The second largest cinema chain of the world – Cineworld, was forced to close down all of its cinemas globally because of the coronavirus related restrictions in many countries of the world and it is now in talks with landlords and film studios to try and save as much of cash as possible, until business…
A package worth almost $1 trillion is being committed by Japan to be used for supporting its economy from the hit of the coronavirus pandemic. A 108 trillion yen ($989 billion) relief package was announced by the Japanese Prime Minister Shinzo Abe on Monday. The amount is staggering and is equivalent to about 20 per…
Thousands of Volkswagen car owners of the United Kingdom apparently won the first stage of a High Court action against the German auto giant over the allegations of fitting emission cheating devices in the diesel vehicles manufactured by it. The latest court ruling came after a preliminary hearing in December in which the court was…
An investment of $250 million in Vir Biotechnology Inc., along with collaboration, will be made by British drugmaker GlaxoSmithKline for the development of possible treatment for Covid-19, the disease caused by the novel coronavirus. Following this announcement by the companies, there was a 35 per cent jump in the shares of Vir while a 1…
Dutch brewer Heineken has announced temporary closure of production of its beers at its seven plants in Mexico in order to comply with the containment measures for coronavirus pandemic which has caused concerns about shortage of beer in the country. Heineken’s rival in the Mexican market – Modelo, had also announced similar measures earlier. The…
The largest maker of respirator masks – 3M, is willing to comply with the order of the United States president Donald Trump of manufacturing and supplying of more needed N95 masks that are critically needed in the country, the company said on Sunday. However the company also sounded a caution about not being allowed to…
Following the backing down of Japan’s investment firm SoftBank from an agreement to buy $3bn of WeWork shares, the office space company’s founder and former chief executive, Adam Neumann, has now threatened to sue the Japanese firm – which is incidentally also the biggest investor in WeWork. The deal would have helped Neumann himself sell…
According to the CEO of United States based aircraft maker Boeing has warned that the global airline and the aerospace industry will take years to recoup from the bit of the coronavirus pandemic and has therefore offered its employees buyouts. Voluntary layoff packages with pay and benefits for exiting employees is being offered by the…
For the very first time, from April 9, Walt Disney Co’s Disney+ content will be made available in the Middle East and North Africa in the region’s pay television and online streaming service provider OSN. Dubai-headquartered OSN has signed a “long-term” exclusive distribution rights agreement with Walt Disney. OSN’s Chief Executive Patrick Tillieux declined to…
There is increasing pressure on Amazon and other delivery companies to implement more secure safety measures for workers who are worried about getting infected with coronavirus. A walkout from work over inadequate protection was staged by some workers at the United States food delivery firm Instacart and US and Italian workers at Amazon. Concerns over…
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