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Tesla Hikes Car Prices For the Second Time in Less Than a Week

Leading electric vehicle maker Tesla Inc. (TSLA) is on the spot once again for increasing its car prices two times in a period of less than a week. This second increase comes just a day after the company’s founder and chief executive officer, Elon musk, said as a company they are facing a significant inflation […]

Chip Shortage Made Volkswagen Sell 2 Million Fewer Cars Last Year

German based car manufacturer Volkswagen Group (ETR: VOW3) claims that the global chip shortage pushed it to sell 2 million fewer cars last year. The company made this revelation on March 15 further adding the ongoing Russia-Ukraine conflict will even worsen the situation this year. The Russia-Ukraine war has been affecting the global supply chain […]

Tesla and SpaceX Facing a Great Infalation Risk Says Elon Musk

Elon Musk the founder and CEO of both Tesla Inc. (TSLA) and SpaceX believe that the two companies are both facing a significant risk of inflation arising from raw materials and logistics. Musk made this revelation on Twitter where he is mostly active. In his tweet, Musk also acknowledged it’s not his companies alone which […]

YouTube Blocks Russia State-Funded Media Channels Across the World

Online video sharing and social media platform YouTube has blocked all Russia state-funded media channels from its platform all around the world. YouTube says it took this move due to a policy blocking content which denies, minimizes or trivializes well-documented violent events. YouTube’s parent company of Alphabet Inc. (GOOGL) says that unfortunate actions by Russia […]

Roman Abramovich’s U.S Hedge Fund Investment Frozen

United States hedge fund firms which have investments from Russian oligarch Roman Abramovich have been directed to freeze his assets after Britain imposed sanctions on the billionaire last week. A few days ago, Britain froze his assets including Britain based football club Chelsea football club. In addition, Britain also imposed travel ban on the billionaire […]

Toshiba’s Top Shareholder to Vote Against a Spin-Off Plan

Singapore based activist investor providing financial planning and investment advisory services Effissimo Capital Management revealed it had resolved to vote against a potential spin-off of Japan based conglomerate Toshiba Corp. (TYO: 6502). Effissimo made this announcement on March 10 after it came to a conclusion that the separation might damage medium- to long-term corporate value […]

Universal Music Group Halts Operations in Russia

American multinational music cooperation Universal Music Group NV (AMS: UMG) has declared it will be suspending its operations Russia and close its offices in the country. A number of multinational companies have been pulling their operations out of Russia protesting Russia invasion into Ukraine and UMG has joined the bandwagon. “We urge an end to […]

Adidas Appoints New China Head in Efforts to Revive Sales

German based designer and manufacturer of clothes, shoes and accessories Adidas AG (ETR: ADS) has appointed a new head in China as it seeks to revive sales in the world’s second largest economy. The company has appointed Adrian Siu, as the new chief in China with immediate effect starting from March 8. The new chief […]

Citibank Planning to Hire 900 Employees Over the Next 3 Years

United States based investment bank and financial service provider Citibank Inc. (C) is planning to hire 900 employees over the next three years who will be working in its commercial banking unit, Citi Commercial Bank (CCB). The bank says a large chunk of the employees will be centered in its Asia Pacific Business where it […]

AutoFi Raises $85 Million to Expand its Online Auto Finance Business

San Francisco based provider of dealership systems to support online car sales and financing AutoFi announced having raised $85 million from its just concluded financing round. The company will be using the cash to expand its operations. This funding round leaves the company sitting on a market valuation of around $700 million. Investors who took […]