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Business World

China’s BYD to supply batteries to Elon Musk’s Tesla very soon

Chinese electric carmaker, BYD, plans to supply batteries to Tesla “very soon,” a senior executive from the company told a Chinese state-owned broadcaster. “BYD respects Tesla, and we also admire Tesla,” said Lian Yubo, BYD’s executive vice president, in a video interview with an anchor from CGTN. “We are now good friends with Elon Musk, […]

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Business World

Shoppers risk building debt by using buy now pay later payments feature

Young shoppers risk building up debts by borrowing money to make buy now pay later repayments, Citizens Advice says. Half of 18 to 34-year-olds used different types of credit to make the payments, it said. Although the results were drawn from a survey, the charity said the answers highlighted the issue of people relying on […]

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Business Insane World

KFC Australia to put cabbage in burgers and wraps amid shortage of lettuce

Fast food giant KFC has been forced to put cabbage in its burgers and wraps in Australia as the country is struggling with a shortage of lettuce. The firm told customers it is using a mixture of lettuce and cabbage after floods destroyed lettuce crops. It comes as shoppers in Australia have been hit with […]

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Business Tech World

Elon Musk threatens to pull out of $44 billion Twitter deal over sharing of user data

Elon Musk threatened to walk away from his $44 billion acquisition of Twitter, accusing the social media company of “thwarting” his requests to learn more about its user base. In a letter filed with regulators, Mr Musk said he was entitled to do his own measurement of spam accounts. The letter formalises a dispute that […]

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Business Tech World

EU accuse Apple of abusing market position for contactless smartphone payments

The European Commission has accused Apple of abusing its market position for contactless smartphone payments. In a preliminary finding, it said the US company may have broken competition law by preventing rivals from accessing its “tap and go” technology. Apple denies the charge and has promised to engage with the Commission. If the charges are […]

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Business World

Bitcoin becomes legal tender in Central African Republic

The Central African Republic (CAR) has approved Bitcoin as legal tender. The second country to do so. CAR is one of the world’s poorest countries, but is rich in diamonds, gold and uranium. It has been wracked by conflict for decades and is a close Russian ally, with mercenaries from the Wagner Group helping fight […]

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Business Tech World

Top EU lawmakers warn Elon Musk against relaxing Twitter’s content moderation

European Union’s top lawmakers have issued a warning to Elon Musk over his takeover of Twitter. Twitter agreed to Elon Musk’s offer to buy it for $44 billion on Monday. The billionaire has publicly stated his interest in buying the social media platform is rooted in his idea of “free speech.” Musk has previously described […]

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Business Tech World

Twitter board reportedly met Elon Musk to discuss takeover offer: Report

The board of Twitter reportedly met Elon Musk over the weekend to explore his $43 billion takeover offer for the social media platform. After the Tesla boss first revealed his bid, Twitter’s management announced a so-called “poison pill” strategy to fend off a potential hostile buyout. Mr Musk plans to finance his bid with the […]

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Business World

Tesla profits soar to $3.3 billion in the first 3 months of 2022 as customers pay more amid supply chain shortages

Profits of Elon Musk’s electric car company, Tesla, soared to $3.3 billion in the first three months of the year, as customers proved willing to pay more. The firm’s deliveries were up 68% and would have been higher if not for supply chain shortages, the firm said. Its Shanghai factory was also recently forced shut […]

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Business World

Top iPhone supplier suspends production at two factories in China amid strict Covid lockdown

Apple’s top suppliers is stopping work at its factories in and around Shanghai as the city of 25 million people remains under a strict Covid lockdown. Pegatron announced Tuesday that it had suspended production at its facility in China’s largest city, as well as the nearby city of Kunshan, until further notice. “The date of […]

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Business World

Visa, Mastercard suspend operations in Russia over its invasion of Ukraine

U.S. payments firms Visa Inc and Mastercard Inc on Saturday said they were suspending operations in Russia over the invasion of Ukraine, and that they would work with clients and partners to cease all transactions there. Within days, all transactions initiated with Visa cards issued in Russia will no longer work outside of the country […]

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Business World

Amazon is shutting down all its physical Amazon Books, 4-star and Pop Up shops

Amazon is shutting down all its Amazon Books physical bookstores, as well as its Amazon 4-star and Amazon Pop Up shops, which sold a variety of electronics and other hot items. The closures affect 68 stores across the United States and United Kingdom, Amazon said. Closure dates will vary by location and Amazon said it […]