Electric car maker Tesla Motors and electronics giant Panasonic have signed an agreement to build the world’s biggest plant to produce batteries which will be known as the Gigafactory. “The Gigafactory is being created to enable a continuous reduction in the cost of long range battery packs in parallel with manufacturing at the volumes required to enable Tesla to meet its goal of advancing mass market electric vehicles, “ says Tesla’spress release.
Updated 4 Years ago

China's factory activity grew at its fastest pace in more than two years in July, indicating that the country's economy may be stabilising. The official purchasing managers index (PMI) rose to 51.7, from 51 in June, the National Bureau of Statistics said. The PMI is a key gauge of the sector's health and a reading above 50 indicates expansion.
Updated 4 Years ago

The group made a pre-tax profit of 155m euros ($207m; £123m), compared with a 177m-euro loss a year ago. Iberia, which has been loss-making for a number of years, made a loss of 95m euros. Last week, it signed an agreement to shed an extra 1,427 jobs, IAG chief executive Willie Walsh said.
Updated 4 Years ago

The breaches were first publicised by security blogger Brian Krebson Monday. The companies denied their classified networks had been infiltrated. However, the team that discovered the incidents has given the BBC access to an intelligence report, which indicates hundreds of files were indeed copied. The documents, which were stolen over a period of many months, relate to:
Updated 4 Years ago

The US Federal Bureau of Investigation (FBI) closed down the original online illegal drug market, Silk Road, in 2013. But new figures suggest the trade has actually increased since then. And other research indicates one in four British drug users has accessed hidden websites. 'Big problem'
Updated 4 Years ago

Of all the African fabrics, Kente is arguably the best known. Popularly known as the icon of African heritage around the globe, Kente can be defined by its bold designs, bright colours, multi-coloured patterns and dazzling shapes. Made from African silk, Kente comes from the Ashanti (Akan) word (Kenten), which means basket, because it features a woven look as that of a woven basket and is also inspired by a spider’s web. Kente dates back to 375 years ago in the Ashanti Kingdom of Ghana, where it was worn only by the kings, queens and chiefs. The royals would notably wear their bright coloured Kente cloth to festivals and other important engagements. Over time, Kente found its way among the Ivorians and many other West African countries.
Updated 4 Years ago

Style meets activism? It is fashion like you have never seen before at the 2014 AIDS conference in Melbourne Australia, as Brazilian designer Adriana Bertini showcases a few pieces from original designs inspired and made entirely from condoms. No, that was not a typo, the dresses and necklaces were made from dyed latex/rubber, the one scientists and medical practitioners call the surest way (apart from abstinence of course) to prevent unwanted pregnancy and Sexually Transmitted Infections (STIs) like HIV – the virus that causes AIDS.
Updated 4 Years ago

Union Bank is in a slow start to 2014, as half year profits slid 34.08 percent as the Nigerian lender continues to grapple with increased regulatory induced costs combined with hike in cash reserve requirements by the Central Bank of Nigeria (CBN). It has been tough for bankers since last year as the CBN refused to relax the tightening stance, and also the scrapping of income streams further exacerbated their position.
Updated 4 Years ago

Kouros Capital Group Limited (KCG) has announced that it is making immediate arrangements to bring into Nigeria substantial investment funding for projects in telecommunications, agriculture, banking, oil and gas, and aviation sectors. Led by its chairman, Kouros Jahangiripoor and its executive director, Amir H. Amiri, the KCG management team expressed its strong support for closer Iran-Nigeria industry cooperation and development of more trade between the two countries.
Updated 4 Years ago

Cadbury Nigeria plc, a company in the Fast Moving Consumable Goods sector, recorded a 50 percent profit drop in half year 2014, as top-line performance dwindled. For the first six months of the year, the company’s revenue fell by 12 percent to N15.25 billion from N17.43 billion in the same period of the corresponding year (HY) 2013.
Updated 4 Years ago