Category: Companies

Airbus Implements A350 Design Change Amid Qatar Airways Feud

LONDON—Airbus has carried out design changes to A350 passenger jets amid a $2 billion dispute with Qatar Airways over surface damage, which spilled over to a debate on security on Thursday. The two companies have been fighting in court for months over the safety impact of flaking paint that exposed corrosion or gaps in a…


Comply With EU Rules or Face Ban, Breton Tells TikTok CEO

STOCKHOLM—Chinese social media company TikTok could face a ban in the European Union if it does not step up efforts to comply with EU legislation before September, the top official overseeing the EU’s internal market told the company’s CEO on Thursday. TikTok needs to bring its business in line with the EU’s Digital Services Act…


US Judge Orders Boeing Arraigned on MAX Fraud Charge

A federal judge on Thursday ordered Boeing Co. to appear in court on Jan. 26 to be arraigned on a 2021 felony charge after families of those killed in two fatal crashes objected to a 2021 plea deal. Boeing won immunity from criminal prosecution as part its $2.5 billion January 2021 Justice Department deferred prosecution…


World Economic Forum Says the Future for Cars Is in the Cloud

The era of cars as the ultimate tool for personal freedom and mobility will, if the future the World Economic Forum (WEF) envisions comes to pass, soon be over. Cars will be something you ask to borrow and the cloud will be taking the wheel. Speaking in Davos, Qualcomm CEO Cristiano Amon said, “the car…


‘Angry Birds’ Maker Rovio Gets Sweetened $738 Million Offer From Playtika

Playtika Holding Corp on Thursday sweetened its offer for Finnish game maker Rovio, best known for its “Angry Birds” franchise, to 683 million euros ($737.50 million), as a consolidation in the industry gathers pace. The offer values each share of Rovio at 9.05 euros, about 60 percent higher than the company’s closing price on Jan….


National Security Officials Worked to Flag Election ‘Misinformation’ for Social Media Companies: Deposition

A newly released document describes how a group of national security officials worked day and night to flag election-related “misinformation” and “disinformation” and provide it to social media platforms, which Missouri Attorney General Andrew Bailey said shows that the Cybersecurity and Infrastructure Security Agency (CISA) has been “weaponized to suppress domestic free speech.” As part of…


Amazon Shuts Down Charity Program as Layoffs Continue

Amazon will discontinue its charity program called AmazonSmiles as the company continues to find ways to cut costs, which have included mass layoffs. The e-retailer’s charity allows shoppers to donate a percentage of eligible purchases on the site to their chosen charity organization. In an announcement, Amazon states it plans to wind down AmazonSmiles by…


Party City Files for Bankruptcy After Lockdown Woes

Party City Holdco. Inc. filed for Chapter 11 bankruptcy protection on Tuesday, citing COVID headwinds. Dwindling sales during the COVID-19 lockdowns, difficulties in maintaining inventory, shortages of helium, and stores closing down could be among factors leading to the filing. The company—which has 800 owned stores and franchises across North America—said in a press release…


Pilots Fail to Cash in on Air Traffic Revival: Global Survey

A global rebound in air travel has brought pilots back to work after a pandemic-induced slump, but many men and women in the cockpit have concerns over salary, a survey on Thursday said. More than half of pilots have not had a salary increase for five years, according to the global survey by aviation industry…


Wall Street Opens Lower Amid Recession Worries

U.S. stock indexes opened lower on Thursday as recession worries resurfaced, while shares of Procter & Gamble fell as it warned of cost pressures. The Dow Jones Industrial Average fell 125.61 points, or 0.38 percent, at the open to 33,171.35. The S&P 500 opened lower by 17.02 points, or 0.43 percent, at 3,911.84, while the…