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Apple Seeking to Ramp Up Production Outside China

American technology company specializing in consumer electronics, software and online services Apple Inc. (AAPL) has informed some of its contract manufacturers that it seeks to scale up production outside China. This development was first published on the Wall Street Journal which claimed to have sourced the information from sources with direct involvement in the matter. […]

JPMorgan is Expecting a Slowdown in its IT Services Industry in India

United States based investment bank and financial service provider JPMorgan Chase Co. (JPM) is wet to cut down on its information technology (IT) operations in India since the growth boom the sector experienced during the pandemic time is over. The company’s analysts say that they have downgraded the sector to underweight. The sector is valued […]

Microsoft to Change Licensing Terms Following Cloud Computing Complaints

Technology company and software developer Microsoft Corp. (MSFT) says that it will be changing its licensing term to enable cloud service providers to better compete following a huge backlash and complaints on the matter. This development was announced on May 18 by the company’s president Brad Smith while on a conference organized by think tank […]

KKR to Acquire Power Generation Firm ContourGlobal for $2.2 Billion

United States based private equity firm KKR & Co Inc. (KKR) will be acquiring wholesale power generation company ContourGlobal PLC (LON: GLO) in a deal worth 1.75 billion pounds ($2.16 billion). KKR says this acquisition deal will come as a strategy of expanding its presence in the renewable energy industry. According to the acquisition deal, […]

Tech Giants Wants Supreme Court to Block Texas Social Medial Law

Leading tech companies including: Twitter Inc. (TWRT), Alphabet Inc. (GOOGL) and Meta Platforms Inc. (FB) among others have filed an emergency request with the United States Supreme Court requesting the court to block a Texas law which bars large social media platforms from banning users based on their political views. The Texas law came into […]

Ford Sells 7 Million Rivian Shares for $188.2 Million

United Stated based car maker Ford Motor Co. (F) has sold 7 million shared it held for electric vehicle manufacturer Rivian Automotive Inc. (RIVN) for $26.88 per share with the total transacting amounting to $182.2 million. This was revealed through a filing Ford made with regulator last week. According to the filing with the U.S […]

VW Expects its EV Business to be Profitable as Combustion Engines Sooner Than Planned

German based car manufacturer Volkswagen Group (ETR: VOW3) is expecting its electric vehicle (EV) business to turn out profitable just as its combustion engine business sooner than planned. This was revealed by the company’s chief executive officer, Herbert Diess, during a shareholders meeting held on May 11. “We expect that the e-mobility business will be […]

Nissan Expects No Profit Growth due to Rising Cost of Raw Materials

Japan based car maker Nissan Motor Co. (TYO: 7201) has predicted a flat operating profit for the current financial year citing the increasing cost of raw materials, COVID restrictions in China and the global computer chip shortage. This comes less than a day after its industry peer Toyota Motor Co. (TYO: 7203) announced that the […]

Lucid to Launch Luxury Sedans in Europe Later in the Year

California based manufacturer of electric vehicle Lucid Group Inc. (LCID) is planning to launch luxury sedans in Europe later this year following an increasing demand of electric vehicle across the world. Similarly, its U.S rival Tesla Inc. (TSLA) has also been expanding its presence especially in Asia and Europe. Lucid says it will be launching […]

Jefferies CEO Handler’s Account Instagram Account Hacked

American independent investment bank and financial service provider Jefferies Financial Group Inc. (JEF) announced that the Instagram account for its Chief Executive Officer Rich Handler had been hacked. This incidence took place during the past weekend. “Any stories related to discounted sales of shares, crypto donations or donations to Ukraine that appear on that hacked […]