Markets

Amazon Sued for Aiding Spread of Coronavirus After Employee Infects Relatives

Giant e-retailer Amazon Inc. (AMZN) has been sued for encouraging spread of deadly coronavirus disease by subjecting employees under unsafe working conditions after one of the company’s employees was infected at work then took the virus home and infected a relative who later passed away. The warehouse worker in New York, Barbara Chandler, contracted the […]

Google Sued for Tracking Private Internet Use

Leading internet engine search Google has been sued in a proposed class action whereby it’s being accused of illegally tracking private internet use of individuals. The search engine is accused of breaching privacy measures of millions of users who use browsers set in private mode. The lawsuit is seeking a compensation of up to $5 […]

Samsung Building a New Memory Chip Plant to Cater for PC and Server Increasing Demand

Industry data shows that demand of personal computers, servers and other consumer electronics has been increasing constantly since coronavirus kicked in forcing individuals to stay and work from home hence the need for the devices in their homes. Tech giant Samsung Electronics Co (KRX: 005930) has announced that it will be building an additional domestic […]

Billionaire Investor Icahn Ditches Hertz After Bankruptcy Filling

Wealthy billionaire investor Carl Icahn has pulled out his entire investment from Hertz Global Holdings Inc. (HTZ) just days after the embattled car rental company filed for bankruptcy. Until his exit, Icahn was the largest shareholder at the company having 39% stake in Hertz, in addition he had three representatives on the company’s board. On […]

Aston Martin CEO to be Replaced by Mercedes-AMG CEO

Chief executive officer of UK based luxury car manufacturer Aston Martin Lagonda Global Holdings PLC (LON: AML) Andy Palmer will be exiting the position in a management reshuffling process the company is undertaking. A direct involved source that declined being revealed since they aren’t mandated to speak about the matter in the public, disclosed Palmer […]

Samsung Building its 6th Domestic Chip Factory

Leading South Korea based producer of multiple consumer electronics Samsung Electronics Co. (KRX: 005930) has made public its upcoming project to build a sixth domestic contract chip production line. The new plant will largely specialize in manufacturing logic chips for computers and mobile phones. Samsung says the upcoming project is in line with its plan […]

TikTok Poaches New CEO From Walt Disney

China based video sharing social networking platform TikTok has poached Chief of streaming in mass media and entertainment company Walt Disney Co. (DIS) Kevin Mayer as its new Chief executive officer. TikTok which is owned by China ByteDance Technology Co announced the news further clarifying the incoming CEO will be assuming office in June 1. […]

Ryanair Trims Passenger Traffic Target For the Year

Dublin based airline Ryanair Holdings Plc. (LON: RYA) announced trimming down its passenger traffic target for the year by an additional 20% citing global traveling volume distortion caused by coronavirus pandemic. Ryanair further said it’s deliberating on pulling out of some airports across Europe as effects of the pandemic are hitting the airline industry hard. […]

TSMC Building a Chip Factory in Arizona

Taiwan based and world’s largest contract chip manufacturer Taiwan Semiconductor Manufacturing Co Ltd (2330) has made public its plans to build a chip plant in Arizona, the plant will cost an estimated cost of $12 billion. This move is seen of having been inspired by attempts from U.S government to shift the supply chain of […]

Sony Develops World’s First Image Sensor With Integrated AI

Japan based Sony Corporation (TYO: 6758) has announced having developed first image sensor with an integrated artificial intelligence (AI) processor in the world. Sony claims this image sensor is capable of scanning barcodes, monitor drowsiness of a driver and it can determine size of a crowd. All this will be captured in one chip. “As […]