Tag: company

Vaccine maker Novavax says ‘substantial doubt’ over future

WASHINGTON, United States (AFP) — Covid-19 vaccine maker Novavax raised doubts Tuesday about its ability to continue its business, announcing plans to cut spending after struggles in rolling out its coronavirus jab. Shares of Novavax plummeted 25 percent in extended trading, after the company reported fourth-quarter earnings that missed analyst estimates. While the firm should have enough money to fund operations, the situation is “subject to significant uncertainty,” it said in a statement. “Given these […]

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Air France-KLM flies back to profit

PARIS, France (AFP) — French-Dutch airline Air France-KLM said Friday it flew back into profit the in the second quarter for the first time since the coronavirus pandemic, but its performance was hampered by a global shortage of airport staff. “The strong recovery we see this summer is putting the entire aviation industry to the test,” said chief executive Benjamin Smith. “While Air France-KLM had prepared for close to pre-pandemic demand levels, our airlines are […]

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Germany raises gas alert level after Russia dwindles supply

  FRANKFURT, Germany (AFP) — Germany said Thursday it would raise the alert level under its emergency gas plan to secure supply following the recent reduction of pipeline supplies from Russia. “Gas is now a scarce commodity in Germany,” Economy Minister Robert Habeck told reporters. Triggering phase two brings Germany a step closer to the third and final stage that could see gas rationing in Europe’s top economy. Russia was using gas “as a weapon” […]

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Telegram messaging app to launch pay-for services in 2021

  MOSCOW, Russia (AFP) — Encrypted messaging app Telegram will launch pay-for services in 2021, its Russian-born founder Pavel Durov said Wednesday, as the growing company needed “at least a few hundred million dollars per year”. “Telegram will begin to generate revenue, starting next year,” Durov said in a statement. “We will be able to launch countless new features and welcome billions of new users.” Durov, 36, said he did not plan to sell the […]

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The Japan firms behind Mauritius oil-leak ship

by Shingo ITO Agence France-Presse TOKYO, Japan (AFP) — The Japanese firm that operates a ship leaking fuel off the coast of Mauritius has been involved in accidents before, including a 2006 oil spill in the Indian Ocean. Mitsui OSK Lines operates the MV Wakashio, which ran aground on July 25 just off the coast of Mauritius, carrying 4,000 tonnes of fuel that has been seeping into the pristine coral-filled waters of the island nation. […]

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Roche wins US clearance for virus treatment test

ZURICH, Switzerland (AFP) — Swiss pharmaceuticals giant Roche said Thursday the US authorities had given it emergency clearance for a test identifying patients most at risk of a dangerous immune response to coronavirus infection. Some of those worst affected display a very severe inflammatory response to COVID-19 as the body tries to combat the infection but ends up also destroying healthy tissue and even organs such as the kidneys with life-threatening implications. Very ill patients […]

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Amazon becomes most valuable publicly-traded company

NEW YORK, United States (AFP) – Amazon for the first time closed out Monday’s trading session as the world’s biggest publicly-traded company, overtaking Microsoft and other fellow tech behemoths. The online sales goliath assumed the top spot after notching a 3.4 percent gain to finish with a market capitalization of $796.8 billion, about $13.2 billion more than Microsoft. Led by Chief Executive Jeff Bezos, Amazon has seen remarkable growth as its business has spread beyond […]

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Oil market likely to rebalance early 2019: OPEC ministers

KUWAIT CITY, Kuwait (AFP) — Oil ministers from leading OPEC nations said Sunday they expect prices will arrest their recent slide and rebalance early next year, when a deal on new production cuts takes effect. Oil prices have shed more than 36 percent since early October to trade at $54 (47 euros) per barrel, due to fears of oversupply and weak global demand. But president of OPEC and UAE Energy Minister Suhail al-Mazrouei said that […]

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SoftBank aims to raise $23bn on Japan mobile unit IPO

TOKYO, Japan (AFP) — Telecoms giant and technology investor SoftBank Group aims to raise over $23 billion by listing its Japanese mobile unit next week in one of the biggest tech IPOs in years. In a statement, the group confirmed Monday it had formally decided to offer 1.76 billion shares, more than a one-third stake, in the SoftBank Corp mobile unit, with shares priced at 1,500 yen ($13) each. The offering includes 160 million shares […]

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Google workers walk out in global protest over harassment

  by Catherine TRIOMPHE  Agence France Presse NEW YORK, United States (AFP) — Thousands of Google employees joined a coordinated worldwide walkout Thursday to protest the US tech giant’s handling of sexual harassment, staging protests from Singapore to London to New York to the company’s California campus. The “Google Walkout For Real Change” account that sprang up on Twitter on Wednesday called for employees and contractors to leave their workplaces at 11:10 am local time […]

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BMW confirms recall of 323,700 cars across Europe

  FRANKFURT AM MAIN, Germany (AFP) — German luxury carmaker BMW on Wednesday confirmed it would recall 323,700 cars across Europe due to a faulty component that could cause engines to catch fire. Just under a third — 96,300 — of the affected vehicles are in Germany, while 75,000 are in Britain, a BMW spokesman told AFP. Some 23,500 cars in France and 24,700 in Italy are also hit. The Europe-wide recall came after the […]

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Sony upgrades full-year forecast, logs brisk quarterly profit

TOKYO, Japan (AFP) – Sony on Tuesday revised upward its full-year profit and sales forecast, reporting first quarter profits nearly tripled from a year earlier, as it extends a roaring recovery under its new CEO. The electronics and entertainment giant now forecasts 500 billion yen ($4.5 billion) in net profit for the fiscal year to March 2019, up from its earlier estimate of 480 billion yen. Annual sales are now projected to rise slightly, with […]

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