Electric car maker Rivian has decided to build a new plant in the US for $5 billion to boost sales. The company held its IPO in November and the shares are now trading at more than a third of the offering price. Electric car maker Rivian will build a new plant in the US state of Georgia, according to a statement on the company's website. This will be the company's second facility in the country....

According to the Financial Times (FT), which cites its own sources, the US Treasury Department will add eight more Chinese enterprises to its blacklist for comprehensive surveillance of Uighurs in the Xinjiang Uighur Autonomous Region (XUAR). DJI Technology, the world's largest commercial drone maker, will also be included in the list. The list will be updated soon. It presently has about 60...

US company Meta, which owns the social network Facebook, has acquired the trademark of a bank with the same name in the US for $60 million, media reports citing sources at both firms said. According to a source at regional bank Meta Financial, the bank indicated in a report to regulators that Delaware-based Beige Key had agreed to acquire the rights to its trademark for $60 million. "Beige Key...

Goldman Sachs strategists see no reason to expect a significant fall in the US stock market in the coming months. The S&P 500 index, which includes the 500 largest US companies, rose to an all-time high on Friday. Strategists at investment bank Goldman Sachs said they saw no reason to expect a significant fall in the US stock market in the coming months. Bloomberg wrote about it with reference to...

Bloomberg reports that China Evergrande Group has been pronounced a defaulter, marking the end of the world's most problematic developer's months-long financial drama. The Chinese real estate behemoth has defaulted on its debt payments. Evergrande has been declared in default by Fitch, which has downgraded company to "limited default" due to its inability to pay a $82.5 million coupon when it was...

Volkswagen is still planning an initial public offering for Porsche, the sports car manufacturer. According to Handelsblatt, Porsche might be valued at €45-90 billion as a result of the IPO, with the funds going toward the company's transition to electric vehicle manufacture. Throughout the year, there have been rumors about a prospective Porsche IPO. However, according to Handelsblatt, which...

Tim Cook, the CEO of Apple, struck a $275 billion "secret" arrangement with Chinese officials in 2016 to get around the country's limits on his company's activities. Information reported on this, citing unnamed sources. Apple promised to invest in China's economy in exchange for the authorities' devotion under the five-year pact. After Apple faced a "series of regulatory proceedings" from the...

One of the world's richest men, Jeff Bezos, last year pledged to give $10bn to fight climate change by 2030. He has only paid out $791m of the pledge. On 6 December it was revealed that the billionaire will give a further $443m to climate organisations as part of his Earth Fund. Jeff Bezos, the founder of Amazon Marketplace and Blue Origin, will allocate another $443 million from his Earth Fund...

Saudi oil and gas company Saudi Aramco has agreed to sell 49% in its new subsidiary Aramco Gas Pipelines Company to a consortium led by BlackRock Real Assets in a deal worth $15.5 billion, the company said in a statement. "Saudi Aramco signed a 15.5 billion USD agreement to lease and lease back the (company's) gas pipeline system with a group of companies led by Hassana Investment Company and...