Sunday Feb 05, 2023

News

  • Healthcare Industry on Consolidation Spree
    The healthcare sector offers a lot of promise for extended reality, a broad phrase that encompasses augmented reality, virtual reality, and mixed reality. AR and VR technology have the potential to significantly improve the healthcare sector, from assisting surgery to assisting telehealth applications. Due to investor interest in virtual care and digital health, as well […]
  • Japan Urges Its Citizens To Drink More Alcohol As Tax Revenues Fall
    Japan is telling its citizens to drink more alcohol. The Japanese government has now launched a nationwide competition calling for ideas to encourage the Japanese people to drink more alcohol. The national tax agency has said that alcohol consumption in Japan apparently has fallen. This has gotten the Japanese government very worried. From an average […]
  • As Russian Energy Supplies Peak Gas Supplies to Germany Will Stop
    European gas prices once again rose to record highs on fears over Russian supply peak. The gas prices have spiked in recent days because of the three-day halt in Russian deliveries to Germany via the Nord Stream 1 continues to approach. The biggest fear is that Moscow will now turn the taps back on afterwards […]
  • A Whistleblower Says That Twitter Misled Regulators on Spam And Hacker Accounts
    A whistleblower complaint has alleged that twitter misled users and authorities about its security against hackers and spam accounts. The whistleblower is Twitter’s former security chief Peter Zatko. Shares of Twitter dropped sharply on Tuesday after the revelation of an explosive whistleblower complaint alleging the social media company misled federal regulators about its defenses against […]
  • Supersonic Passenger Jet Maker Boom’s Order Book Increases To 130 Airplanes
    American Airlines is now betting on the return of supersonic travel with boom jet deal. The American carrier has become second major U.S airline to bet on ultra-fast passenger travel in last two years. The deal brings booms order book to 130 airplanes including options valued at about $26 billion. The return of interest in […]
  • The Cost Of Living Crisis Worsens In UK as Energy Prices Increase
    UK’s energy crisis is all set to worsen the country’s cost of living crisis with winter coming close and an energy price increase due in October inflation levels in the country might break all records. Financial experts at US based Citibank predict the country’s inflation levels will cross 18% in January 2023.  The last time […]
  • How Hino motors is trying to cope with a growing scandal regarding emissions data
    Shares of Japan’s Hino motors Toyota’s truck and bus unit has lumped more than 6%. This after the data falsification scandal widened to small trucks as well. Hino motors president Satoshi said during a transport ministry investigation that there was additional misconduct regarding emissions. It was found that it is affecting more than 76000 vehicles. […]
  • Australian Banks To Stop Giving Loans For New Diesel And Gasoline Cars
    Australia looks to give a new push to electric cars as Australian banks plan to stops giving loans for diesel and gasoline cars as a way to encourage sales of cars that run on alternate fuel.  Australia is trying to encourage the use of electric vehicles and also to catch up with other developed nations. […]
  • Northern Vietnam To Benefit As Foxconn Plans To Invest More Than $300 Million
    Apple’s supplier Foxconn is planning to diversify its production with signing of a $300 million memorandum of understanding with Vietnamese developer Kinh Bac City to expand its facility in the north of the country. The Taiwanese company’s new factory on a plot of 125 acres in Bac Giang province will generate about 30000 local jobs. The […]
  • Flow Gets Pre-Launch Valuation Of $1 Billion
    Around three years after Adam Neuman stepped down as the CEO of We Work following allegations of mismanagement, toxic work culture and the company’s failed IPO. Neuman’s new venture is creating ripples in the Silicon Valley. The start-up in real estate sector is called Flow, is already been valued at a billion dollars making it […]
  • Chinese Automobile Manufacturer Chery To Start Production In Russia
    At a time when many western companies have quit Russia after Ukraine invasion, Chinese companies are planning to expand operations in Russia according to the latest reports. Chinese car maker Chery is in talks with Russian manufacturers about producing cars in Russian plants. Cherry also plans to increase sales from 80000 to 100000 this year […]
