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New Auto Battery Plant In Shanghai To Be Built By Tesla Supplier CATL: Reuters

China's CATL is continuing to expand at a frantic pace and is now planning to set up a major new automotive battery plant in Shanghai, in China, said a report published by the news agency Reuters. The completion of the factory will make the company the leading supplier of auto batteries in the...

A Direct Stake In Potential Porsche IPO Being Considered By Porsche, Piech Families: Reports

If the luxury carmaker Porsche AG comes to decide to separately listed on a stock exchange, a direct stake in the luxury car maker could be taken by the Porsche and Piech families, who control Volkswagen's largest shareholder said reports quoting sources with knowledge of the matter.   If...

Online Second-Hand Fashion Seller Sellpy, Majorly Backed By H&M, Expands Into 20 European Countries

Placing its bet on the continuation in the growth in demand for sustainable fashion, the Swedish online second hand retailer Sellpy is expanding into 20 more countries in Europe.  A majority stake in the company is owned by the fashion giant H&M.   This was announced by Sellpy on...

Charges Of Labour Abuse Faced In Malaysia By American Tyre Maker Goodyear

Allegations of unpaid wages, unlawful overtime and threatening of foreign workers at its Malaysian factory are being faced by the American tire manufacturer Goodyear Tire & Rubber Co, showed court documents and complaints filed by workers according to a report published by the news agency...

$12.8 Billion Was Refunded To Travellers In 2020 By US Airlines, Says Industry Group

The head of airline industry trade group of the United States Airlines for America (A4A) said in a letter to lawmakers that during 2020, a total of $12.84 billion in cash refunds was given by 11 airlines of the country to customers because of the Covid-19 pandemic that had virtually stopped air...

Strong Investor Support To Call On Amazon For Racial Equity Audit

The top pension official of the New York state said on Friday that the largest e-retailer of the world Amazon.com Inc needs to conduct a review about the manner in which is addressing racial justice and equity. This comment came following a strong backing won by a shareholder proposal on the topic....

India’s Mahindra expects car sales to take two years to rebound after COVID shock

It will take at least two more years before car sales can inch back to their pre-pandemic peaks, said India’s Mahindra & Mahindra expects, even though the company’s chief said that the recovery prospects could be hurt by a slow pace of vaccinations.   The number of passenger vehicle...

Its Combustion Engine Line-Up Will Be Cut Down By Hyundai And Focus On EVs

The number of combustion engine models in its portfolio will be slashed by the South Korean car maker Hyundai Motor Group in order to free up resources which can be used for making electric vehicles (EVs), said recent reports quoting source information.   The company plans to reduce the...

Nissan Will Build Battery Plants For Electric Vehicle In Japan And Britain

More than 200 billion yen ($1.8 billion) will be jointly invested by the Japanese car maker Nissan Motor and a Chinese-owned battery maker for building new battery plants for electric vehicles in Japan as well as in eth United Kingdom, said a report published by Nikkei.   According to the...

Momentum In Apparel Sale Prompted Gap To Raise 2021 Forecasts

The San Francisco-based retailer Gap Inc now expects to see a continued increase in demand for new apparel with more people stepping out of their homes and socializing once again following a year when most were forced to stay back home because of the Covid-19 pandemic. This prompted the retailer to...

Wall Street Journal Claims Google Close To A Settlement In French Antitrust Case

According to a report published in the Wall Street Journal reported on Thursday citing source information, Alphabet Inc's Google is close to settling an antitrust investigation in France which was initiated against it over allegations that the United States based tech giant had misused its market...

Uber Agrees To Have A Driver’s Union In UK – A First For The Global Firm

The ride hailing company Uber has agreed to allow a workers’ union at the company in the United Kingdom which is the first for the Silicon Valley company anywhere in its global operations.   The GMB union, the largest in the UK, will now be allowed to represent tens of thousands of Uber...
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