Global restrictions on exports to Russia in response to its invasion of Ukraine have shut down a car maker, halted work on tanks and cut a Russian computer maker’s access to circuits used in communications equipment, a U.S. official said on Wednesday. “Thirty-three countries have joined together with one export controls strategy,” said Thea Kendler, […]
Reuters
As Tesla kicks off production at its new German plant this month, Volkswagen is weeks away from finalizing plans for a 2 billion euro ($2.2 billion) electric vehicle (EV) factory that it hopes will bring it up to speed with its U.S. rival. Tesla says it can already churn out a Model Y in 10 […]
Investors publicly rebuked Ericsson Chief Executive Borje Ekholm and the telecom equipment maker’s board on Tuesday over a scandal involving potential payments to Islamic State. Ekholm’s handling of an internal probe into Ericsson’s operations in Iraq has come under scrutiny after the U.S. Department of Justice (DoJ) said the company was in breach of a […]
Major Ericsson shareholders will vote against a motion to clear some board members of responsibility over possible payment of bribes to militant organisations in Iraq, deepening a crisis at the Swedish group that has knocked a quarter off its market value. Shareholders, including Cevian Capital, Swedbank Robur and Norway’s wealth fund, plan to vote against […]
U.S. pressure on Huawei Technologies has served to strengthen the resolve of the Chinese telecoms giant, finance chief Meng Wanzhou said on Monday after its first set of results since her return from nearly three years’ detention in Canada. The daughter of Huawei founder Ren Zhengfei played a central role in the company’s tussle with […]
Ukraine’s state-owned telecommunications company Ukrtelecom experienced a disruption in internet service on Monday after a “powerful” cyberattack, according to Ukrainian government officials and company representatives. The incident is the latest hacking attack against Ukrainian internet services since Russian military forces invaded in late February. “Today, the enemy launched a powerful cyberattack against Ukrtelecom’s IT-infrastructure,” said […]
The U.S. National Highway Traffic Safety Administration (NHTSA) on Sunday reinstated a sharp increase in penalties for automakers whose vehicles do not meet fuel efficiency requirements for model years 2019 and beyond. The decision was a win for Tesla that could cost other automakers hundreds of millions of dollars or more. Confirming an earlier report […]
China Evergrande New Energy Vehicle Group said it will start accepting orders for its inaugural electric car, the Hengchi 5 sport utility vehicle, “imminently” and open sales centres in 15 major cities across the country. Liu Yongzhuo, president of the electric vehicle (EV) arm of the world’s most indebted property developer China Evergrande Group, made […]
Japan will revise its foreign exchange law to prevent Russia from evading Western financial sanctions following Moscow’s invasion of Ukraine through cryptocurrency assets, top government officials said on Monday. The government will submit a revision of the Foreign Exchange and Foreign Trade Act to the current parliament session to strengthen protections against potential sanction-busting by […]
Uber Technologies Inc said on Saturday it has received permission to operate in London under a new 30-month license, ending a years-long battle with the city transport regulator over safety concerns. “Uber has been granted a London private hire vehicle operator’s license for a period of two and a half years,” a spokesperson for Transport […]