March 16, 2022 8:47 am
Ford Motor Co (F) said earlier this week its Turkish joint venture would acquire the auto maker’s Craiova facility in Romania for EUR 575 million and eventually move Courier van production there. The acquisition is expected to be finalized in the third quarter, Ford said. Ford manufactures Puma and EcoSport passenger models at its Romania-based […]
Read moreMarch 14, 2022 11:14 am
YouTube said last week that it would impose a ban on Russian state-funded media channels globally. Russian state media has been publishing articles and coverage that depicted Ukraine as an aggressor and a nuclear threat since before Russia’s military forces invaded the country in late February. Previously, YouTube had blocked media channels such as RT […]
Read moreMarch 11, 2022 11:41 am
Volvo Car Group (VOLCARb) said on Friday that it intended to set up a tech hub in Sweden’s capital of Stockholm in an attempt to achieve its objective to sell at least half of its vehicles online. The new facility will host more than 700 employees with skills in fields such as data science, software […]
Read moreMarch 10, 2022 1:22 pm
Sony Group Corp’s (6758) gaming unit and Nintendo Co Ltd (7974) said earlier this week they had halted shipments of software and hardware to Russia after its incursion into Ukraine. Sony Interactive Entertainment, the manufacturer of the PlayStation 5 gaming console, announced the suspension of “Gran Turismo 7” racing game’s launch and PlayStation Store operations […]
Read moreMarch 9, 2022 10:15 am
The China Passenger Car Association said earlier this week Tesla Inc (TSLA) had sold 56,515 China-produced vehicles in February. That followed 59,845 China-made vehicles sold in January. Tesla is manufacturing Model 3 sedans and Model Y Sport-utility vehicles at its Shanghai facility. The CPCA said China-based passenger car sales totaled 1.27 million units in February, […]
Read moreMarch 9, 2022 8:11 am
Boeing Co (BA) said earlier this week it had halted titanium purchases from Russia. “Boeing has a significant stock of titanium, in particular thanks to Boeing’s initiative for the creation of a pool of suppliers around the world that has been underway for several years. Boeing has currently suspended titanium purchases from Russia. Titanium stocks […]
Read moreMarch 8, 2022 7:05 am
Visa (V) and Mastercard (MA) said in separate statements that they had suspended operations in Russia due to Moscow’s decision to invade Ukraine. Visa said that, effective immediately, it would work with its clients and partners within Russia to discontinue all transactions over the upcoming days. Meanwhile, Mastercard’s decision follows the company’s recent action to […]
Read moreMarch 7, 2022 7:52 am
Sony Corp (6758) and Honda Motor Co Ltd. (7267) announced last week they had formed a partnership with the aim to develop and sell battery-powered electric vehicles. In a statement, the two Japanese companies said they would establish a joint venture later in 2022 with the intention to start selling the first EV model in […]
Read moreMarch 4, 2022 8:05 am
MarketAxess Holdings Inc (MKTX), the operator of a leading electronic trading platform for fixed-income securities and the provider of market data and post-trade services for the global fixed-income markets, reported on Thursday a 17% year-on-year increase in its February trading volume to $716.8 billion. That result was driven by a 29% year-on-year surge in rates […]
Read moreMarch 2, 2022 10:24 am
Volkswagen AG (VOWG) warned on Tuesday that production cuts were very likely at some of its plants, including the one it has in Wolfsburg, since deliveries from its suppliers in Ukraine have been obstructed following Russia’s military assault. As a result, Volkswagen will probably not be able to produce at its Wolfsburg facility during the […]
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