Startups are a major driver of innovation, but many startups are acquired by large incumbents. Do these acquisitions stifle innovation or promote it? While the prospect of an acquisition might generate incentives for entrepreneurs to create more new businesses, some incumbents might acquire startups only to subsequently drop their innovative ideas. This column explores the […]
Several teams have approached Honda about a partnership when Formula One’s new engine era starts in 2026 but no decision has been taken about future involvement, the Japanese manufacturer said on Monday. Honda have an agreement to build engines in Japan for world champions Red Bull and sister team AlphaTauri but that will end in […]
Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union’s pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc’s executive has said. The global Basel Committee of banking regulators from the world’s main financial centres has set a January 2025 deadline for implementing capital requirements for […]
Uber Technologies said on Monday it will introduce electric vehicles (EVs) in India for ride-sharing, its first move to adopt clean cars amid an Indian government push for greater electrification of public transport and shared mobility. With plans to introduce 25,000 EVs over three years, Uber is stepping up competition with local rival BluSmart, an electric […]
Meta Platforms on Sunday announced that it is testing a monthly subscription service, called Meta Verified, which will let users verify their accounts using a government ID and get a blue badge, as it looks to help content creators grow and build communities. The subscription bundle for Instagram and Facebook, to be launched later this week, […]
Telecoms gear maker Ericsson plans to cut about 1,400 jobs in Sweden as part of a broader plan to reduce costs globally, it said on Monday. The company had earlier announced plans to cut costs by 9 billion crowns ($880 million) by the end of 2023 as demand slows in some markets, including North America. Further job cuts, […]
Pepsico Inc recalled more than 25,000 cases of Starbucks chilled coffee drink after glass was found in some of the bottles, the U.S. Food and Drug administration said in a notice. The voluntary recall, which was initiated on Jan. 28, covers more than 300,000 bottles of the Starbucks frappuccino vanilla chilled coffee drink, the FDA said. The FDA […]
Former U.S. President Jimmy Carter has decided to receive hospice care and “spend his remaining time at home with his family” instead of additional medical intervention, the Carter Center said on Saturday. Carter, 98, who has lived longer after leaving the White House than any former president in U.S. history, was a Democrat who served […]
Expected damage to New Zealand’s economy from severe weather over the past three weeks has prompted financial markets to downgrade the outlook for interest rate rises. An initial disaster, flash flooding in Auckland, New Zealand’s largest city, hit on Jan. 27. Then on Feb. 12 to 15 a cyclone hit the North Island, which includes […]
The United States will provide an additional $100 million dollars for earthquake response in Turkey and Syria, the U.S. State Department said on Sunday, adding to the $85 million previously approved. President Joe Biden intends to authorize $50 million for refugee and migration assistance and $50 million in humanitarian assistance to help those affected by […]
