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GM To Take $1Bln Hit With Expansion Of Chevy Bolt EV Recall Over Fire Risk

General Motors Co is expanding recall of its Chevrolet Bolt electric vehicles because of reports of risks of fires from the high-voltage battery pack and as a result will take a hit of $1 billion, the company said on Friday.   According to analysts, this will deal a blow to the efforts to...

Britain's Morrisons Agrees To $9.54 Bln Acquisition Offer From CD&R

British supermarket Morrisons has agreed to be taken over by the United States based private equity group Clayton, Dubilier & Rice and accept the offer for a deal worth 7.0 billion pounds ($9.54 billion). Morrisons dropped its previous recommendation in support of a lower acquisition bid from a...

AstraZeneca CEO Top Paid Executive Among FTSE 100 Firms In 2020, Says Report

The highest paid CEO of Britain in 2020 was the chief executive of Covid-19 vaccine maker AstraZeneca, Pascal Soriot, in a year when there was an almost one third decline in the pay of the average FTSE 100 leader, revealed a recent report.   The report from the High Pay Centre said that a...

Apple Urged By Policy Groups To Abandon Plans For Inspecting iMessages And Scan For Abuse Images

Apple should abandon its plans for scanning children’s messages while searching for nudity as well as scanning the phones of adults for pictures of child sex abuse, urged more than 90 policy and rights groups around the world in an open letter that was published by them jointly on Thursday.  ...

Better Than Expected Quarterly Results Prompts Carlsberg To Raise Annual Guidance

The Danish brewer Carlsberg reported better than expected sales revenue for the second quarter, prompting the company to raise its earnings guidance for the entire of 2021 while also warning that its sales in the rest of the year could get hot by the spread of fresh outbreaks of the Covid-19...

Covid-19 Vaccine Makers Set To Reap Billions From Booster Doses

Covid-19 booster shots could lead vaccine makers Drugmakers Pfizer Inc, BioNTech and Moderna Inc to generate billions of dollars while the market for the shots could last for years to come and could be bigger than the $6 billion in annual sales for flu vaccines, predicts analysts and healthcare...

Ford Appeals To US Patent Office To Annul GM’s Trademark Of The “Cruise” Word

Ford Motor Co sought to escalate its battle with General Motors Co which had sued Ford for allegedly using the term "Blue Cruise" for an automated driving system with Ford saying it will approach the United States Patent Office with a plea to annul the trademarks that have been granted to rival GM...

Lacklustre Public Debut For South Korea's Krafton Of PUBG Fame

The stock market debut of the maker of the blockbuster video game "PlayerUnknown's Battlegrounds" (PUBG) - Krafton Inc, which is supported by China’s Tencent Holdings, was not as good as expected as the stocks of the company declined by 20 per cent from their price offered at the initial public...

Delivery Hero Will Expand In Germany Following Return To Berlin

After quitting its home market of Germany three years ago, the delivery platform Delivery Hero has re-entered the market and is now set to expand its business there. On Tuesday, the company said that it would be rolling out its food and grocery delivery services in more German cities this autumn...

Saudi Aramco Triples Net Profits For Q2 Due To Higher Prices And Demand Rebound

An increase in global oil prices and global oil demand helped Saudi Arabian state oil producer Aramco to report four times growth in net profits for its second quarter comfortably beating estimate of analysts.   Its estimate beating results were driven by easing of Covid-19 restrictions...

New Hybrid-Focused Venture To Be Set Up Between France's Renault And China's Geely

A year after the French car maker Renault SA closed down its operations in the Chinese market, the company has now decided to try and revive its business there through a hybrid vehicle joint venture with Geely Holding Group, said the French auto giant.     A framework agreement to set...

Consumer Business Decline Results In Huawei Reporting Biggest Ever Revenue Drop

The sanctions imposed on the Chinese telecommunications giant Huawei Technologies by the United States forced the firm to sell a chunk of its once-dominant mobile handset business prior to the company being able to appropriately develop new growth areas which resulted in the company reporting its...
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