Companies

September 10, 2024

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EU Court Orders Apple to Pay €13bn in Back Taxes to Ireland

Europe's top court has ruled that Apple must pay Ireland €13bn in unpaid taxes, ending an eight-year legal battle. The decision, which Apple disagrees with, marks a significant victory for the European Commission in its efforts to prevent large companies from exploiting tax loopholes

September 8, 2024

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Chinese Giant Chery Looks to Build Cars in the UK

Chery, one of China's largest carmakers, is considering building cars in the UK. The company's UK head, Victor Zhang, indicated that it's only "a matter of time" before a decision is made. Chery, which is already producing cars in Spain, seeks a localized approach to the European market. By manufacturing in Europe, Chery could avoid EU tariffs imposed on Chinese electric vehicles.

September 5, 2024

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BMW Plans to Bring Its First Hydrogen Car to Market in 2028

BMW has announced plans to launch its first hydrogen-powered vehicle by 2028, in partnership with Toyota. The car will be based on an existing model and will feature hydrogen fuel cell technology. BMW, a strong proponent of hydrogen vehicles, is hedging its bets on alternative green technologies by developing hydrogen and battery-powered options.

September 4, 2024

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Amazon Announces Nearly 10% Pay Raise for Tens of Thousands of UK Workers

Amazon has announced a 9.8% pay increase for tens of thousands of its UK employees, including delivery drivers and warehouse workers, following a series of strikes. This raise comes after the GMB union's narrow loss in a ballot for bargaining rights. Starting September 29, Amazon's minimum hourly wage will rise to between £13.50 and £14.50, with long-serving employees earning slightly more.

September 4, 2024

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Volvo Cars Scales Back 2030 Goal to Be Fully Electric

Volvo Cars has revised its 2030 target of becoming fully electric, due to slow infrastructure development, reduced government incentives, and new tariffs. The Swedish automaker, initially committed to full electrification in 2021.

September 2, 2024

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BMW Recalls Almost All Fully Electric Minis Amid Safety Concerns

BMW is recalling nearly 150,000 Mini Cooper SE vehicles globally due to a defect in the high-voltage battery system that could lead to potential fires. The recall, affects all cars produced from November 2018 to January 2024.

September 2, 2024

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VW Considers Closing German Plant For the First Time Ever

In an unprecedented move, Volkswagen (VW), Europe's largest automaker, may close two German factories to cut costs amid challenges in transitioning to electric vehicles and facing competition from Chinese automakers.

August 30, 2024

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Shell to Cut Hundreds of Jobs in Oil and Gas Exploration Operations