Electric vehicles may be manufactured by Foxconn, the major Apple Inc supplier, at its factory in Foxconn which is a high profile one but is currently in some trouble, said chairman of the Taiwanese company. However the company also choose to Mexico for this project.   At a White House...

US pharmaceutical company Purdue Pharma, considered one of the main culprits of the US opioid epidemic, has submitted a plan to emerge from bankruptcy. The plan has been submitted to the bankruptcy court in White Plains, New York. As the submitted plan suggests, Purdue Pharma will be dissolved and...

The US Internal Revenue Service (IRS) is not effectively collecting taxes from wealthy Americans. Taxpayers with incomes over $1.5m a year have failed to pay 39% of their income tax arrears and owe the treasury $2.4bn, CNBC reported, citing a report from the Treasury Inspector General for Tax...

Those people who have been vaccinated against Covid-19 should be allowed to travel without any restrictions while those who are not should travel with a negative Covid-19 yes report, said the new boss of British Airways as he explained his ideas about restarting travel. The United Kingdom is set to...

British American Tobacco, which owns the Kent and Lucky Strike brands, has decided to enter the marijuana market. It has agreed to buy a stake in Canadian cannabis products maker Organigram, whose shares have risen more than 30% since the deal. One of the world's largest tobacco suppliers British...

China's antitrust authorities plan to fine Alibaba for a record amount, The Wall Street Journal reported citing sources. According to the publication, the amount of the penalty may exceed $975 million. This amount was paid by Qualcomm in 2015 for violating the country's antitrust laws: currently...

Despite the British engine maker Rolls-Royce reported a record 4 billion pound ($5.6 billion) underlying loss for 2020, the company expressed confidence that it would be able to weather the crisis in the aviation industry resulting from the Coviud-19 pandemic slump the in the aviation industry...

The Lego Group has reported its financial results for 2020. The company's revenues increased by 13% year-on-year to 43.7 billion kroner (about $7 billion). According to Bloomberg, this is a record high in the history of the Danish toy manufacturer. And consumer sales grew by 21% over the year....

Even though the concept of just-in-time manufacturing was pioneered by the Japanese car maker Toyota, its decision to stockpile chips used in the car industry and which is now facing a shortage globally seems to be apt. The car maker has been stocking up this key component of cars for a decade...