International Companies
US government to spend $1.2bn on Merck Covid drug
The US government has committed to spending $1. 2bn on nearly 2m courses of Merck’s experimental Covid treatment, the American drug firm said on Wednesday.
Virgin Galactic stock up 12% after receiving approval from FAA
Virgin Galactic’s shares were trading up 12% in premarket trading on Friday after it announced that the US Federal Aviation Administration had granted the license it needs to fly passengers into space.
DMCS tells messaging apps not to use e2e encryption for minors' accounts
The UK Department of Digital, Media, Culture and Sport (DCMS) has told messaging apps to prevent the use of end-to-end encryption on “child accounts”.
Global economy facing $4trn loss as tourism slumps
The global economy could lose more than $4trn because of the damage Covid-19 has had on international tourism, a United Nations report has warned.
Moderna says Covid-19 vaccine appears effective against variants
Pharma company Moderna announced on Tuesday its Covid-19 vaccine showed promise in a lab setting against coronavirus variants, including the Delta variant that originated in India.
United Airlines places largest ever order for 270 new planes
United Airlines is to significantly expand its fleet after placing the largest combined order in its history, the US carrier said on Tuesday.
EasyJet CEO urges UK govt to ease European travel restrictions
EasyJet boss Johan Lundgren on Tuesday urged the UK government to further relax Covid restrictions on European travel after it delayed a full reopening of the economy until mid July.
Nissan to create thousands of jobs in UK in battery production expansion plan
Nissan is set to announce an expansion of its battery production in Sunderland which will create thousands of jobs for UK workers.
Rockwell Automation to buy Plex Systems for $2.2bn in cash
Rockwell Automation has agreed to buy business software maker Plex Systems for $2. 2bn in cash in a deal that is expected to be immediately accretive to Rockwell operating margins.
Panasonic sells stake in Tesla for $3.6bn
Panasonic sold its stake in electric carmaker Tesla for $3. 61bn, the company announced on Friday.
Innovid plans going public via merger with SPAC
TV tech company Innovid announced its plans on Thursday to go public via a merger with a publicly traded special purpose acquisition company (SPAC).
E-Mart buys eBay's South Korean business for $3bn
South Korean retailer Shinsegae Group's E-Mart announced on Thursday it plans to acquire an 80% stake in eBay’s South Korean business for $3bn.
Volkswagen considers acquiring majority stake in Europcar
German carmaker Volkswagen announced on Thursday that it is considering acquiring a majority stake in car rental company Europcar.
Europcar said to have rejected €2.2bn bid from Volkswagen
Europcar has reportedly rejected a €2. 2bn bid from Volkswagen.
Chinese EV maker Xpeng Motors gets approval for Hong Kong listing
Chinese electric carmaker Xpeng Motors got approval on Wednesday to carry out an initial public offering (IPO) in Hong Kong.
US Commerce Department rescinds banned transactions with TikTok, WeChat
The US Commerce Department said late on Monday it was rescinding a list of prohibited transactions with TikTok and WeChat that were issued during the Trump administration in September.
GlobalFoundries to open chip factory in Singapore
GlobalFoundries announced on Tuesday it will build a new chip manufacturing plant in Singapore in a move to address the ongoing shortage of semiconductor chips around the world.
YouTube wins copyright-infringement case against top EU court
YouTube won on Tuesday a copyright-infringement case in Europe’s top court in but the latest development of an ongoing legal battle with Europe’s creative industry.
Daimler to produce battery cells in-house
German carmaker Daimler AG said it is considering manufacturing its own in-house battery cells, reported Business Insider on Tuesday.
News UK and BT fail to agree potential tie-up
News UK held talks with telecoms giant BT Group about a prospective commercial partnership, it emerged on Tuesday.