August, 2023

• 20 August

  FAA posts move for fixes to Pratt’s A320 engines

  

  BLOOMBERG US aviation regulators outlined inspections needed for potentially faulty parts on some of Pratt & Whitney’s geared turbofan engines that power Airbus SE’s best-selling A320neo model. The directive affects 20 engines on US-registered aircraft, according to a regulatory filing by the Federal Aviation Administration (FAA). The impact on the worldwide fleet will be larger as other nations adopt the ...

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• 20 August

  American Airlines sues Skiplagged over ticket price loophole

  

  BLOOMBERG American Airlines Group Inc sued the travel website Skiplagged, which claims to help passengers save money using loopholes in ticket pricing that the airline alleged are bogus. Skiplagged isn’t authorised to sell American tickets and is deceiving customers into thinking they can book a cheaper flight using “hidden city fares,” according to the federal lawsuit filed in Texas. The ...

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• 20 August

  Amazon imposing fee on sellers who ship products themselves

  

  BLOOMBERG Amazon.com Inc is imposing a new fee on merchants who don’t use the company’s logistics services, a change many of these sellers consider coercive and surprising since the US government is poised to file an antitrust lawsuit against the e-commerce giant. Thousands of third-party merchants who ship products via Amazon’s Seller Fulfilled Prime program will start paying a 2% ...

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• 20 August

  Alibaba unit to hire 2,000 graduates as Big Tech crackdown eases

  

  BLOOMBERG Alibaba Group Holding’s e-commerce arm in China is hiring more than 2,000 graduates amid record youth unemployment and as authorities eased their regulatory crackdown on technology platforms. Taotian Group, the unit which includes Taobao and Tmall, is recruiting the graduates for a range of roles including design, product and data, according to a post on its official recruitment Wechat ...

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• 20 August

  iPhonemaker Hon Hai cuts outlook after mobile demand sags

  

  BLOOMBERG Hon Hai Precision Industry Co now expects 2023 sales to fall after previously forecasting flat revenue, sounding a warning about demand for the devices it makes for Apple Inc and other global firms. Taiwanese company now expects most of its main business segments, including smartphones, to contract “slightly” this quarter and over the entire year, as global economic malaise ...

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• 20 August

  Ola offers e-motorbikes, cheap e-scooters to phase out gas rides

  

  BLOOMBERG Ola Electric Mobility Pvt is expanding its electric two-wheeler lineup — with its first motorbike and cheapest scooter yet — as it seeks to lure buyers away from gasoline-fueled transportation. The Bengaluru-based startup unveiled four premium electric motorbikes, with sales and deliveries starting in December, at an event at its Ola Future Factory in the southern state of Tamil ...

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• 20 August

  Tesla rolls out new base Model S, X for $10,000 less

  

  BLOOMBERG Tesla Inc added new lower-range iterations of the Model S sedan and Model X sport utility vehicle to its lineup that cost $10,000 less than their previous base prices. The Standard Range Model S starts at $78,490 and offers an estimated 320 miles (515 kilometers) of range, while the Standard Range Model X is priced from $88,490 and goes ...

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• 20 August

  Toyota Motor profit tops estimates, sending its shares to all-time high

  

  BLOOMBERG Toyota Motor Corp’s quarterly profit exceeded estimates as improvements in supply of semiconductors and a weak yen helped it capitalise on a global rebound in demand for vehicles. The stock closed at a record high. Operating profit for the three months through June was a record ¥1.1 trillion ($7.7 billion), the world’s No 1 carmaker said in a statement. ...

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• 20 August

  Indonesia’s GoTo cuts loss forecast as cost curbs pay off

  

  BLOOMBERG GoTo Group cut its 2023 loss projection after staunching some of the bleeding in the second quarter, taking the Indonesian internet leader closer to its goal of getting into the black after an era of costly expansion. Its shares rose 6.6% in Jakarta, the biggest gain since June. Indonesia’s largest tech company reported second-quarter adjusted loss before interest, taxes, ...

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• 20 August

  Meet The  ‘Junior Jurors’ Sharjah International  Film Festival committee reveals 22 budding critics

  

  SHARJAH / GULF TIME The leading regional children’s youth film festival, Sharjah International Film Festival for Children and Youth (SIFF) has announced the “Junior Jurors” for 2023. The festival is dedicated to enhancing the media literacy of children and youth, fostering children’s and youth’s creativity and showcasing the very best in filmmaking for, by and about children and young people. ...

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