Hyundai halting its plant operations in S. Korea to prepare for EV production
Jul 09, 2021 08:47 am UTC| Business Economy
Hyundai Motor Co. revealed on Friday, July 9, that it had ceased operations in seven of its plants in South Korea. The automaker announced that it would be suspending the production of electric vehicles in these factories...
Posco Chemical investing over $500 million for new cathode plant in Pohang
Jul 09, 2021 08:01 am UTC| Business Economy
Posco Chemical is looking to build a new cathode factory that will rise in Pohang, North Gyeongsang province. Once completed, the plant is expected to produce 60,000 metric tons of cathode per year. As per The Korea...
Hyundai Motor: Union threatening to go on strike as pay negotiations failed
Jul 09, 2021 06:50 am UTC| Business Economy
Hyundai Motor may experience its very first company strike in three years as its negotiation with union workers has failed. The employees are asking for better pay as well as an extension for the retirement age, but the...
BMW, Volkswagen, Audi fined $1B by EU over emissions cartel
Jul 09, 2021 05:59 am UTC| Business Economy
BMW and Volkswagen are said to have been fined by the European Commission for conspiring to stop using the emissions cleaning technology they developed. Based on the reports, the German automakers had to pay $1 billion or...
Burger King president leaves as company lags behind rivals
Jul 09, 2021 01:06 am UTC| Business Economy
Burger King was belatedly reported to have lost its president, Chris Finazzo. He was said to have left the company a while ago. The departure of Burger King Americas president was only revealed through a federal filing...
Japan's Z Holdings to pay $1.6 billion for Yahoo brand
Jul 08, 2021 23:52 pm UTC| Economy Business
Z Holdings Inc agreed to buy the rights to the Yahoo name in Japan $1.6 billion to replace an existing licensing agreement. The deal follows the $5 billion sales of Verizon Communications Inc.s media division, which...
S. Korea's blockchain companies urged to develop attractive services to lure customers
Jul 08, 2021 23:49 pm UTC| Economy Digital Currency Business
Blockchain companies were urged by a Busan bank official to develop attractive services to lure South Korean customers who are so used to using credit cards that they tend to ignore blockchain-based services. The urging...
Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility
Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget
Why Germany ditched nuclear before coal – and why it won’t go back
Labour can afford to be far more ambitious with its economic policies – voters are on board
Sudan: civil war stretches into a second year with no end in sight