Rivian to lay off over 800 employees as inflation and high costs bite
Jul 29, 2022 09:57 am UTC| Business Economy
Rivian Automotive, the American electric vehicle manufacturer founded in 2009, is set to terminate 840 employees, which are said to be equivalent to six percent of the companys workforce. The companys chief said the move...
JetBlue Airways to acquire Spirit Airlines in a $3.8B deal
Jul 29, 2022 09:52 am UTC| Business Economy
JetBlue Airways has finally been announced as the buyer of Spirit Airlines after winning in the acquisition battle. The Long Island City-headquartered low-cost airline, which is also the seventh largest in North America...
SsangYong Motor submits final rehabilitation and M&A plan, but creditors reject scheme
Jul 29, 2022 09:49 am UTC| Business Economy
SsangYong Motor filed its restructuring plan with the Seoul court on Wednesday, July 27. The submission took place a month after the court approved a consortium as the final bidder for the acquisition of the South Korean...
Shinsegae Food debuts plant-based canned ham
Jul 29, 2022 09:36 am UTC| Business Economy
Shinsegae Food unveiled its newest product on Thursday, July 28, and this will be a stepping stone for the company as it plans to enter the global meat alternative market. The South Korean leader in the domestic meal...
Hyundai Card, Yanolja sign strategic partnership deal to issue PLCC
Jul 29, 2022 09:16 am UTC| Business Economy
Hyundai Card, a South Korean credit card company under Hyundai Motor Group, has signed a deal with Yanolja Co. Ltd. to engage in various business collaborations, including the release of private label credit cards or...
Nestle announces acquisition of Purina Petcare in India
Jul 29, 2022 08:18 am UTC| Business Economy
Nestle unit has acquired the Purina Petcare brand in the country for ₹125.3 crore. The Swiss multinational food company made the announcement of its new acquisition in India on Thursday, July 28. As per Business...
Jack Ma to step down and hand over control of Ant Group: Report
Jul 29, 2022 07:49 am UTC| Business Economy
Jack Ma, the Chinese business magnate, investor and philanthropist, is reportedly planning to give up his control of Ant Group. This plan is said to be under consideration for a long time now as it is one way to reduce...
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