On Tuesday, Foxconn, the world’s largest contract chipmaker, said it expects the second half of this year to be “in a better direction” since COVD-19 lockdown appears to be easing in Shanghai. “We are quite confident in the stability of… Read More ›
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Delaware court rules in Elon Musk’s favor in Tesla SolarCity deal
In a significant development, a Delaware judge ruled that Tesla Inc’s Chief Executive Officer, CEO, Elon Musk did not unjustly enrich himself when he guided the electric vehicle maker to acquire SolarCity Corp in 2016, when Musk was its chairman… Read More ›
US biggest pension fund plans to replace Warren Buffett at Berkshire Hathaway
In a significant development, CalPERS, the biggest U.S. public pension fund, said it will vote for a shareholder proposal to replace Warren Buffett as Berkshire Hathaway Inc’s chairman; he will however continue to remain as its CEO. In a regulatory… Read More ›
Galapagos NV names Paul Stoffels as CEO
Belgian drugmaker Galapagos NV has named former Johnson & Johnson senior executive Paul Stoffels as its CEO, effective from April 1, 2022. Since 2012, Stoffels was the chief scientific officer at Johnson & Johnson and has spearheaded the development of its single-shot… Read More ›
Antonio Horta-Osorio, Credit Suisse’s chairman resigns
In a statement Credit Suisse said, its chairman Antonio Horta-Osorio has resigned after flouting COVID-19 quarantine rules. The development raises questions over the bank’s new lending strategy as it tries to recover from a string of scandals. Incidentally, Horta-Osorio became the… Read More ›
World’s top 20 best performing hedge funds earned $65.4 billion for clients in 2021
According to LCH investment data, the world’s 20 best performing hedge funds earned $65.4 billion for clients in 2021, on the back of stock markets rising despite setbacks introduced by coronavirus pandemic. As a group, the most successful managers earned… Read More ›
Benefits of digital pound can be achieved by alternative means with fewer risks: Economic Affairs Committee Chair Michael Forsyth.
On Thursday British lawmakers warned, a digital pound which will be used by consumers is likely to affect the country’s financial stability, erode privacy and raise the cost of credit. The digital pound would need greater appraisal before its widespread… Read More ›
Sony examines options to expand into electric vehicles
This Spring, Sony is set to examine its options vis-à-vis the electric vehicle market as it looks to capitalize on its sensor and entertainment strengths to play a bigger role in next-generation mobility. Speaking ahead of the CES technology trade… Read More ›
Israeli foodtech SavorEat launches personalized 3D printed plant based burger system
In a statement Israeli foodtech firm SavorEat said, it has launched a plant-based burger system that is customized to each customer. The company uses 3D printing technology to cook food. Vegan burgers from companies including Beyond Meat and Impossible Foods are… Read More ›
Mitsubishi Corp names Katsuya Nakanishi as CEO
On Friday, in a statement Japan’s Mitsubishi Corp said, Katsuya Nakanishi, its executive vice president who is also the chief of its power business will now head the company as of April 1, 2022. Mitsubishi’s current president Takehiko Kakiuchi will become… Read More ›
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