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Sports Apparel Maker Nike Will Exit Russian Market Completely

Nike, the world's largest sportswear corporation, announced its entire pullout from Russia on Thursday, three months after stopping operations there.   Nike announced on March 3 that it will temporarily close all of its Nike-owned and -operated stores in Russia in response to Moscow's...

Sony And Honda Form A JV For Making And Selling Electric Cars By 2025

Sony and Honda Motor of Japan have officially agreed to form an evenly owned joint company that will begin selling electric vehicles in 2025.   Honda, like its larger rival Toyota Motor, has been slower to transition to electric vehicles (EV) than other global manufacturers and is under...

Case Filed By Tesla Investor Against Firm, Musk And Company Board Over Charges Of Workplace Discrimination

A Tesla Inc shareholder has filed a law suit the electric car company, Chief Executive Elon Musk, and its board, accusing them of failing to address workplace discrimination and harassment allegations and creating a "toxic working atmosphere."   The lawsuit filed on Thursday is the...

Tesla To Raise Car Prices In The United States Due To Inflation Hit

Tesla Inc has once again increased pricing for all of its car models in the United States again again in response to ongoing global supply-chain issues and rising raw material costs.   The electric carmaker raised the price of its Vehicle Y long-range model to $65,990 from $62,990 on...

Shareholder Takes Unilever To Court Over Boycott Of Israel By Ben & Jerry

On Wednesday, Unilever Plc was sued by a U.S. shareholder who said the corporation bungled its Ben & Jerry's unit's decision to stop selling ice cream in Israeli-occupied Palestinian territories.   According to the proposed class action in federal court in Manhattan, Unilever wrongfully...

Toyota Claims That Consumer Preference Determines The Rate Of Electrification

Toyota Motor Corp rebuffed critics who claimed it was reluctant to embrace battery electric cars (BEV), stating that it needed to offer a variety of car options to cater to diverse markets and customers.   At its annual general meeting on Wednesday, the world's largest automaker by sales...

H&M's Sales Are Up, But Investors Are Concerned About Profits

H&M, the world's second-largest fashion store, reported a 17 per cent increase in March-May sales, matching its main rival Inditex in citing a comeback in demand as pandemic restrictions relaxed.   However, sales were still lower than before the pandemic began. Investors are also...

After The Crackdown Subsides, Beijing Gives The Green Light To Restart The Ant IPO

China's top authority has tentatively approved billionaire Jack Ma's Ant Group's initial public offering (IPO), according to two sources with knowledge of the situation, in the clearest hint yet that Beijing is loosening its grip on the internet sector.   Ant, a subsidiary of Chinese...

Rebranded McDonald's Restaurants Reopen In Russia But Without The Big Mac

It may resemble and smell like McDonald's, but it is now Vkusno & tochka. The golden arches are vanished, and the Filet-O-Fish is now just a fish burger. The Big Mac is no longer available in Russia.   On Sunday, a new era for Russia's fast-food and economic scene began when McDonald's...

Coca-Cola And Brown-Forman Get Together To Create A New Drink

Coca-Cola and Jack Daniel's distiller Brown-Forman are collaborating to create a Jack-and-Coke cocktail in a can.   It is Coke's fourth new alcoholic drink in less than two years, but the first combination for its eponymous beverage. The Atlanta-based beverage company has also collaborated...

Uber Enables Critical Food Deliveries In Ukraine

Uber has created a "private-label" version of its delivery technology to assist the United Nations in delivering food and water supplies to Ukraine's war-torn territories. The technology firm is collaborating with the United Nations World Food Programme (WFP).   Large delivery trucks find it...

Buy Now Pay Later Announced By Apple As Part Of Its iOS 16 Plans

Apple is developing a buy now, pay later (BNPL) service as part of its upcoming iOS 16 operating system. Apple Pay Later will allow consumers in the United States to divide the cost of a purchase into four instalments over six weeks, with no interest or fees charged.   It is one of several...
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