Business Archives - Page 12 of 16

The Swedish Automaker Volvo Wants to Market Electric Models by 2030

2Mar

By Alan LorenzNo Comments

Business, News

The Swedish Automaker Volvo Wants to Market Electric Models by 2030

The Swedish automaker Volvo Cars only wants to market electric models by 2030. Moreover, those cars are only sold online, the Swedes have announced. With that, it wants to make the purchase of a car easier. Dealers can still help with this but are also there for service and the cars' delivery. With the 2030 deadline, the company has become more ambitious than it was a few years ago. In 2017, Volvo intended to offer hybrid options for all cars in 2019 and market five fully electric models by Volvo and its subsidiary Polestar by this year. That goal has not yet been achieved. The counter has been on one fully electric Volvo, the XC40 Recharge, and one electric Polestar, the Polestar 2. Volvo will introduce a new electric car later Tuesday. By 2025, half of all cars sold must alre...

Huawei Wants to Market Its Own Electric Car

26Feb

By Alan LorenzNo Comments

Business, News, Technology

Huawei Wants to Market Its Own Electric Car

The Chinese technology and telecom company Huawei is working on its own electric car. This year, the first models may already appear on the market, reports Reuters news agency based on anonymous insiders. The company itself, which is facing US sanctions, denies plans for a plug-in car. According to the insiders, Huawei has started internally with the design of electric vehicles. The company is also said to be in talks with Chinese car manufacturers to use their factories for car production. Huawei may then have the electric cars assembled by a subsidiary of the industrial state group BAIC. If Huawei moves to electric cars, it will be a major shift in the company's activities. Now the company mainly earns money from the sale of smartphones and equipment for telecom networks. Thi...

Hyundai is Recalling Electric Cars Due to Battery Problem

24Feb

By Alan LorenzNo Comments

Business, News

Hyundai is Recalling Electric Cars Due to Battery Problem

Hyundai must recall 82,000 electric cars worldwide to replace battery systems. The recall will cost the South Korean automaker more than 700 million pounds. The cars are being recalled because the battery systems have an increased risk of fire. The recall is one of the first massive battery replacement operations by a carmaker. The question in this large-scale recall is how the automaker and the battery maker, in this case, LG Energy Solution, deal with the costs involved. Problems with the Kona EV, Hyundai's best-selling electric car, are the most worrying. There have been about 15 cases worldwide where this type of car caught fire. Owners of the Kona and Ioniq car types are advised by Hyundai to charge the battery to a maximum of 90 percent until it is replaced.

Tesla Lowers Prices on Entry-Level Model 3 and Model Y

18Feb

By Alan LorenzNo Comments

Business, News, Technology

Tesla Lowers Prices on Entry-Level Model 3 and Model Y

Automaker Tesla has lowered the prices of entry-level Model 3 sedan and the sporty off-road vehicle (SUV) Model Y. On the other hand, prices for more luxurious variants of the cars have increased, according to the website of the maker of electric cars. The Model 3 Standard Range Plus price has dropped from $ 37,990 to $ 36,990, while the price of the Model Y Standard Range has fallen from $ 41,990 to $ 39,990, the website said. The car manufacturer has made several models more affordable. This is happening at a time when other automakers also want to enter the electric vehicle market. The standard Model Y series was launched in January. This brought the SUV price closer to that of the Model 3 sedan, Tesla's least expensive car. The price for the so-called Performance variant of...

Taiwanese Chipmaker Wants to Give Car Chips Higher Priority

25Jan

By Alan LorenzNo Comments

Business, News

Taiwanese Chipmaker Wants to Give Car Chips Higher Priority

Taiwanese chip market leader TSMC wants to prioritize automotive chip production as soon as they can increase production capacity. This is reported by the Taiwanese Ministry of Economic Affairs in response to the worldwide shortage of car chips, which disrupts car production. The company TSMC has announced that it wants to optimize the production of chips first and then increase car chips production. In 2020, auto chips accounted for just 3 percent of the company's total chip sales. For chips for smartphones, this was almost 50 percent, and the so-called "high performance" chips accounted for more than 30 percent of sales. Germany had asked Taiwan to convince Taiwanese producers to do something about the shortage of the auto chips. Car manufacturers worldwide are forced to stop...

