Categories
Business

Elon Musk’s Tesla registers itself in India, but there is ‘no clarity on what Tesla would do here’

Tesla Motors India and Energy Private Limited was incorporated last week with registered offices in Bengaluru. Tesla chief executive Elon Musk tweeted in October about a foray into India. India’s transport minister Nitin Gadkari told local media last month that Tesla would start with sales and then might look at assembly and manufacturing. However, local […]

Categories
Business World

Apple and Hyundai are discussing an electric car partnership

The stock price of Hyundai shot up by more than 20% after reports of a tie-up with Apple in the electric-car segment surfaced. The South Korean car company initially said it was in the “early stage” of talks with the iPhone maker about a possible electric car partnership. But hours later it backtracked and said […]

Categories
Business World

Bitcoin soars past $40,000 for the first time, doubling within 23 days

Bitcoin fell more than 5% on Friday, a day after topping $40,000 for the first time. The world’s most popular digital currency slid to as low as $36,618.36 on Bitstamp exchange, after reaching an all-time high of $40,402.46 in the previous session. Rival cryptocurrency ethereum sank more than 10% to as low as $1,064.89. Bitcoin […]

Categories
Business World

Amazon buys planes from struggling Delta and WestJet to expand its cargo air fleet

American multinational technology company, Amazon, which mainly focuses on e-commerce has bought its first fleet of planes, expanding its growing air freight network. The additional 11 Boeing 767-300 planes would “support Amazon’s growing customer base”, it said. Amazon’s first air operation launched in 2016, but previous planes have been leased. Experts say buying its own […]

Categories
Business World

‘He may be asked to lay low’: Jack Ma’s absence from public view fuels speculation

Alibaba founder Jack Ma’s absence from public view for two months has fueled speculation on social media over his whereabouts amid a Chinese regulatory clampdown on his sprawling business empire. China’s highest-profile entrepreneur has not appeared in a public setting since a late October forum in Shanghai where he blasted China’s regulatory system in a […]

Categories
Business World

Bitcoin hits another high of $38,400 showing no sign of stopping

Bitcoin hit a record high of $38,400 on Sunday as investors continue to bet on the world’s most popular digital currency. The latest milestone comes less than three weeks after it crossed $20,000 for the first time on December 16. The currency surged over 800% since mid-March 2020. With bitcoin’s supply capped at 21 million, […]

Categories
Business World

New York Stock Exchange begins process to delist Chinese telecom companies

The New York Stock Exchange (NYSE) will delist three of China’s telecommunication companies in a fresh attack against Chinese firms. China Mobile, China Telecom and China Unicom Hong Kong have all been targeted by the Trump administration. Shares in the telecoms giants will be suspended on the NYSE next week while proceedings to delist them […]

Categories
Business

Tata Group increases holding in struggling AirAsia India

The Tata Group increased its holding in AirAsia India from 51% to 84% on Tuesday as its Malaysian parent company was scaling back operations amid the Covid pandemic. Tata also put in a bid for the country’s struggling national carrier Air India. Tata Group is paying AirAsia around USD $38 million for the increased stake […]

Categories
Business World

Boeing’s 737 MAX resumes passenger flights in the United States 20 months after safety ban

Boeing’s 737 MAX resumed passenger flights in the United States for the first time on Tuesday after a 20-month safety ban was lifted last month. American Airlines Flight 718 departed Miami for New York’s LaGuardia Airport. American Airlines and plane maker Boeing have sought to reassure the public over the plane’s safety after it was […]

Categories
Business

Bitcoin surpasses $28,000 mark and $500 billion market value as it shows no sign of stopping

Bitcoin surpassed the $28,000 mark as it shows no sign of stopping. The digital currency has a market value over USD$ 500 billion. It’s worth more than Visa or Mastercard or Walmart. Bitcoin passed the $20,000 mark or the first time just 11 days ago. Now inching towards $30,000. Investors are pouring money into bitcoin […]

Categories
Business World

China’s billionaire gaming tycoon Lin Qi poisoned to death by colleague

The chairman and chief executive of games developer Yoozoo, Lin Qi, 39, best known for the Game of Thrones: Winter Is Coming strategy game was poisoned to death, Shanghai police said. In a statement the police said  Lin’s colleagues identified Xu Yao as the main suspect, who heads Yoozoo’s movie production arm. Local media said Mr […]

Categories
Business Social Media Reactions

Elon Musk offered to sell Tesla to Apple for 1/10 of its value around 2017

Billionaire Elon Musk has revealed that he approached Apple Inc’s Tim Cook to see whether Apple was interested in buying Tesla, but the CEO refused to take his meeting. Musk said he approached Cook when the company was in serious financial trouble, and worth one tenth of its current value. ‘During the darkest days of […]