American weapons manufacturer Remington Arms Co. filed for bankruptcy, unable to cope with the debt burden, despite the fact that demand for weapons in the United States has grown significantly amid the riots. The company has filed for bankruptcy under Article 11 of the U.S. Bankruptcy Code and will try to sell the business. This is Remington's second bankruptcy since 2018, when the company also...

US owners of Volkswagen cars have received more than $ 9.8 billion in compensations for damages for the manipulation of data on the content of harmful substances in the exhaust gas of diesel cars of the German company, the US Federal Trade Commission (FTC) said. According to the commission, more than 86% of car owners preferred that VW bought their cars, or terminated the lease ahead of schedule,...

British AstraZeneca Plc and Japanese Daiichi Sankyo Co. agreed to jointly develop the drug DS-1062. The medicine is considered very promising for the fight against a number of oncological diseases. As follows from the statement of the companies, AstraZeneca will pay $ 1 billion for the possibility of developing and testing the drug and up to $ 5 billion - after receiving the result and all the...

A court in India has summoned Alibaba founder Jack Ma to a hearing. The lawsuit was filed by a former employee of the UC Web subsidiary Pushpendra Singh Parmar. He claims he was unfairly fired after he drew attention to the publication of fakes in Alibaba-owned apps, Reuters reports. The ex-UC Web employee claims that the UC Browser and UC News apps were spitting false news "to cause social and...

Facebook has increased the court deal to $ 650 million to settle a class action lawsuit against Illinois residents over the use of facial recognition technology, Bloomberg reported. Back in January, Facebook executives agreed to pay only $ 550 million. The District Court in San Francisco has expressed doubts about the adequacy of this amount. On Thursday, Judge James Donato said during a video...

Despite the quarantine and a 12% increase in daily users, Twitter's top financials were negative in the last quarter. According to the company's report, its revenue in the second quarter of the year was $ 683 million, which is 19% lower than last year. Analysts surveyed by FactSet expected to see this figure at $ 702 million. The company itself explains such a significant reduction by falling ad...

At the request of the German prosecutor's office, searches were conducted in the offices of Fiat Chrysler and CNH Industrial in Germany, Italy and Switzerland in connection with an investigation into the illegal use of equipment to reduce emissions. According to the Frankfurt prosecutor's office, engines installed in Fiat, Alfa Romeo, Jeep and Iveco cars (manufactured by CNH Industrial) have been...

Sales of Coca-Cola Company fell by 28% in the second quarter of this year compared to last year, follows from the manufacturer's financial report. This is the largest quarterly drop in revenue for the company in at least a decade. The company explains such unsuccessful reporting by the COVID-19 pandemic, due to which bars, restaurants and other catering establishments in many countries of the...

Net profit of the pharmaceutical company Novartis in January-June 2020 increased by 1.6% in annual terms and amounted to $ 4.04 billion, the company said. Earnings per share amounted to $ 1.77 at the end of the reporting period against $ 1.72 a year earlier. Novartis had sales of $ 23.63 billion in six months, up 3.3% from a year ago. In the second quarter, the company's net profit was $ 1.867...