Saudi Arabia has signed a contract with US electric car maker Lucid Company to buy up to 100,000 Lucid Air electric vehicles over ten years. Lucid Air, the rival to Tesla electric car, was launched last autumn. In order to diversify the vehicle fleet and spread eco-friendly transport, Saudi...

Microsoft Corp. said that its net profit for the first nine months of fiscal 2021-2022, which ended March 31, 2022, increased 25% year over year to $55.998 billion. Total revenue climbed 20% year over year to $146.405 billion in the first three quarters. For the period, diluted earnings per share...

Computers that process data using light rather than electric currents, which were once considered research projects, are gaining traction, and businesses that have mastered the engineering difficulty of exploiting photons in chips are receiving significant funding.   In the most recent...

Bloomberg reports that Huawei Technologies spent more than $22 billion on research and development in 2021 to avoid US sanctions, using its own figures. "China's greatest digital powerhouse has virtually doubled its R&D spending over the last five years, reaching $22.1 billion in 2021 - more...

On Monday, Elon Musk agreed to purchase Twitter Inc for $44 billion in cash, transferring ownership of the social media network used by millions of people and world leaders to the world's richest person.   It's a watershed moment for the 16-year-old firm, which rose to become one of the...

Last quarter, Hyundai Motor's net profit attributable to parent company shareholders increased 16.8% year on year to 1.777 trillion won (about $1.43 billion), according to the firm. The quarter's revenue was 30.299 trillion won ($24.5 billion), up 10.6% year on year. Operating profit grew by 16.4%,...

The Boring Company, an underground tunneling company owned by billionaire Elon Musk, said that it has acquired $675 million in funding from a group of investors led by Vy Capital and Sequoia Capital. As a result, the company's market capitalization increased to roughly $5.7 billion, according to...

Shares in US electric car maker Tesla are up 5.6% in pre-trade on record net profit attributable to shareholders of $3.32 billion last quarter, about 7.6 times last year's figure, according to the company's report. Diluted earnings per share were $2.86 after $0.39 for the first quarter of 2021,...

Due to demand uncertainties and an excess supply of other injections, Johnson & Johnson lowered its full-year earnings prediction on Tuesday and said it could no longer provide a forecast for sales of its COVID-19 vaccine.   The single-dose vaccination, which has performed badly in...