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Supply Chain Issues Would Be Stabilized This Quarter, Hopes Daimler CEO

The German auto-making giant Daimler AG expects to stabilize its supply chain for semiconductor chips during this current quarter, said the company’s Chief Executive Ola Kaellenius.   However, the company also anticipates that it would not be until 2023 that the global auto industry will see...

China's Evergrande Avoids A Debt Default While Indicating Business Focus Shift

According to reports quoting sources with information, China Evergrande Group has apparently managed to have avoided a default with a last-minute bond coupon payment, giving it another week to deal with a debt crisis hanging over the second-largest economy of the world.   In the future, it...

US FDA Approves Roche's Implant For Chronic Eye Disorder

The United States Food and Drug Administration granted permission to Roche Holding AG for its eye implant used for treating a chronic disease that causes impaired vision. This will now provide patients with an alternative of having to take monthly eye injections under the currently available...

More Time Needed For Tesla’s New Factories To Ramp Up Production

After beating Wall Street forecasts for third-quarter revenue driven by record deliveries, United States based electric car maker Tesla Inc has said that there would be pressure on its margins because of forthcoming plants and supply-chain challenges.   Compared to its competitors, Tesla,...

Renault Will Have A Bigger Production Cut Due To Chip Shortage: Reports

Carmakers around the world are troubled with the shortage of semiconductor chips and many have already downgraded their targeted production for the current year.   The latest to join the list is the French carmaker Renault.   The global scarcity of semiconductor chips has forced the...

Its In-House Developed ARM-Based Server Chip Unveiled By Alibaba

A new processor that it will use for powering its servers in its data centers has been developed by Chinese tech giant Alibaba Group Holding Ltd, the company announced on Tuesday.   This is the latest move by the Chinese firm into the sphere of semiconductors which is in line with what a...

Bloomberg Estimates Value Of Netflix's 'Squid Game' At About $900 Mln

According to a report by Bloomberg News, the estimated value of the "Squid Game," the biggest original online streaming series launched by Netflix Inc, is almost $900 million for the streaming giant.   The valuation estimation was based on figures from an internal Netflix document.  ...

Product Recall And Parts Shortages Prompts Philips To Lower Outlook

The third-quarter earnings of the Dutch health technology company Philips were severely hit by a severe global shortage of electronic components and a huge recall of the company’s respiratory devices which prompted the firm to lower its forecast for sales and profit growth in 2021 in an...

Taiwan's Foxconn Unveils Prototypes Of Three Electric Vehicle

The Taiwanese electronic giant Foxconn unveiled its first three electric vehicle prototypes on Monday. The event strongly reflected the high ambitions of the tech company to diversify into a sector other than what it is best known for – making producing consumer electronics for Apple Inc. and other...

Evergrande's Swedish Electric Vehicle Business Is Up For Sale, Said CEO

As its Chinese parent fights to make payments on more than $300 billion in debts, China Evergrande Group's Swedish electric vehicle business unit is in discussions with the United States and European venture capital companies and industrial partners to find a prospective buyer for the Chinese owned...

Endowment Gains To $53.2 Bln Reported By Harvard, World's Wealthiest University

The total endowments to Harvard University, which is identified already as the wealthiest one in the world, has increased by 34 per cent and had grown to reach $53.2 billion in the fiscal year of the institution that ended in June this year, the varsity said earlier in the week.   This large...

Labour Shortage Prompts Rio Tinto To Trim Its Iron Ore Shipments Forecast For 2021

Following the delay in the completion of a new greenfield mine at Gudai-Darri due to a shortage of labor market in Western Australia forced the mining giant Rio Tinto Group to trim down its iron ore shipment forecast for 2021 on Friday.   "It has been another difficult quarter operationally...
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