  • Sichuan Power Crisis Hits Production for Apple’s Supplier BOE
    Signs of disruption in Apple’s manufacturing are being seen in China’s Apple supplier BOE technology group. BOE group announced it will make adjustments to its operations in Sichuan province in China due to power rationing there in the region. The company said it is in communication with executives and expects there will be no major […]
  • $370 Billion Chinese Technology Giant Tencent Posts First Ever Revenue Decline In History
    The advent of stricter regulations around gaming and resurgence of COVID-19 have resulted into slow growth for Chinese technology companies. After Alibaba another Chinese firm Tencent has posted its first ever quarterly year on year revenue decline. Tencent posted quarterly revenue of $19.7 billion and it’s a 3% fall when compared to same period last […]
  • In Midst Of A Massive Recall Philips Sacks CEO Franz Van Houten
    In the wake of a massive medical device recall Philips CEO Franz van Houten will leave the company in October after a key product recall the Dutch healthcare firm. Philips market value has reduced by more than half over the past year. Philips CEO Franz van Houten will stand down following Tuesday’s announcement. The company […]
  • Record food Insecurity in Sri Lanka
    The economic crisis in Sri Lanka is worsening each day and the situation has turned into a nightmare for its citizens. Markets are out of food, pharmacies are without medicines and petrol stations have no oil. Families are struggling to go a day without facing shortages. It has been estimated that nearly 6.3 million people […]
  • New German Tax on Gas To Support Energy Firms
    The global energy crisis has led the German government to impose a new gas tax on households. The increased rates will be effective from October 1st and last till April 2024. Under the new levy an average family of four is expected to pay an additional $489 a year. Businesses will also be subjected to […]
  • Business Travel Spending Won’t Hit Pre-Pandemic Level Until 2026
    There are still some worrying times ahead for the global travel industry as recovery in global business travel spending to pre-pandemic level is likely to be delayed now by 18 months to 2026. This is because of factors such as persistent inflation, high energy prices, labor shortages and lockdowns in China. This is being said […]
  • As COVID Restrictions Ease China’s July Auto Sales Surge By More Than 30%
    China’s monthly auto sales have surprisingly risen despite COVID-19 related lockdowns still on in some cities. The China association of automobile manufacturers said that auto sales in July surged 29.7% from a year earlier to 2.42 million units. Despite a steep rise of nearly 30% from 2021, the sales figures failed to cross June’s numbers […]
  • Despite The Russian Invasion Mcdonald’s Plans To Reopen Some Branches In Ukraine
    The world’s biggest burger chain McDonalds’s had shut all its outlets in Russia and Ukraine following the Russia’s invasion of Ukraine. In a recent development, the company has announced its plans on reopening its restaurants in Ukraine over the next few months.  This could be an early indication of western businesses returning to the country […]
  • Four African Countries Hit by Rotavirus Vaccine Shortage
    After disruptions at drugmaker GSK, African countries of Kenya, Tanzania, Senegal and Cameroon have run out of vaccines to prevent deadly rotavirus infection in children. According to the World health organization, approximately 200,000 children die each year due to rotavirus infections which are the leading cause of severe dehydrating gastroenteritis in children under the age […]
  • U.S. Invests Billions to Compete with China Over Microchips
    Amid a global shortage of microchips, U.S. president Joe Biden on Tuesday signed into law a multi-billion dollar bill to boost domestic production of semiconductors and research. This law will hope to counter fears that the country is losing its technological edge to China. The Chips and Science Act. provides around $52 billion to promote […]
  • Relief for China as Exports Gain Steam
    China’s economy after being bruised by COVID led lockdowns, China’s export growth unexpectedly picked up speed last month. This comes as a relief also for the world’s second largest economy that is trying to gain some momentum now. Data shows China’s exports were up 18% in July to US$333 billion from last year at a […]
