Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

1 Apr 2022

Panasonic Set to Invest $5 Billion on EV Batteries and Supply Chain Software

The Index Today

Panasonic Holdings Corp. is set to employ $4.9 billion (600 billion yen) to fund the enhancement of electric vehicular batteries, supply chain software and other aspects of the organization that are essential to the progress and development of the company.

According to Bloomberg News, the company released a statement revealing that it intends to spend 400 billion yen in areas including EV batteries and an additional 200 billion yen in advanced technological interventions including hydrogen devices for a period of three years until the 2024 financial year. The tech giant is also aiming to gain an accrued profit of 1.5 trillion yen during the same time frame.

Panasonic’s CEO Yuki Kusumi commented on the new development saying that the company “considered what society will look like in 2030 and back-cast from there,” reported Bloomberg News.

Clay pottery with table linens