Ford’s sales plunged as chip shortage caused production delays
Jul 05, 2021 08:38 am UTC| Business Economy
Ford Motor Companys sales went down for the month of June. It was reported that this was caused by the chip shortage as the firm could not keep up with the demand due to a series of forced production stoppages. As per...
Citibank: Korean banks not interested in acquiring company’s Southeast Asian retail business
Jul 05, 2021 08:30 am UTC| Business Economy
Citibank Korea is selling its retail banking business, but it was reported that none of the local banks is interested in acquiring it. The reason cited for their indifference is the fact that none of them feel the...
Coupang probed by FTC for alleged tampering of algorithm on its platform
Jul 05, 2021 08:02 am UTC| Business Economy
Coupang was reportedly investigated by South Koreas Fair Trade Commission due to allegations that the e-commerce company tampered with algorithms so it can prioritize its own products. This was reported by insiders this...
Korea Shipbuilding wins 215.5 billion won LNG carrier order from Liberian firm
Jul 03, 2021 23:58 pm UTC| Economy Business
Korea Shipbuilding Offshore Engineering Co. (KSOE) bagged a 215.5 billion-won order for a liquefied natural gas (LNG) carrier from a Liberian company. The order calls for Hyundai Samho Heavy Industries Co., a KSOE...
LG seeks growth opportunities by investing 100 billion won in Kakao Mobility
Jul 03, 2021 23:56 pm UTC| Economy Business
LG Corp. will invest 100 billion won in Kakao Mobility Corp. to allow its affiliates, including LG Energy Solution Ltd. and LG Electronics Inc., to create synergy with Kakao Mobility and find new growth opportunities in...
Mitsubishi Electric president to step down, apologizes over fake test data
Jul 03, 2021 23:52 pm UTC| Economy Business
Mitsubishi Electric Corp. Takeshi Sugiyama apologized for causing trouble and will resign to take responsibility for test data falsifications on equipment supplied to railway firms that may date back over 30...
France probes fashion groups Uniqlo, Zara, Skechers, SMCP 3 over Uyghur labor
Jul 03, 2021 23:48 pm UTC| Economy Business
French magistrates have opened an inquiry into allegations that fashion groups Inditex, Uniqlo, SMCP, and Skechers profited from the forced labor of the Uyghur minority in China. The case stemmed from a complaint lodged...
South Africa’s plan to move away from coal: 8 steps to make it succeed
Germany lowers voting age to 16 for the European elections
IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects