Crashes of the Boeing 737 MAX in Ethiopia and Indonesia were caused by errors in the operation of the MCAS system, which was not subjected to independent tests, writes The New York Times, citing sources. US Attorney's Office will find out whether the existing certification process is sufficient to ensure flight safety. The Federal Aviation Administration (FAA), which is responsible for...

The court decided to liquidate the bankrupt French fashion house Sonia Rykiel. At the peak of success, the company owned 400 boutiques, and its founder was called "the queen of knitwear", reports AFP. In May, Sonia Rykiel was declared bankrupt. About ten companies have expressed a desire to acquire the fashion house in recent months, AFP writes. The list of possible investors included Balmain's...

The American manufacturer of electric cars and solar panels Tesla Inc reduced the size of the loss in the second quarter of 2019, but the figure did not meet analysts' expectations. Tesla stock quotes collapsed by 11% during additional trading on Wednesday. Since the beginning of this year, the company's capitalization has fallen by more than 20% to $ 45.43 billion. According to a press release...

Chinese investors clearly like the German Daimler. On July 23, the Beijing Group BAIC (Beijing Automotive Industry Holding) announced purchase of a 5 percent stake in the German automaker. Less than a year and a half ago, Geely from Hangzhou acquired almost a 10 percent stake. From now on, the seventh part of the capital of the manufacturer of Mercedes will be controlled from the PRC. Geely and...

Japanese carmaker Nissan Motor Co Ltd plans to lay off more than 10 thousand employees to improve the company's situation, Reuters reports, citing a source. This will be announced along with the financial results on Thursday, July 25th. Basically, the dismissals will affect foreign enterprises with weak performance. Last year, Nissan's operating profit fell by 45%. In May, the auto concern...

French eyewear firm Optic 2000 is ending the first phase of its development strategy: domestic market domination. Since 2004, it has maintained leadership in France and Switzerland, and is now focusing its efforts towards technological innovation, so as to address the second phase of its development: international markets. What lies behinds the French firm’s success?

American credit bureau Equifax Inc will pay a total of about $ 700 million to settle claims of regulators and customers associated with a large-scale cybersecurity breach, as a result of which hackers could get access to personal data of 145 million people. About $ 425 million of this amount will be used to compensate losses to customers affected by the data leak as well as to provide them with...

Trading at Chinese STAR, Nasdaq-like market, just started. Growth of shares on the new site reached 520%, which exceeded expectations of veteran investors, reports Reuters. The first 25 companies that made their debut on the stock exchange more than doubled their IPO prices on the STAR Market, which is managed by the Shanghai Stock Exchange. Trading in semiconductor manufacturer Anji...

The world's largest software maker Microsoft Corp. sharply increased net profit and revenue in the past fiscal year, and now expects growth rates of more than 10% in the current financial system. At the end of last fiscal year ended June 30, Microsoft's net profit jumped to $ 39.24 billion from $ 16.57 billion a year earlier. Revenue increased to $ 125.8 billion from $ 110.4 billion, according to...