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Last update: Tue, 31 May 2016 09pm

Industries & Sectors

Business & Finance - Industries & Sectors

Adidas sells US apparel firm Mitchell & Ness FRANKFURT: Adidas said it had agreed to sell US sportswear seller Mitchell & Ness, resulting in a one-time gain in a the low to medium double-digit million euro range. The German group said in a statement on Friday it would re-invest the proceeds of the sale into its "Creating the New" strategy."Nostalgia headwear and apparel is not core to this strategy and the sale of Mitchell & Ness will allow us to reduce complexity and pursue our target consumer more aggressively with our core brands," Adidas said in a statement on Friday.The buyer is a newly formed entity primarily owned by US private equity firm Juggernaut Capital Partners.Copyright Reuters, 2016 ...

Business & Finance - Industries & Sectors

Microsoft bans passwords, deemed too easy Microsoft, the world largest software maker is now banning all weak passwords across its services.According to Telegraph, the move came from Microsoft after LinkedIn hack that occurred last week, when 117 million user credentials were leaked.“A hacker was selling a list with 117M usernames and passwords purportedly leaked from LinkedIn. With these kinds of leaks happening almost weekly now, what can a person do to protect themselves? Or if you are an IT admin, what ...

Business & Finance - Industries & Sectors

Roche boosted by trial success with blood cancer drug ZURICH: Roche got a big boost on Friday when a clinical trial testing its new blood cancer drug Gazyva proved successful, lifting prospects for a new medicine that will be pivotal as the Swiss company fights the threat of biosimilar competition. Roche said Gazyva proved significantly better than its older drug Rituxan at delaying the progression of disease in people with previously untreated follicular lymphoma.Clinical trials with the new drug are important in deciding how ...

Business & Finance - Industries & Sectors

Daimler invests 3bn euro in clean diesel technology FRANKFURT: Daimler said it will spend 3 billion euros ($3.35 billion) to curtail diesel exhaust pollution levels by modifying its engines and exhaust treatment systems including through a software update for some Mercedes-Benz passenger cars.The 3 billion euros includes a 2.6 billion euros investment announced in February.Daimler Mercedes-Benz will equip its entire range of diesel cars in Europe with selective catalytic reduction technology and roll out particulate filters for gasoline engines.Daimler said improvements in engine ...

Business & Finance - Industries & Sectors

AstraZeneca potassium drug delayed by manufacturing snag LONDON: AstraZeneca said on Friday US regulators would not approve its new drug for high potassium levels at present due to a manufacturing issue, dealing a blow to a product acquired when it bought ZS Pharma for $2.7 billion last year. Analysts said the drug's launch would now likely be delayed until 2017 after the British drugmaker said the Food and Drug Administration (FDA) had issued a so-called complete response letter (CRL) for ZS-9, or ...

Business & Finance - Industries & Sectors

GM venture to recall over two million cars in China SHANGHAI: US auto giant General Motors (GM) will recall more than two million vehicles produced through a joint venture in China because of an engine component flaw, the firm and officials said.The venture between GM and Shanghai-based SAIC will recall 2.16 million Buick and Chevrolet branded vehicles because their engine valves could corrode after extended use, the company said on Thursday.Business media outlet Caixin reported that the recall was the largest in China so far ...

Business & Finance - Industries & Sectors

The latest iPhone 7 thicker, dual lens and much more iPhone 7, the highly anticipated Apple’s flagship is set to release this September, and not surprisingly the much awaited handset has become a subject of numerous rumors making rounds on the internet.As per the latest, a new set of leaked schematics shows that the iPhone 7 would be similar to its predecessor the iPhone 6s, the newest schematics were released by Czech site letemsvetemapplem.eu. According to 9to5 Mac , the measurements revealed shows the iPhone ...