Daily Management Review
Business & Finance

Tesla makes millions in profits from bitcoin sales

Elon Musk's first-quarter financial statements show that bitcoins worth $272 million were sold at the end of March, with a profit of $101 million. This transaction, as well as an increase in car sales, contributed to the company's quarterly profit rising 27-fold (year-on-year) to a record $438...

General Electric reports first-quarter net loss

The US diversified technology group General Electric Co. (GE) posted a net loss of $2.874 billion last quarter, compared with a profit of $6.156 billion in the same period a year ago, the company said in its financial statements. Diluted loss per share in the reporting period was $0.33 versus...

UK Growing Fond Of Books Again As Sales Surge In 2020

People in the United Kingdom are growing fond of books and reading once again.   In 2020, there was a 7 per cent growth in the sale of consumer books in the country to £2.1bn as people "rediscovered their love of reading" during the lockdown period, said the industry body.   The...

Jessica Alba's company aims for $1.5B valuation in IPO

The Honest Company, founded by actress Jessica Alba, is set to raise $1.5bn in its IPO. The company, which sells nappies and self-care products, could raise about $110m. Los Angeles-based company The Honest Company, which sells baby and personal care products, plans to raise a $1.5 billion...

China launches investigation into the country's largest online food delivery service

China's State Administration of Market Regulation (SAMR) announced that it has launched an antitrust investigation into the country's largest online food delivery service, Meituan. In a statement, SAMR said the investigation focuses on the so-called "pick one or two" practice, in which the company...

AstraZeneca Sued By EU For Alleged Breach Of Covid-19 Vaccine Supply Contract

Legal action has been taken against AstraZeneca by the European Commission for disrespecting the contract for the supply of Covid-19 vaccines as well as not providing a "reliable" plan that can ensure deliveries in a reliable manner, the Commission said on Monday.   There was no merit in the...

Baidu’s Electric Vehicle JV Jidu Auto To Invest $7.7 Bln In ‘Robot’ Like Smart Cars

The chief executive of Jidu Auto, which is a joint venture between China’s tech giant Baidu and Chinese automaker Geely for making electric vehicles, has set plans for investing 50 billion yuan ($7.7 billion) for the production of smart cars within the next five years, said a report by the news...

Biden gives tax breaks to companies that incentivise their employees to get vaccinated

On 21 April, US President Joseph Biden instructed the US Internal Revenue Service to develop a mechanism to provide tax credits to US companies that incentivise their employees to be vaccinated against COVID-19. He urged employers to give everyone who is vaccinated a paid time off. "We need to...

Surge In Demand For Its SUVs And Luxury Cars Pushes Hyundai Q1 Profit To 4 Year High

A huge 187 per cent jump in its net profits for the first quarter of the current year was reported by the South Korean auto giant Hyundai Motor Co which was in line with the expectations of the market, the company said on Thursday. Hyundai attributed the performance to a strong demand for the...

European Top Court Rules Against Chanel In Its Fight With Huawei Over Trademark

A court case over trademark that was filed by the French luxury house Chanel against the Chinese technology firm Huawei resulted in the court ruling against the luxury brand in which a top European court ruled on Wednesday that the logos of the two companies had no similarities between them,...
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