May 20, 2023 12:51 pm
Merrill, the investment and wealth management arm of Bank of America Corp, on Friday announced changes in leadership across divisions. Greg McGauley, who joined Merrill almost three decades ago, has been appointed as the head of private wealth management internationally. At Merrill, McGauley has been in a number of senior roles, including head of private […]
Read moreMay 18, 2023 9:21 am
According to a report by Reuters, citing an internal memo from Volkswagen brand chief Thomas Schaefer, the auto maker intends to overhaul its core brand in an attempt to bolster efficiency and returns. “We can see that our brand – despite all its strengths – is not yet on a sufficiently solid economic footing,” Volkswagen’s […]
Read moreMay 17, 2023 10:41 am
Shell Plc said on Wednesday that it would take advantage of AI technology provided by big-data analytics company SparkCognition in its deep sea exploration and production. The AI algorithms by SparkCognition will process and analyze huge amounts of seismic data in the search for undiscovered oil reservoirs, the companies said. The objective is to bolster […]
Read moreMay 17, 2023 8:54 am
Mercedes-Benz’s van unit said this week it planned a new, scalable platform for its electric vans, which will enable it to cut fixed costs by 20% by the middle of the decade. Mercedes’ van unit expects electric vans to account for about 20% of total sales by 2026. It also projects double-digit margins on zero-emission […]
Read moreMay 15, 2023 9:28 am
Analog Devices Inc (ADI) said on Monday that it would invest EUR 630 million at its European regional headquarters in the Raheen Business Park in Limerick, Ireland. The investment encompasses the construction of a new 45,000 square-feet Research & Development and manufacturing facility, which will support the company’s development of next-generation signal processing innovations designed […]
Read moreMay 14, 2023 1:41 pm
According to a report by Reuters, citing sources with knowledge of the matter, Virgin Orbit intends to push back the deadline for prospective bidders to acquire its assets by several days. According to one source, the delayed process was “about ironing out some details and giving more time to get deals done.” Virgin Orbit sends […]
Read moreMay 13, 2023 2:02 pm
According to a report by the Handelsblatt daily on Friday, German arms maker Rheinmetall has established a joint venture with Ukrainian state-owned conglomerate Ukroboronprom. The JV will be focused on the construction, maintenance and repair of armored vehicles in Ukraine, Handelsblatt reported. The German company will have a majority stake of 51% in the joint […]
Read moreMay 12, 2023 9:19 am
According to China’s State Administration for Market Regulation, Tesla Inc will recall as many as 1,104,622 vehicles, both produced in China and imported from abroad. The Chinese market regulator said that the recall would cover imported Model S, Model X, Model 3 along with China-made Model 3 and Model Y. The recall, which will take […]
Read moreMay 11, 2023 10:57 am
Boeing Co said this week it had been awarded a $216.035 million modification to previously awarded indefinite-delivery/indefinite-quantity contract FA8526-21-D-0001 for C-17 Globemaster landing gear spares management services. The contract focuses on Foreign Military Sales to the United Kingdom, Australia, Canada, NATO Airlift Management Program Office, India, Kuwait, United Arab Emirates as well as Qatar. Work […]
Read moreMay 11, 2023 8:21 am
General Motors Co intends to consolidate its North America sales operations for commercial vehicles, parts and telematics services under a new brand, GM Envolve. The latter is to compete with Ford Motor Co’s Ford Pro unit along with other brands for revenue from business vehicle fleets, Reuters reported. According to company executives, the reorganization seeks […]
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