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Secret Deal Between China And Apple CEO Tim Cook Worth $275 Billion

Stellantis Expects To Generate Revenue From Its Planned Software For Its Cars

Reader's Pick

Its First All-Electric Car, Developed With Toyota, Unveiled By Japan's Subaru 11/11/2021

Following Announcement By Facebook, Disney To Venture Into The World Of Metaverse 11/11/2021

Pace Of Alibaba's Singles Day Sales Growth Slowest Ever At 8.5% 11/12/2021

Walmart Issues Better Than Expected Sales, Profit Forecasts As It Offsets Supply Chain Woes 11/16/2021

iPhone Assembler Foxconn Cautions Of Slump In Q4 Revenues Due To Chip Shortage 11/12/2021

Latest Business News
Secret Deal Between China And Apple CEO Tim Cook Worth $275 Billion

Secret Deal Between China And Apple CEO Tim Cook Worth $275 Billion

Companies

According to a claim made in ‘The Information’, Apple CEO Tim Cook had "secretly" inked a $275 billion pact with Chinese officials which was reportedly aimed at Apple assisting China in improving its economy and technical skills.   The Information disclosed in a detailed paywall article based on interviews and supposed internal Apple papers that Tim Cook personally formed a five-year deal...
Stellantis Expects To Generate Revenue From Its Planned Software For Its Cars

Stellantis Expects To Generate Revenue From Its Planned Software For Its Cars

Companies

Auto major Stellantis is targeting to achieve a revenue target of 20 billion euros ($22.54 billion) by 2030 goods and subscriptions associated with its software in its aim to rival Tesla, the company said as it unveiled its software plan earlier this week.   According to CEO Carlos Tavares, the world's fourth largest automaker expects to have 34 million connected vehicles on the road by...
Ford’s COO Says It Wants To Second World’s Largest Electric Vehicle Maker In Two Years

Ford’s COO Says It Wants To Second World’s Largest Electric Vehicle Maker In Two Years

Companies

Ford Motor Co intends to become the second biggest electric car maker of the world within the next two years, the American auto giant said.   A top official of the company said that this is aimed to be achieved using a manufacturing capacity of more than 600,000 electric vehicles at its factories.   This optimistic target was accepted by the company because of the rising demand for...
Didi’s Decision To Delist From NYSE Prompts A 20% Plunge In Its US Listed Stocks

Didi’s Decision To Delist From NYSE Prompts A 20% Plunge In Its US Listed Stocks

Companies

Didi Global, the Chinese ride-hailing behemoth, announced its intentions to withdraw from the New York Stock Exchange and pursue a Hong Kong listing, just five months after its debut. This marks a remarkable turnaround in the strategy of the company which has arguably bowed down to pressures from Chinese regulators who were enraged by the company launching its IPO in the United States.  ...
EU Court Adviser Says Consumer Groups Could Sue Facebook

EU Court Adviser Says Consumer Groups Could Sue Facebook

Companies

In a German online gaming case that might pave the way for similar action throughout the EU, an advisor to Europe's highest court suggested on Thursday that Facebook could be sued by consumer organisations for privacy infringement.   The complaint dates back to 2012, and it is one of numerous privacy and antitrust issues that Facebook is dealing with in Europe, where authorities have...
EU Fines HSBC, Credit Suisse, Other Lenders Fined By EU On Charges Of Running A 'Sterling Lads' Forex Cartel

EU Fines HSBC, Credit Suisse, Other Lenders Fined By EU On Charges Of Running A 'Sterling Lads' Forex Cartel

Companies

Barclays, Credit Suisse, HSBC, and NatWest were slapped fines totalling 344 million euros ($390 million) by antitrust officials of the European Union on Thursday over charges of manipulating the foreign exchange spot trading market.   UBS narrowly managed to avoid a 94 million euro penalty as it had informed the European Commission about the cartel, which was organised and operated using a...
Chinese Factory Activity For November Drops Back Into Contraction, Shows Caixin PMI

Chinese Factory Activity For November Drops Back Into Contraction, Shows Caixin PMI

Markets

According to a business survey released on Wednesday, China's manufacturing activity slid back into recession in November due to weak demand, declining employment, and rising costs.   In November, the Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) dropped to 49.9 from 50.6 the month before, falling short of expert forecasts of 50.5 according to a Reuters’ survey. On a monthly...
Global Demand For Jet Fuel Falls Due To Travel Restrictions Linked To The Omicron Variant

Global Demand For Jet Fuel Falls Due To Travel Restrictions Linked To The Omicron Variant

Markets

Markets for aviation-related fuels around the world were in a state of flux as several countries increased border security to fight the latest Omicron coronavirus strain, causing travellers to reconsider their travel plans.   According to an earlier report by the International Energy Agency, the demand for jet fuel was the most lagging component in the oil industry as the Agency...
With Twitter Burden Off His Shoulder, Jack Dorsey Can Now Focus On His Passion For Bitcoin

With Twitter Burden Off His Shoulder, Jack Dorsey Can Now Focus On His Passion For Bitcoin

