General Motors announced a $7 billion investment in Michigan on Tuesday, much of it geared at drastically increasing manufacturing of full-size electric pickup trucks, escalating a struggle with competitor Ford Motor Co for EV supremacy in North America.   Both American automakers, on...

Companies specialising in short-selling stocks have earned $114bn since the start of the year, an 11.6% increase on the full year last year. The most lucrative short-selling bets on the stock market were bets against electric car maker Tesla and video service Netflix, analysts calculated. Profits...

Despite the regulatory threats facing the deal and investors now lambasting the overwhelming majority of such vehicles, stocks of the blank-check acquisition company that decided to merge with former President Donald Trump's social media venture have surpassed every other...

The Japanese tech giant Sony is likely to add additional technology partners to its electric vehicle (EV) initiative with the aim to help it construct a mobility business that will transform automobiles from transportation machines to entertainment areas, said reports quoting an executive of the...

Mexican oil and gas corporation Pemex has completed its acquisition of a 50.005% stake in the Deer Park refinery complex in Houston from Shell, becoming the sole owner of the facility. "The purchase of the Deer Park refinery, located in Houston, Texas, has been successfully completed through the...

Morgan Stanley's 2021 net profit rose 1.4 times year-on-year to a record $15.034 billion, the financial corporation said. Net income attributable to shareholders also rose 1.4 times to $14.566 billion. Diluted earnings per share were $8.03, compared with $6.46 in 2020. Morgan Stanley's consolidated...

The Australian government has requested backpackers to work in the country as the country seeks an alternative replacement for the country’s workforce which has been severely crippled by the latest Covid-19 pandemic wave caused by the Omicron variant even as the health system of the country is...

Health officials of the United Kingdom want to begin charging Britons for Covid-19 tests, which are presently free,  by the end of June, in what might be a controversial bet for the government, according to a report published by the news agency Reuters.    ...

International rating agency Moody's has affirmed Microsoft Corp.'s "Aaa" credit rating with a stable outlook after the company agreed to acquire video game maker Activision Blizzard, the agency said in a statement. The company's commercial paper rating has also been affirmed at 'P-1'. The day...