On Tuesday, Weston Energy, a gas seller which supplied 7% of the eastern Australian market, has collapsed following soaring LNG prices, marking the first significant casualty in the country from the global gas crisis following Western sanctions on Russia after… Read More ›
Executives of Citigroup Inc have warned, the bank faces billions of dollars in losses from its Russian business even as it continues to help some of its 200 staff in Ukraine to leave the country. Towards the end of last year,… Read More ›
The number of Western companies looking to exit from Russia is growing with energy giants BP, Shell, HSBC and the world’s biggest aircraft leasing firm AerCap joining the list. Following Russia’s invasion of Ukraine, Western countries have slapped punitive economic… Read More ›
Singapore’s Temasek Holdings has agreed to acquire Element Materials Technology for around $7 billion, in an attempt to boost growth in the testing and inspection services market, said two sources familiar with the matter at hand. State investor Temasek, which acquired… Read More ›
On Friday, Canon Inc said, it was weighing options to close down its factory in Zhuhai, southern China, which mainly makes compact digital cameras midst a shrinking market for such devices. Canon’s spokesperson declined to provide details of employee strength at… Read More ›
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 ›
On Tuesday, Samsung Electronics unveiled its latest line of chips aimed at the auto market. Samsung’s advanced chips will be mounted in Volkswagen’s infotainment system developed by LG Electronics. There is a rising demand for “high-tech” automotive chips that can handle more… Read More ›
In a statement, Bristol-Myers Squibb Co and Eisai Co said, they had entered into an agreement to jointly develop and market an experimental cancer drug worth up to $3.10 billion. Bristol-Myers would pay $650 million, including for research and development… Read More ›
On Tuesday, a solar industry body said, solar installations in the United States are likely to quadruple by 2030 thanks to booming demand for carbon-free power and an extension of a key industry subsidy late last year. The sector is… Read More ›
In a statement to Automobilwoche weekly, Volkswagen unit Porsche said, it is participating in Rimac Automobili’s funding round which will see the electric supercar maker raise $157 million-$181 million (130 million-150 million euros). “The fundraising should be completed in two… Read More ›
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