July 16, 2021 7:05 am
Daimler AG (DAIGn) on Thursday reported preliminary adjusted earnings before interest and tax (EBIT) of EUR 5.42 billion ($6.42 billion) during the second quarter, a result that outstripped the median analyst estimate of EUR 4.3 billion. Daimler’s Mercedes-Benz Car and Van division reported an adjusted EBIT of EUR 3.60 billion during the second quarter, which […]
Read moreJuly 15, 2021 7:12 am
Africa-focused Tullow Oil PLC (TLW) said on Wednesday that it forecast $600 million in full-year operating cash flow, or unchanged compared to 2020, in case the price of oil remains at $60 per barrel on average during the remainder of the year. The company added that its full-year operating cash flow would be $50 million […]
Read moreJuly 14, 2021 9:15 am
United Airlines Holdings Inc (UAL) on Tuesday announced plans to purchase 100 19-seat ES-19 electric jets from Swedish startup company Hart Aerospace. The decision comes at a time when the air carrier seeks to shift to battery-powered aircraft for regional routes. In a publication, United Airlines’ venture funding arm said that it would invest an […]
Read moreJuly 14, 2021 7:01 am
General Motors Co (GM) said on Tuesday that it planned to invest $71 million in the establishment of a new campus in Pasadena, California, as it seeks to bolster its capacity in advanced technologies such as flying cars and lunar rover vehicles. The new campus is to feature an innovation lab and immersive technology capabilities, […]
Read moreJuly 13, 2021 6:34 am
The Securities Services division of J.P. Morgan Chase & Co (JPM) will establish a new Data Solutions business that will bring together several projects already underway at the Wall Street bank, including post-trade analysis services and a new asset management platform, according to a report by Reuters, citing a J.P. Morgan memo. The new business […]
Read moreJuly 12, 2021 7:12 am
Volkswagen AG (VOWG) said last week that it expected an operating profit of nearly EUR 11 billion ($13 billion) during the first half of 2021. The figure would exceed even pre-pandemic levels due to robust demand in Europe and the United States, particularly for premium brands Porsche and Audi as well as for the group’s […]
Read moreJuly 9, 2021 7:08 am
Italy’s Terna said that it would invest a record EUR 18.1 billion ($21 billion) in the country’s power grid over a period of 10 years in order to meet the demands of the energy transition to cleaner sources. The projects in Terna’s new long-term development plan for Italy’s grid are expected to ensure a reduction […]
Read moreJuly 8, 2021 7:11 am
Italy’s Autogrill announced on Wednesday that it was currently not examining any “extraordinary operation”. The announcement followed a report by Italian daily MF, stating that, among a number of options for future growth, the company was exploring a possible partnership with Dufry. “Though Autogrill is always open to assessing any opportunity the market might offer […]
Read moreJuly 7, 2021 9:05 am
Flying taxi startup Volocopter announced on Tuesday the acquisition of its long-time partner DG Flugzeugbau. The acquisition is expected to ensure production organization compliance for Volocopter with the European Union Aviation Safety Agency’s (EASA) standards, in addition to existing EASA design approvals. The company did not disclose any financial details of the agreement. “Volocopter is […]
Read moreJuly 7, 2021 7:46 am
According to a report by Yonhap news agency, citing industry sources, Hyundai Motor Co has acquired a stake in SolidEnergy Systems, a lithium metal battery startup, while investing nearly $100 million. Established almost a decade ago, SolidEnergy Systems (SES) is specialized in development of anode-free lithium metal batteries. Among the company’s shareholders are General Motors […]
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