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NEWS

NEWS

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Danimer Scientific, a next generation plastic manufacturing company, has agreed to merge with Live Oak Acquisition Corp in a deal worth around $890 million.

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Ubisoft survey confirmed the allegations made by employees about the toxic work culture.

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Tesla is consolidating its battery manufacturing capacity with acquisitions of companies operating in the space and ATW Automation of Germany fits the bill.

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Equinox’s planned job cuts will affect hundreds globally. Equinor employees numbered 21,000 at the end of 2019, and said it will offer severance packages in some locations, while in Norway people will be moved to different locations or positions and some reduction will result out of natural attrition.

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Asda acquisition by Issa brothers and TDR Capital marks the return of grocer to majority UK ownership for the first time in two decades.

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The online retail giant Amazon Thursday said 19,816 of its front-line US employees working at Amazon and its Whole Foods retail chains had tested positive or presumed positive for the novel coronavirus.

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There have been a slew of job cut announcements from many companies after the ending of all concessions from the first stimulus package and no new proposal coming out soon. The US airlines have decided to lay off all furloughed employees soon if they don’t get another infusion of government aid.

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Sports betting was illegal in the US but a Supreme Court decision in 2018 overturned the federal ban and unleashed a new interest in the US in this gambling sports.

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The beleaguered airline industry is hopeful of a relief package under the new proposal of simulation payroll that Steven Mnuchin is offering to the Democrats.

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The coronavirus effect now extends to 28,000 furloughed employees of Disney as they are permanently laid off.

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The layoffs will be done in a phased manner in the coming two years and will include about 1,500 people agreeing to retire voluntarily.

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The move follows Japan’s new prime minister Yoshihide Suga’s efforts to reinvigorate the economy by  lowering mobile fees.

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Multi level marketing models are intrinsically flawed as they benefit only the people at the top of the pyramid, but the aggressive marketing lures many and now Herbalife is facing a class action suit for the same tactics.

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Remington, the gun making company has been portioned off to 7 bidders after it filed for a second bankruptcy in July this year. It brings to an end a long and chequered innings marred by lawsuits recently.

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Expensive Land Rovers and Tesla cars declared the most unreliable vehicles

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Xpeng Heitech is developing electric and vertical takeoff air taxis with a focus on lower altitudes of 5 to 25 metres.

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The showcase EV concept car used sustainable material and a new design to decrease its carbon footprint and the factory will follow the design as closely as possible.

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Low bike sales is the reason Harley Davidson is moving out of India, though it is looking for a partnership in the future.

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The virtual event by Tesla CEO  Musk was almost a damp squib with nothing exciting except promises of cheaper Teslas and higher battery storage in the future, leading to a tumble in share prices

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The stock purchases represent only about 1% of the combined market value of the two firms. The investment in these companies is more a show of confidence by the controlling company, say experts. Li Ka-Shing is known as the superman investor who has the knack to pick up cheap stocks in flailing companies and turn around fortunes.

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Automotive industry leaders are suing the government over the import taxes it has imposed on Chinese parts that are used in autos. The major …

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