Company news
'Bull's-eye' landing caps Boeing's faulty astronaut capsule test mission
Boeing Co's Starliner astronaut spacecraft made a "bull's-eye" landing in the New Mexico desert on Sunday, a successful ending to a crewless test mission that two days earlier failed to reach the orbit needed to dock with the International Space Station.
The 7:58 a.m. ET (1258 GMT) landing at the White Sands desert capped a turbulent 48 hours for Boeing's botched milestone test of an astronaut capsule that is designed to help NASA regain its human spaceflight capabilities.
A software problem on Friday caused the capsule to fail to attain the orbit needed to rendezvous with the space station, another unwelcome engineering black eye for Boeing in a year that has seen corporate crisis over the grounding of its 737 MAX jetliner following two fatal crashes of the aircraft.
Officials from the aerospace company and NASA breathed sighs of relief following the landing, a highly challenging feat."Today it couldn't really have gone any better," Boeing space chief executive Jim Chilton told reporters on Sunday, adding that experts would need weeks to analyze the data from this mission before determining if Boeing could move forward with its plan to send a crewed mission on the craft in 2020. - Nampa/Reuters
From tinsel to turkey, shoppers dream of a 'guilt-free' Christmas
Menstrual cups or wormeries may not top everyone's Christmas wish lists but with the rising tide of anti-consumerism, ethical businesses are hoping to boost sales this year.
Nearly two-thirds of consumers globally prefer to buy from companies that reflect their personal values, according to research firm Accenture. Social enterprises or businesses set up to tackle environmental or social problems such as homelessness or waste see this as an opportunity to cash in at this time of year.
"Any social product is removing the guilt from purchase, which is really the big problem of consumerism that guiltyfeeling," Dave Linton, founder of luggage social enterprise Madlug, told the Thompson Reuters Foundation.
Based in Armagh, Northern Ireland, the business was founded in 2015 to give bags to children in the care system bags to move their belongings between homes rather than using bin bags. Madlug operates a buy-one-give-one model, with a piece of luggage given to a child or homeless person with every purchase. - Nampa/Reuters
BlackRock, Temasek to take majority stake in wealth management
U.S. asset manager BlackRock Inc, Singapore state investor Temasek Holdings (Pte)Ltd and China Construction Bank Corp (CCB) have agreed to set up a wealth management joint venture in China.
A memorandum of understanding has been announced internally within BlackRock and CCB, according to an internal notice seen by Reuters.
The deal comes as China's government continues to open up its financial industry to foreign firms.
On Friday, French asset manager Amundi SA said it had won approval to establish a majority-owned wealth management venture with a unit of Bank of China Ltd.
BlackRock, the world's largest asset manager, and Temasek will own the majority of the new venture due to ownership restrictions of wealth management units by Chinese banks.
CCB, China's second-largest bank by assets after Industrial and Commercial Bank of China Ltd , set up a wholly owned wealth management unit this year and so cannot control another wealth management firm. - Nampa/Reuters
Vimto maker Nichols warns of lower 2020 profit on Saudi, UAE tax
Vimto soft drinks maker Nicholson Monday warned its full-year 2020 pretax profit could be materially below current expectations, citing an excise tax on non-carbonated sweetened drinks in Saudi Arabia and the United Arab Emirates.
The company said it may have to increase retail prices ofits drinks to offset the 50% excise tax and that in turn couldaffect its 2020 performance.
Nichols added that since the tax will be applied on non-carbonated drinks with either natural or artificialsweeteners, product reformulation is not an option. - Nampa/Reuters
Eisai Inc announces U.S. approval for insomnia drug
Japan-based drugmaker Eisai Co's U.S. subsidiary announced on Sunday that it had received approval from the U.S. Food and Drug Administration for its insomnia treatment in adult patients.
The agency approved the drug, Dayvigo, in doses of 5 mg and 10 mg based on two late-stage studies testing the drug inpatients with insomnia versus placebo for up to one month and six months, the drugmaker's U.S. subsidiary said. The treatment belongs to a new class of medications, which target the oxerin system, joining the ranks with Merck & Co's Belsomra, which was approved in 2014.
Dayvigo acts on the neurotransmitter system in the brain to suppress the wake drive, as opposed to existing prescription insomnia medicines, which target the sleep centers of the brain to increase the sleep drive, Eisai said. FDA has recommended Dayvigo to be classified as a controlled substance because it can be addictive and has the potential to be abused.
