Companies


    • 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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    • US investigates 10 Tesla crash deaths

      US investigates 10 Tesla crash deaths

      The US auto safety agency announced it was investigating accidents with vehicles of leading electric car maker Tesla that had resulted in at least 10 fatalities, Reuters reported. The probe is targeted at the usage of the advanced driver assistance systems and have happened since 2016. The agency had already confirmed some specific Tesla crash investigations but had not previously released a full accounting of all Tesla crashes.

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    • Russia forces tech giants to open local offices

      Russia forces tech giants to open local offices

      Russia passed new legislation targeted at big US techology conglomerstes, Reuters reported. Under the new amendments that were approved by parliament, companies like Facebook and Google must open local offices and that should happen by January 2022. If they fail to do so the firms will face series of punitive actions aimed to keep Russia's internet "sovereignty".

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    • Google hid security bugs to keep up reputation

      Google hid security bugs to keep up reputation

      World's most popular search engine Google found itself under cross fire due to revealed information that the firm's management hid details from shareholders about security bugs to support the reputation of the company, Reuters reported. Shareholders that were kept in the dark have already filed complaints in US court. The lawsuit accuses Google of fraudulently concealing security vulnerabilities, including in its Google+ social network.

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    • Ryanair sues UK over travel lists policy

      Ryanair sues UK over travel lists policy

      UK budget carrier Ryanair announced it would launch legal challenge related to the policy of the British cabinet to use travel light system, BBC reported. More airports and airlines signalled they would join the action. The travel light system is applied to countries and destinations and evaluetes the potential Covid-19 risk.

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