Ramla Soni

Jeff Bezos invests in British tech logistics start-up Beacon

Jun 01 2020 @ 10:54
Founded in 2018, Beacon has raised $15m in a funding round so far   Amazon’s Jeff Bezos has invested in a British start-up that seeks to use digital technology to disrupt the global logistics industry. Founded in 2018, Beacon has raised $15m (£12m, €13m) in a funding round with current investors who include Uber founder Travis […]
 

SpaceX completes historic mission of launching humans into orbit

Jun 01 2020 @ 10:52
US Nasa astronauts Bob Behnken and Doug Hurley became the first to fly in SpaceX’s Crew Dragon capsule SpaceX has become the first private company to launch humans into orbit, after weather conditions over the Kennedy Space Center in Florida settled on Saturday afternoon to allow a second launch attempt to go ahead. US Nasa […]
 

South Korea lowers 2020 economic growth prediction to just 0.1%

Jun 01 2020 @ 10:48
South Korea has lowered its economic projections for 2020 to growth of just 0.1 per cent, forecasting the worst economic performance since the 1998 Asian financial crisis. The new projection is down from a previous one of 2.4 per cent, made before the Covid-19 outbreak. It comes after a 250trn won ( approx £165bn, $204bn, […]
 

Renault to cut almost 15,000 jobs in bid to save €2bn in costs

May 29 2020 @ 11:02
The reduction in staff represents 40 per cent of planned savings Renault is planning to cut around 15,000 jobs, pull back on production and restructure some of its French factories as it looks to reduce €2bn (£1.8bn, $2.2bn) in costs amid falling demand and the aftermath of the 2018 arrest of Carlos Ghosn. After recording its […]
 

German retail sales fall much less than forecasted in April

May 29 2020 @ 11:01
Retail sales dropped by 5.3 per cent on the month in real terms after an upwardly revised drop of 4.0 per cent in the previous month An increase in supermarket and online shopping prevented a double-digit fall in German retail sales last month. Retail sales dropped by 5.3 per cent on the month in real […]
 

EasyJet to axe 4,500 jobs

May 29 2020 @ 10:56
UK budget airline EasyJet is planning to cut up to 4,500 jobs and reduce its capacity. The company is looking to rebuild and improve productivity after the coronavirus pandemic forced it to ground almost its entire fleet two months ago. The budget carrier will begin an employee consultation process on its proposals to reduce staff numbers by […]
 

Chevron to cut up to 15 per cent of worldwide workforce

May 29 2020 @ 10:54
Chevron Corp is to cut 10 to 15 per cent of its worldwide workforce as part of restructuring by the second-largest US oil producer. The company previously disclosed a 30 per cent reduction in its 2020 spending and voluntary job cuts amid this year’s plunge in oil prices and lower demand for oil and gas due […]
 

Tesla cuts its EV prices by 6 per cent in the US

May 28 2020 @ 11:03
Tesla has slashed prices of its electric vehicles by 6 per cent in North America following a decline in auto demand during the coronavirus lockdown. Tesla website’s showed the starting price for its Model S sedan is now $74,990, down from $79,990. Its Model X SUVs are now priced at $79,990, from $84,990, and the lowest-priced […]
 

European and UK stocks surge after lockdown measures eased

May 26 2020 @ 10:51
European shares were near an 11-week high and UK markets surged as governments and businesses worldwide announced a gradual reopening following a global easing of the coronavirus-led lockdown. The pan-European STOXX 600 rose 1 per cent in early morning trading, reaching its highest level since March 10. The UK’s FTSE 100 surged 1.9 per cent as Prime […]
 

Singapore lowers 2020 GDP outlook for the third time

May 26 2020 @ 10:43
The city-state has lowered its GDP forecast to a contraction range of -4 per cent to -7 per cent as officials and analysts warn of more economic disaster ahead Singapore has lowered its 2020 gross domestic product forecast for the third time as the economy prepares for its deepest ever recession. The city-state lowered its […]
 
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