The recommendation has been submitted to the U.S.Drug Enforcement Administration (DEA), the company said. Following the DEA scheduling of Dayvigo, which usually takes 90 days, Eisai plans to launch the drug by early April of 2020. - Nampa/Reuters
Boeing Co's Starliner astronaut spacecraft made a "bull's-eye" landing in the New Mexico desert on Sunday, a successful ending to a crewless test mission that two days earlier failed to reach the orbit needed to dock with the International Space Station.
The 7:58 a.m. ET (1258 GMT) landing at the White Sands desert capped a turbulent 48 hours for Boeing's botched milestone test of an astronaut capsule that is designed to help NASA regain its human spaceflight capabilities.
A software problem on Friday caused the capsule to fail to attain the orbit needed to rendezvous with the space station, another unwelcome engineering black eye for Boeing in a year that has seen corporate crisis over the grounding of its 737 MAX jetliner following two fatal crashes of the aircraft.
Officials from the aerospace company and NASA breathed sighs of relief following the landing, a highly challenging feat."Today it couldn't really have gone any better," Boeing space chief executive Jim Chilton told reporters on Sunday, adding that experts would need weeks to analyze the data from this mission before determining if Boeing could move forward with its plan to send a crewed mission on the craft in 2020. - Nampa/Reuters
From tinsel to turkey, shoppers dream of a 'guilt-free' Christmas
Menstrual cups or wormeries may not top everyone's Christmas wish lists but with the rising tide of anti-consumerism, ethical businesses are hoping to boost sales this year.
Nearly two-thirds of consumers globally prefer to buy from companies that reflect their personal values, according to research firm Accenture. Social enterprises or businesses set up to tackle environmental or social problems such as homelessness or waste see this as an opportunity to cash in at this time of year.
"Any social product is removing the guilt from purchase, which is really the big problem of consumerism that guiltyfeeling," Dave Linton, founder of luggage social enterprise Madlug, told the Thompson Reuters Foundation.
Based in Armagh, Northern Ireland, the business was founded in 2015 to give bags to children in the care system bags to move their belongings between homes rather than using bin bags. Madlug operates a buy-one-give-one model, with a piece of luggage given to a child or homeless person with every purchase. - Nampa/Reuters
BlackRock, Temasek to take majority stake in wealth management
U.S. asset manager BlackRock Inc, Singapore state investor Temasek Holdings (Pte)Ltd and China Construction Bank Corp (CCB) have agreed to set up a wealth management joint venture in China.
A memorandum of understanding has been announced internally within BlackRock and CCB, according to an internal notice seen by Reuters.
The deal comes as China's government continues to open up its financial industry to foreign firms.
On Friday, French asset manager Amundi SA said it had won approval to establish a majority-owned wealth management venture with a unit of Bank of China Ltd.
BlackRock, the world's largest asset manager, and Temasek will own the majority of the new venture due to ownership restrictions of wealth management units by Chinese banks.
CCB, China's second-largest bank by assets after Industrial and Commercial Bank of China Ltd , set up a wholly owned wealth management unit this year and so cannot control another wealth management firm. - Nampa/Reuters
Vimto maker Nichols warns of lower 2020 profit on Saudi, UAE tax
Vimto soft drinks maker Nicholson Monday warned its full-year 2020 pretax profit could be materially below current expectations, citing an excise tax on non-carbonated sweetened drinks in Saudi Arabia and the United Arab Emirates.
The company said it may have to increase retail prices ofits drinks to offset the 50% excise tax and that in turn couldaffect its 2020 performance.
Nichols added that since the tax will be applied on non-carbonated drinks with either natural or artificialsweeteners, product reformulation is not an option. - Nampa/Reuters
Eisai Inc announces U.S. approval for insomnia drug
Japan-based drugmaker Eisai Co's U.S. subsidiary announced on Sunday that it had received approval from the U.S. Food and Drug Administration for its insomnia treatment in adult patients.
The agency approved the drug, Dayvigo, in doses of 5 mg and 10 mg based on two late-stage studies testing the drug inpatients with insomnia versus placebo for up to one month and six months, the drugmaker's U.S. subsidiary said. The treatment belongs to a new class of medications, which target the oxerin system, joining the ranks with Merck & Co's Belsomra, which was approved in 2014.
Dayvigo acts on the neurotransmitter system in the brain to suppress the wake drive, as opposed to existing prescription insomnia medicines, which target the sleep centers of the brain to increase the sleep drive, Eisai said. FDA has recommended Dayvigo to be classified as a controlled substance because it can be addictive and has the potential to be abused.
The recommendation has been submitted to the U.S.Drug Enforcement Administration (DEA), the company said. Following the DEA scheduling of Dayvigo, which usually takes 90 days, Eisai plans to launch the drug by early April of 2020. - Nampa/Reuters
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