Markets

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 […]

U.S and Chinese Regulators Holding Talks Over Audit Deal

United States and Chinese regulators are currently holding talks with an aim to find a settlement over a long-standing dispute over the auditing compliance of Chinese companies listed in the U.S stock markets. If the two sides fail to come up with a solution, this could result to U.S listed Chinese companies kicked out of […]

Moncler to Open 200 Stores in the Next Three Years

Italy based luxury fashion brand Mencler says that it will be opening or refurbishing 200 stores in the next three years and increase its online sales for its eponymous brand known for its puffer jackets to 25% of total revenue. The company is planning to open 10 to 14 new stores across the Asia Pacific […]

Musk Wants to Boost Twitter’s Audience Significantly

World’s richest man Elon Musk who recently acquired widely used social network Twitter Inc. (TWTR) says that he wants to expand the platform’s reach beyond the current niche to a point where most Americans use the platform. Musk made the sentiments to reports during the red carpet at the annual Met Gala in New York. […]

Qualcomm to Supply Volkswagen with Chips for Automated Driving

German based car manufacturer Volkwagen Group (ETR: VOW3) has entered into a partnership with United States computer chip manufacturer Qualcomm Inc. (QCOM) to develop automated driving technology with the contract set to run until 2031. According to the German daily Handelsblatt which was the first to report the news, Volkswagen will be using Qualcomm’s system-on-a-chip […]