Category: Business

The U.S. Federal Aviation Administration (FAA) has told Boeing Co (BA.N) that its planned 777X is not yet ready for a significant certification step and warned it “realistically” will not certify the airplane until mid- to late 2023. The FAA in a May 13 letter to Boeing seen by Reuters cited a number of issues […]

Volkswagen AG’s (VOWG_p.DE) Mexico unit said on Sunday it expects to restart production of three segments from next week and in July after output was curtailed by a global semiconductor chip supply crunch. “Volkswagen de México is preparing a return to activities for its three manufacturing segments,” the company said in a statement. Automakers including […]

Hong Kong’s Cathay Pacific Airways Ltd (0293.HK) expects to reduce its cash burn to less than HK$1 billion ($128.84 million) a month in the second half of the year, its chief financial officer said. The airline had been burning up to HK$1.9 billion of cash per month in the first half due to crew quarantine […]

German carmaker Daimler is on track to spin off Daimler Truck, the world’s largest truck and bus maker, by the end of the year, its finance chief was quoted as saying on Sunday. “We are right on schedule with the detailed preparations for this complex project and want to float Daimler Truck on the stock […]

Airbus (AIR.PA) has offered to assemble Eurofighter aircraft in Switzerland if Bern picks it for a 6 billion Swiss franc ($6.5 billion) defence contract, a top salesman at the consortium told a Swiss Sunday newspaper. Germany, Italy, Spain and Britain, who make the Eurofighter, have also offered Bern sweeping political cooperation should it win the […]

Johnson & Johnson (JNJ.N) said on Saturday it will pay $263 million to resolve claims it fueled an opioid epidemic in New York state and two of its largest counties. The settlements remove the drugmaker from a jury trial scheduled to begin on Tuesday on Long Island, where several big opioid makers and distributors are […]

Chinese regulators said on Saturday Tesla Inc (TSLA.O) would ‘recall’ nearly 300,000 China-made and imported Model 3 and Model Y cars for an online software update related to assisted driving, with owners not required to return their vehicles. The State Administration for Market Regulation said on its website that the move is linked to an […]