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Honda to develop Level 3 self-driving technology by end of decade

December 1, 2022 10:45 am
Honda Motor Co Ltd said earlier this week it would develop technology, which will allow its Level 3 self-driving solution to operate at any speed below legal limits on highways by the end of this decade. Level 3 is also known as conditional driving automation. It uses technology allowing drivers to engage in certain activities […] Read more

National Bank of Canada posts lower quarterly earnings as provisions rise

December 1, 2022 8:15 am
National Bank of Canada, the sixth-largest lender in the country, on Wednesday reported a drop in profit for its fiscal fourth quarter, since the bank set aside higher provisions in the face of a recession. National Bank of Canada reported CAD 87 million in provisions for the three months ended on October 31st, up from […] Read more

Hennes & Mauritz to cut 1,500 jobs as part of a cost-saving plan

November 30, 2022 12:35 pm
Swedish fashion retailer Hennes & Mauritz said on Wednesday that it expected to cut 1,500 jobs as part of its cost-saving program it had announced in September. As a result, the company expects to take a restructuring charge of a bit over SEK 800 million in its fiscal fourth quarter, which runs from September 1st […] Read more

ExteNet Systems, T-Mobile announce partnership expansion

November 30, 2022 9:30 am
ExteNet Systems, a leading privately held owner of LTE/5G wireless and fiber neutral-host communications infrastructure, and T-Mobile on Tuesday announced an exclusive agreement, under which ExteNet will deploy digital wireless infrastructure in large sports, entertainment, hospitality and transportation venues. This agreement expands ExteNet’s existing partnership with T-Mobile as a primary wireless carrier in its contracted […] Read more

Lavazza to acquire French coffee seller MaxiCoffee

November 29, 2022 11:37 am
Coffee maker Lavazza has made a binding offer to buy France’s MaxiCoffee, it said on Monday, as it seeks to bolster its presence in the second-largest European economy as well as in e-commerce. “Our strategy is to support the further development of MaxiCoffee, which will maintain its profile as a multi-brand e-commerce platform and remain […] Read more

Bread Financial to offer BNPL products on Versatile Credit’s platform

November 29, 2022 9:00 am
Bread Financial Holdings Inc, a tech-forward financial services company that provides flexible payment, lending and saving solutions, said on Monday that it had formed a partnership with Versatile Credit Inc, a provider of innovative solutions linking bank lenders with consumers who apply for credit in retail stores. Under the tie-up, by using Versatile Credit’s platform, […] Read more

Hyundai, LG Energy to set up two JV battery plants in US, Dailian reports

November 28, 2022 11:29 am
According to a Monday report by the news service Dailian, citing an unidentified source, Hyundai Motor Co and LG Energy Solution Ltd are planning to establish two joint venture battery plants in the United States. The two facilities are expected to be set up in Georgia and each will have an annual capacity of about […] Read more

Ford Motor Co announces recall of 519,000 SUVs in the US

November 24, 2022 12:28 pm
Ford Motor Co, the second-largest auto maker by sales in the US, said on Thursday that it would recall nearly 519,000 sport utility vehicles in the country due to fire risks from possible cracked fuel injectors. The recall will affect Bronco Sport and Escape SUVs equipped with 3 cylinder, 1.5 liter engines, produced between 2020 […] Read more

Richardson Electronics announces global distribution agreement with Gallium Semiconductor

November 24, 2022 8:57 am
Richardson Electronics Ltd (RELL) said on Wednesday it had inked a global distribution deal with Gallium Semiconductor. Headquartered in Singapore, Gallium Semiconductor is an innovative provider of RF Gallium Nitride (GaN) semiconductor solutions for 5G communication networks along with aerospace, defense, industrial, scientific and medical applications. “Gallium Semi’s portfolio of GaN products offer exceptional performance […] Read more

Mazda announces $10.6 billion EV investment plan

November 23, 2022 11:18 am
Mazda Motor Corp (7261) on Tuesday announced a JPY 1.5 trillion ($10.6 billion) investment plan to electrify its fleet and said it was also exploring an investment in battery production. The company revised up its electric vehicle sales target to up to 40% of its total sales worldwide by 2030 from a previous objective of […] Read more