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Renault Forecasts Profits For 2021 Despite Chip Crunch And Higher Raw Material Costs

Even in the face of a global shortage in semiconductor chips and rising raw material costs curbed its car production, French carmaker Renault said it expected to be able to deliver profits for the full year of 2021.   The French company said its expected loss to production because of the...

Amazon Forecasts Continued Slowdown In Growth Despite Record Quarterly Profits

With the rollout of Covid-19 vaccines allowing customers to venture more outside the home and shop at physical stores more than during the pandemic, a warning of a slow down in sales growth in the next few quarters was issued by Amazon.com Inc on Thursday.   This coincides with Andy Jassy...

France's BNP Sees Profit Growth With Pandemic Blow Cushioned By The Government

Unprecedented support from the French government to keep the economy afloat during the coronavirus pandemic benefited the country’s biggest listed lender BNP Paribas as it cut down on provisions for unpaid loans.   Banks across Europe have been able to shield profits as borrowers were able...

Uber Shares Fall After Reports Of Offloading 45 Million Shares By SoftBank

Following reports that the Japanese investment firm SoftBank, one of the major investors of the ride hailing company Uber, was set to sell off about one third of its stake in the country, the shares of the United States based tech startup dropped significantly.   Recent reports quoting...

Despite Growth In Sale Revenues, Nestle Warns On Margins

While reporting strong organic sales for the first half of the current year because of strong demand for coffee, Nestle also cautioned investors against slight squeezing of margins for the year due to input cost inflation. Its gull year growth forecast was however raised by the world's biggest food...

Intel To Build Qualcomm Chips Will Be Built At Intel Factories

Semiconductor chips for Qualcomm Inc will now be manufactured in factories of United States based chip maker Intel Corp.   Making this announcement the US based company also laid out a roadmap for expansion of its new foundry business so that it is able to catch up with its rivals such as...

Starbucks To Exit Its South Korean JV Which Is Valued At Over $2 Bln

Its joint venture in South Korea is will be ended by Starbucks Corp as the company has decided to sell off a part of its stake to local partner E-Mart Inc and the rest of its share to GIC, Singapore's sovereign wealth fund. The value of the Starbucks joint venture is touted to be valued at more...

Indian Startup Zomato's Stellar Stock Market Debut Sets Up Stage For Other Indian Tech Listings

There was a massive 65.8 per cent surge in the stocks of the Indian food delivery firm Zomato Ltd in its stock market debut on Friday which set the value of the company at 988.49 billion rupees ($13.28 billion) while also and setting up the stage for other domestic Indian startups to plan their own...

Armani Stages Strong Bounce Back From Pandemic Hit In H1 With 34% Jump In Sale

A surge in sales in China and the United States helped the Italian fashion group Giorgio Armani to report a 34 per cent jump in sales for the first half of 2021 as the company strongly bounced back from the pandemic hit to its business.   The brand however said that a complete recovery for...

GM And Cruise Approaches To Stop Ford Using 'Bluecruise' Name For Hands-Free Driving

A federal court in the United States has been approached by General Motors Co and its Cruise robo-taxi subsidiary to stop the use of the name "BlueCruise" by Ford Motor Co in its marketing campaign for its hands-free driving technology.   This was stated by GM on Saturday.   The use...

Tesla Wants Indian Government To Sharply Reduce Import Taxes On EVs

Tesla wrote off a letter to Indian minister requesting a big reduction in import duties on electric vehicles into the country, claimed reports citing sources with knowledge of the matter, which was followed by a tweet from Tesla’s Chief Executive Elon Musk stating that the company was likely to set...

Twitter Comfortably Beats Q2 Revenue Targets With New Ad Targeting Strategy

The ad targeting improvements for helping brands to reach potential customers rolled out during the second quarter helped the social media platform Twitter Inc to beat revenue estimates of the Wall Street for the quarter.    The results pushed Twitter’s shares up by 5 per cent. ...
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