The first customer of Boeing to file a case over the global grounding of its 737 Max planes is a Russian company Avia that leases aircraft. In the lawsuit, Avia alleged that Boeing had misrepresented how safe the plane was to fly and thereby had breached the contract. The company, which had got into a…
The Munich-based Ifo institute said on Monday that a more than expected fall in the levels of confidence among German business was recorded during August. The business confidence index of the firm – which is formed on the basis of a survey of 9000 companies, dropped from 95.7 points in July to 94.3 points this…
The manner in which the tech giant Facebook may profile people has been severely criticized by Germany’s competition authority in what is being viewed by analysts as a clear challenge to the business model of the largest social media platform of the world. Germany’s competition authority has said that the users of Facebook have the…
U.S. tech giants such as Google, Amazon and Facebook routinely generate huge profits from digital services in countries but route the profits through low-tax countries, such as Ireland and Luxembourg, in order to lower their tax profile in the country from which they had generated their revenues. France’s proposal to rectify this anomaly had unnerved…
The deal is expected to close by the end of 2019. In an all-cash deal, Pitney Bowes Inc, an e-commerce solutions firm stated, it would sell its software solutions business to Syncsort, an enterprise software company, for $700 million The deal is expected to close before the end of 2019.
Nvidia’s vComputeServer software will help shuffle data back and forth between data centers and the cloud. In an effort which sees chipmaker Nvidia Corp increasing its footprint in the cloud computing space, it stated has begun collaborating with Amazon.com Inc’s cloud division as well as with VMWare Inc to host artificial intelligence programs in Amazon’s…
Results of a new research that was presented at the American Chemical Society conference in California, San Diego, during the weekend claimed to be successful in deliver cancer medications through the skin via an experimental patch. The initial trials were done on mice and human skin samples. The patch based treatment targeted at melanoma, a…
North Rhine-Westphalia, Germany’s most populous state, is a leading destination for Tesla’s Gigafactory in the EU. According to a report from German news daily Rheinische Post citing sources familiar with the matter at hand, U.S. electric carmaker Tesla is scouting for a location for a factory in the German state of North Rhine-Westphalia (NRW). According…
Ride-hailing firm Grab plans on investing “several hundred million dollars” in Vietnam since it sees the country as its next growth market. Grab unveilled the plan just weeks after it disclosed a $2 billion investment plan for Indonesia. The proposed investment plan marks Vietnam as one of Asia’s fastest growing economy and underscores Grab’s eagerness…
It is more than once that the idea of purchasing Greenland had been floated by United States president Donald Trump. And in response, Trump’s idea has been called as “absurd” by the Danish Prime Minister Mette Frederiksen. The issue has however created a unique diplomatic tension between the two countries. But the growing geopolitical importance…
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