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Vodafone shares surge 4% after UAE’s telecom firm acquires 9.8% stake
Shares of Vodafone Group plc saw a 4% hike after the UAE-based telecoms company e& made a surprise investment of around USD 4.4 billion in the British multinational telecommunications company. Formerly known as Etisalat, e& confirmed that it was attracted by Vodafone’s management, d... Read More
Emirates narrows annual loss to USD 1.1 billion as travel curbs ease
Dubai’s Emirates Airlines has reportedly cut its losses to USD 1.1 billion from USD 5.5 billion for the FY 2021-22, as travel restrictions eased and aviation capacity extended. The airline’s revenue jumped 91% to USD 16.1 billion even as the rising jet fuel costs threatens... Read More
WeWork renting a 660,000 sq. ft. office in Noida to expand operations
WeWork India, a co-working space company, has reportedly leased 660,000 square feet of office space in a commercial project by Bhutani Group in Noida for the next 15 years. The move echoes company’s expansion plans to meet the increasing demand for flexible workspace. The office tower, whic... Read More
Federal Aviation Administration shifts course for eVTOL authorization
The Federal Aviation Administration (FAA) announced that it had changed course on authorizing pilots for the generation of electric vertical pull off and landing aircraft (eVTOL) but doesn't expect to delay the certification and gain operation approvals. The eVTO... Read More
Tesla halts production at Shanghai unit over China’s supply chain woes
According to an internal memo, EV major Tesla has temporarily halted most of its production at its Shanghai plant due to a lack of parts in China. The country has issued strict lockdowns as a part of its “zero COVID policy” which in turn has severely affected the nation’s supply ch... Read More
IKEA to invest USD 3.2 Bn to revamp stores as online business grows
IKEA’s holding company Ingka Group is reportedly planning to invest USD 3.2 billion (3 billion euros) in new and current stores through 2023, with much of the investments going toward converting its signature out-of-town locations into e-commerce distribution hubs. Confirming the news, Tolg... Read More
Property firms Shaftesbury and Capco in talks for USD 4.3 Bn merger
Leading British real estate firms Capital & Counties Properties plc (Capco) and Shaftesbury plc are reportedly in advanced negotiations concerning a potential all-share merger that would bring London tourist attractions such as Soho and Covent Garden under one roof. As per the agreement, Shaf... Read More
Netflix shareholders file a case over collapsed subscription disclosure
A shareholder complaint has reportedly been filed against Netflix Inc. in a California court, accusing the streaming giant of deceiving the market about its potential to continue growing members in recent months. The lawsuit, which was filed in San Francisco’s federal court, seeks compensation... Read More
Paramount+ to launch in India next year through Viacom18 partnership
Paramount+, the global streaming platform of Paramount Global, will reportedly launch in India next year through a partnership with Indian production company Viacom18 Media Pvt. Ltd. Paramount President and CEO Bob Bakish outlined the global expansion plans for the streaming platform during his a... Read More
First U.S Apple store union election to schedule for June 2 in Atlanta
According to a copy of the stipulated election agreement, Apple Store employees have reached an agreement with the company to hold a union election on June 2nd in Atlanta. The development marks a significant move forward in the employee-led push to join the CWA (Communications Workers of America)... Read More