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UPDATE 1-Russia's Sberbank, Mail.Ru to invest $1 billion in online food, taxi venture

Russian internet company Mail.Ru and state lender Sberbank have finalised the terms of a joint food and taxi platform and plan to invest 64.6 billion roubles ($1 billion) in the business, Mail.Ru said on Tuesday. The deal, first revealed in July, should be closed by the end of the year and will hand the firms equal stakes in the joint venture, it said. The move marks a significant step in Sberbank’s pursuit of a stronger presence in Russia’s digital economy and offers competition to the country’s leading technology company, Yandex , which dominates the ride-hailing market. …read more […]

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Toyota says labor officials found it responsible for worker suicide

Toyota Motor Corp on Tuesday said Japanese labor officials have found it responsible for the suicide of an employee, with the Mainichi Shimbun reporting that workplace bullying at the automaker had led to the employee’s death. Toyota City’s labor standards officials had been investigating the 2017 suicide of a Toyota Motor employee, a spokesman at the automaker confirmed to Reuters. …read more […]

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Sales of grounded Boeing 737 MAX pick up steam at Dubai Airshow

Boeing’s 737 MAX took center stage at the Dubai Airshow on Tuesday as the U.S. planemaker prepared to announce orders for dozens of aircraft as it seeks to restore confidence in the jet amid a worldwide grounding, people familiar with the matter said. Boeing was expected to announce the orders, which could be worth $5-6 billion, a day after securing the first firm order for the aircraft since the grounding from Turkey’s SunExpress. Global regulators banned commercial flights of Boeing’s fastest-selling jet in March after two fatal accidents. …read more […]