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Detroit Urban Development Plan To Be Replicated By JP Morgan In Poorer Areas Of Paris

The largest US bank by assets, JP Morgan Chase, will invest social work in France. The lender has announced that it will replicate an urban economic development strategy that it had initiated in Detroit, US, four years ago, would be replicated in the impoverished and underdeveloped areas around...

GM Records Q3 Profit Driven By New Costly Trucks

The costlier new full-size pickup trucks have driven General Motors Co. to report a profit of $2.5 billion in the third quarter which is a significant enhancement compared to the same quarter a year ago.   The Detroit automaker also reported a 25 per cent year-on-year increase in pre-tax...

600 Million Euro To Be Invested By Siemens In A Berlin Project

An industrial and technology hub in the German capital Berlin would be constructed by Siemens with an investment of invest up to 600 million euros ($681 million) as the company seeks to trace its way back to its founding roots.   That part of Berlin where the company, which was place where...

GE Reports Third Quarter Loss, To Split Its Power Business

As a part of the strategy to stage a turnaround under its new boss, General Electric dropped off most of its dividend for the third quarter as it also reported loss of $22.8 billion fir the quarter because of a major write down of assets.   In the same period a year ago, the company had made...

‘Safe’ And Fully Autonomous Vehicle Inext To Be Launched By BMW By 2021

The future for the portfolio of cars for BMW is expected to be different from what its current form as the company attempts to add more of plug-in hybrid electric vehicles and full-fledged all-electric cars in the near future.   However, the R&D efforts of the luxury car maker is not...

Net-A-Porter Will Be Available In China Through Alibaba And Richemont JV

A joint venture has been formed between Chinese e-commerce firm Alibaba and the owner of the powerful e-commerce platform Net-a-Porter, which is also the owner of Swiss luxury group – Richemont, to offer luxury products to Chinese consumers.   Net-a-Porter and Mr Porter would be the two...

Ford’s $11m Restructuring Drive Sees Appointment Of New China Chief

Ford has been suffering from a bad patch in terms of sale in the last year or so in the largest car market of the world – China. The company has also not been able to do well globally in recent years.   This is the reason that the company has embarked on a plan of a company-wide...

Microsoft Is Now The 2nd Most Valued US Firm, Overtaking Amazon

Microsoft Corp has again become the second most valuable company in the United States. This feat was however not accomplished by Microsoft itself through its value enhancement but because of the poor performance of Amazon.com – the company it replaced to regain the second spot. Almost $65 billion...

Apple And Samsung Charged Of Intentionally Slowing Phones, Fined In Italy

Apple and Samsung are to be fines €10m and €5m respectively by authorities in Italy on charges of “planned obsolescence” of their smartphones.   Following an investigation by the country’s competition authority, which was initiated in January this year, it was concluded that there was a...

Data Breach Of 9.4 M Passengers Of Cathay Pacific

A data breach of the customers of the Hong Kong-based airline Cathay Pacific has come to light. According to revelations by the airlines, personal data of up to 9.4 million passengers have been hacked. However the airline so far could not confirm any evidence of stealing of any personal information...

'Historic' Quarterly Profit For Tesla, Looks To Enter Europe And China

Tesla is now looking beyond the US market for sale of its electric cars after the company made a surprise and historic profit for the third quarter of the current year driven by increased demand for its least costly Model 3.   According to the statement from Tesla chief Elon Musk, the...

Dyson’s New Electric Car Would Be Manufactured In Singapore

While it is best known in the United Kingdom as a global manufacturer of vacuum cleaners, Dyson is moving into the field of electric cars and this UK firm has chosen Singapore to be its hub for the manufacture of its new electric car.   It will be later this year that the foundation for the...
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