Fiat and PSA's against-all-odds merger nears the finish line

Fiat Chrysler Automobiles NV and PSA Group are poised to get shareholders' sign-off on a combination that's endured two years of extraordinary drama, marked by on-again off-again talks, the transformation of their industry and a global pandemic. At two separate meetings Monday, investors will be asked to approve a merger that will form Stellanti...

Tesla Delivers 499,550 Vehicles in 2020, Just Shy of Target

Tesla Inc. delivered a record number of cars worldwide in the fourth quarter of 2020, but fell just shy of a goal for 500,000 units for the full year. The electric-car maker delivered 180,570 vehicles in the last three months of the year, eclipsing its prior all-time high of 139,300 in the ...

UAE’s ADNOC Distribution plans $10m deal for 15 Saudi service stations

Abu Dhabi’s ADNOC Distribution announced on Thursday that it plans to acquire 15 service stations in the eastern region of Saudi Arabia. The deal is valued at 36.7 million dirhams ($10 million) and is subject to regulatory approval, WAM, the UAE state news agency, said. “Expanding our presence in Saudi Arabia is an important milestone for ou...

Emirates makes management changes to “navigate” pandemic challenges

Emirates airline on Sunday announced key management changes in its Dubai hub and across markets in the Far East, West Asia and Africa. As part of the changes, five Emirati commercial managers will be placed in key positions across the airlines’ network to support its commercial strategies as it responds to “shifting market dynamics and navig...

Bezos, Musk Smash Records as World’s Richest Added $1.8 Trillion

Billionaires have always traveled in a different orbit than the rest of us. Nicer things, more power, rocket-launching stations. But 2020 threw that gulf into stark relief. While much of the world grappled with soaring unemployment and plunging growth, the 0.001% benefited from unprecedented wealth creation. The world’s 500 richest people adde...

California has given the go-ahead for a commercial driverless delivery service for the first time.

Robotics start-up Nuro plans to start its driverless delivery operations as early as next year. It previously tested its R2 vehicles in the state in April, but the permit will let it charge people for its service. The firm's vehicles will be limited to 35mph (56km/h), and will be restricted to operating in "fair weather" conditions. “Issuing t...

Bitcoin soars past $33,000, its highest ever

Bitcoin has been flirting with the $30,000 mark for weeks, and finally passed that record-setting level Saturday. The virtual currency is now valued at above $33,000, an all-time high. Bitcoin (XBT) has tripled in value during 2020, growing steadily even ...

Albaik fried chicken opens first branches outside Saudi Arabia

The west coast’s famous fried chicken has made its way to foreign shores, as one of Saudi Arabia’s most popular fast-food brands Albaik opens two new branches in the kingdom of Bahrain. The company originally made the announcement in November of 2018 via Twitter. “In line with the Kingdom’s Vision 2030, which encouraged local businesses ...

Tata grabs bigger slice of AirAsia and India's airline industry

Tata Group has increased its stake in AirAsia India as it looks to increase its share of India's airline industry. On Tuesday  the company announced it would increase its holdings in the Indian-based joint venture with AirAsia from 51% to 84%. AirAsia, owned by Malaysian tycoon Tony Fernandes, has been scaling back its operations during the Cov...

China launches antitrust investigation into Alibaba

China has launched an antitrust investigation into Alibaba (BABA) as it steps up scrutiny of the country's rapidly growing internet firms. The State Administration for Market Regulation, China's top market regulator, said Thursday that it would probe alleged monopolistic behavior by Alibaba, Jack Ma's online shopping and cloud computing gia...

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