Business – Page 9

VW Plans To Increase Its Production In The U.S By Teaming Up With Ford

Herbert Diess, the CEO of automobile giant Volkswagen had a talk with the president of the United States, Donald Trump on the last Tuesday. After the meeting he has announced that the company has several options before it owing to which it can increase the production capacity in the U.S. He has said that potential…

Nexstar To Buy Tribune Media For $4.1bn

Nexstar, American media group, is ready to become the largest local TV stations operator in the country following a deal to purchase Tribune Media for around $4.1 billion. This deal comes 3 months after failure of Tribune’s sale to Sinclair Group because of regulatory hurdles. Sinclair Group is presently the largest local TV operator in…

Mike Ashley Wants To Introduce A New Tax On Online Retailers To Save Town Centers

Mike Ashley, the owner of Sports Direct has asked for the introduction of a new tax on the online retailers so the town centers can revive at a faster pace. He stated that imposing a new tax on all the retailers result in 20% of the total revenue earned from the online platforms and not…

Brexit Will Leave UK Poorer, Says Govt Forecast

Government departments of UK have forecasted that Brexit will make its citizens poorer over next 15 years and the exact extent of drag it will have over the economy depends on how exactly the deal is finalized. According to estimates a no –deal Brexit will cost the economy around £ 200 billion, while other possible…

Addison Lee And Jaguar To Test Driverless Vehicles In London

Information of the “world-leading” programs was disclosed by the Department for Business as it declared the winners of a £25 Million investment initiative. The two Government-supported London plans involve car maker Jaguar Land Rover and taxi company Addison Lee. The first program will set up 15 cars in North Greenwich on 4 taxi services. It…

Bayada Health Care Employees Receive $20 Million From Chairman

For this year, Bayada Home Health Care has something special for its employees to be thankful. On Tuesday, Mark Baiada, the founder of the company surprised his employees with a $20 Million present from his personal treasury. As per the company reports, the bonanza offered will range from $50 for new employees and reach up…

Virgin Atlantic Likely To Bail Out Cash-strapped Flybe

Virgin Atlantic has confirmed that it is in discussions with cash strapped airlines firm Flybe and there could be an outright purchase or close alliance between the two. After Exeter based Flybe declared itself bankrupt and open for sale, it was in discussions with several airlines including Virgin. Flybe had warned investors last month that…

Oil Falls As Russia Considers On Cutting Of Oil Production

Recently, Alexander Novak—Russia’s Energy Minister—stated that energy ministry is considering probable oil production trimming with local manufacturers. The ministry also plans to talk with the OPEC (Organization of the Petroleum Exporting Countries) in early December. Russian news agency Prime stated that Novak asserted that the ministry has already discussed it and would persist to discuss…

Lockheed Martin Grabs Pentagon $ 23 Billion Contract

Lockheed Martin Corp received $ 22.7 billion contract from the US Department of Defense for the delivery of 255 F-35 jets, a decision made after the defense contractor was ordered to reduce the cost of its aircraft. The contract provides Lockheed for the delivery of 106 combat jets for military use and rest will be…

SurveyMonkey Reported 18% Revenue Increase In Its First Quarter

Recently, SurveyMonkey reported an 18% increase in revenue, strengthened by sales to venture clients, when it accounted its first profits report as a public company. The company compared the statistics with earlier reports. The observations found were the loss per share was 1 Cent, whereas, previously it was 2 Cents; revenue was $65.2 Million, whereas,…

Self-Driving Mercedes Cabs Will Soon Be On The Roads Of San Jones

As per the joint statement given by Daimler, a German multinational automotive corporation; and Bosch, an auto-parts supplier that they would develop Robot Mercedes cabs, which will be seen traveling through business district San Jones by the end of the next year. The company has a contract for testing the self-driving services over the ride-hailing…

LimeBike Expansion By Introducing Car-Rental Services In Seattle

Lime–a transportation company—has been offering bikes and scooters rental services in over 100 cities worldwide. Last month also, the company took a great initiative towards a cleaner environment by launching zero-emission electric scooters and bikes. Now, the company plans to expand its services by initiating its rental car testing this week at Seattle. Even though…

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Category: Business