Norway SWF Open to Changing Employee Routines Post-COVID
Posted on 05/03/2021
NBIM CEO Nicolai Tangen disclosed at a press conference that employees will only be asked to come to work at the office on Tuesdays and Thursdays once the COVID-19 pandemic is over. Norges Bank Investment Management (NBIM) oversees Norway Government Pension Fund Global.
The work policy would also apply to the rest of the employees at Norges Bank, in which NBIM is a part of.
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Can raise $1 billion by June, Vodafone Idea tells lenders
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SORRY UAW: US Automakers Go to Mexico for Electric Vehicle Manufacturing
Posted on 05/01/2021
General Motors (GM), the largest U.S. automaker, decided to have its fifth plant to build its 2023 electric vehicles in Mexico where labor is cheaper and regulations are less cumbersome. General Motors plans to invest more than US$ 1 billion at its manufacturing complex in Ramos Arizpe, Coahuila, Mexico. This is for a new paint shop and innovative technology that will start operations in June 2021. GM will build batteries and electrical components at Ramos Arizpe starting later in 2021. GM sold 2.55 million vehicles in the United States in 2020, but only about 20,000 were EVs, including the Chevy Bolt hatchback. GM thinks it can sell all of its cars with zero emissions by 2035. GMs other EV plants are in: Spring Hill, Tennessee; Factory ZERO in Detroit and Hamtramck, Orion Assembly in Orion Township, and CAMI in Ingersoll, Ontario, Canada.
Apple Wants to Invest $80 Billion More in the U.S. for its 5-Year Plan
Posted on 04/27/2021
Apple Inc. revealed plans to increase investments in the United States. Apple seeks spend around US$ 430 billion in the U.S. over the next 5 years. This is a 20% increase from Apple’s original 5-year goal of $350 billion set in 2018.
Part of this capital expenditure will be geared toward next-generation silicon development and 5G innovation across nine U.S. states. As part of its investments and expansion, Apple plans to invest more than US$ 1 billion in North Carolina and will begin construction on a new campus and engineering hub in the Research Triangle area. Apple will make a US$ 100 million fund to support schools and community initiatives in the greater Raleigh-Durham area and across North Carolina. Apple plans to rapidly expand its teams and operations across other states, including California, Colorado, Massachusetts, New York, Texas and Washington, according to the press release
Vodafone Idea dials pension funds to raise USD 1 billion
The funding is part of the telco’s stated plans to raise an overall Rs 25,000 crore through a mix of debt and equity.
Synopsis
“Vodafone Idea has reached out to the Government Pension Fund Global in Norway and Canada Pension Plan Investment Board (CPPIB), Caisse de Dépôt et Placement du Québec (CDPQ) and OTPP,” said one of the people. “The thought process for now is that this would not be a direct equity deal, but debt which is convertible into equity.”
Vodafone Idea (Vi) has approached pension funds including Norway’s Government Pension Fund Global and three Canadian ones such as Canada Pension Plan Investment Board (CPPIB) to raise around $1 billion (₹6,000-7,000 crore) to keep its flagging India operations afloat, people familiar with the matter said.
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