Ignition problems in the General Motors cars that supposedly have resulted in 12 deaths and 30 accidents have led to recall of more than 824,000 cars by General Motors. Last month, the company sent out a note to recall 1.6 million cars with industry analysts questioning the delay in recalling the vehicles when the company knew about the defect way back in 2001 itself.
The failure of discussions between the labour union and the management of Toyota Kirloskar over wage concerns has led to the lockdown of two Toyota manufacturing plants in Bangalore. For the last 25 days, production work at two manufacturing units, with the combined production capacity of 3,10,000 units has come to a standstill.
The competition between Google and Microsoft, two giants in the IT industry, seems to be heating up with each one keen on establishing their supremacy in the smartphones sector. This can be deduced from the fact that Microsoft is creating a version of Microsoft Windows that can be used by tablet and smartphone users free of charge.
Post the oil rig explosion in the Gulf of Mexico in 2010, the United States had placed a ban on the British energy giant BP from applying for new contracts. The current decision to allow BP to apply for the new contracts follows a lawsuit filed by the energy major against the US government for its unjust penalty for the 2010 oil spill.
On Wednesday, IATA, the global organization governing the airlines sector, announced that reduced profits were expected for the airline operators in the Asia Pacific region. For the Indian aviation sector, high fuel prices, lower fill rate and the decline in the Indian currency has been termed as the primary reason.
Sun Pharmaceutical Industries Limited, the largest drug maker in India in terms of market value, witnessed a fall in its share price due to an import alert placed on the company by the FDA in the United States. These import restrictions to the United States have been attributed due to non-adherence of manufacturing guidelines in one plant.