Business
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Sony, Honda join hands for new EV company
Tokyo: Tech giant Sony and automaker Honda have joined hands to establish a new company that will engage in the sale of high-value-added electric vehicles (EVs) and provide services for mobility. The…
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Ferrari says 60% of its lineup will be electrified by 2026
Maranello (Italy): At an investor presentation, luxury carmaker Ferrari has announced that it will be 60 per cent electrified by 2026. The carmaker said that by 2026 Ferrari targets a well-diversified product…
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Homegrown esports startup FanClash raises $40 mn to go global
New Delhi: Homegrown esports startup FanClash on Friday said it has raised $40 million in its Series B funding to expand its global footprint. Founded in mid-2020, FanClash recently expanded to the…
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Dogecoin crypto investor sues Elon Musk for $258 bn in US
San Francisco: As millions of investors lose their hard-earned money in the global crypto meltdown, an American Dogecoin cryptocurrency investor has sued Elon Musk, Tesla and SpaceX for $258 billion for allegedly…
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Majority of Ford India’s workers continue protest, some resume duty
Chennai: While the majority of Ford India Private Ltd’s about 2,600 workers at its Maraimalai Nagar plant near here are continuing their protest demanding a better severance package, a small group of…
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Rupee recovers from record low, spurts 12 paise to 78.10 per US dollar
Mumbai: The rupee recovered from its record low to close 12 paise higher at 78.10 against the American currency on Thursday, tracking the overnight weakness of the dollar and falling crude oil…
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Reserve Bank of India lifts restrictions on Mastercard
Mumbai: The RBI on Thursday lifted restrictions on Mastercard that it had imposed last year for failing to comply with local data storage norms. The central bank had barred the US-based payment…
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Samsung reduces procurement orders amid inventory pressure: Report
Seoul: Samsung Electronics has reportedly halted new procurement orders for a brief period, telling suppliers to either delay or reduce shipments of components and parts owing to global macro-economic conditions like rising…
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Higher unemployment rate looms in US as Fed fights inflation: WSJ
New York: US Federal Reserve officials are beginning to signal that their efforts to tackle scorching inflation by raising interest rates may lead to higher unemployment, said an article published Monday by…
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Tesla FSD Beta V.11 likely to be ready for wide release soon: Musk
San Francisco: Tech billionaire Elon Musk has estimated that his electric vehicle company Tesla’s full self-driving (FSD) Beta version 11 would be ready for wide release by the summer of 2022. A…
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Vegetable oil imports down by 15% over last year: SEA
New Delhi: Three weeks after Indonesia lifted the export ban, the import of vegetable oils during May 2022 is reported at 10,61,416 tonnes compared to 12,49,648 tonnes in May 2021, i.e., down…
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India inks vision document with Vietnam, to give $500mn defence Line of Credit
New Delhi: Planning to broadbase the “scope and scale” of its defence ties with Vietnam by 2030, India has inked a vision document with the Southeast Asian country. Union Defence Minister Rajnath…
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Just 12% firms utilising AI to outpace their rivals: Report
Bengaluru: Only 12 per cent of organisations that use artificial intelligence (AI) are doing it at a maturity level to achieve a strong competitive advantage while the rest are still experimenting with…
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Sony’s game subscription service PlayStation Plus now in North, South America
San Francisco: Sony Interactive Entertainment (SIE) has launched its all-new PlayStation Plus game subscription service in North and South America, providing more flexibility and value for gaming fans. With the all-new PlayStation…
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Government IT spending in India to reach $9.5 bn this year
New Delhi: The government IT spending in India is likely to reach $9.5 billion in 2022, an increase of 12.1 per cent from last year, a new report said on Monday. Software…
