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ABB Secures Orders Worth $80 Million for Spanish Commuter Train Tech

Sweden based company engaging in robotics, power, heavy electrical equipment and automation technologies ABB Ltd. (SWX: ABBN) has secured orders worth $80 million from manufacturer of railway rolling stock Stadler Rail (SWX: SRAIL) for traction and battery technologies for commuter trains in Spain. Stadler focuses on regional multiple units and trams. The company has its […]

Ford to Suspend Production in 8 Factories due to Chip Shortage

U.S based automotive manufacturer Ford Motor Co. (F) is set to suspend or cut production activities in eight of its factories across the U.S, Mexico and Canada this week citing the global chip shortage which has largely affected the industry. This development was announced by the company’s spokeswoman late last week. A few days ago, […]

Information and Technology Firm Atos Says its Cybersecurity Unit is not Up For Sale

France based information technology service and consulting company Atos SE (EPA: ATO) says that its cybersecurity unit BDS division is not up for sale. This comes after rumors started making round suggesting defense company Thales is working on buying the cybersecurity unit. Thales is a French firm which designs and makes electric systems and provides […]

Amazon to Create 1,500 Apprenticeships Positions in the UK This Year

Leading online retailer Amazon Inc. (AMZN) will be creating 1,500 apprenticeships positions in the UK this year. The company made this announcement on February 2. Amazon says it will be offering 40 entries to degree level apprenticeship schemes which will include new schemes in areas including retailing, social and corporate governance (ESG), marketing and publishing. […]

Insurance Firm Descartes Raises $120 Million From Latest Financing Round

France based catastrophe insurance company Descartes Underwriting which specializes in insurance policies to protect large businesses against natural disasters and catastrophes announced having raised $120 million. The company made the announcement on January 31 further adding that the funding came from investors. The company failed to state its market valuation following the recent funding round […]

Meta Pauses New Users Joining CrowdTangle Citing Staffing Constraints

Leading social network platform running various social media platforms Meta Platforms Inc. (FB) has paused new users from joining its social media cracking tool CroudTangle citing staffing constraints in the company which rebranded recently from Facebook to Meta. Back in last year, Meta Platforms disbanded the CrowdTangle labour force, since then, the company has been […]

Micron to Stop DRAM Chip Design Operations in Shanghai this Year

U.S based manufacturer of computer memory and data computer storage Micron Technology Inc. (MU) will be discontinuing DRAM chip design operations in Shanghai before the year is over. The company made this announcement on January 26. According to the announcement, Micron will be closing its DRAM Engineering Group from its Shanghai Design Center next year […]

EV Maker Jidu Raises $400 Million in Fresh Funding Round

Jidu Automotive, the electric vehicle unit of Chinese technology company specializing in internet services and artificial intelligence Baidu Inc. (BIDU) announced having raised $00 million from its recently concluded financing round. Lead investors in the financing round included; Baidu and Zhejiang Geely Holding Group. There were no external investors who took part in this financing […]

Canada’s Foreign Ministry Confirms it Was Hacked

Canada’s foreign ministry has confirmed that it was hacked last week and that some of its services are still down. This was announced was made by official from the ministry earlier this week further adding that some services are still down at the ministry. The Ministry first raised alarm over the incidence last week one […]

Temasek Set to Acquire Element Material in a $7 Billion Deal

Singapore based state holding firm owned by the Government of Singapore Temasek Holding Ltd has reached an agreement to acquire Element Materials Technology (LON: BPTB) in a deal worth $7 billion. Element Materials is a global provider of testing, inspection and certification services for materials and products. Insider sources have revealed that Temasek has seen […]