  • Ford Motors Sanand Plant bought by Tata Motors for $91.5 Million
    U.S automobile major Ford motors is shutting down operations in India and has sold its manufacturing plant in Sanand, Gujarat to Tata Motors. The deal is agreed for $ 91.5 million between Ford motors and Tata motors subsidiary Tata passenger electric mobility. It covers land assets and all eligible employees as well. Indian car maker […]
  • Saudi Arabia Launces and Shares The Designs Of The Line, The City Of The Future
    Saudi Arabia is looking to create a city which will surpass all science fiction fantasies. Climate change problem is a serious problem and this fact is even acknowledged by Saudi Arabia which is a major oil producing and exporting nation. A futuristic carbon neutral city called the line with no cars and floating elevators is […]
  • Covid -19 Strict Lockdowns In China Causes Alibaba’s Growth To Stall
    Strict Covid-19 measures have started to affect the revenues of its technology firms now. E-commerce giant Alibaba group has reported flat quarterly revenue growth for the first in its history. Chinese e-commerce giant has enjoyed double digit revenue growth almost every quarter since it went public in 2014. The prospects of Alibaba group were hurt […]
  • Amid Asia’s Rebound Saudi Aramco Raised Oil Prices More Than Expected
    Preempting the global demand revival in Asia, the world’s largest crude oil exporter Saudi Arabia has raised oil for it biggest market of Asia. The rise in price is more than expected on account of demand coming back in major economies including china where Covid-19 restrictions have been eased. Saudi Aramco raised its key Arab […]
  • French App Developers Sue Apple For Overcharging On App Store
    Apple, the makers of iPhone are in fresh trouble in Europe once again. This time Apple has been sued by French app developers who have accused Apple of violating U.S. anti-trust laws by overcharging on usage of its app store. The plaintiff is a French content developing company, its subsidiaries and an association of French […]
  • Airbus Terminates Remaining A350 Jetliner Deal With Qatar Airways
    Europe based airplane manufacturer Airbus has revoked its entire outstanding order from Qatar Airways for A350 jets. With this Airbus has severed all remaining new jetliner business with the gulf carrier. Analysts call it a dramatic new twist to a safety and contractual dispute. Qatar Airways sued Airbus over faulty design and later on half […]
  • Has AI Solved One of Biology’s Biggest Challenges?
    Proteins are among the most important molecules in any living organisms. They are designed to perform particular functions in the body like transporting nutrients, blocking pathogens etc. They are essential for life and are made up of smaller units called amino acids arranged in a string structure. There are 20 possible amino acids to choose […]
  • New Proposed Bill In U.S. Inflation Reduction Act Could Boost Funding For Climate Technology
    Climate and energy projects could see $370 billion in fresh funding because of a proposed bill by Senate democrats called the Inflation reduction Act which revises the tax code and reduces the drug prices. In this new proposed bill there is going to be more technology investment and more direct procurement of green technology by […]
  • Losses Piling Up for Softbank’s Vision Fund 2
    The CEO of Softbank Masayoshi Son is well known figure in start-up investing. SoftBank’s first vison fund poured billions of dollars in tech companies. However, some of Son’s bets turned out to be massive failures that cost investors a lot of money. For SoftBank’s vision fund 2 Son said that he would be more restrained […]
  • French Nuclear Energy Group EDF Records Big Loss Ahead Of Renationalisation
    French Energy Company EDF posted record loss of 5.3 billion Euros. EDF produces nuclear power and is largely owned by the state. EDF said last week that they faced a loss of more than 5 billion Euros in the first half of the year. One of the problems which EDF faced was an unexpected corrosion […]
  • Apple Seeks To Capture The Vehicle Software Market With New Version Of Carplay
    Apple recently unveiled the latest version of its car software Apple CarPlay. This software allows the driver to connect his/her phone to the car so the driver can listen to map directions on the stereo and see the music and maps on the screen.  The new version will let the Apple’s operating system take over the […]
  • Find Out Why China Is Facing Its Biggest Overseas Debt Crisis ?
