Finance

Northvolt Makes First Battery Cell in its Sweden Gigafactory

Sweden based battery developer and manufacturer Northvolt AB announced having produced its first battery cell from its new gigafactory in northern Sweden on Dec 29. The assembling of this first battery cell makes Northvolt the first company from Europe to design and produce a battery in the region. The produced battery cell is a prismatic […]

Apple Has Closed New York City Stores Following Spike in COVID-19 Infections

IPhone manufacturer Apple Inc. (AAPL) has temporarily closed all its 12 stores in New York City to indoor shopping due to the recent rapid rise of COVID-19 new infections especially with the Omicron variant which has been on the rise all across the world. The company made this announcement on December 28 further adding that […]

Norvatis Announces a $15 Billion Share Buyback Program

Global healthcare company providing solutions to meet the changing needs of patients across the world Norvatis AG (SWX: NOVN) has announced a share buyback program which will be executed by 2023. The company made this announcement on December 16 further adding that the program is aimed at increasing its confidence in its top-line growth and […]

Toyota to Spend $35 Billion on Battery Electric Vehicles by 2030

Leading Japan based car manufacturer Toyota Motor Corp. (TYO: 7203) says that it will be spending $35 billion to build a line-up of 30 battery electric vehicles (BEV) by the year 2030. The company will be undertaking this initiative as part of it wider program geared towards producing zero emissions vehicles. “That would be part […]

Amazon Fined 1.13B Euros by Italian Regulator for Abusing Market Dominance

Leading e-commerce company Amazon Inc. (AMZN) has been slapped with a 1.13 billion euros by Italy’s antitrust regulator for allegedly abusing its market dominance. The regulator claims Amazon harmed competing operators in the e-commerce logistics service. “Amazon holds a dominant position in the Italian market for intermediation services on marketplaces, which Amazon leveraged to favor […]

Ford Invests $900 Million to Upgrade its Plants in Thailand

United States based automotive manufacturer Ford Motor Co. (F) will be making a capital injection of $900 million to modernize its plants in Thailand which build its Everest SUV and Ranger pickup truck. This will go on record as the largest investment by the car manufacturer in the Asian country. This investment will go into […]

Twitter’s Engineering and Design Chiefs Set to Resign Following Managerial Restructuring

Twitter’s head of engineering, Michael Montano and head of design, Dantley Davis, are expected to resign from their respective positions as part of a wider managerial restructuring by the leading social network work. This announcement was made by the company further adding that the two will be stepping down from their roles at the end […]

Aston Martin CFO to Step Down Citing Personal Reasons

The chief financial officer of manufacturer of luxury sports cars and grand tourers Aston Martin, Kenneth Gregor will be resigning from his position. Gregor who is also an executive director at the company, says that he will be stepping down not later than June 30 2022. The company made this announcement on December 2 citing […]

Nissan Sets Aside $17.6 Billion For Vehicle Electrification

Japan based third largest automobile manufacturer Nissan Motor Corp. (TYO: 7201) says that it has set aside $17.6 billion (2 trillion yen) which it will be using on vehicle electrification over the next five years. The company further says that it aims at launching 23 electrified vehicles by 2030. The company will be undertaking this […]

Apple and Amazon Slapped With $225M Fine For Collusion by Italian Regulator

Giant tech giant Apple Inc. (AAPL) and leading online retailer Amazon Inc. (AMZN) have been slapped with a $225 million (200 million euros) fine by Italy’s antitrust regulator for collusion. The two United States based companies are accused of engaging into anti-competitive alliance in the sale of Apple and Beats products. The antitrust regulator claims […]