Its tentative schedule of production is mid-2019. Tesla’s CEO, Elon Musk stated it will soon build a pickup truck after producing the Model Y, an electric crossover vehicle. “I promise that we will make a pickup truck right after Model… Read More ›
Regulations & Legal
Focus on profits and market share led to data falsification scandal: Mitsubishi Materials Corp
Here are the findings of the committee constituted by Mitsubishi Materials Corp on the data fabrication scandal. On Thursday, Japan’s Mitsubishi Materials Corp stated the push for market share had driven its subsidiary to fabricate fake product specification which led… Read More ›
A Reconnaissance Satellite Capable To Transmit Data Back To Earth Potentially Developed By North Korea: Media Reports
North Korea has reportedly been able to develop and a new and sophisticated reconnaissance satellite and might even have the technology to move it on to mobile launcher, according to most recent media reports. An unnamed government source was quoted… Read More ›
Investors trumped from lack of windfall gains from new contracts for private prisons
While investors had hoped that Trump’s tough talk on illegal immigrants will result in CoreCivic Inc and Geo Group Inc winning government contracts for building prisons, but with fewer illegal immigrants taking the risk to cross over from Mexico to… Read More ›
Barclays to write-down $1.34 billion as a result of the overhaul of the U.S. tax code
Significantly, its Tier 1 capital ratio is also impacted by the overhaul. British lending giant Barclays disclosed that it expects to write-down nearly $1.34 billion (1 billion pounds) from its annual post-tax profit as a result of the U.S. tax… Read More ›
Apple facing 8 lawsuits for wanton slowing down of iPhones
The lawsuits, affecting the iPhone 6, iPhone 6s, iPhone SE and iPhone 7, seek unspecified damages, and in some cases reimbursement and even barring Apple to throttle the performance of its iPhones. Following Apple’s admission of slowing down ageing iPhones,… Read More ›
Volkswagen upbeat on its fourth quarter results
Matthias Mueller, the CEO of the VW group stated he expects the group’s operational profit for the fourth quarter to be outstanding. Despite overwhelming odds, Europe’s largest carmaker Volkswagen is slated to report excellent results, much of which can be… Read More ›
Drugmaker Amgen Inc to pay $6 billion to $6.5 billion in taxes over a span of time
Amgen stated the U.S. repatriation tax will impact its current generally accepted accounting principles (GAAP) earnings forecast, but will not have any affect on its non-GAAP forecast. With U.S. President Donald Trump signing the new tax bill into law on… Read More ›
Credit Suisse to write-down $2.3 billion due to changes in U.S. tax law
The Swiss banking giant stated it will provide a more detailed report on the impact of the U.S tax bill on its operations in its fourth quarter report, scheduled to be published on Feb. 14. Swiss banking giant Credit Suisse… Read More ›
T-Mobile Austria to buy Liberty Global Plc’s UPC Austria unit for $2.25 billion
The deal will enable T-Mobile Austria to better compete with bigger rivals such as A1. Liberty Global Plc stated it would divest its UPC Austria business to T-Mobile Austria, an unit of Deutsche Telekom, for a value of $2.25 billion… Read More ›
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