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 […]

Theranos Founder Elizabeth Holmes Defends Herself Against Charges of Defrauding Investors

Elizabeth Holmes, the founder of privately held health technology company Theranos was arraigned last Friday in court to face charges of defrauding investors and patients leveled against her. According to the lawsuit, Holmes is being accused of making false claims about Theranos including that its technology could run a number of diagnostic tests more quickly […]

Amazon and IBM Partners to Increase Reach of Data Tools for Oil Companies

Leading e-commerce company Amazon Inc. (AMZN) and computer hardware company international Business Machines Corp. (IBM) have entered into a partnership which will help companies in the oil sector have an extended reach to a set of tools which the companies use to manage disparate types of data. This partnership will be suing IBM’s technology dubbed […]

Autonomous Driving Truck Company Plus Abandons Merger Deal With a SPAC

Self-driving truck startup using technology on heavy trucks to change commercial transportation and logistics Plus announced having abandoned a merger deal with a blank check company Hennessy Capital Investment Corp V (HCIC). The companies made this announcement in a joint statement citing issues with regulatory environment outside the United States as the main reason to […]

Playtech Receives Takeover Bid From Gopher Investment

Gambling software development company Playtech Plc. (LON: PTEC) says that it has received a takeover bid from Hong Kong based private equity investment firm Gopher Investment which is also the company’s second largest shareholder. Playtech made this announcement on November 8 several weeks after it had entered into agreement with Australia based gambling machine manufacturer […]

Apple Poachers Former Tesla Engineer in Efforts to Improve its Autonomous Driving Unit

United States tech giant Apple Inc. (AAPL) announced having hired, Christopher Moore, a former engineer at leading electric vehicle manufacturer Tesla Inc. (TSLA) in efforts to advance its autonomous driving unit. This development was revealed by insider sources that declined being identified because the company is yet to make the announcement public. This news was […]