Virgin Orbit to halt operations for a week; furloughs the staff
Virgin Orbit, the aircraft engineering arm owned by the British corporation Virgin Group, has reportedly planned to halt all operations starting Thursday in a bid to keep up with its finances. According to reports, almost all workers in the satell....
Science unveils Science Foundry platform to produce medical devices
Biotechnology startup, Science, has recently launched a new platform called Science Foundry, to help other companies develop medical devices easily. Companies seeking to build a start-up can use the infrastructure of the platform and avail the facili....
U.K.: Shell’s departed CEO gets 50% pay jump, nearly £10 million in 2022
Shell's recently retired CEO's pay reportedly increased by over 50% to roughly £10 million ($11.9 million) in 2022, with an added bonus, which was described as jaw-dropping by protesters. The overall compensation for Ben van Beu....
Musk’s plans to cut Tesla costs by half dissipates; shares fall by 5%
Tesla Inc., the leading U.S.-based automaker, reportedly planned to decrease manufacturing costs in the coming generations of vehicles by half, engineers informed investors on Wednesday, however, CEO Elon Musk did not introduce a much-anticipated sma....
Tesla to open new engineering headquarters in Palo Alto, California
Tesla, leading electric vehicle manufacturer, has reportedly announced the launch of its new engineering base in California, taking over Hewlett Packard's former Palo Alto premises. Elon Musk, the CEO of Tesla, shared the news on Wednesday while ....
Leading chipmaker ASML accuses a Chinese employee of stealing data
ASML, the major Netherlands-based semiconductor company, has reportedly accused an employee from China of stealing data, related to its technology. The Dutch company claims that it has since informed the Dutch and the US authorities about the....
Fable Food secures $8.5M in Series A round; seeks business expansion
Fable Food, a mushroom-based meat alternative startup based in Australia, has reportedly raised $8.5 million in a Series A round. Fable Food will use the latest funds for research and development, and new meat products made from mushrooms are in t....
OpenAI to launch ChatGPT $20 monthly subscription service trial in U.S.
OpenAI, the U.S.-based AI research company and the maker of the popular AI chatbot ChatGPT, has reportedly planned to trial a subscription service in the United States. It stated that subscribers will gain access to the system even during peak period....
Asda to slash jobs & cut pay for night staff in a bid to boost profits
Asda, the well-known British supermarket chain, has reportedly unveiled a planned restructuring that will put hundreds of employees in danger and shift thousands to lower-paying positions. Apparently, this third-largest grocery store chain in the ....
PM Sunak defends giving more leveling up share to south-east England
The U.K.’s PM Rishi Sunak has reportedly defended the most recent round of leveling-up funds, which found the wealthier South East of England area receive more funding than the north-east. According to the prime minister, the north had obtai....
FAA: Technical issues can further delay flight operations in the U.S.
Normal air traffic activities are reportedly restarting in the United States after flights were suspended on Wednesday, according to the Federal Aviation Administration (FAA). The FAA stated that the issue was caused by a corrupt database file and....
EU slaps €390M fine on Meta over unlawful use of data for targeted ads
Meta, the renowned American tech giant, has reportedly been slapped with a €390 million (US$413 million) fine for breaching the European Union data regulations. The Irish Data Protection Commission (DPC) stated that Meta's request for per....
The U.K.: Over two-thirds of consumers to reduce non-essentials in 2023
Two-thirds of the U.K. consumers are reportedly intending to reduce their non-essential spending in 2023 due to concerns regarding the rising cost of living, according to a survey. Well-known accounting firm KPMG stated that 61% of customers in a ....
Twitter rolls out View Count on tweets for iOS and Android users
Twitter, the renowned social media platform, has reportedly rolled out its new view count feature where users can see how many views they got on their tweets. As per reports, this feature is available for iOS and Android users and will be accessib....
Allkem completes the acquisition of lithium tenements and the sale of Borax
Allkem Limited, a specialty lithium chemicals company, has reportedly finalized the sale of manufacturer Borax Argentina to Golden Wattle Springs Pty Ltd (a group associated with MSR). Under this transaction, Allkem transferred all the issued shar....
Abiogen Pharma takes over Altamedics in a deal worth $8 million
Italy-based pharmaceutical company Abiogen Pharma S.p.A. has reportedly completed the acquisition of Altamedics GmbH, a German pharmaceutical distribution company, which is slated to become the first foreign branch of Abiogen. The acquisition, worth ....
CDC awards Illinois $86M to reinforce its public health infrastructure
Governor of Illinois JB Pritzker and the Illinois Department of Public Health (IDPH) has reportedly announced that the State of Illinois has been awarded $86 million in federal funding to reinforce the state’s public health workforce and infras....
Lockdowns in China expand as COVID-19 cases reach record levels
World's most populace country, China, is reportedly extending lockdowns, including in the central city where factory workers recently clashed with police, as its COVID-19 cases hit a new record. According to sources, people in Zhengzhou's ....
Transition VC unveils $48 million fund to encourage energy transition
Transition VC, a well-known venture capital fund, has recently announced the launching of its maiden fund with a corpus target of around USD 48 million (400 crores), which includes a greenshoe option of around UDS 24 million (200 crores). Apparent....
Oil rises after Saudi Arabia denies report of increased OPEC+ supply
Oil prices in early Asian Trade rose slightly following the denial of media reports that Saudis were in discussions for increasing oil supply with OPEC and its allies made by Saudi Arabia The prices of oil slightly increased in Asian Trade recentl....
Fairmat nabs $35Mn to create a new material from carbon fiber composite
French manufacturing startup, Fairmat has reportedly secured $35 million (€34 million) in a Series A round of funding to facilitate its plans to transform carbon fiber composite, which is no longer used, into a material that can be used to devel....