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Daimler Takes Up 33% Stake In ACC Venture, Further Expanding Its European Battery Network

Daimler Takes Up 33% Stake In ACC Venture, Further Expanding Its European Battery Network

Daimler subsidiary Mercedes-Benz is currently implementing a strategy of expanding its European sourcing of battery cells that are critical for meeting its goals for electric vehicles, which are currently majorly manufactured in Asia, and announced an investment in battery cell maker Automotive...
Huawei Executive Welcomed Back By China, But Country Silent On Freed Canadians

Huawei Executive Welcomed Back By China, But Country Silent On Freed Canadians

Meng Wanzhou, the chief financial officer of the world's largest telecom equipment maker giant Huawei, was welcomed back to the "motherland" on Saturday after spending more than 1,000 days under house arrest in Canada on what the Chinese media termed baseless allegations of bank...
Payment Deadline Missed By China Evergrande And Its EV Unit Says It Is Cash Strapped

Payment Deadline Missed By China Evergrande And Its EV Unit Says It Is Cash Strapped

China Evergrande's electric vehicle company warned on Friday that it risked an unclear future except if it received an immediate financial infusion, marking the strongest evidence yet that the property developer's liquidity problem is spreading in other parts of the enterprise.   The...
China Evergrande’s Interest Payment Deadline Passes, Fears Grow

China Evergrande’s Interest Payment Deadline Passes, Fears Grow

With an interest payment deadline passing without any statement from the property behemoth China Evergrande on Friday raised fears of the beleaguered Chinese firm edging closer to the probable default that investors dread. The huge debt of the company has kept markets and investors on the edge,...
Evergrande Ordered By Chinese Authorities Not To Default On Dollar Bond

Evergrande Ordered By Chinese Authorities Not To Default On Dollar Bond

According to a Bloomberg Law report on Thursday, Chinese officials had ordered China Evergrande Group to prevent a near-term default on its dollar notes. The property developer is set to make a much-anticipated interest payment on its overseas debt on Thursday.   In a recent discussion with...
Tesla Partners With Samsung For Producing Its HW 4.0 Self-Driving Auto Chip

Tesla Partners With Samsung For Producing Its HW 4.0 Self-Driving Auto Chip

The world's biggest chipmaker, Samsung Electronics Co., will produce Tesla Inc.'s next-generation hardware 4 (HW 4.0) chip for the company's fully autonomous driving technology.   Samsung is expected to win the deal over larger foundry competitor Taiwan Semiconductor Manufacturing Co....
FedEx’s Quarterly Profits And Annual Forecast Hit By Labour Shortages

FedEx’s Quarterly Profits And Annual Forecast Hit By Labour Shortages

FedEx Corp., a United States based delivery company, reported a 7 per cent drop in its quarterly profits and lowered its full-year outlook on Tuesday. This was after labour shortages crimped earnings and drove up costs ahead the crucial holiday peak season.   After FedEx announced that...
Ford’s Indian Workers Protest Against Firm’s Closure Of Indian Factories

Ford’s Indian Workers Protest Against Firm’s Closure Of Indian Factories

On Tuesday, hundreds of workers from a Ford Motor Co. factory in Gujarat state in the West of India sat on the protest at the plant, demanding that the factory's closing plan be abandoned and that workers are given other jobs.   Clad in blue uniforms, the workers protested outside Ford's...
Foreign Investors May Be Allowed To Buy Up To 20% In India’s LIC IPO

Foreign Investors May Be Allowed To Buy Up To 20% In India’s LIC IPO

The Indian government could open up the initial public offering of state-owned Life Insurance Corporation to foreign institutional investors and allow them to purchase up to 20 per cent of the shares of the company, said reports quoting government sources.   India's largest ever initial...
Fears Over China’s Evergrande's Domestic Bond Payment Deal Soothes At Least For Now

Fears Over China’s Evergrande's Domestic Bond Payment Deal Soothes At Least For Now

