July 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 […]
Read moreJuly 6, 2021 6:45 am
According to a report by Reuters, citing a Citigroup Inc (C) internal memo, the bank intends to raise the base salaries of its junior investment bankers. According to the memo, dated July 2nd, the pay raises for program vice-presidents, associates and analysts in Citi’s banking, capital markets and advisory division will take effect from July […]
Read moreJuly 5, 2021 6:25 am
Raytheon Technologies Corp (RTX) announced last week that it had been awarded a $2 billion contract by the US Air Force in relation with development and manufacturing of a nuclear-armed cruise missile. The company also said that the long-range standoff weapon (LRSO) would be produced in Tucson, Arizona, and would probably be completed in February […]
Read moreJuly 2, 2021 7:04 am
Boeing Co (BA) said this week that it had appointed former General Electric executive Brian West as its new Chief Financial Officer, effective August 27th. Previously, West served as CFO of General Electric’s aviation and engine services businesses. West and Boeing’s Chief Executive Officer David Calhoun had previously worked together at General Electric. West spent […]
Read moreJuly 1, 2021 7:11 am
Twitter Inc (TWTR) said earlier this week that it had appointed Sarah Personette as its new chief customer officer, effective August 1st. She is to head the social media platform’s global ad sales, global content partnerships as well as revenue operations. Personette, who currently serves as vice president of global client solutions, is expected to […]
Read moreJune 30, 2021 9:04 am
Ford Motor Co (F) said earlier this week that its financial services arm, Ford Credit, would draw gradually to a close its operations in Brazil and Argentina. The company expects to take a non-cash charge of up to $375 million, it said. “The charges will primarily be non-cash, including up to $365 million of foreign […]
Read moreJune 30, 2021 7:32 am
Renault SA (RENA) said earlier this week that it had inked partnerships with China’s Envision AESC and France’s Verkor, aiming to manufacture electric vehicle batteries at the Douai facility in northern France. The French auto maker also said it had signed a memorandum of understanding with start-up company Verkor to co-develop and produce high-performance batteries. […]
Read moreJune 28, 2021 7:35 am
Panasonic Corp (6752) has sold its stake in Tesla Inc (TSLA) for about $3.6 billion during the fiscal year ending in March, AFP reported last week, citing Yayoi Watanabe, a spokesperson for the Japanese company. The announcement comes at a time, when the conglomerate seeks to become less dependent on Tesla and to raise cash […]
Read moreJune 23, 2021 9:15 am
BMW intends to reduce production costs significantly by the middle of the decade, as it seeks to better compete with rivals such as Volkswagen, Daimler and Tesla. “We will lower the production costs per vehicle by 25 percent by 2025 compared with the level in 2019,” Milan Nedeljkovic, BMW’s board member in charge of production, […]
Read moreJune 23, 2021 7:46 am
American Airlines Group (AAL) said earlier this week that it would cut roughly 1% of its July flights in order to serve a surprisingly strong rebound in air travel demand at a time when the company faces challenges such as unprecedented weather and labor shortages. “(We) feel these schedule adjustments will help ensure we can […]
Read more