AstraZeneca Wins Two Approval Recommendations From EU Agency

The European medicines watchdog has recommended approving AstraZeneca Plc's treatments for a form of heart failure and a lung disorder, the British drugmaker said on Monday. The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) recommended approvin

American Airlines plans to return Boeing 737 Max to service at year-end

American Airlines plans to return Boeing 737 Max jets to service for passenger flights by the end of this year depending on certification of the aircraft from the Federal Aviation Administration (FAA), it said on Sunday.The airline said it will operate a daily 737 Max flight between Miami and New

Budget airline AirAsia X out of money, needs $120 million for restart

Long-haul, low-cost carrier AirAsia X has run out of money and needs to raise up to $120.6 million to restart the airline, deputy chairman Lim Kian Onn said in a newspaper interview published on Saturday.The Malaysian airline, the long-haul arm of AirAsia Group Bhd, said this month it wanted to re

Ryanair Cuts Winter Capacity by Third on New COVID-19 Restrictions

Ryanair is to cut its planned winter capacity by a third due to a wave of travel restrictions imposed by European governments, the airline said on Thursday. The Irish airline, Europe’s largest low-cost carrier, this winter expects to fly 40% of the capacity it flew last year, down from an e

Polish Fashion Retailer LPP Wants to Revive Dividends Next Year

Poland’s biggest fashion retailer LPP aims to pay out dividends next year after deciding against any payout this year, its deputy head Przemyslaw Lutkiewicz said on Friday. LPP, which sells mostly in shopping malls that were temporarily closed and are now being visited by fewer customers th

Samsung Electronics Profit Climbs After Huawei Orders, Phone Recovery

Samsung Electronics Co Ltd said its third-quarter profit likely jumped 58% to the highest in two years, beating analysts’ estimates as US restrictions on China’s Huawei boosted the South Korean tech giant’s phone and chip sales. US action against Huawei Technologies Co Ltd has d

Puma Shares Dip as Kering Sells 5.9% Stake

Shares in Puma fell 3.5% on Tuesday after French luxury group Kering said it had completed the sale of a 5.9% stake in the German sportswear company for approximately 656 million euros ($772 million). Kering has increasingly focused on its high-margin luxury brands like Gucci, Saint Laurent and B

Airbnb to float IPO of $3 billion

Home rental company Airbnb is aiming to raise around $3 billion in its upcoming initial public offering (IPO), people familiar with the matter said, taking advantage of the unexpectedly sharp recovery in its business after the COVID-19 pandemic roiled the travel industry.Airbnb will be one of the

H&M Plans to Shut Hundreds of Stores by 2021

H&M plans to close hundreds of stores next year as the coronavirus crisis drives more shoppers online, the world's second biggest fashion retailer said on Thursday, after reporting a smaller than expected drop in third-quarter profit. H&M, which over decades expanded its network of shops

Walmart sells Asda for $8.8 billion; Google delays launch

  The British billionaire Issa brothers and private equity group TDR Capital have agreed to buy the British supermarket chain Asda from Walmart for $8.8 billion to take on rivals such as Tesco with new smaller stores.The deal, led by Mohsin and Zuber Issa who founded the petrol station ope

Aramco announces first blue ammonia shipment for low-carbon energy future

Saudi Aramco and the Institute of Energy Economics, Japan (IEEJ), in partnership with chemical manufacturing giant SABIC, have demonstrated the production and shipment of blue ammonia from Saudi Arabia to Japan with support from the Japanese Ministry of Economy, Trade and Industry, the compan

Qatar Airways announces that it has registered heavy losses

Qatar Airways announced today, Sunday, that it recorded huge losses of about two billion dollars for the fiscal year ending March 31. On Sunday, Qatar Airways reported losses of 7 billion riyals, equivalent to 1.92 billion dollars, for the fiscal year ending March 31, according to Reuters. The c

Lufthansa to cut more jobs as it loses €500m a month

 Lufthansa said Monday it will slash more jobs on top of 22,000 previously announced cuts and put more planes out of service with current losses running at some €500 million ($590 million) a month. With demand set to be lower than expected through winter as the coronavirus pandemic cont

Tesla wins case against former employee accused of hacking, transferring data

 U.S. electric carmaker Tesla Inc won its case against a former employee, who was fired for hacking and transferring company data to third parties, according to court documents filed on Thursday. Tesla had filed a lawsuit against Martin Tripp, who formerly worked at the Tesla Gigafactory in

Huawei phone prices rise in China on fears of chip shortage

Chinese consumers are rushing to buy smartphones from Huawei Technologies Co Ltd [HWT.UL] featuring its high-end Kirin chips, fearing curbs on the firm’s access to U.S. technology will soon cut off production of its premium handsets. Phone vendors in Huaqiangbei, the world’s largest e

Hitachi scraps plans for British nuclear plant

Japan's Hitachi Ltd is scrapping plans to build a nuclear power plant in Wales, it said on Wednesday, dealing a blow to UK hopes to replace its ageing plants. The move leaves only France's EDF and China's CGN with building plans in Britain where nearly half the nuclear plants are set to shut down

BMW to use software from Israel's Tactile Mobility in vehicles

Israel's Tactile Mobility said on Tuesday its software will be embedded into the BMW Group’s BMWG.DE next-generation vehicles beginning in 2021. The collaboration will equip BMW vehicles with the ability to analyse the road surface attributes under their tires, enabling detection

Amazon to hire 100,000 more workers in its latest job spree this year Inc on Monday said it is recruiting 100,000 more workers - the fourth hiring spree it has announced for the United States this year - to keep pace with e-commerce demand that jumped during the pandemic. The world’s biggest online retailer said the positions are for full and part-

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