Economy

Google Paying More Than 300 European Union Publishers for News

Google’s parent company Alphabet Inc. (GOOGL) has inked a deal to pay over 300 publishers across Germany, France and four other European Union countries for their news. According to the deal goggle will roll out a tool to make it easier for other to sign up too. Three years ago, the EU adopted a game […]

Microsoft to Cover Travel Costs for Abortions for its U.S Employees

Technology company, software developer and manufacturer of consumer electronics Microsoft Corp. (MSFT) says that it will be extending its abortion and gender affirming care services for its United States workers by providing traveling expenses. “Microsoft will continue to continue to do everything we can under the law to protect our employees’ rights and support employees […]

Chipmaker Infineon Increases its 2022 Revenue Outlook

German based computer chip manufacturer Infineon Technologies AG (ETR: IFX) has raised its 2022 revenue outlook after posting a 22% revenue  increase in the second quarter which it attributed to the increased demand of chips courtesy of the coronavirus pandemic. The company raised its 2022 revenue guidance by 500 million euros ($525.20 million) to around […]

Biden’s Administration to Spend Over $3 billion on EV Battery Manufacturing

United States officials from the White House have revealed that the administration of President Joe Biden will be spending more than $3 billion on in infrastructure funding to finance electric vehicle (EV) battery manufacturing. The money will be allocated by the Department of Energy from the $1 trillion infrastructure bill which was signed by President […]

Megan Markle’s Animated Series ‘Pearl’ Dropped by Netflix

Subscription streaming service and production company Netflix Inc. (NFLX) has dropped Markle’s family animated series ‘Pearl’ after reviewing its animated content. In a press statement, the company said it dropped several projects including Pearl as part of its strategic decisions on production of animated series. Two animated children’s series ‘Dino Daycare’ and ‘Boons and Curses’ […]

Russia Sues Apple for Withdrawing its Payment Service in the Country

Manufacturer of consumer electronics, software and online services Apple Inc. (AAPL) has been sued by Russia for withdrawing its payment service in the country. Late last week, a Russian law firm confirmed having filed a lawsuit against the iPhone manufacturer seeking $1.28 million in damages for consumers affected by the withdrawal. The law firm, Chernyshov, […]

Mercedes-Benz Expects High Q2 Inventory Amid Global Chip Shortage

German based car manufacturer Mercedes-Benz Group AG (ETR: DDAIF) is expecting inventories to remain high in the second quarter even as supply chain glitches continue to affect production and deliveries. The global computer chip shortage is responsible for the production disruptions which has largely affected the auto industry. This was revealed by the company’s chief […]

Uber Sued by Australian Regulator for Misleading Fares

American ride hailing company Uber Technologies Inc. (UBER) has been sued by the Australian competition regulator Australian Competition and Consumer Commission (ACCC) for misleading consumers about ride fare estimates and cancellation fees. Uber admitted to the allegations and ACCC is seeking a A$26 million ($18.69 million) fine for the United States based company. On April […]

Russia Warns United States Against Sending More Weapons to Ukraine

Russia’s ambassador to Washington, Anatoly Antonov, has warned United States against sending more weapons. Antonov made the sentiments during an interview with Russia state television, Rossiya 24 , in which he said by the U.S supplying Ukraine with weapons will only escalate the war further. “We stressed the unacceptability of this situation when the United […]

Ola Electric to Recall 1,441 Electric Scooters Following a Fire Incidence

India based manufacturer of electric scooters Ola Electric has announced that it will be recalling 1,441 electric scooters after a one of its vehicles caught fire several weeks ago prompting a government investigation into the matter. “We will be conducting a detailed diagnostics and health check of the scooters in that specific batch and therefore […]