General Motors forced to reduce production in the U.S. and S. Korea due to chip shortage
Feb 05, 2021 10:32 am UTC| Business Economy
General Motors announced this week that it will be reducing its production at four factories. The American automaker was forced to do this as chips needed to complete a vehicle has run out already. GM reveals the...
CGTN: UK regulators cancel Chinese news channel’s broadcasting license
Feb 05, 2021 06:57 am UTC| Business Economy
CTGN or the China Global Television Network, the Chinese state-owned broadcaster, has been pulled out from UKs TV programming. The regulators in the United Kingdom revoked its license to air on Feb. 4. Reason for the...
Merck chief Kenneth Frazier exiting the company in June and will turn to public service
Feb 05, 2021 05:46 am UTC| Business Economy
Kenneth Frazier, chief executive officer of Merck pharmaceutical company, is stepping down from his post. It was announced that he will be leaving his post in June, and Robert Davis, the current chief financial officer, is...
Mirae Asset launches equity fund investing in cleantech-focused S. Korean firms
Feb 04, 2021 23:59 pm UTC| Economy Investing
Mirae Asset Global Investments has launched a new equity fund to invest in South Korean companies with clean technology prowess. The South Korean investment house aims to ride on the green wave among financiers. Its...
Ford to reduce production of F-150 pickups due to semiconductor shortage
Feb 04, 2021 23:56 pm UTC| Economy Business
Ford Motor Co is cutting production of its profitable F-150 pickup trucks, going against the trend of automakers cutting production of less profitable vehicles to manage semiconductor shortage. The No. 2 US automaker is...
Shiseido to sell personal-care unit to CVC for $1.5 billion
Feb 04, 2021 23:47 pm UTC| Economy Business
Shiseido Co. agreed will sell its shampoo and affordable skin-care business to CVC Capital Partners for $1.5 billion, as it shifts more focus to making and selling high-end skin products. Under the deal, Shiseido will...
KFC owner cashing in on home delivery, take-out trend in China
Feb 04, 2021 23:43 pm UTC| Economy Business
Yum China is trying to cash in further with the home delivery and takeout trend with its KFC meal kits, which includes a snail-based rice noodle soup dish called luosifen that has become immensely popular in China. Yum...
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