UK car maker bets on green revolution

Hydrogen-powered car manufacturer Riversimple is hoping to steal a march on competitors ahead of Britain’s promised “green revolution” that would see petrol-powered cars banned within 10 years. While conventional battery-powered electric cars may be a few miles ahead in the zero-emission vehicle race, the company is betting that nascent hy...

Tesla Shatters Records in Climb to Nasdaq’s Top Performing Spot

Tesla Inc. is wrapping up its biggest week in three months as news that Elon Musk’s electric-vehicle maker will enter the S&P 500 Index next month sparked a global buying frenzy throughout the electric vehicle sector. The rally propelled Tesla shares to a new intraday high of $508.61 on Thursday, and made it the best performing stock this ...

Apple Suppliers’ Exodus from China Won’t Slow Down Under Biden

Apple Inc., the largest of the many tech giants that rely on Chinese factories to make their gadgets, will move some production of its iPads and MacBooks to Viet...

Luxury carmaker Maybach has high ambitions for China

Carmaker Daimler plans to double sales of its luxury Maybach vehicles, buoyed by strong demand in China. Daimler, which also owns Mercedes-Benz, sold a record 12,000 luxury Maybachs last year. They are used widely as limousines in China, the car's most popular market. Prices start at $173,000 (£130,000) for the latest model. However, this can r...

Saudi Telecom Company announces CEO resignation, share buyback

Saudi Telecom Co. (STC) said its board of directors accepted the resignation of chief executive officer Nasser Al-Nasser on Nov. 28, 2020, according to a bourse statement. The resignation, which will be effective March 28, 2021, was submitted for personal reasons. The board also delegated the nomination and remuneration committee to identify a n...

Apple to pay $113 million over deliberately slowing down iPhones

Apple has agreed to pay millions of dollars to 34 states over its controversial previous practice of deliberately slowing down older iPhones to extend their battery life. The company will pay $113 million to settle an investigation by states including California and Arizona over how Apple wasn't transparent about its iPhone battery problems ...

TikTok owner gets another week to sell its US business

TikTok's deadline to finalize a US buyer has been extended for the second time in less than a month. The Trump administration on Wednesday gave the short-form video app's Chinese owner, ByteDance, until December 4 to conclude a proposed takeover deal by Oracle and Walmart, according to a spokesperson for the Treasury department. "The Committee o...

Dubai based tech incubator AstroLabs expands into tech recruiting

Tech incubator AstroLabs has launched a recruiting service, seeking to match the pool of tech professionals it has trained with regional digital companies. With the introduction of AstroLabs Talent, AstroLabs now offers its 4,000-strong Academy alumni recruiting support, thereby enhancing the value of its digital training courses. AstroLabs Tale...

Amazon spends $500m on bonuses for Christmas staff

Amazon is spending hundreds of millions of dollars on bonuses for Christmas staff after sales at the online giant soared during the pandemic. Full-time warehouse workers in the UK and the US will receive £300 or $300, with £150 or $150 for part-time staff. The money, $500m in total, will go to staff working between 1-31 December. The firm, run...

Israel’s Bank Hapoalim signs agreement with DIFC, AGDM

The agreement enables Bank Hapoalim to access banking and innovation opportunities in the Middle East, Africa and South Asia through the DIFC platform Israel’s Bank Hapoalim has signed an agreement with Dubai International Financial Centre (DIFC) to cooperate across financial service activities. As a global partner of the DIFC, Bank Hapoalim w...

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