Companies


    • Stellantis vows to invest €30bn in EVs

      Stellantis vows to invest €30bn in EVs

      The car production conglomerate Stellantis announced it would invest €30bn in electric vehicles by the end of 2021. The company earmarked a target to make the total cost of owning an electric vehicle equal to that of a petrol-driven model by 2026, BBC elaborated. Stellantis said it would build at least five battery plants across Europe and in US to implement its strategy. It has already announced two plants in France and Germany, and the third will be in Italy.

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    • Danske Bank eyes $1.9bn 2021 net profit on pandemic recovery

      Danske Bank eyes $1.9bn 2021 net profit on pandemic recovery

      The biggest Danish bank Danske announced surging net profits with 2021 annual result seen at nearly two billion dollars. Danske posted the encouraging results on the back of pandemic economic recovery which improved the prospects of the whole financial sector, Reuters elaborated. Danske said it benefited from an increase in customer activity and a restart in active lending.

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    • Pentagon scraps $10bn deal with Microsoft

      Pentagon scraps $10bn deal with Microsoft

      US Defense department announced it canceled a lucrative 10 billion dollars worth cloud deal that was awarded to Microsoft by the administration of the previous President Donald Trump. The Pentagon confirmed that the framework of the JEDI cloud-computing project will be redrawn and some new players including Amazon will be included, Reuters elaborated.

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    • Tesla output rises amid higher prices, chip shortages

      Tesla output rises amid higher prices, chip shortages

      The output of the electric car maker Tesla surged in the second quarter to top 200,000 units. The volume exceeds twice the results posted in 2020, CNN reported. The car maker dismissed higher prices of inputs as well as reputation difficulties in China and a shortage of semiconductor chips to stay on track its original 2021 output plans.

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    • British Airways settles claims over 2018 data leak

      British Airways settles claims over 2018 data leak

      UK flagship carrier British Airways announced it had reached agreements with victims of data breach in the company's servers in 2018. All who claimed damages from the leak will be individually compensated. The overall volume of the agreed payments will not be disclosed, Reuters elaborated.

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    • Samsung Q2 profit spikes to $10bn

      Samsung Q2 profit spikes to $10bn

      The South Korean electronics conglomerate Samsung announced a 38% surge to $10 billion in operating profits as chips price rose and consumer and demand recovered from the Covid-19 economic downturn. The recovered investments in data centres also spurred the business activity of Samsung, Reuters reported.

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    • US Q2 car sales surge on strong SUV, EVs demand

      US Q2 car sales surge on strong SUV, EVs demand

      Carmakers posted record earnings from sales in US market in the second quarter as demand for SUVs and electric vehicles soared and manufacturers sold more units although they hiked the prices, Reuters reported. Robust sales were due to the post-Covid-19 economic recovery, coupled by low interest rates on credits. The consumer trend shows steady increase in demand for more expensive cars and a lot of carmakers are pushing forwards to introducing new models of electric vehicles.

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