Hungary is ready to give financial support to Audi to allow its Hungarian manufacturing plant to run at full capacity in the wake of the coronavirus pandemic, Prime Minister Viktor Orban was reported as saying on Monday as he visited the plant.
General Electric Co said on Monday David Joyce, the chief executive of the company’s aviation unit, would retire after 40 years with the industrial conglomerate, and would be succeeded by Embraer executive John Slattery.
Tesla Inc.’s (TSLA) China car registrations in May jumped 150% month on month, Reuters reported citing data from auto consultancy LMC Automotive.The U.S. electric vehicle maker’s China registrations, including imported cars, grew to 11,565 in May from 4,633 units in April.Data from the China Passenger Car Association shows sales of Tesla’s Shanghai-made Model 3 sedan hit 11,095 units in May.Still, shares in Tesla continued to fall in Monday’s pre-market trading declining another 3.4% to $903.45 after dropping 3.9% on Friday. Meanwhile, year-to-date the stock has more than doubled.Last week’s start of a downward trend was triggered by two rating downgrades …read more […]
Brazilian planemaker Embraer SA said on Monday it was replacing the head of its commercial aviation unit after a planned deal to have Boeing Co take over that division fell apart in April.
Wall Street was set to drop sharply at the open on Monday as a recent jump in coronavirus cases in China and parts of the United States dashed investor hopes of a quick economic rebound that had powered the Nasdaq to record levels last week.
General Electric Co said on Monday David Joyce, the chief executive of the company’s aviation unit, would retire after 40 years with the industrial conglomerate.
Delta Air Lines has received approval from the Shanghai government to resume flights from June 18, a company spokeswoman said on Monday, paving the way for the carrier to resume services to China after months of suspension due to COVID-19.
United Airlines said on Monday it is securing a $5 billion loan backed by its MileagePlus loyalty program, bringing potential total liquidity to $17 billion, an amount that senior executives said would be enough to carry it through a potential second or third wave of the new coronavirus that could hit the aviation industry.
Passenger revenue at Latin America’s No. 2 airline, Avianca Holdings , has fallen 51% for the year as of early June compared with a year ago, the carrier said, in a look into the dire financial toll that the coronavirus has taken on the company.
Walmart Inc said on Monday it has partnered with e-commerce firm Shopify Inc , as it looks to expand its online marketplace business and cash in on the coronavirus-driven jump in online shopping.
Dr Reddy’s Laboratories Ltd. (RDY) announced that it has entered into a non-exclusive licensing agreement to manufacture and sell Gilead Sciences Inc.’s (GILD) coronavirus drug candidate remdesivir.The agreement grants Dr. Reddy’s the right to register, manufacture and sell Gilead’s investigational drug remdesivir, a potential treatment for COVID-19, in 127 countries including India. Financial terms of the agreement weren’t disclosed.As part of the pact, Gilead will provide technology transfer for the manufacturing of the potential drug. However, Dr. Reddy’s will be in charge of ramping up manufacturing and obtaining regulatory approval for the marketing of remdesivir in respective countries.Gilead’s investigational antiviral …read more […]
Honeywell International Inc, a major supplier of aerospace products, said Monday it launched an unmanned aerial systems business to bet on the autonomous aviation space – drones, air taxis, and unmanned cargo delivery vehicles.
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