The German carmaker Daimler AG will cut thousands of jobs around the world by the end of 2022 in order to save on costs amid large investments in innovative technologies. This will allow Daimler to achieve the goal of reducing staff costs by €1.4 billion by the end of 2022. "The automotive...

Amazon’s cloud unit to launch “more powerful” processor chips. The cloud computing arm of Amazon has come up with a second “generation of data center processor chip” which is “more powerful” than before, reported two sources. The said step confirms that the company is investing in “custom silicon”...

Dell Technologies has released its latest quarterly report for recently ended the third quarter of fiscal year 2020. For the quarter, the company received revenue of $ 22.8 billion. This is 2% more than the income for the third quarter of the previous financial year. A year ago, the company...

Aramco IPO did not gather momentum beyond the Gulf region, resulting in a revised lower IPO target; Kuwait and Abu Dhabi are reported to provide support. In an attempt to help Riyadh out of the strife of raising “$25.6 billion from a domestic listing of the state oil giant”, the wealthy neighbours...

Deutsche Bank sold a portfolio of securities with a face value of £ 40 billion ($ 51 billion) to Goldman Sachs, Bloomberg reports citing sources, and notes that the German bank got rid of assets that were unnecessary to it. The subject of the transaction were debt securities of emerging markets....

As part of overhaul, Deutsche Bank sells off “unwanted assets”. Deutsche Bank has made a sale of its “unwanted assets” worth “$50 billion” to Goldman Sachs. This step forms part of the bank’s restructuring plan, confirmed a source with the knowledge of the matter.   According to Reuters...

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...