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VW’s Debut Electric Car Series Sees Sluggish Sale In The First Two Months

There has been a worryingly slow start in China for Volkswagen AG's ID series which is at the core of the electric vehicle ambitions of eh German company.   Launched almost two months ago, the sales of two ID.4 electric SUV models for the month of May was only at two 1,213 combined and...

Nokia Employees Will Be Allowed To Work From Home For Three Days A Week

Following the end of its current work from home policy in December this year, the Finnish telecommunication giant Nokia would allow its employees to choose to work from home or remotely to up to three days a week as the company steps up increased support for flexible working hours starting January...

BP Will Continue To Produce Oil And Gas For Decades, Says CEO Looney

Even though BP is reducing its output for fossil fuels as a part of its strategy to shift to low-carbon energy, the Chief Executive of the company Bernard Looney still believes that the oil and gas major will continue to produce hydrocarbons for decades to come and will also benefit from increase...

EU Loses Case Filed To Force AstraZeneca To Supply 120m Vaccines By June End

The legal effort of the European Union in Brussels to force the Anglo-Swedish drug maker AstraZeneca to supply the bloc with 120m doses of Covid-19 vaccines by the end of June has been lost by the bloc.   Following the delay by the company to ship the vital vaccines after the company had...

AI Based Tools Being Tested By Facebook To Stop Fighting In Its Groups

Social media platform Facebook plans to use artificial intelligence to help control conversations on its platforms form going out of control. The company is currently trying out the use of AI for spotting online fights in its many groups which will allow the group administrators to get things to...

GM To Enhance Expenditure On Electric And Autonomous Vehicles By 30%

United States based auto major General Motors Co plans to increase its spending globally on electric and autonomous vehicles through 2025. The company will spend 30 per cent more on these compared to what it had forecast most recently which will be about $35 billion, said reports quoting sources...

With Easing Pandemic Restrictions, H&M Reports Surge In Sale

With restrictions imposed because of the Covid-19 pandemic being eased in many markets and with continued strength in online demand for its products, the fashion brand H&M reported a jump in sales in the period between March to May compared to a year earlier even though the revenue of the...

South Korea’s Hyundai Talking Local Chipmakers To Reduce Foreign Dependence

Within a global shortage of chips, the South Korean auto giant Hyundai Motor Group is talking with domestic chip companies for reducing its reliance on foreign supplies of chips, said reports quoting sources with knowledge of the matter. The chip shortage globally has forced many auto makers to...

Blackstone Set To Make A $3.05 Bln Bud To Acquire Chinese Office Developer Soho China

The United States based private equity firm Blackstone Group Inc. is close to striking an agreement for the acquisition of the office developer Soho China Ltd., said reports quoting sources familiar with the matter, in what would make the deal, if successful, the biggest real estate investment by...

China Gives License To BlackRock To Start Mutual Fund Business There

Chinese authorities have granted permission to start its business in the country as Beijing starts to open up its $3.5 trillion industry. That makes BlackRock the first global asset management company to start business in China as a wholly-owned onshore mutual fund company.   Approval to...

Tesla’s Faster Model S 'Plaid' Launched, Musk Says 'This Car Crushes'

"This car crushes," said Elon Musk, CEO of the United States based electric car maker Tesla Inc as it launched a version of its Model S at an event organized at Tesla's US factory in Fremont, California.   Through this launch, the company aims to tackle competition from rivals such as...

Tesla Launches High-Performance Model S ‘Plaid’ To Rival Luxury Brands Like Mercedes, Porsche

United States based electric car maker Tesla Inc launched a version of its Model S, which will be a high performance vehicle, as the company aims to tackle competition from rivals such as Porsche, Mercedes-Benz and Lucid Motors in the luxury electric vehicle market and to potentially reignite...
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