Author: News Room

An American Airlines flight experienced a “brake anomaly” during its landing last month.Safety investigators determined the plane’s flexible hydraulic lines were not properly connected.The incident is just one in a string of safety accidents that have shocked the industry in recent months. An American Airlines flight that rolled off the runway last month when its braking system malfunctioned had undergone a brake-replacement job just four days prior, investigators said.The February 10 American Airlines flight from Washington, DC, to Dallas experienced a “brake system anomaly” during landing, according to a preliminary National Transportation Safety Board report.The Boeing 737-823 model’s automatic brakes switched from…

By James Pomfret and Greg Torode HONG KONG (Reuters) -Vague provisions in Hong Kong’s new national security law around state secrets and links to foreign entities have put on edge many global businesses in the financial hub, with some consultants and hedge funds updating contingency plans and seeking legal advice in a bid to counter this political risk. Several corporations, worried about data security, are now treating Hong Kong, once a major Asian base for multinationals, in the same way as mainland China and shielding information about the rest of the company from teams there, said an executive with decades…

Nanophase Technologies Corporation (ticker: NANX), a leader in mineral-based and technology-driven health and wellness solutions, reported a decrease in revenue for the fourth quarter of 2023, with figures dropping to $8 million from $8.3 million in the same quarter of the previous year. The company also experienced a net loss of $2.1 million during the period. Despite the downturn, Nanophase expressed optimism about the future, citing strategic investments in restructuring and improvements in manufacturing processes. The company’s subsidiary, Solésence, saw a revenue increase of 9% to $25.2 million in 2023, showcasing the potential for growth. Nanophase’s management remains focused on…

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A popular food delivery app in India has sparked controversy, and an abrupt retreat, after launching an initiative to attract vegetarian customers. Earlier this week, Zomato announced plans to introduce a curation of restaurants that serve only “pure vegetarian food.” This list “will exclude all restaurants which serve any non-veg food item,” the company’s founder and CEO Deepinder Goyal said on X on Tuesday. “Non-veg,” short for “non-vegetarian,” refers to any food that contains meat, poultry or seafood. “India has the largest percentage of vegetarians in the world,” Goyal wrote on X, adding that many of them are “very particular”…

Japan’s National Consumer Price Index (CPI) for February climbed to 2.8% YoY from 2.2% in January, according to the latest data released by the Japan Statistics Bureau on Friday.Further details unveil that the National CPI ex Fresh food arrived at 2.8% YoY in January versus 2.0% prior. The figure was in line with the market consensus.  Market reaction Following the Japan inflation data, the USD/JPY pair is up 0.02% on the day at 151.65.   Inflation FAQs Inflation measures the rise in the price of a representative basket of goods and services. Headline inflation is usually expressed as a percentage change on…

After capitulating on March 19, Bitcoin recovered on March 20. However, while the crypto community expects more rapid gains, even above the all-time highs of around $73,800, Willy Woo, an on-chain analyst, thinks the coin will likely consolidate in the days ahead. SOPR Peaked At An Unusually High Level: Profit-Taking? Taking to X, Woo listed several on-chain metrics, some of which, while supporting prices, are countered by others that might slow down the uptrend. At the top of the list, the analyst notes how the Spent Output Profit Ratio (SOPR) reading is printed out. Related Reading: Leading The Pack: Solana…

Democratic Sen. Bob Menendez of New Jersey announced Thursday he will not run for reelection in the Democratic primary for his US Senate seat, but left open the possibility that he could run as an independent candidate. “I will not file for the Democratic primary this June. I am hopeful that my exoneration will take place this summer and allow me to pursue my candidacy as an independent Democrat in the general election,” Menendez, who is facing bribery and obstruction of justice charges, said in a video posted online. The news comes as Menendez had faced calls to resign, including…

Topline Apollo Global Management has made an $11 billion offer to purchase Paramount Global’s studios, according to the Wall Street Journal, while the entertainment company reportedly weighs another offer from Skydance Media and RedBird Capital Partners. Key Facts The Apollo deal would require Paramount Global to break off its film and television studios, which produced “Mission: Impossible–Dead Reckoning” and “Killers of the Flower Moon” last year, from the rest of the business. The $11 billion offer is significantly higher than Paramount Global’s market cap, which was $7.7 billion as of Tuesday. The news comes about one week after Axios reported…

The health care giant has rarely been this cheap in the recent past By Dilantha De Silva Summary Pfizer PFE is currently faced with the reality of a few patent expiries in the coming years, which are likely to have a notable impact on revenue. With some of Pfizer’s blockbuster drugs facing IP expirations, the company’s success will mostly depend on the strength of its pipeline. Pfizer enjoyed a cash windfall with the success of its Covid vaccine, and the company has been aggressively investing this cash pile in the last couple of years. Pfizer has launched a $4 billion…