Markets

Intel Issues an Apology Over Xinjiang Supplier Statement

United States based tech company and world leading chip manufacturer Intel Corp. (INTC) has issued an apology to its Chinese customers and partners concerning a public letter it had released two days ago urging its suppliers to avoid sourcing products or labor from China’s the western region of Xinjiang. According to the annual letter to […]

Oracle Focusing on Doubling its Client Base in Latin America

U.S based computer technology and enterprise software company Oracle Corp. (ORCL) says that it’s working on increasing its client base by double and ramping up its profits in Latin America come next year. This was revealed by the company’s executive vice president for Latin America, Luiz Meisler, who claimed that for the company to achieve […]

YouTube TV Strikes Deal to Restore Access to Walt Disney Channels

Alphabet Inc. (GOOGL) owned YouTube TV has started restoring access to channels from entertainment and media company Walt Disney Co. (DIS) on its platform after the two companies reached a distribution agreement following a two-day deadlock on the matter. YouTube took on twitter to announce having reached a solution on the matter, nonetheless neither of […]

Intel Injecting $7 Billion Investment to Set Up a New Factory in Malaysia

United States based technology company and world leading chip manufacturer Intel Corp. (INTC) will be investing a whopping $7.1 billion to set up a new plant in Malaysia. The new plant will be used for chip-packaging and testing and it will be creating employment opportunities for over 5,000 people. This announcement was made by the […]

Reddit Confidentially Files for a U.S IPO

Social networking platform where users gather to share ideas and insights Reddit Inc. has confidentially filled for a United States initial public offering (IPO) with the market regulator, Securities and Exchange Commission (SEC). Reddit made this announcement on December 16. Earlier in the year, Reddit held a private funding round which left the company with […]

Starbucks Closes Down 2 Chinese Outlets Following Use of Expired Ingredients Reports

United States based multinational chain of coffeehouses and roastery reserves Starbucks Corp. (SBUX) has closed down two of its outlets in China following reports that expired ingredients to make drinks in the outlets. This act goes against food safety rules. This development was first reported by the Beijing Newspaper claiming to have arrived at the […]

Ford Aiming to Triple Production of Electric Mustang by 2023

United States based automotive manufacturer Ford Motor Co. (F) is aiming at tripling production of its all electric Mustang Mach-E SUV by the year 2023 for North America and Europe, this means that the company will be producing over 200,000 units of the car annually. This announcement was made by the company’s chief executive officer, […]

Meta offering Deferral Program for Wokers Not Ready to Return to Office

Leading tech company running various social media platforms Meta Platform Inc. (FB) will be reopening its United States offices come January 31. The recently rebranded company, however, says any employees who will not be ready to return to offices by then will have an opportunity to defer their scheduled return by 3 to 5 months. […]

Samsung Merging its Mobile and Consumer Electronics Divisions

Leading technology company Samsung Electronics Co Ltd (KRX: 005930) announced that it will be merging its mobile and consumer electronics divisions in efforts to simplify its structure and focus on expanding its logic chip business. This comes as the biggest reshuffle and restructuring by the South Korea based company since 2017 additionally, the company also […]

Alibaba Appoints New CFO in Top Managerial Shake Up

Leading Chinese online retailer Alibaba Group Holding Ltd (BABA) announced that it will be restructuring the top management of its domestic and international e-commerce business, among the changes include naming a new chief financial officer. The company has named Toby Xu, as its new CFO and he will be the office staring April next year. […]