Business

Airbus mulls reducing 15,000 jobs


Toulouse: Aeronautics, space and related services major Airbus plans to adapt its global workforce as it resizes its commercial aircraft activity in response to the Covid-19 crisis. This adaptation process is expected to result in a reduction of around 15,000 positions no later than summer 2021. "The information and consultation process with social partners has begun...

Huawei, ZTE named national security threats to US


Washington: The US Federal Communications Commission (FCC) designated Chinese telecom companies, Huawei and ZTE as national security risks to America's communications networks, media reports said. "With today's Orders, and based on the overwhelming weight of evidence, the Bureau has designated Huawei and ZTE as national security risks to America's communications networks — and to our...

Pakistan Stock Exchange comes under terror attack


Karachi: Terror struck Pakistan’s economic hub Karachi when terrorists attempted to storm the Pakistan Stock Exchange (PSE) building, which resulted in the deaths of 10 people, including the four militants who were gunned down by law enforcement agencies. The Baloch Liberation Army (BLA), a militant group working out of Afghanistan has claimed responsibility for the...

Fake pilot licence scam: EU bans PIA flights for six months


New Delhi/Islamabad: The European Union has banned Pakistan International Airlines (PIA) for six months over its fake pilot licence scandal, media reports said. The European Union Aviation Safety Agency (EASA) said in an official statement that though the PIA claims that it has grounded all pilots that were part of the list of fraudulent licence...

Indian restaurant vandalized in Santa Fe, New Mexico


Washington, DC: An Indian restaurant in the Santa Fe City of New Mexico, owned by a Sikh, was broken into and vandalized with hate messages scrawled on its walls, a media report said Tuesday. The damage caused to India Palace restaurant is estimated to be worth $100,000, local Santa Fe Reporter said adding that the vandalization...

Hinduja brothers battle over $11 billion family fortune


New Delhi: The Hinduja family is locked in a dispute over the future of the $11.2 billion fortune with ongoing litigation in the UK. Three brothers of the Hinduja Family -- G.P. Hinduja, P.P. Hinduja and A.P. Hinduja -- issued a statement on the litigation issue. "It will be apparent from the Judgment of the High...

White House adviser retracts comments on China deal ‘over’


Washington: White House adviser Peter Navarro has said that the trade deal with China "continues in place" while adding that his earlier comments that the pact was "over" were taken out of context, The Financial Post reported. US President Donald Trump also confirmed Navarro's statement in a tweet that the deal was "fully intact." Hopefully...

Indian fathers and their money-savvy finance lessons


Indian parents have always been financially prudent and there is a lot that one can learn from their father in terms of financial management. Here's a roundup of some valuable lessons one can learn from our fathers, by CRED, a transparent and fully digital credit card payment platform. Practising financial self-reliance: With steady income comes the...

Johnson & Johnson to cease sale of skin-whitening lotions


Consumer-products giant Johnson & Johnson said Friday that it would no longer sell certain products that are advertised as dark-spot reducers but have been used by some purchasers to lighten skin tone. The product lines, Neutrogena Fine Fairness and Clear Fairness by Clean & Clear, were not distributed in the United States but were sold...