Up until now the global shortage of chips in the auto industry has not been able to hit South Korea’s Hyundai Motor in any significant manner as it has remained more or less resilient to the crisis. But the company will be facing the challenge to curb production because of the shortage from April....

Chinese holding Geely Automobile reported a 32% drop in profits for 2020, saying that the company's performance was affected by the COVID-19 pandemic. The automobile concern's net profit fell to $850 million. Revenue fell 5% to $14 billion. The company sold 1.32 million vehicles last year, while...

Chinese company ByteDance, which owns video service TikTok, is buying game developer Mooton Technology, Reuters reported, citing a statement from the company. Terms of the deal have not been disclosed, but according to Reuters, ByteDance has made a significant investment in the developer, which is...

Canadian Pacific Railway is buying US rival Kansas City Southern, the companies announced. The deal is valued at $29 billion, including Kansas City Southern's debts, the largest merger in the market since the beginning of the year. Kansas City Southern shareholders will receive 0.489 Canadian...

After launching antitrust investigation into Google and Apple earlier this year, a similar probe is being prepared against the largest social media company Facebook by Britain’s competition regulator within the next few months. That would be the latest event in the efforts of the regulator to rope...

British Airways feels that it may not need as much of office space as it currently possess because of the rising trend of working from home that got pace during the Covid-19 pandemic and hence the airline was considering selling off the building that houses it headquarters.   This news of...

The global food giant Nestle is set to launch a chocolate sweetened with cocoa fruit pulp and has been named “Incoa” bar even as confectionery companies are trying to find ways to reduce added sugar in their products.   Through this venture the company has made use of the cocoa fruit pulp...

Cybercriminals have begun to target family offices that manage the wealth of wealthy investors more frequently. They have weaker defences than banks, making them easier targets for criminals. Digitalisation and the pandemic have increased the activity of cyber-fraudsters trying to defraud family...

Chinese online retailer Pinduoduo has published its financial statements for 2020 - the information that attracted the most attention from investors and the media was that the number of active users of the service reached 788.4 million people for the year. Thus, Pinduoduo overtook Internet giant...