Author Archives
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Tesla Semi electric commercial truck to go into mass production in 2022: Musk
In a tweet Tesla Inc’s CEO Elon Musk said supply constraints related to battery cells are making it harder for the company to scale up production of its long-delayed Tesla Semi electric commercial truck. “Demand is no problem, but near-term… Read More ›
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Amsterdam-based Otrium raises $120M in series c funding round, ahead of US launch
On Wednesday, online fashion brands outlet store Otrium said it had raised $120 million from investors. The development comes ahead of its U.S. launch. Amsterdam-based Otrium said in 2020 its revenues had tripled and that its registered members topped 3… Read More ›
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Hitachi Ltd acquires U.S. software company GlobalLogic inc for $9.6 billion
On Wednesday, in a statement Hitachi Ltd said it will acquire GlobalLogic Inc, a U.S. software company, for $9.6 billion. The development sees the Japanese industrial conglomerate which has business interests ranging from digital services to electronics hardware, expand its… Read More ›
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Britain’s Financial Conduct Authority begins consultations on changes to SPAC listing rules
In a significant development on Wednesday, Britain’s financial regulator said, it will consult on changes on listing rules for Special Purpose Acquisition Companies (SPACs). Britain’s Financial Conduct Authority said, it will consider introducing a minimum market capitalization and a redemption… Read More ›
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2021 revenues and pre-tax profits off to a good start: Daimler AG
On Wednesday, German carmaker Daimler AG said, its revenues in 2021 have got off to a good start. This is despite a global shortage of semiconductors plaguing the automobile industry. Daimler now plans on speeding up the shift towards electric… Read More ›
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Payment processing companies including Mastercard ran cartel operation on vulnerable members of society
On Wednesday, in a statement Britain’s Payment Systems Regulator said, Mastercard is among five companies which broke the law for cartel behavior; the regulator has alleged that these five companies including, Mastercard, allpay, APS, PFS and Sulion offered pre-paid cards… Read More ›
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ESMA imposes $4.35 million fine on Moody’s for failure to disclose conflicts of interests
On Tuesday, the European Union’s markets watchdog, the European Securities and Markets Authority (ESMA) said, it has fined Moody’s $4.35 million (3.7 million euros) for breaching rules which includes failure to disclose conflicts of interests. “All of the breaches resulted… Read More ›
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Japan asks chip equipment makers to help restore Renesas’ production facilities
Following a chip plant owned by Renesas Electronic Corp catching fire earlier this month, Japan asked a few Taiwanese manufacturers to cooperate in alternative production of semiconductors, said industry minister Hiroshi Kajiyama. “We are in communication with several manufacturing equipment… Read More ›
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SK Innovation weighing options to withdraw from battery business in US
On Tuesday, in a statement South Korea’s SK Innovation Co Ltd said it is considering all options which includes pulling out of its battery business in the United States if U.S. President Joe Biden does not overturn a trade panel’s… Read More ›
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Hyundai Motor Co suspends production due to parts shortage
On Tuesday, in a statement South Korea’s Hyundai Motor Co said, production at its Ulsan number one plant in South Korea would be suspended from April 7 to 14 due to supply issues with electrical components and a shortage of… Read More ›
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