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Volkswagen To Invest 2 Billion Euros In Chinese Electric Vehicle Industry To Increase Presence

Germany’s premier and world largest auto maker Volkswagen AG is set to make an investment of 2.1 billion euros in two Chinese electric vehicle players as the company attempt to boost up its presence in the electric car market of China – the largest in the world.   This move by Volkswagen...

$500 Million Fundraising Success For Didi's Self-Driving Unit Led By SoftBank

A fundraising round of over $500 million has just been successfully completed by China's ride hailing company Didi Chuxing. This round was led by SoftBank Group's Vision Fund 2 and is aimed for funding the autonomous driving subsidiary of Didi, the Chinese firm said on Friday.    This...

Novavax To Acquire Indian Vaccine Plant To Produce 1 Billion COVID-19 Vaccine Doses

With the aim of manufacturing up to 1 billion doses of its Covid-19 vaccine candidate next year, the United States based Novavax Inc is set to purchasing a manufacturing plant from privately held Serum Institute of India which is the largest maker of vaccines by volume in the world.   Czech...

Google’s Payments App Faced Antitrust Case In India: Reuters

Allegations that the tech giant Alphabet Inc’s Google is abusing its market position are being looked into by India’s antitrust body. It has been alleged that Google has been unfairly promoting its mobile payments app in the country, claimed a report by Reuters citing sources with knowledge of the...

Facebook Settles Privacy Charges In Canada With A Paltry Pay $9 Million Fine

In a settlement with the Competition Bureau of Canada, the United States based social media giant Facebook Inc. will pay $9.5 million. But eh tech giant will not admit to any wrongdoing to the charges and allegations of breach of privacy claims the company made in connection to the Cambridge...

Renault And Nissan Expected To Scale Down Lofty Global Targets In A New Strategy

The last time that Renault SA, Nissan Motor Co and Mitsubishi Motors Corp had announced their combined strategy plan, for their Alliance in September 2017, the auto makers had set their targets at becoming the global leader in the industry by 2022.   This time however when the companies...

US Adds Dozens More Chinese Companies To Its Blacklist

33 more Chinese companies and entities will be added by the United States to the so called blacklist of the Department of Commerce over allegations that those firms and institutions were engaged in aiding the Chinese government to spy on the Uighur population of China or were involved in any way to...

Renault Could Disappear, Warns French Minister

The French auto giant Renault could disappear if it didn’t get help soon, warned a French minister on Friday. On the very same day, a Japanese news report claimed that Japanese car making giant Nissan was planning to cut about 20,000 jobs – many of which will be in Europe. This was a twin blow for...

Google Will Not Make A.I. Tools For Oil And Gas Sector Firms Anymore

Google will no longer building customized artificial intelligence (AI) tools specifically for the oil and gas sector companies that can help them to produce fossil fuels all over the world, the tech giant has pledged.   This announcement was made by the company after a report was published...

Nissan Plans 20,000 Job Cuts, Primarily In Its European Business And Developing Countries: Kyodo

A plunge in its demand for its cars even before the novel coronavirus pandemic hot the world economy is forcing Japanese legendary auto maker Nissan Motor Co to consider reducing about 20,000 from its global workforce according to a report published by Kyodo news on Friday, these efforts would be...

J&J Says Will Stop Selling Its Talc-Based Baby Powder In US And Canada

Following orders from courts in the United States to pay up billions of dollars in lost legal battles over charges that the talcum-based baby powder contains ingredients that cause cancer, Johnson & Johnson said that it will stop selling the baby powder in the US and Canada.   This was...

HSBC Targets Growth In Double-Digit For Its Wealth Asset Growth In Asia By 2023

The newly combined wealth business in Asia Pacific of HSBC Holdings PLC is expected to achieve double-digit asset growth over the next three years, the company said. In an interview to the media, the unit’s regional head said that the company aims to increase its market share in this business...
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