The Frankfurt state prosecutor's office announced earlier this week that police raided Hyundai and Kia over allegations that they put over 210,000 diesel vehicles on the road with suspected illegal defeat devices.   The announcement pushed shares of the two South Korean automakers down more...

Novartis has issued a warning that a previously announced reorganisation initiative might result in the elimination of 8,000 positions, or approximately 7.4 per cent of its global workforce, including up to 1,400 in Switzerland.   The job losses, which were originally estimated by Chief...

The EU agreement of phasing out combustion engine automobiles in just over 12 years is difficult, but a more formidable challenge will be producing enough batteries to power the electric cars required as a result, according to a senior Volkswagen executive on Wednesday.   The remark...

H&M has closed its main Shanghai shop, the fast-fashion brand's fourth closure in China, where consumer demand has fallen due to COVID-19 lockdowns and the fast-fashion retailer has bore the brunt of a backlash against companies that refuse to use Xinjiang cotton.   Despite having opened...

The latest in a run of cyber heists on a sector long targeted by hackers, U.S. crypto company Harmony announced on Friday that criminals took about $100 million worth of digital currency from one of its core products.   Harmony creates blockchains for decentralised finance - peer-to-peer...

Celsius Network LLC has hired restructuring advisors from Alvarez & Marsal to assist on a prospective bankruptcy file, according to the Wall Street Journal, citing people familiar with the case.   The bitcoin lending company based in New Jersey banned withdrawals and transfers earlier...

Barclays has agreed to buy specialty lender Kensington Mortgage Company for approximately 2.3 billion pounds ($2.8 billion), expanding its presence in the UK property sector.   The acquisition is one of Barclays' largest recent investments and a significant gamble on the real estate market....

Twitter is testing a new feature that will allow users to share "notes" of up to 2,500 words. Normally, posts on the social media site are limited to 280 characters.   Twitter stated that the change was made in response to people using the platform to share images of longer announcements and...

Tesla Inc's new car facilities in Texas and Berlin are "losing billions of dollars" as they struggle to raise production due to a battery shortage and China port concerns, according to Chief Executive Elon Musk in an interview published on Wednesday.   "Both Berlin and Austin factories are...

Nike, the world's largest sportswear corporation, announced its entire pullout from Russia on Thursday, three months after stopping operations there.   Nike announced on March 3 that it will temporarily close all of its Nike-owned and -operated stores in Russia in response to Moscow's...

Sony and Honda Motor of Japan have officially agreed to form an evenly owned joint company that will begin selling electric vehicles in 2025.   Honda, like its larger rival Toyota Motor, has been slower to transition to electric vehicles (EV) than other global manufacturers and is under...