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Airbus cancels jet contract with Qatar amid legal battle over recent deliveries

• Airbus and Qatar Airways have been in a legal fight over recent delivery of Airbus A350s • Qatar Airways complained that the paint on the Airbus A350s was cracking and peeling Airbus SE on Friday sc...

By  Shubhangi On  2022-01-22 02:50:00
Intel to invest $20 billion in Ohio chip manufacturing facility

• The project will create 3,000 permanent jobs and 7,000 construction positions • The mega-site which is around 1,000 acres can house eight "fabs" Intel Corporation (NASDAQ: INTC) to invest more than ...

By  Ishika Dangayach On  2022-01-21 18:25:00
Peloton temporarily halts production of fitness products

• Peloton will also not manufacture Tread treadmill machine for six weeks • Peloton plans to pause Bike production for two months Peloton Interactive Inc (NYSE: PTON) is temporarily halting production...

By  Shubhangi On  2022-01-21 02:57:00
JPMorgan, Goldman reward bankers with large bonuses

• Goldman Sachs increased its annual bonus pool by 40% to 50% • JPMorgan increased its annual bonus pool by 30% to 40% Top U.S. banks Goldman Sachs (NYSE: GS) and JPMorgan Chase (NYSE: JPM) informed i...

By  Shubhangi On  2022-01-21 01:53:00
American, United expect profit in March; warn of increased costs

• American said ticket sales are recovering fast after the drop in early December • United expects profit in the second, third and fourth quarters of this year American Airlines (NYSE: AAL) and United...

By  Shubhangi On  2022-01-21 00:38:00
Biden administration to give 400 million N95 masks for free

• The masks will be available by late next week at pharmacies and health centers • To ensure broad access, three masks will be provided per person The Biden administration announced on Wednesday to gi...

By  Shubhangi On  2022-01-20 01:45:00
Bank of America tops profit estimates on increased loan demand

• Fourth-quarter profit of the bank soared 30% • The bank said it released $851 million in reserves Bank of America (NYSE: BAC) on Wednesday surpassed analysts' expectations as the fourth-quarter prof...

By  Shubhangi On  2022-01-20 00:25:00
Tesla shareholders urge judge to make Musk pay $13B for SolarCity deal

• The lawsuit alleges that Musk coerced board into approving deal for insolvent SolarCity • Tesla stock fell 1% at around $1,040 in afternoon trade Shareholders of electric vehicle giant Tesla Inc (NY...

By  Shubhangi On  2022-01-19 02:54:00
AT&T, Verizon delay 5G rollout after airlines’ outcry

• The Biden administration said it is in talks with airlines, telecom companies and federal agencies regarding the rollout of 5G service • AT&T and Verizon were scheduled to begin the 5G rollout on We...

By  Shubhangi On  2022-01-19 01:11:00
Activision Blizzard fires over dozen employees over sexual harassment allegations

• About 700 reports of sexual misconduct and other issues were collected by Activision since July • The move comes after Activision faces pressure from shareholders, staff and business partners Activi...

By  Shubhangi On  2022-01-18 01:25:00
U.S. FAA clears 45% of plane fleet ahead of 5G deployment

• The interference from 5G could impact low-visibility operations • U.S. airlines have been raising the issue that flights will be severely impacted due to 5G The U.S. Federal Aviation Administration ...

By  Shubhangi On  2022-01-18 00:38:00
Shell says electricity to meet 60% of China's energy use by 2060: Reuters

• Shell anticipates China's power generation would triple to more than 60EJ in 2060, up from 20EJ in 2020 • Solar and wind power to overtake coal in China by 2034, up from 10% now, and to reach 80% by...

By  Ishika Dangayach On  2022-01-17 19:23:00
Google introduces weekly Covid-19 testing policy for employees at workplaces

• Google said anyone coming in contact with a Google office or facility will require a negative molecular test • Employees should report their vaccination status and wear surgical-grade masks at offic...

By  Shubhangi On  2022-01-15 02:38:00
Wells Fargo reports 86% increase in quarterly profits

• Wells Fargo posted revenue of $20.86 billon, a 13% increase from a year ago • Wells Fargo also released $875 million that the bank has kept aside to cover loan losses Wells Fargo & Co (NYSE: WFC) re...

By  Ishika Dangayach On  2022-01-15 00:22:00
Google buys new office in London for $1 billion

• The tech giant aims to accommodate 10,000 staff in the UK, up from the current 6,400 • Google plans to give the site a multi-million-pound overhaul for flexible working patterns Alphabet Inc. (NASDA...

By  Yashasvini On  2022-01-14 22:13:00
Huize Holding Limited announces termination of acquisition of Shengs Life & General

Picture credit: You Tube Huize Holding Limited, (NASDAQ: HUIZ), a leading digital insurance product and service platform for new generation consumers in China, today announced that it has notified Hub...

By  Hemanth On  2022-01-14 10:14:00
Delta reports highest quarterly revenue since late 2019

• Revenue for the quarter was $9.47 billion, beating analysts' expectations of $9.21 billion • Delta expects to turn a profit this year despite a first-quarter loss due to omicron variant Delta Air Li...

By  Shubhangi On  2022-01-14 02:21:00
TSMC intends to boost production by 47% in 2022

• TSMC has kept aside $40-$44 billion in 2022 order to increase its manufacturing capabilities • The company set a long-term target of "53% and higher" for its gross margins Taiwan Semiconductor Manuf...

By  Yashasvini On  2022-01-13 21:53:00
VW reports lowest sales in 10 years in 2021 amid supply woes

• Volkswagen sales fell 8.1% to 4.9 million units, with the biggest drop in China at 14.8% • BMW, on the other hand, made record deliveries of 2.21 million vehicles from the BMW brand Volkswagen Group...

By  Shubhangi On  2022-01-13 01:36:00
Over 8,000 workers at Kroger go on strike for better pay

• The workers at Kroger's King Soopers in Denver started the strike at 7:00 a.m. ET and would continue for three weeks • King Soopers stores remained open as the company hired temporary staff and also...

By  Shubhangi On  2022-01-13 00:31:00
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