    China is now a bigger lender than the International Monetary fund, the World Bank and all members of the Paris club put together. China is seeing its first overseas debt crisis as so many of its overseas projects have failed. To countries such as Nigeria, Turkey, Ukraine, Pakistan, Sri Lanka, Argentina, Belarus, Egypt and Mongolia, […]
  • Western Countries Ease Oil Restrictions On Russia As Inflation And Energy Fears Grow
    The global energy crisis is forcing western powers to ease back on their efforts to limit Russian oil trading. The United Kingdom has delayed the plan for coordinated ban with the European Union for providing insurance for vessels carrying Russian oil. This is due to fears of imposing immediate worldwide restrictions would cause crude oil […]
  • Vaccine And Anti-Viral Drug Manufacturers See A Surge In Share Prices Following WHO Declaring Monkeypox A Global Health Emergency
    Monkeypox has been declared a global health emergency by the world health organization last week. Many health experts around the world have feared this virus for a long time now. According the Economic times, there have been more than 21000 cases worldwide in more than 80 countries so far. Furthermore, nearly 80 people have succumbed […]
  • Why heavy industries in EU have little choice but to forge ahead with green hydrogen
    Heavy industries around the world have begun harnessing hydrogen to reduce its carbon footprint. ArcelorMittal the world’s second largest steelmaker tested the use of green hydrogen to reduce iron ore in Canada successfully. Green hydrogen was used instead of natural gas. Steel industry is highly carbon intensive and it accounts for 7% to 9% of […]
  • IMF slashes global growth forecasts amid Russia-Ukraine war and high inflation
    In a major new update, the international monetary fund (IMF) has cut its global growth forecasts for the year 2022 and 2023 further warning of a possible worldwide recession. According to the IMF, the two factors that have contributed to a slow economic growth are the Ukraine war and the downside risks of high inflation. […]
  • Credit Suisse Name a New CEO Following Succession of Banking Scandals
    Credit Suisse CEO Thomas Gottstein is set to leave the bank. His departure marks the end of the tumultuous period in the banks history. This change comes at peculiar time but Credit Suisse has found a replacement. Ulrich Koerner is going to step in as replacement CEO. He is the head of the asset management […]
  • Russia Further Cuts Natural Gas to Europe via Nord Stream 1
    The amount of natural gas flowing through the major pipeline from Russia to Europe has been halved by Gazprom. The total gas flowing in the pipeline is 20% of capacity. This is the latest reduction in Nord Stream1 pipeline and Russians blame technical problems are causing this reduction whereas Germany says that this is a […]
  • Eutelsat and OneWeb Combine Their Satellite Fleet in a $3.4 Billion Deal
    French satellite operator Eutelsat has confirmed that it is in merger talks with British rival OneWeb. The idea of these two companies combining is to better compete against bigger players in the space industry such as Elon Musk’s SpaceX. For Eutelsat this potential merger gives them the opportunity to acquire interesting technology to transform them […]
  • Why Cities are Especially Vulnerable to Record High Temperatures ?
    This year the summer season has been really hot. All over the world there have been record high temperature leading to wildfires and heat evacuations. The hottest places surprisingly have been cities because of phenomenon called the ‘urban heat island effect’. The urban heat island effect is a phenomenon by which all the very hard […]
  • Amazon is Making a New Push into Medical Services
    Last week Amazon announced plans to buy One Life Healthcare which operates primary healthcare practice under the name of ‘One medical’ across major cities in the U.S. This is not Amazon’s first foray into medical space; in 2019 it launched Amazon care. Originally this was meant to be a service for Amazon employees in Washington […]
  • How The Food Delivery Industry is Grappling With The First Slowdown It Has Encountered
    The last two years were really good for food delivery companies. The demand was high as people stayed home and revenues increased as more and more customers signed up. However, as the economy slows down and inflation soars, the best of times may be over for some delivery giants. According to market analysts, the total […]
  • Find Out Whether TikTok and Instagram Can Pose a Serious Threat to Google
    Social media is evolving quite evidently; firstly Google is concerned about a possible takeover by TikTok and Instagram. According to internal Google findings cited by TechCrunch, roughly 40% of people aged 16 to 25 preferred searching on Instagram over Google search and maps. Over the past several years, TikTok has been the fastest growing social […]
  • Despite of Multiple Production Delays Tesla Posts Solid Growth
    Tesla announced this week that its second quarter revenue rose 42% over last year. Tesla also announced nearly 60% jump in adjusted earnings per share.  These numbers come despite production disruptions in China because of the COVID lockdown and high costs associated with new production plants in Texas and Germany. Tesla sales are really strong […]
  • Midsize Chinese Venture Capital firms are scrambling for cash as foreign investors want to cash out
    Investors all over the world have invested a lot of money in Chinese venture capital firms and this has helped in funding many tech start-ups. But now all the pension funds, sovereign bond funds are pulling back from China as they are worried about Chinese government’s crack downs on tech startups, more COVID lockdowns and […]
