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Japan Contemplating Banning All Russian Oil Imports

Japan is holding talks with the Europe and United sates concerning a potential ban of all Russian oil imports. This development was first reported on Kyodo news on March 7. Russia is the fifth largest supplier of crude oil to Japan. This development comes exactly one day after U.S. Secretary of State Antony Blinken announced […]

Russia Blocks Facebook Citing Restriction of Access to Local Media

Russia has blocked access of widely used social media platform Facebook accusing the Meta Platforms Inc. (FB) owned platform of restricting access to Russia media on the platform. This was announced during the weekend by Russia’s communications regulator Roskomnadzor. According to the communication regulator, since October 2020, there have been more than 26 cases of […]

Tesla Secures Approval for its New Gigafactory Near Berlin

United States based electric vehicle manufacturer Tesla Inc. (TSLA) confirmed having secured an approval from the Brandenburg state environment office for its planned gigafactory near Berlin. Tesla’s application was approved by the authorities on March3. The EV maker has been seeking for a license to start production at the electric vehicle plant near and adjacent […]

Visa and Mastercard Block Russian Financial Institutions Following Sanctions

Financial services providers and digital card payment companies Visa Inc. (V) and Mastercard Inc. (MA) have both blocked various Russia based financial institutions from their network as a way of complying with the sanctions imposed by the government of United States against Russia following its invasion into Ukraine. In the beginning of the week, Visa […]

Toyota Getting Ready for its First Battery Electric Vehicle

Leading automobile manufacturer Toyota Corp. (TYO: 7203) is gearing up for its first Battery Electric Vehicle (BEV) the company is currently putting together all its efforts to make sure that its first mass market model is safer and lasts longer than those of their competitors in the industry. BEVs have been increasing their popularity across […]

Starlink Active in Ukraine After Russia Disrupts Internet Says Musk

Elon Musk, founder and CEO of SpaceX has confirmed that the company’s Starlink satellite broadband service is available and fully active in Ukraine following disruption of internet services to the European nation following invasion by Russia. Musk made the revelation as he was responding to a tweet by a Ukraine government official who wanted Musk […]

WPP Initiates a $1.1 Billion Share Buyback Program

Britain based communications, advertising, public relations, technology and commerce holding company WPP Plc. (LON: WPP) has launched a fresh $1.1 billion share buyback program for the year following a strong client demand which helped the company to surpass its financial estimates for last year. For the ended 2021 financial year, the company recorded main net […]

Lucid Recalling 203 Cars Citing Potential Safety Issues

U.S based electric vehicle manufacturer Lucid Group Inc. (LCID) says that it will be recalling over 200 cars of its premium sedan due to potential safety issues. The company made this announcement on February 3 which was followed by a slight share price plunge. According to the announcement, Lucid said there is a chance that […]

E-bike Startup Zoomo Raises $20 Million for Expansion

Designer and seller of commercial grade electric bikes through subscription models Zoomo announced having raised an extra $20 million from its latest financing round. The company will be using the cash to finance its expansion in Europe and grow its software and engineering teams. This financing round brings the company’s total Series B financing to […]

Allianz Sacks Two Asset Manages After Investment Fund Collapse

German based financial services provider and insurance company Allianz SE (ETR: ALV) has fired two asset managers who were in charge of the company’s group of investment funds which collapsed following a string of losses courtesy of the coronavirus pandemic which has indeed crippled many industries around the world. The collapse of $15 billion Structured […]