(Brands & Consumers)
Volkswagen’s CEO, Herbert Diess is leaving his post in a surprise move, effective September 1, as reported by the BBC, According to the company, Diess will be replaced by Oliver Blume, the Head of Volkswagen (VLKAF)’s Porsche performance car division. Volkswagen, the world’s second largest automaker, did not provide a reason for Diess’ exit. However,…
Social media giant, Twitter has revealed that it spent $33m (£27m) on Elon Musk’s proposed deal to buy the firm between April and June 2022. It also said its number of monthly daily users had risen to 237m – but it reported a net loss of $270m, which was worse than expected. It would be…
FC Barcelona and Spotify’s partnership has officially kicked off with the popular audio streaming platform becoming the club’s main partner and Official audio streaming partner. As part of the agreement, the Swedish company, as reported by FC Barcelona also becomes the Title Partner to the stadium, which from today bears a new mural on its…
Barely a year after Tesla announced a major investment in Bitcoin, the company has now sold off most of its holdings of the cryptocurrency. At the end of 2021, Tesla offloaded 75% of its Bitcoin, which was worth about $2bn (£1.7bn) at the time. This saw the electric car company backing away as the value…
A judge in the United State has ordered that the lawsuit between social media giant, Twitter and American billionaire and businessman Elon Musk go to trial in October 2022. This comes as a blow to Musk who had earlier asked for a postponement in the commencement of the trial with his team citing complexities. Twitter…
There have been whispers of an impending freeze on hiring and even layoffs across financial firms as soaring interest rates and recession fears have tanked appetites for mergers, IPOs and other big corporate deals, sources revealed to The Post. At an industry luncheon last week with executives from top banks including JPMorgan and Morgan Stanley,…
Apple leaks have revealed that the iPhone 14 Pro models will receive multiple exclusive upgrades and higher pricing. However, fresh reports have revealed that the standard iPhone 14 models will also receive a price bump, despite being virtually unchanged from their predecessors. Speaking to The Sun, Dan Ives, Head of Popular Analyst Group Wedbush Securities…
These are not e best of times for streaming giant, Netflix as it prepares to report its second-quarter earnings on Tuesday in what is shaping up to be one of the most consequential moments in the company’s 25-year history. As reported by CNN, Netflix is having a terrible year. In April, the company reported that…
American billionaire and businessman, Elon Musk’s chances of winning the lawsuit filed against him by Twitter appears to have taken a precarious position with the appointment of the judge in the trial, a legal expert has submitted. Kathaleen McCormick has appointed herself to oversee Twitter’s lawsuit in the Delaware Chancery Court, which followed Musk’s decision…
Movie streaming giant, Netflix has teamed up with Microsoft to offer a cheaper subscription plan, which will show advert to customers. Netflix explained that the service will be an “addition” to its existing plans, which do not include adverts. The company is yet to reveal details of how much it plans to charge subscribers for…
PepsiCo has raised its revenue outlook for the year, as inflation pushed up prices and people paid more for its Doritos chips and Gatorade drinks as it deploys price hikes, smaller sizes to fight rising costs. Expecting costs to rise even higher in the second half of the year, the global food and drink giant…
American billionaire and businessman, Elon Musk has officially been sued by Twitter after the tech mogul announced they he is backing down from his $44bn offer to buy the platform, as reported by Marca. Last week, Musk sent the Twitter board a letter where he revealed that the reason he was backing down was down…
Twitter shares have suffered a drop after Elon Musk announced his decision to pull out of a $44 billion (£36bn) deal to buy the social media platform. Twitter’s share price stood at about $32.64 as Monday trading closed – falling further below the $54.20-a-share takeover price agreed by Mr Musk and Twitter’s board in April….