  • Apple Inc. on Russia’s Competition Authority’s List for Violating Anti-Trust Laws
    The Federal anti-monopoly service (FAS) which is Russia’s competition authority said that it would fine US tech giant Apple for violating of Russia’s antitrust laws and abusing its dominant position in the iOS app distribution market. FAS said that the size of the fine would be determined during the course of an administrative investigation and […]
  • China’s Real Estate Headed for a Crash Amid Mortgage Boycotts
    It was reported in China that the Chinese’s property prices fell for the 10th consecutive month highlighting the country’s spiraling real estate crisis and how the government’s efforts to revive the markets are failing. The China’s National bureau of Statistics reported that new home sales fell from a year earlier in 70 cities. There is […]
  • General Electric Splits into Three New Companies; Healthcare, Aviation and Vernova
    General Electric has witnessed a historic split of its organization and they have now revealed the new names of the three companies. These three new companies will operate independently under separate management. They had earlier announced this split in November 2022 and these companies will be focused in three domains namely aviation, health care and […]
  • Electric Vehicles Demand Continue to Accelerate Despite of Multiple Economic and Supply Chain Challenges
    As demand accelerates in most major markets globally, electric vehicles sales could reach 33% of total sales by 2028 and 54% by 2035. Consultants have estimated that electric vehicles accounted for less than 8% of global sales last year and fewer than 10% in the first quarter of this year. Moreover, electric vehicle sales are […]
  • Global Inflation Woes Continue as New Zealand’s Inflation Rates Highest in Three Decades
    The high inflation rates around the world do not seem like coming down any time soon. The current data from New Zealand where the inflation has touched a three decade high is beating forecasts. Most experts are expecting the Central bank of New Zealand to increase rates by 50 basis points. Consumer Price Index (CPI) […]
  • European Markets on the Edge of Collapse Following Italian PM Mario Draghi’s Resignation
    Italian politics is seeing a lot of turmoil recently with Italian PM Mario Draghi offered to resign on Thursday after political opponents refused to work with him. The President of Italy has rejected the resignation and asked Mario Draghi to communicate with the Parliament on Wednesday next week. There’s going to be lot of behind […]
  • How Celsius an Energy Drink with Triple Digit Growth Competes with Red Bull and Monster
    Celsius has managed to grow in last three years and it has annual revenue of $400 million when compared to Red bull and monster which are the market leaders in the energy drinks.  Celsius also claims that it burns body fat. Traditional energy drinks like Red bull and monster have caffeine, sugar and vitamins b6 […]
  • How Digital Health Startups in US are Protecting User’s Privacy Following Roe vs Wade Ruling
    Developers of apps that track user periods and fertility are working to anonymize user data in response to US supreme courts overturning of Roe vs Wade last month which struck down the constitutional right to an abortion.  Millions of people use services like Flo, Clue and Apple’s Health app to help them become pregnant, avoid […]
  • How Companies are Trying to Reduce Their Carbon Footprint By Using Carbon Capture Technology?
    Estimates range from $300 billion to $50 trillion of investments is needed in the next 20 years to control climate change. Recently, Tata group made an announcement stating that Tata Chemicals Europe had  set up UK’s very first industrial scale carbon capture plant. This isn’t Tata’s first project using this technology, a year ago Tata […]
  • In a Move Away from Cigarettes Philip Morris Recruits FDA Veteran
    Philip Morris has named Keagan Leniham who is a former government, corporate and public policymaker as the head of its Washington D.C. office. This is one of Philp Morris’s moves away from tobacco business. She has been appointed as the vice president of government affairs. She will join from Altoida, which is a medical device […]
  • Never Changing Traditional Pharma Sales & Marketing Approaches Will Eventually Destroy Companies
    Sales and marketing strategies currently implemented by pharmaceutical companies needs a drastic change. Most of the new drug launches over the past three years have underperformed and have resulted in big losses for pharma companies. It is reported that 62% of drug launches between time period of September 2019 and December 2021 have underperformed according […]
  • Why Google Continues to Invest in India’s Telecom Providers
    In July 2020, Google made an investment of $10 billion in India’s digitalization fund and they promised to use this money within the next 5 to 7 years. Google had their own reasons to do this, after all a digital India means more people using the internet. In India the internet user base is more […]
  • Beating The Global Chip Shortage– The Tesla way
    The automobile manufacturing industry is undergoing a dramatic change in managing their supply chain needs. The impact of the global pandemic and the growing shift of consumer demand to electric vehicles are added complexities to an already competitive global market. The modern day car maker is also supposed to integrate latest technologies such as voice […]
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