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Pilot Shortage Pushes American Airlines To Quit Services In 4 Cities: CNBC

American Airlines Group Inc (NASDAQ:AAL) plans to discontinue service to four U.S. cities from September. The cities will lose scheduled commercial air service entirely, reported CNBC. AAL blamed the service restrictions on a regional pilot shortage. The report further noted American Airlines, United Airlines Holdings Inc (NASDAQ:UAL), and Delta Air Lines, Inc (NYSE:DAL) have reduced service…

Bidders Offers Value Toshiba Up To $22B: Reuters

Bidders Offers Value Toshiba Up To $22B: Reuters

Potential buyers for Japanese conglomerate Toshiba Corp (OTC:TOSYY) are mulling offering up to 7,000 yen ($51.41) per share, Reuters reported. The offer price, if realized, will value the company at about $22 billion, representing a 27% premium to Toshiba's share price of 5,501 yen as of Wednesday's close. Related: Toshiba Gets Privatization Proposals -…

Adyen, McDonald's Extend Mobile App Partnership To US

Adyen, McDonald's Extend Mobile App Partnership To US

McDonald's Corp (NYSE:MCD) has expanded its mobile app partnership with financial technology platform Adyen (OTC:ADYEY) to the U.S. The two companies began working together in early 2020 in the U.K. and are now expanding to other global markets. Adyen enables customers to pay with their saved payment method on the McDonald's mobile app at the…

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Moderna's Bivalent COVID-19 Booster Shows Antibody Response Against Omicron Subvariants

Moderna Inc (NASDAQ:MRNA) has released new clinical data on its bivalent (omicron) COVID booster candidate, mRNA-1273.214. One month after administration in previously vaccinated and boosted participants, a 50 µg booster dose of mRNA-1273.214 elicited potent neutralizing antibody responses against the omicron subvariants BA.4 and BA.5. The company is working on completing regulatory submissions…

Why Mullen Automotive Shares Are Gaining Today

Mullen Automotive Inc (NASDAQ:MULN) has filed over 130 patents in 24 countries for Mullen FIVE EV Crossover program. The patent applications are related to the design and styling of the Mullen FIVE EV Crossover, covering its exterior and interior design. The patent applications include 19 U.S. design patent filings and 117 international design…

China Sentences Man Linked To Alibaba Employee Sexual Assault Case

A China court sentenced a man to 18 months in prison for being involved in Alibaba Group Holding Limited (NYSE:BABA) female employee sexual assault case, the Global Times reports. The court held Zhang Guo guilty of forcible indecency against a female employee surnamed Zhou of Alibaba Group during a business dinner in July…

Boeing Says Supply Chain Issues To Persist Through Majority Of 2023

Boeing Co (NYSE:BA) expects supply chain problems to persist almost until the end of 2023, led by labor shortages at mid-tier and smaller suppliers, partly due to the faster-than-expected return of demand, reported Reuters, citing BA's chief executive on Wednesday. "The shift from demand to now supply issues ... is remarkable, the…

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Bombardier's Workers On Key Program Vote On Contract Offer Today: Reuters

Bombardier's Workers On Key Program Vote On Contract Offer Today: Reuters

Bombardier Inc (OTC:BDRBF) (OTC:BDRBD) workers on a key program for the Canadian business jet maker will be deciding today whether to accept a new contract offer or walk off the job, reported Reuters. According to the letter seen by Reuters, Bombardier had offered its workers on a key jet program a new…

Toyota Cuts July Production Citing Parts Shortage

Toyota Cuts July Production Citing Parts Shortage

Toyota Motor Corp (NYSE:TM) has cut its July global production plan by 50,000 vehicles due to the parts shortage resulting from the spread of COVID-19. The company expects the global production volume for July to be approximately 800,000 units (250,000 units in Japan and 550,000 units overseas). The auto major has decided to…

Volkswagen Looks To Settle Porsche Buyers' Complaints For Bypassing Emission Norms

Volkswagen Looks To Settle Porsche Buyers' Complaints For Bypassing Emission Norms

Volkswagen AG (OTC:VLKPF) agreed to settle Porsche buyers’ complaints by paying a minimum of $80 million, Bloomberg reports. The buyers alleged improperly skewed emissions and fuel economy test results. Tests proved that fuel economy was one to two miles per gallon lower than the company advertised. Also Read: Will Volkswagen Ever Come Out…

Toyota Stretches Japan Production Cut Citing Chip Shortage

Toyota Stretches Japan Production Cut Citing Chip Shortage

Toyota Motor Corp (NYSE:TM) plans an additional domestic factory line production suspension in June and July. The auto major took the decision citing an auto parts shortage resulting from the spread of COVID-19. The number of units affected by the suspensions will be about 40,000, bringing down the global production plan for June to…

Verizon Slashes Broadband Prices For Domestic Mobile Users By 38%

Verizon Slashes Broadband Prices For Domestic Mobile Users By 38%

Verizon Communications Inc (NYSE:VZ) slashed its home broadband price to $25 a month for wireless customers in select areas where its Fios fiber network and wireless internet service are available. Verizon will launch the plan in over 2,700 cities to customers with premium 5G mobile plans to help them beat the inflation. The…

