Joby Aviation, the electric air taxi manufacturer, has formally applied for aircraft certification in Australia. The company’s application to Australia’s Civil Aviation Safety Authority (CASA) leverages a bilateral agreement between the U.S. and Australian regulators …
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Google Found Guilty of Antitrust Violations: Judge Rules Search Engine Monopoly Illegal
A US judge has ruled that Google violated antitrust laws by maintaining an illegal monopoly in the search engine market. The ruling, which could lead to a potential breakup of Google’s parent company, Alphabet, is …
Continue readingHoneywell Automation India Q1 Profit Jumps on Order Execution
Honeywell Automation India (HONE.NS) reported a strong first-quarter profit, driven by successful execution of existing orders, particularly legacy projects. The company, a subsidiary of US-based Honeywell International, saw a 32% year-on-year profit increase, reaching 1.37 …
Continue readingBioNTech Shifts Focus to Cancer Treatments Amidst COVID-19 Vaccine Sales Slump
German drugmaker BioNTech, known for its COVID-19 vaccine developed with Pfizer, is facing a significant decline in vaccine sales. This has resulted in a substantial increase in losses during the second quarter, quadrupling compared to …
Continue readingExxonMobil Reports Record $9.2 Billion Profit, Boosts Production Goals
ExxonMobil has announced a record $9.2 billion profit for the second quarter, surpassing analyst expectations. The strong performance was driven by increased oil and gas production, particularly from the recent acquisition of Pioneer Natural Resources. …
Continue readingTruck Makers Go Green: Hydrogen Combustion Engines Offer a Faster Path to Cleaner Transportation
Truck manufacturers, facing pressure to reduce emissions, are embracing hydrogen combustion engines as a quick and cost-effective solution to transition from diesel. While electric batteries are too heavy for long-haul trucking and fuel cells remain …
Continue readingWorldline Shares Plunge on 2024 Outlook Cut Amid Slowing Consumer Spending
Worldline, a French payment technology firm, saw its shares tumble to an all-time low on Thursday after the company cut its 2024 outlook. This move came as a result of weakening consumer spending across Europe …
Continue readingNissan and Honda Join Forces to Develop Software Platform for EVs
Nissan and Honda, Japan’s second and third largest automakers, have announced a strategic partnership to develop a next-generation software platform for electric vehicles (EVs). The collaboration aims to enhance their competitiveness in the rapidly growing …
Continue readingHSBC Boosts Share Buybacks, Upgrades Outlook Amid Rate Cut Fears
HSBC Holdings, Europe’s largest bank, announced a $3 billion share buyback and upgraded its income outlook on Wednesday, a move that defied concerns about potential global interest rate cuts. The news was welcomed by investors, …
Continue readingShimao Group Wins More Time to Avoid Liquidation as Creditors Negotiate Restructuring Deal
Embattled Chinese property developer Shimao Group has been given a lifeline by a Hong Kong court, which adjourned a liquidation hearing until August 12. This decision gives Shimao more time to negotiate a revised restructuring …
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