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Luxury Car Maker Mercedes-Benz Speeds Up Its Push For Developing In-House Software

Mercedes-Benz announced the opening of a new 200 million euro ($217 million) software centre in Sindelfingen on Friday. This is the company's latest investment in its strategy of enhancing its in-house software skills and expertise which in turn is a part of its strategy of trying to bring its own...

IPO Valuation Target Of Walmart's Flipkart Raised To $60-70 Bln, Possible 2023 Listing

Flipkart, Walmart's Indian e-commerce subsidiary, has boosted its IPO valuation aim by approximately a third to $60-70 billion, and now plans to list in the United States in 2023 rather than this year, according to two sources with direct knowledge of the plan.   According to Reuters,...

Some Twitter Employees Fearful Of Arrival Of Elon Musk As Biggest Investor

According to Reuters, news of Tesla CEO Elon Musk gaining a board seat at Twitter has some Twitter employees concerned about the social media company's ability to police content.   Within hours of the stunning announcement this week that Musk, a self-described "free speech absolutist," had...

JetBlue Makes An Unsolicited Offer Of $3.6 Bln For Acquisition Of Spirit

JetBlue Airways has made an unsolicited $3.6 billion bid for Spirit Airlines, putting the ultra-low-cost carrier's merger plans with Frontier Group Holdings in jeopardy.   JetBlue CEO Robin Hayes said the transaction will give the New York-based airline a stronger rival to the so-called...

Chip Business Likely To Boost Samsung Electronics To Report Record Q1 Profits Since 2018

Samsung Electronics Co Ltd is projected to report its biggest first-quarter profit since 2018, according to analyst forecasts, propelled by strong memory chip profits as strong demand kept prices firmer than expected.   According to a Refinitiv SmartEstimate from 13 analysts, operating...

Record Deliveries Made By Tesla For Q1 Despite Drop In Output In China

US based electric car maker Tesla Inc reported record electric vehicle deliveries in the first quarter, generally surpassing analyst expectations, while production decreased from the previous quarter due to supply chain issues and the suspension of a China facility.   "This was an...

Big Win At Amazon Gives Unions Hope, But There's Still A Long Way To Go

Long-time labour supporters were shocked and excited by Amazon workers' decision to organise its New York warehouse, and a new reality is dawning: it can be done, though it won't be easy.   The news that the nation's second-largest private employer will be getting its first-ever union...

Slowdown In M&A Activities Likely To Cause Drop In Profits At Large Global Banks

For the first time in seven quarters, profits at the world's largest banks are likely to shrink, owing to a slowdown in mergers and acquisitions (M&A) activity and a drop in equity and debt issuance deals.   According to Refinitiv statistics, the combined net earnings of big global banks...

No Big Names In Soon To Be Launched Blue Origin's 4th Astro-Tourism Flight

Blue Origin, Jeff Bezos' space tourism enterprise that offers short suborbital thrill rides to well-heeled thrill-seekers and celebrity visitors, was set to launch its fourth commercial flight on Tuesday from the company's launch site in rural west Texas.   Blue Origin's New Shepard...

SpaceX's Flagship Crew Capsule Is No Longer Being Manufactured: Reuters

A business executive told Reuters that SpaceX has stopped producing new Crew Dragon astronaut capsules, according to a report published by the news agency Reuters quoting information from an executive of the company, because the focus of Elon Musk's space transportation company is now to develop...

Spotify Has Stopped Streaming In Russia Due To Safety Concerns

Spotify has announced its withdrawal from Russia, citing a new rule that threatens jail time for spreading "false news" against the country's armed forces.   The music streaming service said it had suspended its free service due to safety concerns for its employees and "perhaps even our...

Toshiba's Future Is Uncertain After Shareholders Rejected Two Competing Offers

Toshiba Corp shareholders rejected opposing proposals on Thursday, one proposed by management and the other backed by dissident shareholders, casting doubt on the company's future course.   Both management's intention to spin off Toshiba's devices segment and a second request for buyout...
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