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 […]

Apple Employees in Atlanta File to Conduct First U.S Union Election

On April 20th, employees at an Apple Inc. (AAPL) store in Atlanta filed a petition to hold a union election aiming to become Amazon’s first united State store to unionize especially at this time when there is a wave of labor activity at big companies. Citing a news release issued by the union and employees […]

Amazon Employees From a New Jersey Facility File for Union Election

Employees of Amazon Inc. (AMZN) working in a small facility in DNK5 depot in Bayonne, New Jersey, have are coming out expressing enough interest to hold a vote on unionizing. This development was reported by the United States National Labor Relations Board (NLRB). According to NLRB, a minimum of 60 to 200 from the small […]

Google to Invest $9.5 Billion in US Offices and Data Centers

Alphabet Inc. (GOOGL) the parent company of leading search engine Google has revealed that it will be investing $9.5 billion across its offices in the United States and data centers in 2022. This investment is higher compared to the $7 billion it invested last year. According to Google this investment will create a minimum of […]

Honda to Spend $64 Billion on Research and Development over the Next Decade

Japan based car manufacturer Honda Motor Co. (TYO: 7267) has revealed that it will be spending $64 billion for research and development activities over the next decade. The automaker made this announcement on April 12 further adding that it’s looking forward to unveiling 30 electric vehicle models by 2030. This target entails producing 2 million […]

Elon Musk Turns Down Offer to Join Twitter’s Board of Directors

Elon Musk, the biggest shareholders in social network and micrologging platform Twitter Inc. (TWRT) has turned down an offer to join the company’s board after the billionaire bought 9.2% shares making him the biggest shareholder in the company further giving him a direct ticket to the company’s board of directors. This turn of events was […]

Global Chip Shortage Will Last Until 2024 Says Volkswagen CFO

Arno Antlitz, the chief financial officer of German based car manufacturer Volkswagen AG (ETR: VOW3) has expressed fears that the global shortage of computer chip will last until 2024. Antlitz made this revelation during an interview with the German daily Boersen-Zeitung which took place during the past weekend. According to the CFO computer chip supply […]