Daily Management Review
Business & Finance

Fire Damage At Renesas’ Chip Factory Worse Than Initially Estimated, Says Firm

The fire that ravaged the chip making factory of the Japanese chip maker Renesas Electronics Corp situated in northeast Japan has caused much more damage than the company had previously estimated initially, said a spokeswoman of the company on Monday.   The fire at the manufacturing unit...

Toyota Opens Its First Hydrogen Fuel Site In Australia, Urges Government To Promote Such Sites

Its first commercial hydrogen fuel pump site in the Australian state of Victoria was opened by the Japanese auto maker Toyota Motor Corp on Monday as the firm urged the Australian government to help in the rollout of more such sites so that there is greater acceptance of cleaner fuel cars by...

Goldman Sachs arranges $10.5B sell-off

Goldman Sachs, one of the world's largest investment banks, sold off shares in eight companies for a total of $10.5 billion on Friday, Bloomberg reported. The securities were sold in two stages. Shares in Baidu, Tencent Music Entertainment Group and Vipshop worth $6.6 billion were sold before the...

Nissan, Stellantis, Nio Impose More Production Curbs Because Of Chip Shortage

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 In US And Europe Hit By Suez Crisis On Top Of Pandemic Supply Issues

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...

Row Over Forced Labour In China’s Xinjiang Hits European Fashion Brands

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....

Chinese taxi service DiDi aims for $100B IPO in New York

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...

Intel will spend $20bn to build new chip plants

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...

Chip Shortage Finally Catches Up With Hyundai As It Faces Production Hit From April

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....

Geely Automobile's annual profit falls by 32%

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...
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