Similar to other auto manufacturers, BMW also finds ways to reduce costs to invest in electric vehicle manufacturing. BMW, the German auto-manufacturer, reported that the company and the labour have agreed on common terms for reducing costs to skirt across “drastic measures”. The company had been...

According to a report published by Reuters citing sources, investment in the initial public offering (IPO) of Saudi oil giant Saudi Aramco is being planned to be made by the sovereign wealth funds of Abu Dhabi and Kuwait. Aramco is primarily depending on investment investments from Saudi Arabia and...

Two South Korean battery manufacturing firms SK Innovation and LG Chem are fighting a bitter battle in court in the United States over charges of misappropriating trade secrets with the aim of each to prevent importing and selling EV batteries to a host of planned electric vehicles of a number of...

Net income of HP Inc. in the 2018-2019 fiscal year, ended on October 31, amounted to $ 3.152 billion, which is 1.7 times less than in the last financial year, the company reported. Diluted earnings per share for the reporting period amounted to $ 2.07 compared to $ 3.26 for the same period last...

The US Federal Civil Aviation Agency will remain the only agency eligible to certify the aircraft. “The public and safety interests in the aviation trade are requiring the management to retain the authority to issue airworthiness certificates and export airworthiness certificates for all 737 MAX...

An agreement for construction of a new car manufacturing plant in Indonesia has been signed by South Korea’s Hyundai Motors which will be the first such facility of the company in Southeast Asia outside of its home market, the company announced on Tuesday. The aim of the company is also to...

Uber refused to renew its license to work in London, one of the key markets for taxi services. Inspection of the company by the British regulator revealed several thousand violations: for example, drivers took orders without a license. The British state-owned enterprise Transport for London (TfL, a...

Paytm, the largest digital payments company of India and backed by the Japanese investment conglomerate SoftBank, has managed to raise $1 billion in a funding round that was headed by the US-based asset manager T Rowe Price.   SoftBank and Ant Financials are among the major investors in this...

Novartis buys The Medicines Co, a US-based biotechnology company, for about $ 9.7 billion. The Swiss pharmaceutical company aims to expand its portfolio of anti-cardiovascular drugs. Novartis will pay $ 85 per share in cash, which is about 24% higher than The Medicines Co shares at $ 68.55 at the...