LONDON : Volta Trucks said on Friday that it had raised 230 million euros ($260 million) in Series C funding round, which will finance it through the launch of series production of its Volta Zero electric truck in late 2022. Stockholm-based Volta Trucks, which also operates in the UK, said […]
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DETROIT: Nissan Motor Co said on Thursday (Feb 16) it will invest US$500 million to retool its US assembly plant near Canton, Mississippi, to build two new electric vehicles, part of the Japanese automaker’s US$18 billion program to expand its electric vehicle fleet through 2030. Nissan said it plans to […]
NEW YORK : A team of quantum computing engineers from JPMorgan Chase & Co, Toshiba Corp and Ciena Corp say they have successfully shown that a powerful, newly-developed encryption network can be used to protect communications on the blockchain, according to a paper published Thursday. The group of researchers say […]
KUALA LUMPUR: Public Bank Bhd’s PBe QR service can now be used to make instant payments via DuitNow QR Cross Border Payment between Malaysia and both Indonesia and Thailand. The bank said this would allow its customers traveling abroad to transact conveniently with merchants in Indonesia and Thailand using Public […]
LONDON: Britain’s annual inflation rate rose in January to 5.5 per cent, the highest level for almost 30 years, official data showed today, heaping more pressure on the cost of living. The Consumer Prices Index (CPI) edged up from 5.4 per cent in December, the Office for National Statistics confirmed […]
MUMBAI: Cryptocurrencies are akin to Ponzi schemes or even worse and banning these is the most sensible option for India, the Reserve Bank of India’s deputy govenor said on Monday (Feb 14). “We have also seen that cryptocurrencies are not amenable to definition as a currency, asset or commodity; they […]
WASHINGTON : Toyota Motor Corp said Monday it has not yet resumed production at its three manufacturing lines in Ontario even after a key U.S.-Canadian bridge reopened. The Japanese automaker’s plants in Ontario, where it builds its best-selling RAV4 sport utility vehicle, have halted production since Thursday because of parts […]
KUALA LUMPUR: Malaysia’s economic growth, measured by gross domestic product (GDP), is likely to grow at 5.4 per cent for 2022 from the 5.0 per cent initial forecast, said OCBC Bank. OCBC Bank made the revised forecast after considering the consumption propensity and still-supportive exports environment. Its economist Wellian Wiranto […]
Price rises in the US accelerated by more than expected last month, pushing annual inflation up to 7.5% – the highest rate since 1982. Food and energy costs helped to drive the increases, which left few spending categories untouched. The rising prices are squeezing household finances as wages fail to […]
Tesla is being sued for alleged racial discrimination and harassment by a California regulator which claims the electric carmaker operates “a racially segregated workplace”. The California Department of Fair Employment and Housing (DFEH) said it had received “hundreds of complaints” from workers at the Fremont factory. Tesla called the lawsuit […]