British authorities are exploring the possibility of creating a new digital currency that Treasury chief Rishi Sunak touted as “Britcoin.” The Bank of England and the Treasury said Monday that they will work together to assess the benefits of a central bank digital currency, at a time when cash payments are generally on the decline, […]
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Swedish automaker Volvo Cars has signed a strategic collaboration agreement with DiDi Autonomous Driving, the self-driving technology arm of popular ride hailing app DiDi Chuxing to test their self-driving cars test fleet, both companies announced on Monday. According to a joint statement, Volvo Cars will provide DiDi with XC90 cars equipped with necessary backup systems […]
H.S. Panno, an independent contractor living in a spacious two-story penthouse in New Delhi, had his doubts when he bought his first electric car in September. So far, he’s pleased with his savings on gas and maintenance, which are down by more than half, but disappointed with the practical limitations of driving his Nexon XZ+. […]
The Romanian government approved on Thursday a United States-supported bill banning China and its mammoth telecoms vendor Huawei from participating in the country’s 5G development efforts, reported Reuters citing a member of the IT&C and National Security Committee. Romania joins the likes of the U.S., UK, India, and Taiwan who consider Huawei to be persona […]
Chinese tech titan Huawei is aiming to invest one billion dollars to research self-driving and electric vehicles (EV) technologies, as the company aims to take on market leader Tesla Inc. and rival Xiaomi. Speaking to industry analysts in Shenzhen earlier this week, rotating chairman Eric Xu said that the telecom giant will team up with […]
If there’s something that the turn of the decade proved, its that due diligence needs to be taken to the next level. The pandemic brought businesses across the world to a screeching halt and put the global economy on its knees as waves of lockdown measures forced people to take refuge within their homes. A […]
Global consumer confidence soared to record heights in the first quarter of 2021, according to The Conference Board: Global Consumer Confidence Survey, as vaccination campaigns broadened, travel restrictions loosened, and governments and central banks continued to provide robust economic stimulus. These factors are contributing to various geographic regions returning to a “state of normalcy sooner” including increased spending […]
President Joe Biden used a virtual meeting with corporate leaders about a global shortage of semiconductors to push Monday for his $2.3 trillion infrastructure plan, telling them that the U.S. should be the world’s computer chip leader. “We need to build the infrastructure of today, not repair the one of yesterday,” he told the group […]
Chinese regulators have ordered Ant Group, a financial affiliate of e-commerce giant Alibaba Group Holding, to become a financial holding company to ease financial oversight amid stepped up scrutiny of technology firms. In a meeting Monday, the central bank and other financial regulators also ordered Ant to cease anti-competitive behavior in its payments business and […]
As the U.S. economy rebounds from its pandemic slump, a vital cog is in short supply: the computer chips that power a wide range of products that connect, transport and entertain us in a world increasingly dependent on technology. The shortage has already been rippling through various markets since last summer. It has made it […]