COMPANY NEWS IN BRIEF

BHP workers in Chile to extend talks BHP Group Ltd and the workers union at its Escondida copper mine in Chile said late on Monday they would extend government-mediated contract talks by a day in a last-ditch effort to stave off a strike.The long-running negotiation between the company and the powerful 2 300-member union has global copper markets on edge as demand increases and supply remains tight amid a nascent global recovery from the Covid-19 pandemic.Copper prices soared to record highs earlier this year, giving workers unions additional leverage in negotiations.BHP said in a statement the two parties would continue talks well into the night ahead of an eventual vote by the union.At Escondida, the world's largest mine, memories remain fresh of an historic 44-day stoppage in 2017 that jolted global copper markets and slowed Chile's economic growth. Chile is the world's top copper producer. -Nampa/ReutersPepsiCo to launch alcoholic drinksPepsiCo Inc is planning to launch a Mountain Dew-branded alcoholic beverage in the United States early next year, months after Coca-Cola Co launched its first alcoholic drink in the country.Truly hard seltzer maker Boston Beer Co will develop and make the flavoured malt beverage, which will be called "Hard Mtn Dew". The drink will be citrus flavoured and have an alcohol by volume of 5%, the companies said."We know that adult drinkers' tastes are evolving, and they are looking for new and exciting flavourful beverages," Boston Beer Chief Executive Officer Dave Burwick said. The announcement comes at a time when demand for hard seltzer has slowed. - Nampa/ReutersAmazon to pay shoppers Amazon.com Inc on Tuesday said it would pay customers who suffer injuries or property damage from defective goods others sell on its US platform, in a new policy that could reduce litigation.For years, consumers have sued the world's largest online retailer, arguing it is liable when a merchant sells bad products on Amazon.com. A woman in Pennsylvania, for instance, in 2016 sought to blame Amazon for a merchant's retractable dog leash that blinded her eye when it snapped.Amazon maintains that sellers themselves are responsible, and most courts have ruled in its favour. A state appellate court in California, however, last year said it could be liable for goods it stores and ships via its Fulfilment by Amazon program.Effective Sept. 1, Amazon will pay valid claims of up to US$1 000, which make up more than 80% of injury and damage cases on its platform, at no cost to sellers, and it may step in with more help if sellers are unresponsive, the company said. It also announced Amazon Insurance Accelerator, a network of insurance providers that sellers can access if they choose, and an updated policy requiring more merchants to obtain product liability insurance. Amazon itself is not offering this insurance, it said. -Nampa/ReutersAbu Dhabi's Etihad halves lossAbu Dhabi's Etihad Airways on Tuesday said its core operating losses halved in the first half of the year to US$400 million and that its liquidity position had returned to pre-pandemic levels.The state-owned carrier, which over the past year has accelerated a pre-pandemic restructuring, said it had cut operating costs by 27% to US$1.4 billion in the first half.That was helped by a nearly 40% reduction in the number of aircraft utilized with the airline having grounded aircraft, including its ten Airbus A380 superjumbos. It is also phasing out of its 19 Boeing 777-300s.The airline, which had 64 aircraft in operation in the first half, carried 1 million passengers, down 71.5% from a year ago. The average number of seats filled fell to 24.9%, from 71%.Operating revenue shrank 29.5% to US$1.2 billion, while earnings before interest, taxes, depreciation and amortisation swung to US$100 million from a US$100 million loss the year before.Etihad has operated under tougher restrictions than some other United Arab Emirates carriers since the country lifted a months-long ban on most international travel in the second half of 2020.-Nampa/ReutersModerna to produce vaccine in CanadaModerna Inc said on Tuesday it had agreed with the Canadian government to start domestic production of mRNA vaccines as the country looks to boost supplies to fight respiratory viruses, including Covid-19 and seasonal influenza.Under the memorandum of understanding, Moderna will set up an mRNA vaccine manufacturing facility in Canada and also give access to its mRNA development engine.Scientists believe mRNA has the potential to target diseases that cannot be reached by conventional drugs. Such vaccines, which have shown high efficacy in preventing Covid-19 disease, contain no actual virus, instead providing instructions for human cells to make proteins that mimic part of the coronavirus.Last week, Moderna said its Covid-19 shot was about 93% effective through six months after the second dose, showing hardly any change from the 94% efficacy reported in its original clinical trial. Canada has reported 1.4 million infections and 26 678 coronavirus-related deaths since the pandemic began, according to Reuters tally.The manufacturing facility is expected to be activated on an urgent basis to support Canada with direct access to rapid pandemic response capabilities, Moderna said on Tuesday, adding that it is in talks with other governments about potential collaborations. -Nampa/Reuters

COMPANY NEWS IN BRIEF

Comments

Namibian Sun 2025-07-03

Please login to leave a comment

COMPANY NEWS IN BRIEF

Comments

Namibian Sun 2025-07-03

Please login to leave a comment

Login