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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…

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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 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…

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.

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

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 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 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…

Qualcomm Wins EU Antitrust Lawsuit Which Has An Apple Connection

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

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 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

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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The Conversation

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…

MGM Resorts Sells Gold Strike Tunica Operations For $450M

MGM Resorts International (NYSE:MGM) has decided to sell the operations of Gold Strike Tunica to Cherokee Nation Entertainment Gaming Holdings LLC (CNE), a subsidiary of Cherokee Nation Businesses, for $450 million in cash. The company expects net cash proceeds after taxes and estimated fees to be about $350 million. For the twelve months…

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Rebranded McDonald's Restaurants To Reopen In Russia: Reuters

Russia's fast-food scene is in for a massive overhaul as former McDonald's Corp (NYSE:MCD) restaurants are set to reopen under new branding and ownership, Reuters reported. The fast food restaurant chain was opened about three decades ago in early 1990. Recently, MCD entered into a sale and purchase agreement with its existing licensee Alexander Govor…

Here's What This Analyst Has To Say About SEC Probe On Ericsson

Ericsson's (NASDAQ:ERIC) alleged misconduct in Iraq could trigger fines of $100 million to $300 million, Bloomberg quotes from an email by Svenska Handelsbanken analyst Daniel Djurberg. The U.S. SEC initiated a probe into the Ericsson's Iraq connection. Djurberg termed the update as a negative for the share. However, it was no major surprise to the market, Djurberg…

Why Are There Still So Few Women Leaders in Politics?

Women are more likely to hold interim leadership roles in federal politics, but clinching the top role remains elusive

Vladimir Putin's right-hand woman is Valentina Matviyenko, a Ukrainian-born politician who passionately supports his war

She left her Ukrainian village for St Petersburg, dreaming of becoming a scientist. Instead she met a young KGB agent named Vladimir Putin who would eventually change her life.

Here's Why JPMorgan Upgraded Rating On Take-Two Interactive Software

JPMorgan analyst David Karnovsky upgraded Take-Two Interactive Software, Inc (NASDAQ:TTWO) to Overweight from Neutral with a price target of $175, down from $205, following a period of restriction. With the close of the Zynga acquisition, Take-Two now offers a scaled portfolio of mobile games, apart from leading PC/console intellectual property and a pipeline of content set…

Target Hikes Dividend By 20%

Target Corp (NYSE:TGT) has increased its quarterly dividend by 20% to $1.08 per share from the prior quarterly dividend of $0.90. The dividend is payable on September 10, 2022, to shareholders of record at the close of business on August 17, 2022. Target held $1.1 billion in cash and equivalents as of April 30, 2022.…

India's Apollo Global, Reliance Make a Binding Offer For UK's Boots: Bloomberg

Apollo Global Management Inc. (NYSE:APO) and Ambani's Reliance Industries Ltd. led consortium have made a binding offer for Walgreens Boots Alliance Inc.'s (NASDAQ:WBA) international arm, reported Bloomberg, citing people familiar with the matter. The source stated that the proposal values Boots at more than £5 billion ($6.3 billion). Walgreens is seeking a valuation of around £7…

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