The latest car manufacturers to announce curbs in production because of the global shortage of auto chips include Stellantis NV and Chinese electric vehicle maker Nio.   Production at its five North American plants will be halted starting next week, Stellantis said on Friday due to the...

Retailers Europe and the United States will likely find it hard to keep products in stock during the coronavirus pandemic because of the blockage of the Suez Canal due to a stranded container ship.   It is estimated by experts that it would likely take weeks for rescuers to salvage the...

A host of European fashion brands such as Adidas, Inditex and H&M faced severe criticism on social media in China over their previous comments and views made over contentious issues in Xinjiang province of China which also resulted in their shares falling at the stock exchange on Thursday....

China's largest taxi service Didi is leaning towards choosing New York for its initial public offering and expects the company to be valued at $100bn in an IPO. This was reported to Reuters by knowledgeable sources. According to them, the Chinese company is also considering a second offering in...

New Intel CEO Pat Gelsinger announced that the company will allocate $20bn to build two new microprocessor plants. The plants will be located in the US state of Arizona, according to a statement on the corporation's website. In addition, the company intends to outsource some operations not...

Up until now the global shortage of chips in the auto industry has not been able to hit South Korea’s Hyundai Motor in any significant manner as it has remained more or less resilient to the crisis. But the company will be facing the challenge to curb production because of the shortage from April....

Chinese holding Geely Automobile reported a 32% drop in profits for 2020, saying that the company's performance was affected by the COVID-19 pandemic. The automobile concern's net profit fell to $850 million. Revenue fell 5% to $14 billion. The company sold 1.32 million vehicles last year, while...

Chinese company ByteDance, which owns video service TikTok, is buying game developer Mooton Technology, Reuters reported, citing a statement from the company. Terms of the deal have not been disclosed, but according to Reuters, ByteDance has made a significant investment in the developer, which is...

Canadian Pacific Railway is buying US rival Kansas City Southern, the companies announced. The deal is valued at $29 billion, including Kansas City Southern's debts, the largest merger in the market since the beginning of the year. Kansas City Southern shareholders will receive 0.489 Canadian...