Markets

Toyota to Slash Global Production by Over 100,000 Come June

Leading car manufacturer Toyota Motor Corp. (TYO: 7203) has revealed that it will be slashing its global production by 100,000 to roughly 850,000 vehicles in June due to the prolonged global shortage of computer chip which has disrupted normal production activities especially in the car industry. The company made this announcement on May 24, it […]

BMW Considering Energy Investments to Cut Off Dependency on Natural Gas

German based manufacturer of luxury cars and motorcycles BMW AG (ETR: BMW) is looking into making new investments in solar, geothermal and hydrogen energy aiming to reduce its dependency on natural gas. This development was revealed by the company’s managing director and board member Milan Nedeljkovic, on May 23 as he further warned that a […]

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. […]

Renault Unveils Hydrogen Fuel Cell Powered Prototype SUV

France based vehicle manufacturer Renault SA (EPA: RNO) unveiled hydrogen-powered prototype sport utility vehicle (SUV) as it seeks to catch up with its peers in the automobile industry who have been competing to produce environmental friendly vehicles. The SUV is dubbed ‘Scenic Vision’ and the company said it will be commercially available staring from 2030 […]

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 […]

Mass-Market Retailer Casino Planning to Sell Renewable Energy Unit

France based food retailer Casino SA (PAR: CASP) is planning to sell its renewable energy unit GreenYellow, the company says it has already launched a process for the sale with an aim of closing the transaction before the tear is over. The company made this revelation as a response to rumors which have being doing […]

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 […]

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 […]

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 […]

Uber to Trim Costs and Slow Down on Hiring

Ride hailing company Uber Technologies Inc. (UBER) says that it will be cutting costs on its marketing and incentive activities and scale down hiring in efforts to cut down on its capital expenditure. This development was revealed through a letter from the company’s chief executive officer, Dara Khosrowshahi. “The least efficient marketing and incentive spend […]