Before a month or so, SK Innovation has made a commitment of spending nearly $1.67 billion for construction of a battery manufacturing unit in the southeast U.S. state of Georgia. After 4 weeks, Jun Kim, the Chief Operating Officer of the company, made an announcement that the company’s plan had some major permutations, and the …
Category Archives: Business
Vestager to Face Questions on Her Blocking the Alstom-Siemens Merger Deal at the Strasbourg Meet
Margrethe Vestager, EU Competition Commission’s chief will be facing questions from a college of EU commissioners about her decision to block one of the biggest mergers in the European Union which involves the corporate merger of Germany’s Siemens and France’s Alstom. The merger of the two industrial heavyweights which manufactures rail parts is supported by …
New Data Released by Eurostats Confirm Fears of European Economic Slowdown with Major Economies Already in Recession
Europe is facing a an economic slowdown with two of its largest economies already on the brink of recession according the recent release of statistics report by Eurostat which is EU’s central agency for handling economic statistics. With US- China trade war and consequent slowdown in China the world’s second largest economy, the European as …
Facebook Plans to Help Local News Organizations Find Profitable Business Models Through a $300 Million Investment
Facebook has announced plans to invest $300 million in local news organizations worldwide over the coming three years. The social media giant often a recipient of egregious accusations of being the doom of local news business worldwide seems to address these by its investment plans. The plan includes investment of both money and time by …
Ford Motor Company to Lay off Thousands of Workers as Part of Major Restructuring and Shift to Electric Vehicles
Ford is reportedly laying of thousands of workers from its payroll in Europe as it kick starts a major restructuring in the company to evolve better and profitable model in an industry increasingly leaning towards e-mobility. The company in the recent statement said that surplus labor will be reduced to undertake structural cost adjustments. It …
Pfizer Plans to Shut down Two Manufacturing Plants in India
American drugmaker Pfizer announced on Wednesday it will soon be shutting down two of its manufacturing plants in India that make generic injectable drugs, in response to falling demand. As reported in Reuters, the two sites in the states of Maharashtra and Tamil Nadu employ nearly 1,700 workers, contributing around 6 percent to Pfizer’s global …
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ARLP Completes Acquisition of AllDale, Targets the Oil & Gas Mineral Interests
Alliance Resource Partners (ARLP) made an official announcement, which conveyed completion of the acquisition of AllDale with a purchase amount of nearly $175 million, as per the previous announcement. This, in turn, enabled a control of nearly 42,000 net acres of royalty vis-à-vis areas with large-scale oil & gas accumulation. ARLP is one of the …
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Restrictions on Manufacturing and Usage of Methyl Tertiary-Butyl Ether Impede the Growth of the U.S. Methyl Tertiary-Butyl Ether (MTBE) Market
While methyl tertiary-butyl ether is commonly used in a variety of industrial applications, the growth of the U.S. methyl tertiary-butyl ether market might be hindered due to the imposition of stringent rules and regulations on the manufacturing and usage of methyl tertiary-butyl ether. As any kind of exposure to methyl tertiary-butyl ether can pose serious …
Europe Methyl Tertiary-Butyl Ether (MTBE) Market: Proposed Ban on Petrol and Diesel Cars in European Countries can Impact the Market Growth
The Europe methyl tertiary-butyl ether market is witnessing healthy growth with its applications in the oil & gas industry as a fuel additive. However, leading European countries such as the United Kingdom, France, and Norway are proposing to ban conventional fuel-based vehicles in the coming years. The Europe methyl tertiary-butyl ether market may witness a …
BASF Produces Products Based on Chemically Recycled Plastic Waste
In a novel move, BASF has manufactured products composed of chemically reused plastic waste, and has become a worldwide pioneer across the industry. Dr. Martin Brudermüller, CTO and Chairman of the Board of Executive Directors of BASF SE, said that companies, consumers and institutions must use plastics responsibly, if the world wants to set itself …
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