back Ghosn into Japan and make...

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