COMPANY NEWS IN BRIEF

10 July 2020 | Business

Airbus deliveries hit 16-yr low

Airbus deliveries rose 50% in June compared with May and reached their highest level since the coronavirus crisis spread to Europe in March, but the accelerating recovery failed to prevent first-half deliveries from sliding to a 16-year low.

Figures released by the European plane maker late on Wednesday underscored a collapse in aerospace industry fortunes since early this year, hours after Airbus workers facing job cuts staged their first strike in 12 years.

Deliveries rose to 36 aircraft in June from 24 in May and a low of 14 in April. For the first half, deliveries fell by 49% to 196 planes compared with 389 in the same period last year.

Airbus has said it faces an average 40% drop in business over the next two years, forcing it to cut 15 000 jobs, or 11%, of its workforce. Unions oppose compulsory cuts.

Facing a slump in demand, plane makers have been urging airlines to take planes that have already been built in return for agreement to defer others due at later dates. Some aircraft, however, are going straight into storage because travel demand is recovering slowly, experts say. -Nampa/Reuters

Google shuts down cloud project

Alphabet Inc's Google said on Wednesday it has shut down its cloud project named Isolated Region and added that it was not weighing options to offer its cloud platform in China.

Earlier in the day, Bloomberg News reported, citing two employees, that Google had shelved the project in China and other politically sensitive countries in May, partly due to rising geopolitical tensions and the pandemic.

The search engine giant, however, said that the project's shutdown was not due to either of those two reasons and that it has not offered cloud platform services in China.

"Isolated Region" was just one of the paths explored by the company to address requirements related to adoption of cloud technology, a company spokesperson said.

The project aimed to provide cloud services to customers and regulatory bodies around the world. – Nampa/Reuters

Amazon removes Redskins merchandise

Amazon.com Inc is pulling Washington Redskins merchandise from its website, with sellers given 48 hours to review and remove any products flagged by the e-commerce giant, according to a note sent to sellers by the company.

An Amazon spokeswoman confirmed the move by the company. Under mounting pressure from sponsors and Native American rights groups, Washington Redskins owner Dan Snyder said last week he would consider changing the name of the National Football League team whose roots date back to the 1930s.

Controversy over the team's name, which is widely seen as a racial slur against Native Americans, resurfaced in recent weeks amid widespread racial and social justice protests across the United States after the death of George Floyd in police custody.

Amazon's action follows that of other retailers such as Walmart Inc, Target Corp and Nike Inc. Top sponsors, including PepsiCo Inc and FedEx Corp, who have the naming rights to the NFL team's Landover, Maryland, stadium, called for a change last week. – Nampa/Reuters

Facebook suspends disinformation network

Facebook Inc on Wednesday suspended a network of social media accounts it said were used to spread divisive political messages online by employees of Brazilian President Jair Bolsonaro and two of his sons.

The company said that despite efforts to disguise who was behind the activity, it had found links to the staff of two Brazilian lawmakers, as well as the president and his sons, Congressman Eduardo Bolsonaro and Senator Flavio Bolsonaro.

Nathaniel Gleicher, Facebook's head of cybersecurity policy, said the accounts were removed for using fake personas and other types of "coordinated inauthentic behaviour" which violated the company's rules.

He said there was no evidence the politicians themselves had operated the accounts. "What we can prove is that employees of those offices are engaged on our platforms in this type of behaviour," he told Reuters ahead of the announcement on the company's blog.

Facebook said it has also suspended three other networks on Wednesday, including one it attributed to Roger Stone, a long-time friend and adviser of US President Donald Trump. The Brazilian president's office did not immediately respond to a request for comment. – Nampa/Reuters

Total secures US$15.8 bln

French oil major Total has secured US$15.8 billion in funding for its massive liquefied natural gas (LNG) project in northern Mozambique, according to South African lender FirstRand's local unit, FNB Mozambique.

In a press release published on Wednesday, FNB Mozambique said the financing contracts for Total's blockbuster development had been signed on Friday. While this was widely reported in local media at the time, Total has not confirmed the signing.

"FNB... intends to enter other large natural gas projects in Mozambique, just as it entered into Total's financing, in a consortium of 20 banking institutions that granted US$15.8 billion, for which the last contracts were signed last Friday," it said.

FirstRand's corporate and investment banking unit, Rand Merchant Bank (RMB), has previously said it was part of the consortium.

