Philips has started repairing and replacing its sleep apnea devices in the United States, containing foam that can be hazardous to health. The recall will start this month in virtually all other markets where the healthcare technology group sells those machines. Philips wants to complete the recall within a […]
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World Bank Suspends Payments for Projects in Afghanistan
The World Bank suspends payments for development projects in Afghanistan because of the Taliban takeover of the country. Nevertheless, the institute is an important lender for projects in a very poor country. Since 2002, the World Bank has given more than 5.3 billion dollars in aid to Afghanistan. The […]
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US Aviation Authority is Investigating Safety at Boeing
The Federal Aviation Administration (FAA) will investigate how Boeing handles safety issues. An FAA survey earlier this year found that many of the aircraft manufacturer’s mechanical engineers found it difficult to report problems. Bloomberg reported this based on a letter from the FAA department head responsible for overseeing Boeing. […]
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German Think Tank: Port Congestion Hits China Exports
The export volume in China is expected to decrease this month compared to last month, while imports are likely to stagnate. This is due to the problems in the Chinese port of Ningbo, which was partly closed due to a corona outbreak. That expectation was expressed by the German […]
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Musk and Bezos Appear to Force Satellite Companies into Mergers
Space pioneers Elon Musk and Jeff Bezos’ plans to launch thousands of satellites into orbit are forcing companies in the sector to prepare for consolidation. As a result, the amount involved in acquisitions, investments and joint ventures this year is already higher at 3.6 billion dollars than for the whole […]
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Chinese Economy Recovery Weakens Due to Delta Variant Outbreaks
China’s economic recovery is weakening. This has to do with, among other things, outbreaks of the Delta variant of the coronavirus, for example, which forced ports to close and new lockdowns were imposed. China also suffered from flooding, which put pressure on economic activity. Production in China’s sizeable manufacturing […]
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Online Bulletin Board Reddit Aims to be Worth More Than 10 Billion After Investment Round
Reddit, the online message board where users can chat about various topics, expects to raise $700 million in a new investment round. The company is worth more than $10 billion on paper. Reddit is worth 67 percent more than in the previous capital round in February. In two and […]
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TUI Continues to Suffer Losses But the Number of Bookings for Summer is Increasing
Travel group TUI benefits from extra bookings for the summer holidays. That’s because travel restrictions were relaxed in large parts of Europe as the number of corona infections fell. However, TUI still suffered a significant loss. “Especially in Germany and the rest of continental Europe, the booking figures show […]
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Sea Transport Companies Help Nikkei to Profit
The stock market in Tokyo ended slightly higher on Thursday. In particular, the Japanese sea transport companies were in the spotlight thanks to solid results from container carrier Nippon Yusen. However, concerns about the continued rise in the number of corona infections in Japan limited profits. In Tokyo, where […]
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Microsoft Also Makes Vaccination Mandatory for Employees
The American branch of Microsoft requires employees to be vaccinated if they want to return to the company premises. Employees must be able to demonstrate that they have been vaccinated. The rule goes into effect next month. Microsoft joins the ranks of other major American tech companies such as […]