In a statement, the local county manager of U.S. electric carmaker Tesla Inc stated, the on-site staff at its Nevada battery plant will be slashed by 75% because of the Wuhan coronavirus. The development comes in the wake of Panasonic… Read More ›
operations
JPMorgan Chase & Co names Filippo Gori as its new Asia Pacific CEO
On Thursday, JPMorgan Chase & Co named veteran Filippo Gori as its new Asia Pacific CEO; he will oversee strategy and operations across seventeen markets in the region. Gori, who has stuck with the bank for the last twenty years,… Read More ›
China’s Great Wall Motor to purchase General Motors’ Thailand car plant
On Monday, China’s Great Wall Motor stated it had signed a binding agreement to purchase General Motors’ car plant in Thailand. General Motors is retreating from markets outside of the United States and China and is winding down designs, sales… Read More ›
Toyota & Panasonic teams up to produce prismatic electric vehicle batteries
On Monday, in a joint statement, Toyota Motor Corp and Panasonic Corp stated, they have agreed to set up a joint venture which will specialize in producing prismatic electric vehicle batteries. Prismatic electric vehicle batteries developed by the joint venture… Read More ›
Chinese tech companies continue to hum despite coronavirus pandemic
On Monday, Huawei Technologies Co Ltd stated, production at its consumer devices and carrier equipment divisions have resumed and are working normally. Huawei is among other Chinese tech companies who are continuing to keep their factories running despite the Chinese… Read More ›
Chevron to writedown value of assets by $10-$11 billion during fourth quarter
In a significant development, Chevron Corp stated, it will be writing down the value of its assets by $10 billion to $11 billion this quarter; the U.S. oil major is also considering selling some of its natural gas projects as… Read More ›
Apple to expand operations in India: Indian Information Technology minister
In a statement, India’s information technology minister Ravi Shankar Prasad disclosed, Apple Inc will be expanding its operations in the country. Salcomp, one of Apple’s suppliers, plans on opening a plant near Chennai in southern India. Salcomp, which makes components… Read More ›
Amazon pumps in more than $600 million into its Indian subsidiaries
Amazon has not clarified how and where it will utilize the money. Documents filed with the Registrar of Companies show that U.S. retailer, Amazon.com Inc has invested $634.20 million (around 45 billion rupees) into its Indian subsidiaries. Clearly, Amazon is… Read More ›
U.S. federal court sides with American Airlines Group over disruptions by mechanics union
The airline had accused the mechanics union of illegal slowdowns saying these these had materially affected its operations during the peak summer travel season. In a development that significant aides the American Airlines Group Inc, a U.S. federal court has… Read More ›
U.S. regulators increases oversight on resolution plans for foreign banks
Resolution plans, also known as living wills, require large banks to detail how they could be unwound in cases of bankruptcy with minimal disruption to the financial system. In a significant development, U.S. bank regulators stated they have not found… Read More ›
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