China Evergrande Group's main unit said Wednesday that it had reached a settlement with bondholders in order to settle interest payments on a domestic debt. This helped to calm fears of a default that could cause financial chaos worldwide.   China's central bank also injected 90 billion yuan...
Salesforce Rival Freshworks Aims To Raise Raises $1.03 Bln In U.S. IPO

Salesforce Rival Freshworks Aims To Raise Raises $1.03 Bln In U.S. IPO

The price of its initial public offering in the United States that will be offered by Freshworks, a business software company, will be well above the range that would be required to raise a fund of $1.93 billion, the company has said.   Freshworks, a direct rival of Salesforce, will be...
Concerns Of China’s Evergrande’s Ability To Service Debts Grips Markets

Concerns Of China’s Evergrande’s Ability To Service Debts Grips Markets

The dangers of China Evergrande Group defaulting on its pile of debts posed a potential threat over apprehensive business sectors on Tuesday, as investors searched for indications of mediation by Beijing to stem any likely cascading type of influence across the global economy.   Experts...
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World

WHO Faces Major Budget Cuts: The Impact on Global Health

WHO Faces Major Budget Cuts: The Impact on Global Health
The World Health Organization (WHO) is bracing for significant financial cuts, signaling a major shift in global health governance. A proposed 21% reduction in its budget is expected to reshape its...

UK Detects First Case of Bird Flu in a Sheep, Stoking Fears of Spread

UK Detects First Case of Bird Flu in a Sheep, Stoking Fears of Spread
In an unprecedented development, UK authorities have confirmed the first-ever case of bird flu (H5N1) in a sheep. The case was detected in northern England, where routine monitoring of farmed...

2024: A Year Marked By Escalating Climate Extremes

2024: A Year Marked By Escalating Climate Extremes
In 2024, the global community faced unprecedented climate challenges, with human-induced climate change significantly intensifying extreme weather events. A comprehensive analysis by World Weather...

First Severe Human Bird Flu Case In U.S. Highlights Growing Health Concerns; Emergency Declared

First Severe Human Bird Flu Case In U.S. Highlights Growing Health Concerns; Emergency Declared
The United States has reported its first severe human case of bird flu in 2024, involving a Louisiana resident who is hospitalized in critical condition. This marks a significant shift in the ongoing...

Methane Emissions From Tropical Wetlands: A Growing Threat To Global Climate Goals

Methane Emissions From Tropical Wetlands: A Growing Threat To Global Climate Goals
Tropical wetlands, long known for their ability to absorb vast amounts of carbon, are now emerging as a major contributor to methane emissions, significantly complicating global efforts to tackle...

People

Trump Declines Further Debates As Harris Emerges As Debate Winner In Polls

Trump Declines Further Debates As Harris Emerges As Debate Winner In Polls
Republican nominee and former U.S. President Donald Trump announced on Thursday that he would not participate in a third presidential debate against his Democratic rival, Vice President Kamala...

Kamala Harris Targets GOP Economic Criticism With New Policy Proposals

Kamala Harris Targets GOP Economic Criticism With New Policy Proposals
Vice President Kamala Harris on Friday presented a comprehensive economic policy agenda aimed at countering criticisms from Republicans and addressing key middle-class concerns. Speaking in Raleigh,...

Musk Gives To An Organisation That Supports Trump's Election: Bloomberg

Musk Gives To An Organisation That Supports Trump's Election: Bloomberg
According to a Bloomberg story quoting sources, billionaire Elon Musk, who has been criticising US President Joe Biden more and more, has contributed to a political organisation that aims to elect...

New Study Finds People Who Were Class Bullies Could Make Higher Incomes In Their Middle Age

New Study Finds People Who Were Class Bullies Could Make Higher Incomes In Their Middle Age
A recent study challenges the widely held belief that school bullies would eventually get their comeuppance by indicating that they are likely to end up with greater earnings. The Institute for...

In A New York Corporate Fraud Lawsuit, Trump Slapped Fines And Interest Of $454 Million

In A New York Corporate Fraud Lawsuit, Trump Slapped Fines And Interest Of $454 Million
A New York judge ruled in the former president's civil business fraud trial on Friday, ordering him to pay a total of approximately $454 million in penalties.   According to an attorney...