Swedish home appliance company Electrolux announced on Friday that it is selling its business in Russia, as part of its decision to exit the Russian market entirely The Swedish giant’s Russian company is being bought by the management team. “Electrolux has no production in Russia and will not supply appliances to the divested company,” it […]
Tag: International business news
Russia: August Lada sales up 75% month-on-month
Russian carmaker AvtoVAZ reported a jump in new car sales in August on Friday, as the country’s industry is reeling from Western sanctions over Moscow’s invasion of Ukraine. Car maker Lada announced that it sold 18,087 passenger vehicles during the previous month, a figure that increased by 75.2% compared to July. Although AvtoVAZ’s sales are […]
Norwegian energy group Equinor has fully withdrawn from Russia
Norwegian energy group Equinor said on Friday it had completed its exit from Russia, fulfilling a promise it made after Moscow’s invasion of Ukraine in February to exit the Russian market entirely. Equinor’s move marks the first full, orderly exit of an international oil and gas company from Russia, as pressure mounts for other energy […]
UK: Competition authority gives green light to NortonLifeLock’s acquisition of Avast
Britain’s competition regulator finally approved NortonLifeLock’s takeover of British rival Avast on Friday, signaling the security software market will remain competitive after the $8.6 billion merger of two of the biggest players. The Competition and Markets Authority (CMA) has confirmed the provisional decision it took last month to allow the deal, thus removing the last […]
Lufthansa: Cancels ‘almost all’ of its flights on 9/2 due to pilot strike
German airline Lufthansa today announced the cancellation of “almost all” of its flights to and from the main airports of Frankfurt and Munich tomorrow, Friday, due to a pilot strike. Europe’s biggest carrier will cancel 800 flights through September 2 due to the strike announced last night following negotiations over wage increases, according to a […]
Delta Air Lines: $6 billion in compensation from 2020 for flight cancellations or delays
Delta Air Lines CEO Ed Bastian said the airline has set aside $6 billion for refunds starting in 2020, related to granting compensation for canceling or significantly changing its flight schedule. At the same time, the same airline has launched detailed steps to improve the services provided to its customers. “Since the beginning of 2020, […]
Musk’s SpaceX to launch 5 more astronaut missions to International Space Station
SpaceX will launch five more astronaut missions to the International Space Station (ISS) for NASA by the end of the decade under a contract worth $1.4 billion, the US space agency announced yesterday. The number of space missions for which SpaceX has signed related contracts using the Crew Dragon manned space capsule has now reached […]
The Italian oil company Eni fell victim to hackers
Italian oil giant Eni SpA has fallen “victim” of hackers, as the company’s representative announced on Wednesday, adding however that the consequences so far appear to be minor. “Eni confirms that its internal protection systems have detected unauthorized access to the company’s network in recent days,” the company’s spokesperson said in response to a Bloomberg […]
An Indian who didn’t finish university is the third richest person in the world with a fortune of $137 billion.
A new No. 3 on the list of the world’s richest people is here – even if it is not as well known as the rest of his “roommates” in the upper echelons of global wealth: Indian billionaire Gautam Adani outbid French luxury goods magnate Bernard Arnault on Tuesday. With a fortune of $137 billion, […]
Cologne prosecutors raid JP Morgan headquarters in Frankfurt
The offices of JPMorgan Chase in Frankfurt were raided earlier by Cologne prosecutors as part of their wide-ranging investigation into the Cum-Ex scandal, which cost German taxpayers billions of dollars, Bloomberg reports. The US bank confirmed that officials had visited its offices, noting that it “continues to cooperate with the German authorities as part of […]