Business News

Automaker Toyota and SoftBank to invest $1 billion in Ubers self-driving vehicle

Japan’s largest automaker Toyota injected $500 million into Uber last year to work on self-driving cars, where both companies are seen as lagging rivals like Alphabet Inc’s self-driving unit Waymo. By Reuters | TFM News NEW YORK (Reuters) – A group of investors led by SoftBank Group Corp and Toyota Motor Corp is in talks […]

Business News

Volkswagen’s 5.9 billion euros annual savings goal may cut around 7,000 workforces

Volkswagen has ruled out compulsory layoffs until 2025, but early retirement will help the Wolfsburg, Germany-based carmaker to cut its workforces between 5,000 and 7,000 positions. By Reuters @moneycontrolcom – TFM News Volkswagen on March 13 stated it will reduce its workforce by up to 7,000 staff, raise productivity and eke out 5.9 billion euros […]

World News

Boeing 737 MAX planes restricted in Indian airspace following Ethiopian crash

Indian civil aviation ministry had stated late on Tuesday that it would ground 737 MAX immediately. Jet Airways Ltd and SpiceJet Ltd, two top Indian airlines, operate Boeing 737 MAX 8 aircraft. It has not detailed the types involved, but FlightRadar24 data shows its five once-active 737 MAX jets were grounded before the Ethiopian crash. […]

M&A

Carlyle Group obtains 9% stake in SBI Life from BNP Paribas Cardif’s current stake

Carlyle Group obtains 9% stake in SBI Life from BNP Paribas Cardif’s current stake Highlights Carlyle Group has bought 9.2 crore shares or 9.23 percent stake out of existence stake from BNP Paribas Cardif. The transaction valued Rs.4600 crore after 10 percent discount on Thursday closing of Rs.580.50. Carlyle’s value for this venture originated from […]

M&A

Britain’s Marks & Spencer and Ocado started $2 billion online supermarket partnership

Britain’s Marks & Spencer and Ocado started $2 billion online supermarket partnership Highlights M&S, Britain’s best recognized stores group, has slacked opponents in taking advantage of Britain’s quickest developing grocery market Under the agreement, Ocado’s retail arm will turn into a combined venture with M&S, which will pay 750 million pounds ($1 billion) for its […]