Volkswagen AG, Europe’s largest automaker, announced plans to develop a low-cost electric vehicle (EV) to compete with Chinese manufacturers. This decision follows the collapse of partnership talks with Renault, as reported by Reuters. Volkswagen aims to produce an EV priced around €20,000 ($21,746), with a global debut planned for 2027. “This is about entry-level electric

During a recent all-hands meeting at Alphabet, Google’s parent company, executives faced tough questions from employees concerned about low morale, despite the tech giant achieving a market cap exceeding $2 trillion. Employees highlighted a “significant decline in morale, increased distrust, and a disconnect between leadership and the workforce,” questioning the steps leadership would take to

Elon Musk’s artificial intelligence venture, xAI, engages with investors worldwide, eyeing a substantial funding round of up to $6 billion. Reports indicate Musk is reaching out to affluent individuals and entities across the globe, including in Hong Kong, to fuel xAI’s ambitions, positioning it in competition against Microsoft-backed OpenAI. The fundraising efforts, as disclosed by

Estonian mobility platform Bolt secures a major cash infusion to prep for going public next year. Bolt announced it has landed a €220 million credit facility from a group of big investment banks including Barclays, Deutsche Bank, Goldman Sachs, and JPMorgan. This type of credit line provides Bolt with a strategic cash reserve it can

Atos has unveiled a financial restructuring strategy aimed at securing €1.2 billion through a mix of €600 million in cash and an equal amount in credit lines and loan guarantees. This funding is part of the company’s effort to sustain its operations until 2025. The company, which also operates in Romania, has announced ambitious plans

Yahoo announced that it has acquired Artifact, a news app launched in 2023 by Kevin Systrom and Mike Krieger, the co-founders of Instagram. The acquisition price was not disclosed. “Yahoo was one of the first to combine human and algorithmic curation of news. Since then, the landscape of machine learning and personalization has changed dramatically