Assa Abloy Has Agreed To Sell Its Emtek And Yale Businesses To Fortune Brands For $800 Million

Assa Abloy AB has announced that it will sell its Yale and Emtek lock brands, as well as its residential businesses in the United States and Canada, to Fortune Brands Home & Security  in an all-cash $800 million transaction as it seeks to overcome antitrust opposition in the United States to its acquisition of a…

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Despite Germany’s Exit, Adidas Maintains Its World Cup Sales Forecast

Adidas is down to three of its seven sponsored teams in the World Cup, but the German sportswear company is sticking to its sales forecast for the tournament, according to a spokesperson on Friday following Germany’s shock exit. According to the spokesperson, the company still expects World Cup sales of around 400 million euros ($421…

Additional Payments Being Offered By iPhone Contract Maker Foxconn To Attract New Workers

The largest contract manufacturer of iPhones, Foxconn, is stepping up efforts to recruit workers following unrest at the world’s largest iPhone factory. Employees who successfully refer a friend or family member to work at its Zhengzhou, China plant will receive a $1,000 yuan ($141) bonus. It comes after video of enraged protests at the factory…

Elon Musk Anticipates Neuralink’s Brain Chip Will Begin Human Trials In 6 Months

After missing earlier deadlines, Elon Musk has announced that a wireless brain chip developed by his company Neuralink will begin human clinical trials in six months. The company is working on brain chip interfaces that it claims will allow disabled patients to move and communicate again, with Musk adding on Wednesday that it will also…

Genesis, A Cryptocurrency Broking Firm In The US, Has Stated That It Is Working To Avoid Bankruptcy

Genesis, a cryptocurrency brokerage in the United States, said it was attempting to avoid bankruptcy after Bloomberg reported on Tuesday that the firm’s creditors were organizing with restructuring lawyers to avoid insolvency. According to the report, creditor groups are consulting with law firms Proskauer Rose and Kirkland & Ellis in order to avoid a situation…

Lack Of Trust, Miscommunication, And COVID Restrictions Responsible For Issues At Foxconn’s Chinese iPhone Factory

Within the last few weeks, tens of thousands of employees had left  the world’s largest iPhone factory in Zhengzhou, central China, and violent protests had flared up over a COVID-19 lockdown and uncertainty over hiring bonuses. According to reports, the Foxconn factory in Zhengzhou is Apple’s largest iPhone manufacturer, producing approximately 70% of iPhones globally. A Foxconn source told…

Hydrogen Powered Aircraft Engine Tested By Rolls-Royce And easyJet

Rolls-Royce has announced that it has run an aircraft engine on hydrogen, a world first for the aviation industry, which is considering using the fuel to decarbonize air travel. In a joint project with the airline easyJet, the FTSE 100 engineering firm said the ground test was a “major step towards proving that hydrogen could…

6 Million Less iPhone Pros To Be Produced Due To Turmoil At The China Plant

Disruptions at Apple Inc.’s key manufacturing hub of Zhengzhou are likely to result in a production shortfall of close to 6 million iPhone Pro units this year, according to a Bloomberg report quoting people familiar with assembly operations. The situation at the plant is still fluid, and the estimate of lost production could change, according to…