The United States auto major General Motors has announced an investment of more than $20 billion till 20205 that it will make on development of technology and production capabilities for the next generation of all-electric and autonomous vehicles in its efforts to make a dent in the fast-growing...

Sales of the Japanese automobile concern Honda fell by 85% in February due to the spread of a new type of coronavirus COVID-19 in China, Kyodo reported. Compared with the same month last year, sales in China fell by 85.1% to 11.3 thousand cars. This is a record reduction in sales for the company....

The American Recording Industry Association has published a report on the state of the US music industry in 2019. Its income grew by 11.7% compared to 2018, mainly due to streaming. According to the annual report of the American Association of Recording Companies, in 2019, revenue from the US music...

A "virtual format" for their Spring Meetings will be held by the International Monetary Fund and the World Bank instead of gathering in person for their annual meeting in Washington because of the growing concerns about the fast-spreading coronavirus.   About 10,000 attendees comprising of...

The United States has blocked startup CloudMinds, backed by SoftBank, from sharing technology developed in the US with its China business, claimed a report published by the news agency Reuters. This incident shows how the increased interference by the US government is creating issues for tech...

Blackstone Investment Fund acquires IQ Student Accommodation, which owns 66 dormitories with 28 thousand beds in the UK. Blackstone will pay Goldman Sachs and the Wellcome Trust, now the owners of the company, $ 6 billion. This will become the largest real estate transaction in the history of Great...

Covid-19 outbreak could collapse Baidu’s Q1 revenue by thirteen percent. Chinese search engine giant Baidu Inc stated, its first quarter revenues could fall as much as much as 13% from a year earlier following the coronavirus epidemic which has slammed the brakes on China’s economic activity....

Hyundai’s Ulsan factory’s worker fall victim of corona virus. The company suspends the operation and is busy disinfecting the facility. On Friday, in a statement, Hyundai Motor stated, production at one of its factories in the southeastern city of Ulsan has been suspended following one of its...

Wells Fargo to pay $35million fine for failure to inadequately supervise sale of high risk products. In a statement the Securities and Exchange Commission has ordered Wells Fargo & Co to pay $35 million towards its failure to inadequately supervise investment advisers who recommended high-risk...