San Francisco-based McKesson has been warned against distribution of illegitimate drugs to pharmacies by the US Food and Drug Administration (FDA) under the Drug Supply Chain Security Act (DSCSA) in a strongly worded letter to the company.    The FDA had notified McKesson in September...

A line in an advertisement by sportswear company Reebok in Russia has created a huge controversy. The line when translated reads thus: “Sit not on the needle of men’s approval – sit on men’s face.”   This line was posted in the Instagram account of the company but was later deleted a few...

The United States based home and hotel renting platform company Airbnb would potentially face a fine of more than €12.5 million or US$14 million to the City of Paris. According to an interview given to a French newspaper on Sunday by the mayor of Paris, the US firm has violated local norms of...

A report published in the UK newspaper The Sun, Chinese telecom equipment giant Huawei would be blocked from participating in sensitive state projects because of new regulations drawn up by the UK government on foreing investments.   There are a very few firms in the world that have managed...

The department of US electric car maker Tesla that was the worst hit in the second round of job cuts that was implemented in the company to bring down costs was the unit that delivers electric vehicles to North American customers. According to a report published by Reuters citing workers of the...

French shipbuilder Naval Group is striking while the iron is hot, with two large successful contracts signed recently. With its strengthened position on the export market, the builder of the Barracuda- and Scorpene-class subs is getting ready to develop sales worldwide. Up its sleeve, a unique...

The French car maker Renault has said that it is conducting an investigation into the possibility of a personal gain for its scandal-hit former chairman Carlos Ghosn top the tune of about 50,000 euro ($57,000) arising from a sponsorship deal that he had struck with the Chateau de Versailles....

Worried over the reports that put the future of the four-engined A380 aircraft from Airbus, Australia's Qantas Airways announced this week that they are going to cancel their order for eight of the aircraft from the company. The order for the super jumbo jets has been a longstanding one. ...

A profit share valued at $10750 would be given to each of the UAW-represented workers this year, announced the US auto maker General Motors even as the company is under pressure after it announced a significant number of white collar job losses  across North America earlier in the week....

Market and analysts’ expectations in terms of both revenues and profits were exceeded by Google parent Alphabet for the fourth quarter but despite this, the company saw its shares drop by as much as 3 per cent because of concerns among investors of higher spending by the tech giant.  ...

The revenues of smartphone maker Apple Inc dropped by 5 per cent year on year in the first quarter of fiscal 2019 – which also includes the holiday shopping seasons of 2018. The company reported revenues of $84.3 billion and quarterly earnings per share of $4.18.   “Revenue from iPhone...