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Sources: India government asked banks to save Jet, avoid bankruptcy

Tuesday, 19 March 2019

India’s government has asked state-run banks to rescue privately held Jet Airways without pushing it into bankruptcy, as Prime Minister Narendra Modi seeks to avert thousands of job losses weeks before a general election, two people within the administration told Reuters. The finance ministry has in the past year sought regular updates from the banks, led by State Bank of India (SBI), on Jet’s financial health, the people said. In recent months, the banks have provided weekly updates ...

Apple infringed three Qualcomm patents, jury finds

Saturday, 16 March 2019

Mobile phone chip supplier Qualcomm Inc on Friday won a legal victory against iPhone maker Apple Inc, with a jury in federal court in San Diego finding that Apple owes Qualcomm about $31 million for infringing three of its patents. Qualcomm last year sued Apple alleging it had violated patents related to helping mobile phones get better battery life. During an eight-day trial, Qualcomm asked the jury to award it unpaid patent royalties of up to $1.41 per iPhone that violated the patents. The ...

Boeing pauses 737 MAX deliveries in wake of deadly crash

Friday, 15 March 2019

Boeing Co said on Thursday it was pausing deliveries of its 737 MAX aircraft to customers following the grounding of the jetliner around the world, as the world’s largest planemaker responds to its worst crises in years. The 737 MAX has been banned from flying in most countries after an Ethiopian Airlines crash on Sunday that killed all 157 people on board. ALSO READ: Ethiopian Airlines says ‘has flown’ black boxes of crashed Boeing to Paris This was a second deadly ...

NATO takes Huawei security concerns seriously: Stoltenberg

Thursday, 14 March 2019

Security concerns about the role of Huawei in Western 5G telecom infrastructure are to be taken seriously, the head of NATO said on Thursday, as Washington steps up pressure on Europe not to use the Chinese firm. NATO Secretary General Jens Stoltenberg said the 29-member alliance has begun internal consultations on Huawei, which the US says poses a “threat” to Europe. The US and several other Western nations have shut Huawei out of tenders for the development of super-fast ...

Japan bans Boeing 737 MAX planes from its airspace

Thursday, 14 March 2019

Japan’s transport ministry on Thursday said it had banned flights by Boeing Co’s 737 MAX 8 and 9 aircraft from its airspace, the latest country to do so following the Ethiopian Airlines plane crash that killed 157 people. The US Federal Aviation Administration (FAA) on Wednesday joined Europe, China and other nations in suspending 737 MAX flights, citing satellite data and evidence from the scene of the crash for its decision. Also, Oman and the United Arab Emirates barred flights by ...

Lawyers for Huawei due in US court in Iran sanctions case

Thursday, 14 March 2019

Lawyers for the Chinese electronics giant Huawei are due in court in a US case charging the company with violating Iran trade sanctions. The company is to be arraigned Thursday morning on an indictment filed in federal court in Brooklyn.Prosecutors have accused Huawei of using a Hong Kong front company to trade with Iran in violation of US sanctions. They allege the daughter of the company’s founder lied to banks about those dealings while serving as the company’s chief financial ...

Britain expands airport drone no-fly zones

Wednesday, 13 March 2019

Britain on Wednesday expanded the no-fly zones around airports in response to a spate of drone sightings that temporarily shut down some of London’s biggest hubs. The new law extends the radius around which drone flights are not permitted to five kilometers from one kilometer. Transport Secretary Chris Grayling said penalties will range “from significant fines to a life sentence”. Existing rules ban all drone flights above 122 meters and within 50 meters of buildings and ...

US will not ground Boeing 737 MAX planes after Ethiopia crash

Wednesday, 13 March 2019

The US aviation regulator said on Tuesday it would not ground Boeing 737 MAX planes after a crash in Ethiopia which killed 157 people, bucking a trend of countries around the world that have suspended the aircraft’s operations.The Federal Aviation Administration’s acting administrator Dan Elwell said a review by the body “shows no systemic performance issues and provides no basis to order grounding the aircraft.”The European Union’s aviation safety regulator on ...

Volkswagen vows to build 22 million e-cars over next decade

Tuesday, 12 March 2019

German automaker Volkswagen said Tuesday it plans to ramp up its production of electric vehicles over the next ten years to 22 million and reduce its carbon footprint over vehicle life cycles by 30 percent.Previously, the company said it would aim for 15 million. That was ambitious in itself given that it made fewer than 50,000 battery-only vehicles last year.The company is pivoting to electric vehicles as it seeks to comply with new limits on carbon dioxide emissions in Europe and a push by ...

Singapore, Australia, China, Indonesia ground Boeing 737 MAX 8 as concerns mount

Tuesday, 12 March 2019

Singapore and Australia suspended operations of all Boeing 737 MAX aircraft in and out of their airports on Tuesday, and Indonesia and China grounded their fleets of the US planemaker’s latest model after it suffered a second fatal crash in less than five months.The scare has wiped billions of dollars off the market value of the world’s biggest planemaker, as the Boeing Co share closed 5 percent down on Monday having fallen by as much as 13.5 percent at one point. Nearly 40 percent ...

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