Malaysia’s obsolete state fund 1MDB has reportedly filed a lawsuit against the subsidiaries of Deutsche Bank, Coutts & Co, and JP Morgan, seeking to recover the billions that were allegedly lost in a corruption scandal at the fund.
As a part of the lawsuit, 1MDB is reportedly claiming interest payments of $1.11 billion from Deutsche Bank (Malaysia) Bhd, $1.03 billion from Swiss-based Coutts unit, and $800 million from JP Morgan (Switzerland).
According to the documents filed by 1MDB at a Kuala Lumpur court on Friday, the company
As a part of the development of one of the world’s largest carbon capture and storage (CCS) projects, the Dutch government has reportedly granted around 2 billion euros ($2.4 billion) in subsidies. These subsidies are directed to a consortium of enterprises, including oil giants like Royal Dutch Shell and ExxonMobil.
This projects apparently intends to capture the carbon dioxide emitted from refineries and factories located in the area surrounding the Rotterdam port and store it in the country’s empty gas fields in the North Sea.
California-based plant-based meat producer Impossible Foods Inc. is advancing towards K-12 schools across the U.S. through pilot programs after recently securing Child Nutrition Labels (CN Labels) for its burgers from the USDA’s food and nutrition service.
For those unfamiliar, Child Nutrition (CN) Labels are USDA-approved voluntary food crediting statements. It helps schools participating in federal Child Nutrition Programs, such as the School Breakfast Program and National School Lunch Program, to decide how much a specific food product contributes to federal meal pa
Indian multinational technology company, Infosys, which is a listed software exporter, has reportedly unveiled plans to hire 1,000 new employees in the UK in order to meet the surging demand for digital services. The company stated that it is looking forward to ramping up its presence in the UK in the next three years on account of the COVID-19 crisis.
According to the company, the pandemic has intensified the need for digital skills and infrastructure, like cloud technology, as businesses are inclined on adapting new ways of working after over a year of disruption.
Cancer charities are reportedly planning to launch a campaign aimed at prompting General Practitioners (GPs) to save lives by diagnosing the symptoms of lung-cancer in non-smokers at early stages.
The groups, including Macmillan Cancer Support and Cancer Research UK, are reportedly supporting the new campaign which is expected to launch this week.
It has been reported that the charity is funding a research study to find whether disease diagnosis for non-smokers is different from smokers.
Lung cancer is
General Motors plans to invest USD 1 billion to retool its plant in Ramos Arizpe, Mexico, for producing electric vehicles. This makes the facility the fifth in North America where the automaker will manufacture battery electric vehicles (BEVs).
Sources close to the matter said the plant will continue to produce gas-powered vehicles, unlike the four others in Canada and the U.S.
Mary Barra, CEO of GM, has revealed plans to shift entirely to battery electric vehicles by 2035, discontinuing internal combustion engines across all light-duty m
British supermarket brand Waitrose and online food delivery firm Deliveroo have reportedly inked a two-year partnership deal. This deal is geared towards ensuring fast home grocery deliveries post a successful trial of the service.
Speaking on the new deal, Waitrose stated that it intends to extend its services through Deliveroo from 40 to 150 shops across the UK by summer end. This would help the company deliver food to nearly 13 million people. This move is also expected to generate 400 jobs at Waitrose stores in order to complete the orders which would be collected by Del
Prominent France based pharmaceutical company Sanofi has recently announced plans to extend its support to Moderna for producing its advanced Covid-19 vaccine in the United States. The announcement comes as it seeks to develop its own jab domestically.
Moderna reportedly intends to produce one billion doses of Covid-19 vaccine by the end of 2021 and expects to scale up the output to 1.4 billion doses in 2022.
According to the credible sources, Sanofi’s production site located in Ridgefield, New Jersey will execute the "fill and
Silicon Laboratories Inc. (Silicon Labs) recently announced it has entered into a definitive asset purchase agreement to sell its infrastructure and automotive business to Skyworks Solutions Inc. for USD 2.75 billion in an all-cash transaction. The deal includes the company’s intellectual property, timing and broadcast products, power/isolation, and associated employees.
In this context, Tyson Tuttle, CEO at Silicon Labs, reportedly said the outcome of this transaction is a quantifiable testament to the market-leading solutions and solid financial success the world-cla
