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| High global demand for gasoline might be gone for good |
3/19/2021 |
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Gasoline demand is unlikely to fully return because increased demand in the developing world will be offset by consumers shifting to electric vehicles, manufacturers improving fuel efficiency and businesses increasing telework while decreasing travel, the report said.
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| A Canadian electric car company to build 3 wheel EV's in Arizona |
3/19/2021 |
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ElectraMeccanica Vehicles Corp. announced Tuesday that it has selected Mesa after searching for a location for its U.S. assembly facility and engineering technical center. Once fully built, the company expects to employ between 200 and 500 workers and produce up to 20,000 SOLOs yearly.
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| Micron Technology ditches 3D XPoint to go for CXL memories |
3/18/2021 |
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Micron indicated it will increase investment in new memory products that leverage the Compute Express Link (CXL), the recently introduced industry standard interface that enables flexible connection between compute, memory and storage. With immediate effect, Micron will cease development of 3D XPoint.
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| Texas power company filed bankruptcy after waiver customer charges |
3/18/2021 |
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Griddy's bankruptcy plan proposes to waive claims against customers for charges they incurred from February 15 - 19, while the $9,000 per megawatt hour price for wholesale power was in effect. The Texas attorney general said Tuesday that the waiver would cover about 24,000 former customers who owe $29.1 million in unpaid bills, and that negotiations were continuing over relief for customers who paid their bills.
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| Ford Motors allows some employees to work at home indefinitely |
3/18/2021 |
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Ford told about 30,000 of its employees worldwide who have worked from home that they can continue to do so indefinitely, with flexible hours approved by their managers. Their schedules will become a work-office “hybrid”: They'll commute to work mainly for group meetings and projects best-suited for face-to-face interaction.
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| Nokia cuts headcount to invest in 5G development |
3/17/2021 |
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The restructuring means the number of staff is expected to fall to 80,000-85,000 employees over a period of up to two years, Nokia said on Tuesday. It should reduce costs by $715 million by 2023.
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| Volkswagen plans six large battery factories to support its EV cars |
3/17/2021 |
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Volkswagen said it would build on its existing battery production facilities at Salzgitter in Germany and with partner Northvolt in Skelleftea, Sweden, adding new production technology and a standardized cell that it said would cut battery costs by as much as 50%.
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| CEO of Ant Group resigned citing personal reasons |
3/16/2021 |
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Ant Group has come under increased scrutiny and tighter regulation as it expanded the range of financial technology services it offers. In November its planned stock market debut was suspended in Shanghai and Hong Kong. The Shanghai stock exchange cited regulatory changes in Ant’s industry and a possible failure to meet disclosure requirements but gave no details.
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| Dispute start to surface in Brexit deal |
3/16/2021 |
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The European Union said Monday it is starting legal action against the United Kingdom, arguing it does not respect the conditions of the Brexit withdrawal agreement and is violating international law.
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| Rioter attacks Chinese factories in Myanmar |
3/16/2021 |
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More than 100 civilians have been killed by security forces since the February 1 coup, according to a tally by the Assistance Association for Political Prisoners. Many more have been injured, and thousands have been arrested.
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| U.K. economic output down by 3% due to Brexit |
3/15/2021 |
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Britain left the European single market on Jan. 1, ending almost half a century of free trade and triggering tariffs, increased paperwork and border delays on both sides of the English Channel. While the drop in trade was magnified by stockpiling ahead of the new rules, economists said the scale of the decline reflected the disruption caused by Brexit.
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| Strong sales on second half keeps BMW profitable |
3/12/2021 |
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Operating profits for the second half of last year were 9.8% higher than the second half of 2019. The Munich-based company's sales were boosted by the early and strong economic recovery in China, where 2020 sales topped the year before by 7.4%.
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| U.S. unemployment to ease off |
3/12/2021 |
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Fewer employers are cutting jobs amid a decline in confirmed coronavirus cases and signs of an improving economy.
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