Money

Volkswagen’s Skoda Halts Production in Czech For a Week Due to Chip Shortage

Skoda Auto, Czech Republic based car manufacturer owned by leading German based automotive manufacturer Volkswagen Group AG (ETR: VOW3) says that it stopped production activities at its main domestic factories for a week at the end of September due to chip shortage. This chip shortage resulted to various unexpected circumstances like delayed car deliveries, a […]

South Korea Slaps Google With a $177M Fine For Blocking Android OS Customized Version

Alphabet Inc. (GOOGL) the parent company of leading search engine Google has been slapped with a 207 billion won ($176.64 million) fine by South Korea’s antitrust regulator, Korea Fair Trade Commission (KFTC) for blocking the customized version of Android Operating System which it also owns. KFTC claims that according to the contract terms between Google […]

Epic Games Appeal in Apple Court Case Concerning Fortnite Video Game

The creator of famous video game ‘Fortnite’, Epic Games has appealed a court ruling made on its antitrust case against giant tech company Apple Inc. (AAPL). This ruling was made by a federal judge last week on Friday. According to the judge, Apple will have to loosen some measures on developers, nonetheless, the ruling favored […]

German Regulators Initiate Probe Into Allianz After Disappearance of U.S Investment Funds

German financial regulators have initiated a probe into the country’s leading financial service provider Allianz SE (ETR: ALV) following the disappearance of United States investments funds from the company, this unfortunate incidence is said to have taken place during last year. In recent times, Allianz has been slapped with various lawsuits related to its structured […]

Texas City Offering Samsung Extensive Property Tax Breaks to Build $17 Billion Chip Facility

Texas City is considering to offer South Korea based consumer electronics manufacturer Samsung Electronics Co Ltd. (KRX: 005930) large property tax breaks if the tech giant chooses a location in the state to set up a $17 billion chip plant. Samsung is considering one of the two locations in Texas to build the plant, Austin, […]

China Expecting to Have Sold 1.7 Million NEVs For the First Eight Months of 2021

China is looking forward to have sold 1.7 million new energy vehicles (NEVs) for the first eight months of the year. This value represents almost a three times fold considering the country only sold 600,000 NEVs for the same period last year. This was announced by China’s vice minister of Industry and Information Technology, Xin […]

Pershing Square to Increase its Stake in Vivendi by 2.9%

United States hedge fund management company Pershing Square Holdings Ltd (AMS: PSH) announced that it will be increasing its stake in Vivendi SE (EPA: VIV) which owns Universal Music Group (UMG) by 2.9% for $1.49 billion. Vivendi claims that this transaction is based on an enterprise value of $41.40 billion for 100% share capital of […]

10 Alibaba Employees Fired for Leaking Sexual Assault Accusations

Chinese giant company specializing on e-commerce, internet, technology and retail Alibaba Group Holding Ltd. (BABA) has sacked 10 of its employees who leaked sexual assault accusations. The employees shared screenshots of the account of a female colleague who got sexually assaulted by a former boss. The employees were sharing screenshots of posts made by the […]

Freshworks Inc. Files for U.S Initial Public Offering

Provider of software as a service platform enabling small and medium-sized businesses to support customers via email, phone and websites Freshworks Inc. has filed for its United States initial public offering. According to the regulatory filing, the company recorded almost 53% increase in revenue as the number of new customers signing up for its services […]

First Ever Woman Elected as the President of U.S Largest Labor Organization AFL-CIO

The largest labor organization in the United States, the AFL-CIO, has made history after electing its first ever woman as the president of the organization. AFL-CIO elected Liz Shuler who is taking after former president, Richard Trumka who passed on at the beginning of the month. Liz Shuler has immense experience in matters involving trading […]