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Credit Suisse’s Q1 Trading Gains Wiped Off By Archegos, Reports 252Mn Sfr Loss

A multi-billion dollar hit from the collapse of the United States based investment fund Archegos negated the profits made by Credit Suisse from its trading business during the first quarter as the bank reported a 757 million Swiss franc pre-tax loss for the period which was slightly smaller than...

Tesla Issues Rare Apology After Chinese Social Media Pressure Over A Customer Complaint

The United States based electric car maker Tesla is facing a social media storm in China as regulators and the state media also joining in the fray after an unhappy Tesla customer clambered showed her protest over the company's handling of her complaints by climbing atop a Tesla car at the auto...

Renesas To Restore Full Production Capacity Of Fire-Damaged Chip Factory By End Of May

Even after restarting of production at its fire ravaged unit on Sunday, the Japanese firm Renesas Electronics Corp, which is also a major supplier of automotive semiconductors for the global auto industry, said that it is trying to recoup all lost production capability at the factory that was...

New Filter Feature To Tackle Hate Speech To Be Launched By Instagram

The Facebook owned social media platform Instagram will be using a filtering mechanism on the platform that will filter offensive words, phrases and emojis on the photo-sharing app so as to prevent its users from viewing possibly abusive messages.   The new filter option for abusive direct...

‘Intense Competition’ Expected By Daimler CEO If Tech Giants Enter Electric Vehicle Market

If tech giants such as Google, Apple and Alibaba decide to launch their own electric vehicles, the German auto maker Daimler will face stiff opposition from these new entrants, believes Daimler’s chief executive.   With the race for electric vehicles heats up globally, there have been...

Nissan’s China Strategy To Focus On Fuel-Sipping Tech And Electric Cars

The Japanese auto company that is under financial strain, Nissan Motor Co, will be showcasing a new "must-succeed" car while also detailing its strategy for electric cars in the Chinese market at the Shanghai auto show slated to begin on Monday, said reports quoting company officials.   The...

Daimler’s Q1 Profit Grows With Increased Mercedes Sales In China

The German luxury auto maker Daimler reported better than expected profits for the first quarter because of increase in demand for luxury Mercedes-Benz form Chinese consumers as well as higher prices for the cars which helped the company to offset the lump because of the Covid-19 pandemic.  ...

Their Second US Battery Plant In Tennessee To Be Built By GM And LG Energy Solution

A second battery cell manufacturing plant in the United States will be jointly built by General Motors Co and South Korean joint-venture partner LG Energy Solution, the companies said on Friday as the two companies unveiled their plans of building the plant with an investment of $2.3 billion in...

Domestic Air Travel Capacity In Australia To Soon Surpass Pre-Pandemic Levels: Qantas

While raising its forecast for the current quarter on the back of strong demand in Australia which is almost free of Covid-19, Qantas Airways Ltd expects domestic travel in the country to surpass the pre-pandemic levels next financial year, the company said.   The Chief Executive of the...

Market Debut Gives Crypto Currency Exchange Coinbase A Value Of $86 Billion

The public listing debut of the United States based cryptocurrency exchange Coinbase Global Inc at the NASDAQ valued the company at $86 billion on Wednesday in a day when its valuation reached as high as $112 billion.   The share market debut of Coinbase, which listed itself via a direct...

Public Listing Of Coinbase To Accelerate Mainstream Acceptance Of Cryptocurrencies

The public listing of the biggest cryptocurrency exchange of the United States - Coinbase Global Inc, marks an important milestone for transformation of cryptocurrencies from being a niche technology to one that is a part of the mainstream financial system.   This public listing is the...

Acquisition Bid From CVC For Toshiba Results Its CEO Resignation

The controversy of a $20 billion buyout bid placed for Toshiba Corp by the privately owned investment company CVC Capital Partners resulted in the resignation of the CEO of the company Nobuaki Kurumatani.   With emergence of more news that there were more bidders for the conglomerate that...
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