Boeing Now Has a Liaison To Raise Concerns For Employees Who Work On Behalf Of FAA: WSJ

Boeing Now Has a Liaison To Raise Concerns For Employees Who Work On Behalf Of FAA: WSJ

Boeing Co. (NYSE:BA) has appointed Mark Fava as its new ombudsperson for employees working on behalf of the Federal Aviation Administration, reported WSJ. Fava is a former U.S. Navy officer and airline operations official. According to a Boeing representative, Fava has recently concentrated on regulatory issues concerning the company's commercial…

French Regulator Reaches Truce With Facebook Owner Meta Over Online Ads

France's antitrust watchdog body approved Facebook owner Meta Platforms Inc's (NASDAQ:META) obligations regarding the French online advertising sector. Meta had committed to giving access over five years to advertising inventories and campaign data to adtech companies on 'transparent, objective and predictable' conditions. The watchdog's investigation services raised competition concerns about multiple practices by Meta…

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Black Death pandemic originated in Kyrgyzstan, ancient DNA from plague victims' teeth suggests

DNA analysis of seven people who died in the 14th century suggests the Black Death may have originated in modern-day Kyrgyzstan.

McDonald's Settles French Tax Case For $1.3B: WSJ

McDonald's Corp (NYSE:MCD) has agreed to settle a tax dispute in France by paying about $1.3 billion in fines and back taxes, the Wall Street Journal reported. The fast-food giant has been facing a probe in France over the proper declaration of all its activities. The deal's details are expected to be…

BP Purchases 40% Stake In Green Hydrogen Project In Australia

BP plc (NYSE:BP) is acquiring the largest stake in a vast solar, wind, and green hydrogen project in Western Australia that will cost more than $30 billion to develop, reported Financial Times. The energy company stated that it has agreed to buy 40.5% of the Asian Renewable Energy Hub, which it will…

Pfizer Halts Enrollment In Paxlovid COVID-19 Trial In Standard-Risk Population

Pfizer Inc (NYSE:PFE) shared additional data from the Phase 2/3 EPIC-SR study of Paxlovid (nirmatrelvir and ritonavir tablets) in patients at standard risk for developing severe COVID-19. In previously reported interim analyses, the novel primary endpoint of self-reported, sustained alleviation of all symptoms for four consecutive days was not met. Non-significant 70% relative…

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Qualcomm Wins EU Antitrust Lawsuit Which Has An Apple Connection

Qualcomm Inc (NASDAQ:QCOM) clinched victory against a €997 million ($1.05 billion) penalty slapped by EU antitrust regulators, Reuters reports. The EU imposed the fine four years back for paying Apple Inc (NASDAQ:AAPL) to use only its chips and block out rivals like Intel Corp (NASDAQ:INTC). Also Read: Qualcomm Agrees To Work With Europe's Foundry Partners: Reuters The European Commission…

iQIYI Shares Trade Lower On Reports Of Possible Stake Sale

Baidu, Inc (NASDAQ:BIDU) is exploring selling its controlling stake in iQIYI, Inc (NASDAQ:IQ) at a potential valuation of ~$7 billion, Reuters reports. Baidu, which owns 53% of iQIYI and holds over 90% of its shareholder voting rights, looks to sell all its holdings in China's Netflix, Inc (NASDAQ:NFLX) counterpart. Baidu's targeted valuation of $7 billion represents…

AT&T Braces For Possible Price Hike Citing Inflation Woes Shortly After Verizon

AT&T Inc (NYSE:T) could hike mobile-service prices again to ease the impact of the surging inflation, Bloomberg quotes CFO Pascal Desroches. Inflation pressure is outrunning cost projections, Desroches reasoned. "We're seeing inflation in labor, supplies, energy, and transport. So we're keeping an eye on it," Desroches said at an investor conference. Also Read: This…

EU Urges Pfizer To Further Delay COVID-19 Vaccine Deliveries: Reuters

Amid lower demand, Pfizer Inc (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) agreed to delay supplies of their Covid-19 shot to the European Union. Doses to be shipped from June to August would be sent in September and Q4. Reuters reports that the bloc is putting heat on Pfizer to restrict supplies further. The move comes two weeks after…

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Where the witches were men: A historian explains what magic looked like in early modern Russia

The word “witches” makes many Americans think of women working in league with the devil. But that hasn’t always been the face of sorcery.

Ryanair CEO Expects Summer Rates To Increase By 7-9% Compared To 2019: Reuters

Ryanair Holdings (NASDAQ:RYAAY) Chief Executive Michael O'Leary stated that bookings are strengthening, and he expects summer fares to be between 7% and 9% higher than pre-pandemic levels, reported Reuters. In an interview with Reuters, he predicted that the load factor, a measure of how well an airline fills available seats, should be…

American Airline's Regional Pilots Get Hefty Pay Raises As Competition Heats Up: CNBC

Regional carriers operated by American Airlines Group Inc (NASDAQ:AAL) intend to increase pilot compensation by 50% through the end of August 2024, the latest hint that airlines are willing to pay up in the hopes of ending a pilot shortage that has left some travelers with fewer flight options, reported CNBC. This will…

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