05292016Sun
Last update: Sun, 29 May 2016 03am

Industries & Sectors

Business & Finance - Industries & Sectors

Verizon and unions reach tentative deal to end strike NEW YORK: Verizon Communications Inc and unions representing nearly 40,000 wireline workers have reached a tentative deal to end a strike that has stretched for more than month, US Secretary of Labor Thomas Perez said on Friday. Shares in Verizon, the No. 1 US wireless company, jumped as much as 1.2 percent after the announcement and in afternoon trading were up almost 1 percent at $50.62. "The parties are now working to reduce the agreement to writing, after which the proposal will be submitted to CWA and IBEW union members for ratification," Perez said in a statement. Workers will be back on their jobs next week, Perez added. Network technicians and customer service representatives in the company's Fios Internet, telephone and television services units walked off the job on April 13 after contract talks hit an impasse. The action was called by the Communications Workers of America and the International ...

Business & Finance - Industries & Sectors

Japan expands Takata air bag recall by about 7mn vehicles TOKYO: Japan's transport ministry said on Friday automakers will recall about an additional 7 million cars equipped with Takata Corp air bag inflators without a drying agent by March 2019, bringing the total recalled in the country to 19.6 million cars. Japan's latest announcement may further ramp up Takata's potential recall costs if the air bag maker is found to be responsible for the defective inflators.The company is in bailout talks with a number of ...

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 ...

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 ...