Bloomberg Apple Inc has started building its own cellular modem for future devices, a move that would replace components from Qualcomm Inc, Apple’s top chip executive told staff. Johny Srouji, Apple’s senior vice president of hardware technologies, made the disclosure in a town hall meeting with Apple employees, according to people familiar with the comments. Qualcomm shares dropped 4.4% in …

Bloomberg Chinese electric-car maker Nio Inc joined the rush for fundraising among new-energy vehicle manufacturers, capitalising on a 11-fold increase in its share price this year to boost its coffers. The manufacturer is selling 60 million American depositary shares in a follow-on offering, and has the option to sell another nine million, according to a statement. Based on its latest …

Bloomberg Singapore is set to host the world’s first electric-powered air taxi service by the end of 2023, according to Volocopter GmbH, which is developing the vertical-takeoff craft. The German manufacturer is committed to starting operations within three years once it completes flight trials, evaluation and certification in collaboration with the city-state, it said in a statement. Tickets for a …