Billionaire businessman, Elon Musk has responded to Twitter’s move to file a lawsuit against him by tweeting out a meme of him laughing shortly after Twitter reportedly instituted a move to sue him for dropping his $44 billion takeover bid of the company. The post has a series of four photos of the Telsa founder…
Apple Pay Later will now allow users to split the cost of their purchases into four, interest-free payments anywhere Apply Pay is accepted, as reported by Fox Business. The new BNPL option, according to Fox Business, will be available in the wallet app when Apple releases iOS 16 in September. BNPL providers partner with retailers…
These are not the best of times in Canada as the country’s largest mobile and internet provider has suffered a major outage, with bank ATMs and emergency service hotlines affected. Government operations have also been hit by the Rogers Communications issue as the company says it is working to restore internet service. In a statement…
American billionaire businessman, Elon Musk has pulled out of the deal to buy Twitter as he seeks to officially end his $44bn (£36bn) bid to buy the social media brand on the heels of alleged multiple breaches of the agreement. It would be recalled that Musk had explained that he backed out because Twitter failed…
Uganda has discovered 31 million metric tons of gold waiting to be mined in the country after several surveys were conducted. According to a spokesperson from the Ministry of Energy and Mineral Development in Uganda, Solomon Muyita, these reports are aimed at attracting gold miners and investors in the crypto sector. In a bid to…
In an attempt to curb the soaring rate of inflation in the face of a slump in its currency, Zimbabwe is on the verge of introducing gold coins later in July. The country’s central bank has also outlined plans to make the US dollar the nation’s legal tender for the next five years. The central…
Following the discovery of a “software glitch” in 59,000 Tesla vehicles, German regulators have announced a recall on all the affected vehicles. The recall pertains to Tesla models Y and 3, though it is unclear how many of the 59,000 affected vehicles are registered in Germany, according to Reuters. According to the country’s road traffic…
The currency in Sierra Leone has been overhauled and one of the prominent changes is that three zeros have been taken off its banknotes as part of the launch of its new currency, according to BBC Africa. The leone is being replaced by what has been named the ‘new leone,’ which means an old 10,000…
Five years ago, Barbadian singer, actress and fashion designer, Rihanna took the cosmetics market by storm when she unveiled a makeup brand distinctly designed for people of color. Once again, the singer has cast her sights on unconventional wisdom as she looks to take a huge risk on a market that is often overlooked by…
Stocks in the United States of America have seen their worst first half of a year since 1970 even as concerns continue to grow over how steps to curb inflation will affect economic growth. As reported in the BBC, between January through June, the benchmark S&P 500 index fell 20.6%, while other major US indexes…
Automobile giant, Toyota is recalling 2,700 of its first mass-produced all-electric vehicles over concerns that wheels of the cars risk falling off. According to a spokesperson who spoke to the BBC, the bolts on the bZ4X’s wheels “can loosen to the point where the wheel can detach from the vehicle” after “low-mileage use.” The recall…
North Dakotans are outraged as Bill Gates, the largest private farmland owner in the US, apparently buys a $13.5 million potato farm American billionaire philanthropist Bill Gates who owns the largest rivate farmland has acquired a potato farm in North Dakota and local residents are not happy with the move. The state’s agricultural commissioner, Doug…
As it continues to battle against declining growth and increased competition, online streaming platform, Netflix has announced yet another round of job cuts following a decline in its subscriber base. This time, Netflix laid off 300 employees, which constitutes about 4% of its workforce mostly in the United States. This comes after the company laid…
Chinese electric carmaker Nio has confirmed the death of two people who died after one of its vehicles fell from the third floor of its headquarters in Shanghai. Those who died in the crash have been identified to be one employee of the company as well as a second person who works with a partner…
Social media giant, Twitter has commenced the testing of a new feature called ‘Notes,’ which will allow users to share ‘notes’ as long as 2,500 words. Twitter posts are currently limited to 280 characters. According to Twitter, the move was a response to seeing people use the platform to post pictures of longer posts and…
Automobile manufacturer, Ford’s next generation of electric cars in Europe will be built at its plant in Valencia. The Valencia plant was chosen over its rival facility located in Saarlouis, Germany. According to the American car manufacturer, it plans to sell only electric cars in Europe by 2030, ahead of a planned EU ban on…
American billionaire, Elon Musk has revealed that the new Tesla factories in the US and Germany are “losing billions of dollars” as a result of the battery shortages and supply disruptions in China. Must went ahead to label the plants in Berlin and Austin, Texas “gigantic money furnaces” even as the Covid-19 lockdowns in China…
As gas prices continue to rise, it doesn’t come as a surprise that Americans are on the hunt for the cheapest prices and gas prices that they can find. As you might have guessed, those tanks need to be refilled on a regular basis. The good news is that despite the crippling effects of the…
American e-commerce giant, Amazon has announced its “first fully autonomous mobile robot,” designed to move large carts throughout its warehouses. The robot named Proteus can safely navigate its way around human employees unlike some of its previous robots that were separated in a caged area. Accordig to Amazon, the Proteus robots have “advanced safety, perception,…
