Nestlé S.A. is one of the largest food and beverage companies in the world by revenue. It is headquartered in Vevey, Switzerland and was established in 1905 after a merger of the Anglo-Swiss Milk Company. It has operations in over 190 countries with about 2,000 brands in its portfolio, including well-known names like Nescafé, Kit…
Hyundai and Kia to Recall 147,110 Vehicles
Hyundai and Kia have issued a recall of 147,000 electric vehicles (EVs) in the US due to a problem with the charging control unit. According to the notice from the National Highway Traffic Safety Administration (NHTSA), the integrated charging control unit (ICCU) responsible for charging the car’s 12-volt backup battery may become damaged and stop…
India: $20 Billion Renewable Energy Plant
Adani Green Energy Limited (AGEL) is India’s largest renewable energy company, founded in 2015 with its headquarters in Ahmedabad, India. It is a subsidiary of Adani Group, a multinational conglomerate founded by Gautam Adani in 1988 as a commodity trading business, which specializes in sea and airport management, electricity generation and transmission, mining, natural gas,…
Intel: $8.5 Billion Semiconductor Investment
The CHIPS and Science Act is a U.S. federal statute enacted by the 117th United States Congress and signed into law in 2022. The act provides around $53 billion in funding to support the growth of domestic research and manufacturing of semiconductors in the United States. According to recent reports, the division will make an…
Bolivia: $451 Million Cocaine Seized
Bolivia, officially the Plurinational State of Bolivia, is a country in South America with a population of 11.4 million residents as of 2019. It is bordered by Brazil, Paraguay, Argentina, Peru, and Chile. According to reports, about 7.2 tons of cocaine valued at $451 million USD was seized by the Bolivian police in the highland…
Unilever to Layoff 7,500
Unilever is a British multinational company. It is one of the largest producers of consumer goods worldwide, founded in 1929 with its headquarters in London, England. Unilever’s products include foods, condiments, ice cream, beauty products, etc., which can be found in about 190 countries. According to reports, Unilever has announced plans to lay off 7,500…
Sweden: Foodora to Launch Drone Delivery
Foodora is an online food delivery brand, a subsidiary of Delivery Hero, the German multinational online food ordering and delivery company. Foodora was founded in 2014 with its headquarters in Stockholm, Sweden. According to reports, Foodora has partnered with Tele2, a mobile connectivity firm, and Aerit, a drone manufacturer, to launch the Foodora Air Drone…
Joann files for Bankruptcy
Jo-Ann Stores, LLC, commonly known as JOANN, is an American haberdashery and mercery based in Hudson, Ohio. It was founded in 1943 and boasts 855 locations, with a specialization in textiles and notions. According to reports, Joann has filed for Chapter 11 bankruptcy protection as a result of declining sales in recent years after the…
Uber: $178 Million Class Action Lawsuit
Uber, the ride-hailing and freight transport company, has reportedly agreed to pay $178 million USD to settle a class action lawsuit by Australian taxi operators and drivers who accused the company of breaking laws requiring taxis and hire cars to be licensed. The lawsuit was filed in 2019 on behalf of 8,000 taxi and hire…
BestBuy Recalls 287,300 Air Fryers
BestBuy has issued a recall of 287,300 Insignia air fryers sold in the United States and Canada due to fire hazards. According to the notice from the US Consumer Product Safety Commission, the handles of the air fryer can overheat and melt or break, which can pose fire and burn risks. The recall affects 187,400…