“Let me begin with the obvious: e-mobility has won the race,” Herbert Diess, chief executive officer of Volkswagen AG, said on Monday. “It is the only solution to reduce mobility emissions fast.” Diess was speaking at an event VW dubbed “Power Day,” where the company laid out its big plans for beating Tesla Inc. and … Read more
NEW YORK, NEW YORK – SEPTEMBER 20: Apple CEO Tim Cook greets customers at the grand reopening of Apple’s flagship Apple Fifth Avenue retail store on September 20, 2019 in New York City. Taylor Hill | WireImage | Getty Images Shares of Apple closed up 5.39% on Monday to a price of $127.79, outpacing the … Read more
Warren Buffett’s Berkshire Hathaway Inc on Saturday said quarterly operating income rose 14 per cent, aided by improved results from its insurance businesses, while soaring prices of stock holdings such as Apple Inc led to a nearly $36 billion overall profit. Fourth-quarter operating income rose to $5.02 billion, or approximately $3,252 per Class A share, … Read more
New York: US coronavirus deaths passed a quarter of a million people on Wednesday as New York announced it would close schools to battle a rise in infections and anti-restriction protests in Europe turned violent. America has now registered 250,426 fatalities, according to a running tally by Johns Hopkins University, by far the highest reported … Read more
By Katherine Chiglinsky Warren Buffett might have just found his next elephant-sized deal: Buying back his own stock. Berkshire Hathaway Inc. spent $16 billion buying back its stock in the first nine months of 2020, more than triple its previous annual record. The repurchases even surpass many of Berkshire’s biggest investments in recent years, including … Read more
What happens when there would be a dispute over the newly introduced equalisation levy? That seems to be a question several tax experts seem to be asking as digital giants take different stands on how they want to deal with the levy that is applicable on their revenues from India. “Provisions pertaining to equalisation levy … Read more
By Nathaniel Bullard One of the oldest components of the Dow Jones Industrial Average disappeared from the popular market benchmark at the end of August. ExxonMobil Corp., a member since 1928 (when it was Standard Oil of New Jersey) and the world’s most valuable company as recently as 2011, had fallen in value over recent … Read more
MUMBAI: Financial services company Nomura on Monday cautioned about a ‘faux recovery’ being reflected by various indicators which is limited to festive consumption even as the Nomura India Business Resumption Index (NIBRI) picked up sharply to a post-lockdown high of 82.2 for the week ending 18 October versus 80.8 in the previous week led by … Read more
House lawmakers released a scathing report on four of the world’s largest tech companies, accusing them of abusing their market power. The report, which was released on Tuesday and concludes a 16-month investigation into Amazon, Apple, Facebook and Google, recommended breaking up the companies and passing the most sweeping changes to antitrust laws in decades. … Read more
India is planning to launch its own app store as an alternate to the ones offered by Apple and Alphabet-owned Google, in a bid to make the country more self-reliant, ET Now reported on Thursday, citing government sources. Prime Minister Narendra Modi’s government may ramp up its Mobile Seva App Store for this purpose, the … Read more