Bloomberg Stellantis NV may idle additional car manufacturing plants as it grapples with higher inflation on top of the cost of electrifying its lineup, Chief Executive Officer (CEO) Carlos Tavares said. “If we don’t optimise our cost structure, we cannot absorb the additional cost of electrification,” which risks leading to elevated car prices and a shrinking market, Tavares told reporters …

  Bloomberg International Business Machines Corp (IBM) dropped from the top spot for US patents in 2022, the first time in decades Big Blue hasn’t claimed the most in a year, signalling a strategy shift at the longtime intellectual property leader. IBM’s patent count declined 44% to 4,743 patents in 2022, falling to No. 2 behind Samsung Electronics Co.’s 8,513, …

  Abu Dhabi / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has announced that it has applied financial contributions to private sector companies for failing to achieve the Emiratisation targets stipulated for the year 2022. This is in line with the implementation of the UAE cabinet’s resolution to raise the Emiratisation levels of skilled jobs by 2 percent …