Nearly 40 pct of businesses say cyber incidents are biggest concern in 2020

Tuesday, 28 January 2020

Nearly 40 percent of businesses said that they find cybercrime, IT failure, and data breaches as the most concerning business risks in 2020, according to a new study by Allianz, a European multinational financial services company.The report noted that this is a dramatic rise over the course of the last seven years, when cyber risk ranked just 15th with 6 percent of businesses naming it their number one risk for the year.“The costs of a cyber-incident are rising across the board, a product ...

GM to invest $2.2 bln in Detroit to build electric vehicles

Monday, 27 January 2020

General Motors is spending $2.2 billion to refurbish an underused Detroit factory so it can build a series of electric and self-driving vehicles, eventually employing 2,000 people.GM said in a statement Monday that the factory will start building the company’s first electric pickup late in 2021, followed by a funky-looking self-driving shuttle for GM’s Cruise autonomous vehicle unit.The truck will be the first of several electric vehicles to be built at the plant, which straddles the ...

Boeing’s 777X jetliner successfully completes maiden flight

Sunday, 26 January 2020

Boeing successfully completed on Saturday the maiden flight of the world’s largest twin-engined jetliner as the embattled plane maker steps up competition with European rival Airbus in a respite from a crisis over its smaller 737 MAX. The 777X, a larger and more efficient version of Boeing’s successful 777 mini-jumbo, took off outside Seattle at 10:09 a.m. local time (1809 GMT) and landed at 2:00 p.m. (2200 GMT). Two earlier attempts were called off this week due to high ...

Crisis-hit Boeing considering further production cuts on 787 plane: Source

Friday, 24 January 2020

Boeing, still in crisis mode due to the grounding of the 737 MAX, is considering further production cuts to another key commercial plane, a person close to the matter said Friday.The move could affect the 787 Dreamliner plane, which is bigger than the MAX and was the company’s most-delivered jet in 2019 while MAX deliveries were halted.In October, Boeing trimmed 787 output to 12 from 14 per month, describing the move as necessary given lower orders from China.The company may cut the 787 ...

France reaches deal with US to push ahead with digital tax talks

Thursday, 23 January 2020

French Finance Minister Bruno Le Maire said on Thursday that France had reached an agreement with the United States on the basis for future talks over a global digital tax, at the OECD-level. “We had long talks this morning with the US Treasury Secretary and the OECD Secretary General, and I am happy to announce to you that we have found an agreement between France and the United States, providing the basis for work on digital taxation at the OECD,” Le Maire said at the World ...

Boeing CEO says he expects to resume 737 MAX production before mid-year

Wednesday, 22 January 2020

Boeing chief executive Dave Calhoun told reporters on Wednesday the US planemaker expects to resume 737 MAX production “months” before its forecasted mid-year return to service. The company announced a production halt in December, when the global grounding of the fast-selling 737 MAX following two deadly crashes in five months looked set to last well into 2020. The company said on Tuesday it now expects regulators to approve the plane’s return to service in the middle of the ...

Global deal over digital tax eludes France, US in Davos talks

Wednesday, 22 January 2020

France and the United States failed on Wednesday to agree how to push forward a global rewrite of decades-old cross-border tax rules though they agreed to set aside a bilateral row on digital taxation, France’s finance minister said on Wednesday. Governments from nearly 140 countries aim to give their backing to pursue what would be the biggest overhaul of international tax rules since the 1920s at the end of the month at the Paris-based Organization for Economic Cooperation and ...

Germany launches raids over suspected Mitsubishi diesel emmissions fraud

Tuesday, 21 January 2020

German prosecutors on Tuesday said they were searching business premises across the country as part of an investigation into suspected diesel emissions cheating involving Mitsubishi cars. Frankfurt prosecutors said they had opened a fraud investigation against executives at “an international car group, a subsidiary of an international car dealership and two international car suppliers.” Raids were taking place at 10 commercial sites across Germany including in the states of Hesse, ...

Saudi Arabia inks $164 mln deal with China’s Shen Gong New Materials company

Tuesday, 21 January 2020

Saudi Arabian General Investment Authority signs $164 mln MoU with China’s Shen Gong New Materials to develop a factory for the production of plastic and lighting materials.According to the announcement made on Twitter, the deal will see a business plan aimed at building the project in three phases, with a value of the initial investment at the first stage valued at $164 mln (615 million Saudi riyals).“We’re delighted to announce that #SAGIA has signed a USD 164m MoU with ...

SpaceX to try rocket failure test again after bad weather delay

Sunday, 19 January 2020

Elon Musk’s SpaceX will try again on Sunday to destroy one of its own rockets in a test of a crucial emergency abort system, a day after bad weather forced the company to delay its final milestone test before flying NASA astronauts from US soil. High winds and choppy seas in the area where the spacecraft was expected to splashdown on Saturday delayed the dramatic inflight test of the unmanned astronaut capsule to Sunday, with a longer six-hour launch window starting at 8 am ET ...

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