Ryanair Still Has to Pay Compensation to Claim Passengers

12Jan

By Alan LorenzNo Comments

Business, News

Ryanair Still Has to Pay Compensation to Claim Passengers

Ryanair still has to pay compensation for a delayed flight from 2017 to a company that filed the passengers' claims. On appeal, Claimingo was proved right by the judge after the subdistrict court had previously decided that Ryanair did not have to pay. The Irish price fighter has stated in its conditions that claims cannot be transferred. The court in Den Bosch held that this so-called ban on assignments is an inadmissible restriction of the right to compensation. Claimingo can, therefore claim 1,600 euros from Ryanair. That is the total delay compensation to which the four passengers who had engaged the company were entitled. Claimingo immediately pays passengers somewhat lower compensation and then claims the compensation from the airline. The court also looked at the cause o...

23Dec

By Alan LorenzNo Comments

Business, News, US

US Cryptocurrency Law Removes Anonymity

A US proposal to regulate crypto coins also appears to end the anonymous use of virtual wallets. Not everyone is happy with that. The proposal, from the Financial Crimes Enforcement Network (FinCEN), mainly identifies who invests and trades in crypto coins such as bitcoin, ethereum, ripple and other variants. The set-up is partly similar to the Know Your Customer principle that real banks have been using for several years. Cryptocurrency exchanges, places where you can buy and sell virtual coins, have to identify their customers to some extent when they transfer more than three thousand dollars worth of crypto coins in a transaction or send for more than ten thousand dollars in a day. Exchanges must also keep track of those transactions. Such transactions are already entirely t...

US Congress Agrees to Stricter Due Diligence on Chinese Firms

3Dec

By Alan LorenzNo Comments

Business, China, News, US

US Congress Agrees to Stricter Due Diligence on Chinese Firms

Chinese companies listed in the United States, such as Baidu and Alibaba, may lose that listing if US regulators are denied access to accounting. After the Senate, the House of Representatives has also agreed to tighten the rules. President Donald Trump has yet to sign the bill. The legislation provides for an adjustment period. Penalties are only imposed if the rules are not complied with for three years. With the law, Washington is intensifying its investigation into ties that Chinese companies have with Beijing. Senator John Kennedy emphasized while discussing the proposal that it is dangerous that Chinese companies are allowed to ignore the rules that American companies must comply with. In addition to the obligation to have the books checked, the US also wants to know whet...

Video Conferencing Company Zoom Revenues Quadrupled Year on Year

1Dec

By Alan LorenzNo Comments

Technology, Business, News

Video Conferencing Company Zoom Revenues Quadrupled Year on Year

Video conferencing company Zoom has managed to quadruple its revenues for the second quarter in a row compared to a year earlier. That it was a good year for Zoom, this must be evident from the quarterly figures of the video conferencing specialist. In the third quarter, the company brought in $ 777.2 million in revenue, four times more than the same period last year. This makes it the second quarter in a row in which Zoom has quadrupled its income. The popularity of the service, which is one of the more intuitive ways to remotely video call each other, exploded early this year when several countries went into lockdown. And despite a series of scandals and privacy concerns, Zoom seems to be maintaining that success too. The company now says it has 433,700 subscribers with more ...

Asian Stock Markets Rise After Major Free Trade Pact

16Nov

By Alan LorenzNo Comments

Business, Asia, News

Asian Stock Markets Rise After Major Free Trade Pact

The Asian stock markets showed substantial gains on Monday. Investors responded positively to the trade deal that China and fourteen other countries in Asia and the Pacific closed on Sunday. The pact aims to gradually lower trade tariffs in the region and creates a free trade zone between, among others, China, Japan, South Korea, Australia and New Zealand. The main index in Tokyo, the Nikkei 225, ended 2.1 percent higher at 25,906.93 points. The sizeable Japanese export companies, in particular, were in demand after the trade deal in the region, which, according to analysts, forms the largest trading bloc in the world. In addition, it turned out that the Japanese economy grew by 5 percent in the third quarter compared to the previous quarter. It was the first growth in four quar...