August 25, 2021 9:47 am
A.P. Moller-Maersk announced earlier this week the order of eight new tankers powered by carbon-neutral methanol, as it seeks to speed up its fleet’s decarbonisation initiative. These vessels will be manufactured by Hyundai Heavy Industries and will have the capacity to carry 16,000 containers. Every tanker will have a cost of about $175 million, which […]
Read moreAugust 25, 2021 7:45 am
Volvo Cars announced plans to pause production at its facility in Torslanda, on the outskirts of Gothenburg, during the upcoming week because of the shortage of semiconductor chips. “Due to the current material shortage situation, triggered by a combination of global semiconductor shortages and new COVID-19 outbreaks, Volvo Cars has decided to pause production in […]
Read moreAugust 24, 2021 7:36 am
Pfizer Inc (PFE) said on Monday that it had agreed to buy oncology biotechnology company Trillium Therapeutics in a deal valued at nearly $2.3 billion, as the US drug maker looks to bolster its arsenal of blood cancer therapies. Pfizer intends to acquire all the outstanding shares of Trillium Therapeutics at a price of $18.50 […]
Read moreAugust 23, 2021 7:34 am
Marks & Spencer on Friday revised up its profit outlook after a surge in demand for food and an increase in online clothes’ orders provided indication that the British retailer’s latest turnaround plan was beginning to pay off. Thanks to efforts aimed to improve the quality of products and solid investment initiatives in technology and […]
Read moreAugust 20, 2021 8:07 am
Volkswagen AG (VOWG) said on Thursday that it might need to reduce production further because of a global semiconductor shortage. “We currently expect supply of chips in the third quarter to be very volatile and tight,” the German auto maker was quoted as saying by Reuters. “We can’t rule out further changes to production.” The […]
Read moreAugust 19, 2021 7:13 am
Geely Automobile Holdings on Wednesday maintained its annual sales target as it bet on new product launches. However, the company warned that its near-term performance would be affected by a global chip shortage and resurgent COVID-19 infections. Geely reported a 22% year-on-year surge to 45 billion yuan ($6.94 billion) in its six-month revenue to June […]
Read moreAugust 18, 2021 9:03 am
Germany’s financial agency said earlier this week that the government intended to sell up to a quarter of its 20% stake in Lufthansa during the upcoming weeks, as it cited the positive developments at the previously bailed out air carrier. This 20% state stake was obtained for as much as EUR 300 million, as part […]
Read moreAugust 18, 2021 7:44 am
Aldi said earlier this week that it intended to hire more than 20,000 new workers and increase their pay in the United States in preparation for the busy holiday season. The grocery chain said that its average national starting wages for store and warehouse workers had been raised to $15 and $19 per hour respectively. […]
Read moreAugust 17, 2021 6:31 am
BHP said it was currently negotiating a merger of its oil and gas business with Australia’s Woodside Petroleum. A potential deal would create the largest upstream producer in the country with output of more than 500,000 barrels per day of oil equivalent. BHP said on Monday that it had begun a strategic review of its […]
Read moreAugust 16, 2021 9:30 am
Tesla Inc’s (TSLA) Chief Executive Officer Elon Musk said last week that the company hoped to manufacture the first vehicles at its “gigafactory” in Gruenheide, near Berlin, in October. The US electric car maker has pushed back the expected opening of the German gigafactory to late 2021 due to local bureaucratic hurdles. “We’re looking forward […]
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