Companies

The business was "ready to move on from its founders" said Twitter's co-founder and CEO, Jack Dorsey, as he resigned as the head of the company.   Now that he does not have the burden of heading one of the most popular social media companies of the world, Dorsey presumably will have more time at hand to devote to Square, the payments business he co-founded and now manages. He would also be...
A Potential £17m Over Data Privacy To Be Slapped On Australian Facial Recognition Company

A Potential £17m Over Data Privacy To Be Slapped On Australian Facial Recognition Company

Companies

Australian firm that claims to possess a database that includes over 10 billion face pictures is likely to face a £17 million fine for the handling of personal information across the UK.   The Information Commissioner's Office of the United Kingdom said it was concerned regarding Clearview AI, whose facial recognition software is employed for police purposes.   It has instructed the...
Costly Flaw Of Paint On Airbus Planes Expands Beyond The Gulf

Costly Flaw Of Paint On Airbus Planes Expands Beyond The Gulf

Companies

There is a disagreement with Airbus as well as Qatar Airways over paint and imperfections on the surface of A350 aircrafts extends over the Gulf as well, with at most five other airlines expressing concerns since the model's high-tech was launched, according to documents obtained by Reuters as well as several individuals who have direct knowledge of the issue.   The Qatari national carrier...
Nissan Announces Electrification Program Worth $18 Bln To Compete With Rivals

Nissan Announces Electrification Program Worth $18 Bln To Compete With Rivals

Companies

Nissan Motor Co announced it will invest 2 . trillion yen ($17.59 billion) over the next five years in order to speed up the process of electrifying vehicles to keep pace with rivals within one of the fastest-growing areas for automakers.   It's the first time that Japan's No.3 automaker, which was one of the first major electric car (EV) manufacturers with its Leaf model that was launched...

World

Rainfall At Ice Summit In Greenland For First Time Ever

Rainfall At Ice Summit In Greenland For First Time Ever
For the first time since records were kept, there was rainfall at the highest point on the Greenland ice sheet last week. According to scientists, this is a troublesome sign that the ice sheet was...

EU’s Attempt Of An Infrastructure Plan To Rival China's 'Belt And Road' Boosted By G7 Support

EU’s Attempt Of An Infrastructure Plan To Rival China's 'Belt And Road' Boosted By G7 Support
Following deals with India and Japan and support from the Group of Seven richest democracies, foreign ministers of the European Union have agreed on the launch of a global infrastructure plan seeking...

Biden Revokes Trump Ban On Tiktok, Wechat But Orders New Review

Biden Revokes Trump Ban On Tiktok, Wechat But Orders New Review
A series of Trump-era executive orders aimed at China were withdrawn by US President Joe Biden. Those executive orders that were passed by the former President Donald Trump were aimed at banning new...

Increased Likelihood Of Mild To Moderate Symptoms From Mix And Match Covid-19 Vaccine, Finds A New Study

Increased Likelihood Of Mild To Moderate Symptoms From Mix And Match Covid-19 Vaccine, Finds A New Study
A study in the United Kingdom to understand the effect on people of having two doses of two different Covid-19 vaccines found greater likelihood of reporting of mild to moderate symptoms for mix and...

Following Tit-For-Tat Sanctions, Ratification Of EU-China Trade Deal ‘Suspended’

Following Tit-For-Tat Sanctions, Ratification Of EU-China Trade Deal ‘Suspended’
Following tit-for-tat sanctions that were imposed kin March over the China’s treatment of its Uyghur population, the efforts to ratify a massive investment deal between China and the European Union...

People

Musk Conducts Poll On Twitter About Selling Or Not Selling 10% Of His Tesla Stock

Musk Conducts Poll On Twitter About Selling Or Not Selling 10% Of His Tesla Stock
Elon Musk, the chief executive of Tesla Inc, resorted to asking his 62.5 million followers on Twitter, through a poll, about whether he should sell off 10 per cent of the stocks in Tesla that he...

Covid-19 Booster Dose Of Pfizer Cleared By US FDA For Older And At-Risk Americans

Covid-19 Booster Dose Of Pfizer Cleared By US FDA For Older And At-Risk Americans
The Food and Drug Administration of the United States approved a booster dose from the Pfizer Inc and BioNTech Covid-19 vaccine for individuals 65 years and older, as well as all those who are at...

British Health Body Claims Two Shots Of Covid-19 Vaccine Effective Against India Variant

British Health Body Claims Two Shots Of Covid-19 Vaccine Effective Against India Variant
Health officials in the United Kingdom have said that the efficacy and effectiveness of a double dose of Covid-19 vaccines is almost the same for the fast spreading variant of the coronavirus that...

US Restarts Use Of J&J Covid-19 Vaccine After A 10-Day Pause

US Restarts Use Of J&J Covid-19 Vaccine After A 10-Day Pause
The United States ended its 10-day pause for the use of the cxovid-19 vaccine from Johnson & Johnson and the country can now use the vaccine immediately.   The usage was halted to...

The Most Common Side Effects After Receiving Covid-19 Vaccine Listed By America’s CDC

The Most Common Side Effects After Receiving Covid-19 Vaccine Listed By America’s CDC
Data about the most common side effects reported by Americans after taking shots of the Covid-19 vaccine from Pfizer or Moderna was released by the United States’ Centers for Disease Control and...

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