As part of its growth and expansion plans, the owner of British chocolate brand Cadbury has announced it’s acquisition of US energy bar maker Clif Bar & Company for the sum of $2.9bn (£2.4bn). Mondelez International, also owns Oreo, Toblerone and Milka explained that buying Clif Bar & Company will play a huge role in…
To help with the rising cost of living in the UK, Rolls Royce will give over 14,000 staff a one-off payment of £2,000. According to Rolls Royce, the payment is expected to cover both junior management and shop floor staff, mainly based at its Derby and Bristol sites. The payment will begin with 3,000 employees…
During his first meeting with Twitter employees, American billionaire, Elon Musk has hinted at potential layoffs if his $44bn (£35.8bn) takeover bid for the social media company is successful. “Anyone who’s… a significant contributor should have nothing to worry about.” Musk had affirmed. During a company-wide video call with Twitter employees, Musk said layoffs at…
Australia’s energy minister, Chris Bowen has urged households in New South Wales – a state that includes the country’s biggest city Sydney – to switch off their lights in the face of an energy crisis. Bowen maintains that people should strive towards not using electricity for two hours every evening if they “have a choice.”…
Popular web browser, Internet Explorer also known as IE is dead and it’s official. After about 27 years of operation, Microsoft has pulled the plug on the browser and finally replaced it with ‘Microsoft Edge.’ What this means is that all support for Internet Explorer is hereby withdrawn from today, June 15th 2022, which marks…
Adobe has commenced the testing of what is has called a free-to-use version of Photoshop on the web as it plans to open up Adobe Photoshop up to everyone as a way to introduce more users to the app. The new version is currently being tested in Canada where users can access Photoshop on the…
Mauritius Commercial Bank (MCB) has disclosed plans to expand its operations to Africa’s largest economy, Nigeria. This was revealed by MCB’s Head of Corporate & Institutional Banking, Thierry Hebraud during the ongoing Africa CEO Forum in Abidjan, Côte d’Ivoire. According to Hebraud, the COVID-19 pandemic delayed the expansion plan. He, however, added that the company…
American e-commerce giant, Amazon has announced that before the end of 2022, it will commence making Prime Air deliveries through the deployment of drones. Amazon made the disclosure in a press release adding that it plans to kick off operations in Lockeford California where customers will see items available for Prime Air delivery on Amazon….
American billionaire businessman, Elon Musk is scheduled to attend a virtual all-hands meeting on June 16, 2022. At the meeting, Musk is expected to field questions from the company he’s in the process of buying. His attendance was announced in an email from Twitter CEO Parag Agrawal on Monday seen by Business Insider. Employees will…
American multinational technology company, Google has agreed to pay out the sum of $118 million to over 15,500 female employees to finally settle a long-standing lawsuit over gender discrimination and equitable pay. According to court documents, the settlement covers female employees in 236 job titles in California since September 14, 2013, the plaintiffs’ legal firms…
American fast-food giant, McDonald’s has been rebranded to become “Vkusno & Tochka,” which translates to “Tasty and that’s it.” With this rebranding came the reopening of 15 McDonald’s restaurants under a new brand name and ownership as revealed by it’s owner Alexander Nikolaevich Govor. According to the brand’s Director General, Oleg Paroev, the company is…
Coming in the heels of information made public by American automotive company, Tesla, the company’s stock is on the verge of becoming cheaper and more affordable. The company has announced that its board approved a 3-for-1 stock split, which marks its first split since August 2020. This split would, however, need to be approved by…
German multinational corporation, Adidas has filed a lawsuit against it’s American rival, Nike over what it considers an infringement on 9 of its patents, including those related to the Adidas_1 sneaker and its sneaker reservation app, Confirmed. In the lawsuit, Adidas is focusing largely on Nike’s ‘Adapt’ technology, the company’s dive into “smart” footwear. Adapt…
TikTok has revealed that in the coming weeks, it will introduce a new option for users to set custom time limits for how much uninterrupted time they want to spend using the app, before getting a reminder to take a break. Before now, TikTok allowed users to get notified if they spent more than 40,…
iPhone users and those looking forward to the iOS 16 are in for a treat as tech giant, Apple has unveiled the new iOS 16 with an upgraded lock screen as well as exciting changes to the iMessage. The new features will allow users personalize their iPhone lock screens, change how they text friends through…
Popular video sharing and social media platform, Youtube has received knocks for failing to tackle a network of cyber-criminals streaming fake Elon Musk videos to scam unknowing viewers. The criminals behind this are gradually hijacking YouTube accounts and using the videos to promote bogus cryptocurrency giveaways. According to the BBC News platform, dozens of these…
As a direct fallout of an executive of popular social media platform, TikTok allegedly saying that he did not believe employees should get maternity leave, the company is currently investigating claims of an aggressive work culture within the establishment. As reported in the Financial Times (FT), Joshua Ma has now stepped back and been replaced…
The United Kingdom (UK) government has maintained that it is not “currently considering” copying European Union plans to have a common charging cable for devices. It should be recalled that the European Union (EU) has provisionally agreed that all portable electronic devices must use a USB Type-C charger by autum of 2024. The EU explained…
