Companies


    • Banking giants push staff to vaccinate

      Banking giants push staff to vaccinate

      Some banking giants aim to return to normal operations by pushing employees to vaccinate against Covid-19, BBC reported. Morgan Stanley announced that staff and clients will be barred from entering its New York offices if they are not fully vaccinated. The remaining unvaccinated employees will still need to work remotely. The new requirements will become effective next month, in a move aimed to allow waiving Covid-related restrictions.

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    • VW dismisses chip shortage as profit margins remain

      VW dismisses chip shortage as profit margins remain

      The global semiconductor chip shortage is not going to harm the output of German carmaker Volkswagen, Reuters reported. VW announced that previously envisaged profit margins remain unchanged as planned. VW confirmed its profit forecast for 2021 dismissing media reports that supply bottlenecks were likely to decrease output.

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    • YouTube wins key legal battle over copyrights

      YouTube wins key legal battle over copyrights

      US online platform YouTube won a key legal battle in EU Top Court in Luxembourg, Reuters reported. The victory comes as part of the long row over copyrights. In its decision the court ruled in favour of YouTube and stated that online platforms are not liable for users uploading unauthorised works or contents unless the platforms failed to take quick action to remove or block access to the files.

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    • Wizz Air eyes recovery next year

      Wizz Air eyes recovery next year

      The low-cost carrier Wizz Air announced that toughest times linked to the pandemic downturn are already in the past but it still expects to fully recover from the coronavirus driven crisis next year as travel demand rebounds from the pandemic, chief executive Jozsef Varadi said. Speaking at the virtual Paris Air Forum, Varadi repeated recent comments that the Hungary-based airline would fly more seats this summer than it was flying two years ago before the pandemic struck.

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    • Amazon stays on top as world’s most valuable brand

      Amazon stays on top as world’s most valuable brand

      Amazon and Apple are ranked as the world’s most valuable brands, Reuters reported. The ranking is based on Kantar’s BrandZ survey. Still results show that Chinese brands are rising up the leaders list and are more valuable than Europe’s top brands. The e-commerce firm Amazon remained the world's most valuable brand with an estimated value of $684 billion, followed by Apple. The high tech conglomerate is valued at $612 billion and Google at $458 billion ranks third, Kantar said.

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    • Ackman buys 10% of Universal Music for 3.5bn euro

      Ackman buys 10% of Universal Music for 3.5bn euro

      The company of the billionaire investor William Ackman Pershing Square Tontine announced it had sealed a deal to acquire 10% of Universal Music for 3.5 billion euros, Reuters reported. UMG, which is being spun-off by France's Vivendi, will complete its planned Euronext Amsterdam listing in late September.

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    • Volvo teams Northvolt to set a battery gigafactory

      Volvo teams Northvolt to set a battery gigafactory

      The Swedish carmaker Volvo announced plans to join Northvolt in the development of car batteries as demand for electric vehicles is surging, Reuters reported. Under the new tie-up, the to companies will set a research and development centre in Sweden with the ambition to establish a battery gigafactory The project should become operational by 2022 and should produce a potential capacity to up to 50 gigawatt hours (GWh) per year in 2026.

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    • Lufthansa allows digital Covid-19 certificates

      Lufthansa allows digital Covid-19 certificates

      German carrier Lufthansa announced it would allow passengers to use new digital Covid-19 vaccination certificates at check-in for their flights, Reuters reported. Lufthansa confirmed that passengers would be able to show the digital proof of vaccination either on their phones or on a printout when checking in at the airport, and the boarding pass would then be issued.

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    • TikTok pushes ByteDance revenue to $34.3bn

      TikTok pushes ByteDance revenue to $34.3bn

      ByteDance, the company behind the popular video app TikTok posted robust growth in sales, BBC reported. An internal memo released to staff showed that the firm's revenue rocketed by 111% to $34.3bn for 2020. TikTok has been probed in China, US and EU over allegations linked to privacy violations. Still ByteDance posted annual gross profit increase by 93% to $19bn. The memo also showed that ByteDance had around 1.9bn monthly active users across all of its platforms as of December last year.

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