The project, Mozambique LNG, is one of several being developed in the country's extreme north following one of the largest gas finds in a decade off its coast. – Nampa/Reuters

Similar News

 

COMPANY NEWS IN BRIEF

13 hours ago | Business

ArcelorMittal in talks to merge ArcelorMittal SA, the world's largest steelmaker, is exploring a deal to merge its US operations with Cleveland-Cliffs Inc, the...

Nedbank Namibia launches IdentityToday

1 day - 28 September 2020 | Business

PHILLEPUS UUSIKU Nedbank Namibia, in collaboration with the Today Group, the homegrown fintech company, which introduced PayToday, has announced the introduction of IdentityToday. It is...

COMPANY NEWS IN BRIEF

1 day - 28 September 2020 | Business

Kioxia to scrap IPO plan Kioxia Holdings Corp, the world's second-largest memory chipmaker, will scrap plans for an initial public offering (IPO) as tensions between...

DBN seeks interim replacement for Mutumba

4 days ago - 25 September 2020 | Business

OGONE TLHAGEWINDHOEKThe Development Bank of Namibia (DBN) will find a temporary replacement for its senior manager for corporate communications Jerome Mutumba until his return from...

Simplifying relentlessly

4 days ago - 25 September 2020 | Business

Mariselle StofbergNamdeb has over the years been instrumental in skills development, both within the company and nationally. The contribution to national skills development is...

COMPANY NEWS IN BRIEF

4 days ago - 25 September 2020 | Business

Investors interested in BMWChinese state-backed investors are considering taking BMW's main Chinese joint-venture partner Brilliance private, five people with knowledge of the matter told Reuters,...

Toyota appoints Tommi Mäkinen

4 days ago - 25 September 2020 | Business

Toyota Motor Corporation is proud to announce the appointment of Tommi Mäkinen as the Motorsport advisor effective from January 2021 with the aim of further...

The Z badge makes a comeback

4 days ago - 25 September 2020 | Business

Nissan South Africa revealed the next vehicle of its Z-series lineage, the 400Z prototype, just has a striking presence that is not easy to ignore.The...

Everyone will pay tax - Shivute

4 days ago - 24 September 2020 | Business

OGONE TLHAGEWINDHOEKThe newly appointed commissioner of the Namibia Revenue Agency (Namra), Sam Shivute, has vowed to chase after tax defaulters in his new position. “Namra...

Shoprite helps to uplift communities

5 days ago - 24 September 2020 | Business

Julienne van Rooyen - The Shoprite team in collaboration with a multitude of suppliers, targeted the informal settlement of Havana on Saturday in their “Act...

Latest News

DBN supports Omboga powdered spinach...

13 hours ago | Economics

Development Bank of Namibia (DBN) has celebrated the culmination of its support to 2018 Innovation Award winner VNA Foods at the launch of the fledgling...

PG Imalwa faces exit

13 hours ago | Government

WINDHOEKELLANIE SMITWith the term of Prosecutor-General Martha Imalwa ending this year, the Judicial Service Commission (JSC) has advertised the position of the principal state legal...

Namibian link in SA sex...

13 hours ago | Crime

OGONE TLHAGE AND TUYEIMO HAIDULAWINDHOEK/OSHAKATISouth Africa's elite Directorate for Priority Crime Investigation, known as the Hawks, has unravelled a transborder trafficking syndicate, with some of...

Knowledge is not in my...

13 hours ago | Politics

OGONE TLHAGEWINDHOEKIndependent Patriots for Change (IPC) leader Panduleni Itula says he is not open to debating Walvis Bay Urban constituency councillor Knowledge Ipinge, who he...

Remaining powerful through education

13 hours ago | People

Ester Kamati With a key interest in space science and the history of science, watching videos on these topics is Hosea Hashili’s favourite pastime. Hasili...

Libya seeks to revive oil...

13 hours ago | Economics

Libya's National Oil Company said it expected oil production to rise to 260 000 barrels per day (bpd) next week, as the OPEC member looks...

Few options for the voter

13 hours ago | Opinion

With only two months left before the November regional and local authority elections, there seems to be limited political choices for the voter.There remains a...

Join the Jerusalema challenge!

13 hours ago | Events

STAFF REPORTERWINDHOEKIf there's one glimmer of positivity at the moment, it's the team spirit and feeling of unity created by the Jerusalema challenge, which is...

Day of the Namibian Child

13 hours ago | Opinion

Lee-Ann Forbes Being able to go to school and to get free education. And having rights that protect me as a Namibian child. Also being...

Load More