Economy

German Finance Minister Pledges Tax Relief of $34.1 Billion From 2023

The German Finance minister, Christian Lindner, says the newly formed German government will be offering tax reliefs to individuals and companies worth 30 billion euros ($34.1 billion) in this legislative period. “We will relieve people and small and medium-sized businesses by significantly more than 30 billion euros,” said the Finance Minister. Lindner makes it clear […]

Omicron Likely to Peak by End January in the U.S Says Dr. Fauci

The chief medical advisor to the President of United States Dr. Anthony Fauci says that it is highly likely that the increase of the COVID-19 Omicron variant across the United States might peak by the end of January. The Omicron variant as indeed taken the world by storm due to its unique property of spreading […]

DiDi Bans its Employees From Selling Their Stakes in the Company

China based ride hailing company DiDi Global Inc. (NYSE: DIDI) has banned its current and former employees from selling shares of the company indefinitely. The Financial Times was the first to publish the development on its platform on December 28. According to the Financial Times, the 180 day lock-up period after the company’s initial public […]

Chinese Regulators Suspends Cyber Security Deal Between Alibaba and Alibaba Cloud

Chinese regulators have suspended a cyber-security deal between leading Chinese e-commerce company Alibaba Group Holding Ltd (HKG: 9988) and its subsidiary Alibaba Cloud Computing. Going with the media reports, the regulators are accusing Alibaba of failing to promptly report and address cyber-security vulnerabilities. According to a recent notice by China’s Ministry of Industry and Information […]

Musk Paying More Taxes Than Any Other American in History This Year

American billionaire Elon Musk will be paying more taxes than any other American in history this year. The founder and chief executive officer of leading electric car maker Tesla Inc. (TSLA) made this revelation following an altercation on Twitter with Democratic U.S. Senator Elizabeth Warren. Back last week, after Time Magazine announced Musk as the […]

CNN Closing its U.S Offices Citing Increasing COVID-19 New Infections

American world leading media company Cable News Network (CNN) will be closing its United States offices to most of its employees following increasing cases of COVID-19 new infections. The company made this announcement through an internal memo it sent during the past weekend further stating that non-essential employees will be the most affected by the […]

Paris Ride-Hailing Firm Suspends Use of Tesla Cars Following Fatal Accident

A Paris based ride-hailing company G7 has suspended use of Tesla Inc.’s (TSLA) Model 3 vehicles in its fleet following a fatal accident which involved one of Tesla’s vehicle during the past weekend. The company’s deputy chief executive, Yann Ricordel, said an off-duty taxi driver was taking his family to a restaurant when the accident […]

South Korea to Use Facial Recognition to Track COVID-19 Cases

South Korea is set to start using artificial-intelligence powered facial recognition system and thousands of CCTV cameras to track the movements of people infected with the coronavirus in the country. This system uses an artificial intelligence algorithms and facial recognition to analyze footages from captured by over 10,820 CCTV cameras and track the movements of […]

Elon Musk Contemplating Resigning From His Jobs

Billionaire and chief executive officer of Tesla Inc. (TSLA), Elon Musk, is contemplating leaving his jobs and switching over to an influencer. Musk made this revelation through twitter where he’s normally very active and uses the platform to make major announcements. “Thinking of quitting my jobs & becoming an influencer full-time wdyt,” tweeted Musk. It’s […]

Toyota Suspends Production at 2 Plants in Japan Citing Chip Shortage

Leading Japanese automotive manufacturer Toyota Motor Corp. (TYO: 7203) has suspended production activities at two of its factories in Japan following the continued global chip shortage. This development was announced by the company’s spokesperson on December 9. This news means that the company won’t be able to bounce back to normal operations as it had […]