Author Archives
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Faced with overcapacity and plummeting airfares Delta is pacing its placing of orders for new aircraft as well as their deliveries so as to tune itself more closely with market requirements. Delta Air Lines Inc. has disclosed that it will… Read More ›
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Antitrust regulators in South Korea fine Qualcomm $854 million for violating antirust laws
Qualcomm’s business model under legal scrutiny from regulators across the globe. In a significant development, South Korea’s antitrust regulator have fined Qualcomm $854 million for unfair business practices related to its patent licensing and modem chip sales. This is the… Read More ›
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Panama bans Odebrecht contract midst bribery admission
Odebrecht is facing a ban in winning future contracts in Panama unless it cooperates with Panamian authorities. With Brazil’s Odebrecht having admitted to bribing officials in Panama and other countries to snag government contracts, Panama has stated it will now… Read More ›
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Volkswagen recalls 4481 Golf & Jetta cars in Russia
The move has been initiated by Volkswagen voluntarily. Volkswagen has decided to recall 4,481 Jetta and Golf cars in Russia to mitigate a possible fault in them. Rosstandart, Russia’s standards agency has stated that Volkswagen has voluntarily recalled the affected… Read More ›
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Tesla & Panasonic to co-produce power cells in Buffalo, NY
This development appears is in line with Tesla’s overall strategy of producing Superchargers for its vehicles, PowerWalls for homes and now next-gen solar PV cells. Tesla Motors and Panasonic Corp have disclosed that they will co-produce photovoltaic (PV) cells and… Read More ›
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Boeing bags IranAir deal by giving 50% discount
Following the partial lifting of U.S. led sanctions, Iran presents itself as a huge economic opportunity. While Boeing’s deal has been made possible by outgoing U.S. President Barrack Obama, President-elect Donald Trump is a huge critic of the U.S-Iran nuclear… Read More ›
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Iran opens its North Azadegan and Yadavaran oilfields for development
These oilfields were initially developed by Chinese companies, such as Sinopec and China National Petroleum Corp, however following their lackluster performance which were found wanting, Iranian officials have now thrown open the doors to international players. A per a senior… Read More ›
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Snapchat to acquire Cimagine Media for $30-$40 million
The deal, being Snapchat’s first Israeli acquisition, was supposedly driven by Cimagine Media’s skilled workforce rather than its augmented reality technology. Calcalist financial daily has reported that Snapchat is all set to acquire Cimagine Media, an Israeli augmented reality startup,… Read More ›
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Lockheed Martin to drive down cost of F-35 fighter jet program
The alternative to Lockheed Martin’s F-35 fighter aircraft is Boeing’s F-18, an older generation aircraft which lacks the distinctive stealth capabilities of the F-35. Marillyn Hewson, Lockheed Martin’s CEO has told U.S. President-elect, Donald Trump, that she is committed to… Read More ›
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In a significant first step Airbus to sell 100 aircrafts to Iran
The value of the contract is not expected to exceed $10 billion. In a development that bodes well for Airbus and Iran’s lagging economy, European airplane manufacturer, Airbus, has signed a firm contract to sell 100 jets to Iran’s flagship… Read More ›
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