An additional investment of $3.6 billion to increase its stake in hypermarket operator Sun Art Retail Group Ltd was announced on Monday by Alibaba Group Holdings. Analysts say that this investment will help to further strengthen the company’s position in the retail market in China.   ...

Taiwanese tech company and Apple Inc’s largest assembler Foxconn has set itself a target of achieving a position to be able to supply components or its services for at least 10 per cent of the total electric vehicles of the world between 2025 and 2027.   The company’s Chairman Liu Young-way...

The "we" moniker of the parent of money-losing shared office provider WeWork – the We Company, will be dropped by it and it would be known by its former better-known name, said a report citing an internal memo. Last year, WeWork was forced to cancel its plans for a stock market listing following...

The service offerings by the ride hailing company Uber’s food delivery business, Uber Eats, have been expanded in the South African market with the launch of an app-based over the counter medicines service. Analysts said that the company aims to gain market share quickly in the fast-growing online...

The Chinese tech giant Huawei Technologies Co Ltd is planning to sell parts of its Honor smartphone unit and is in negotiations for the same with Digital China Group Co Ltd and other companies, claimed reports citing sources. It is expected that Huawei is planning to generate up to 25 billion yuan...

A plan to reduce their portfolio of high carbon emission assets by as much as 29 per cent within the next five years was announced by thirty of the largest investors of the world who together managing a combined $5 trillion of assets.   The group of investors is called the Net-Zero Asset...

With consumers are increasingly shifting to digital viewing, and with the aim of accelerating the growth of its Disney+ and other streaming services, Walt Disney Co has restructured its media and entertainment businesses, the company said.    The primary aim of the reorganization drive...

A target of achieving net zero carbon emissions across its entire customer base by the year 2050 at the most has been set by HSBC while also providing financing to help clients make the transition to the tune of between $750 billion and $1 trillion, said the bank’s  Chief Executive Noel Quinn...

Despite an increase in demand for its pizzas during the novel coronavirus pandemic crisis, the global pizza chain Dominos Pizza Inc reported a smaller than expected profit for the latest completed quarter because of higher costs related to the pandemic and bonuses to staff.   This bit of new...

According to potential investors and analysts, the restrictions imposed by United States on the Chinese financial technology giant Ant Group will not likely be affect its $35 billion initial public offering (IPO) because of the very limited overseas presence of the company.   Based on...

The German auto giant Daimler is aiming to conduct a complete overhaul of its Mercedes-Benz brand and to reposition it as a more upmarket and luxury brand.   The strategy adopted by the company to achieve this includes cutting of fixed costs, capital expenditure and expenditure in research...