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☆ BYD recalls top-selling EVs because of steering component problem
▼ + stars: | 2024-09-30 | by ( ) edition.cnn.com time to read: +1 min

BYD has informed the Chinese regulator it is recalling nearly 97,000 electric vehicles (EVs) due to a manufacturing fault involving a steering control unit that could lead to fire risks, the market regulator said on Sunday. The Chinese automaker is recalling Dolphin and Yuan Plus EVs manufactured in China between November 2022 and December 2023, according to a statement from the State Administration for Market Regulation (SAMR). The company would ask its dealers to install a physical fix in the recalled cars, the SAMR statement added. Dolphin and Yuan Plus were BYD’s two top-selling models in 2023, which in total accounted for 26% of its three million cars sold in the year, according to data from the China Association of Automobile Manufacturers. It recalled a small batch of Tang plug-in hybrids in 2022 due to a defect in the battery pack that could cause fires.

Persons: BYD Organizations: State Administration, Market, Yuan, China Association of Automobile Manufacturers Locations: China

☆ Rivian investor day focuses on cost reductions, efficiencies and next-generation EVs
▼ + stars: | 2024-06-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Shares of the company remain off by roughly 40% this year amid significant cash burn and slowdown in EV sales. Rivian on Thursday reconfirmed its 2024 guidance that included production of 57,000 vehicles and a path to positive gross profit during the fourth quarter, including regulatory credits. It also outlined longer-term growths, such as plans to achieve positive adjusted earnings before interest, taxes, depreciation and amortization in 2027. Volkswagen is expected to use Rivian's electrical architecture and software stack for vehicles beginning in the second half of the decade, Scaringe said Tuesday. A provided image of Oliver Blume, CEO of Volkswagen Group and RJ Scaringe, founder and CEO of Rivian, as the companies announce joint venture plans on June 25, 2024.

Persons: RJ Scaringe, Rivian, Scaringe, Oliver Blume Organizations: Rivian Automotive, Volkswagen Group, Volkswagen

☆ What Rivian's venture with Volkswagen means for the EV maker, broader auto industry
▼ + stars: | 2024-06-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Rivian 's latest partnership with Volkswagen could prove a major boon for investors and the broader auto industry, according to some Wall Street analysts. As part of the plan, Volkswagen will inject $1 billion, followed by an additional $4 billion investment planned by 2026. RIVN 1D mountain Shares pop on Volkswagen venture But Wall Street views the deal as a potential turnaround opportunity that can help limit execution risks and uncertainties surrounding funding that have spooked investors in recent months. Big wins for the auto industry While the venture justifies Rivian's strategy, some on Wall Street anticipate potential big wins for the broader auto industry. He added that the venture also highlights the need for proprietary electronic control units and software.

Persons: Rivian, John Murphy, Ryan Brinkman, Dan Levy, Levy, Wells, Colin Langan, Morgan Stanley's Adam Jonas, Jonas, Tesla, Piper Sandler, Alexander Potter, America's Murphy Organizations: Volkswagen, Bank of America, JPMorgan, Barclays, Bank, Lucid Group Locations: China

☆ Investigation underway into rare, unsafe airliner roll experienced by a Boeing 737 Max
▼ + stars: | 2024-06-14 | by ( Gregory Wallace | ) edition.cnn.com time to read: +1 min

CNN —Federal authorities and Boeing are trying to figure out why a 737 Max 8 experienced a rare, unsafe back-and-forth roll during flight. There were no injuries onboard Southwest Airlines flight 746 on May 25, according to the airline and a preliminary report by the FAA. It is unclear if the damaged unit led to or was a result of the roll. The plane has not flown since landing in Oakland, California after the incident, except to move it to a Boeing facility in Washington state. Southwest told CNN it referred the incident to the FAA and National Transportation Safety Board and is participating in and supporting the investigation.

Organizations: CNN, Federal, Boeing, Max, Federal Aviation Administration, Southwest Airlines, FAA, Southwest, National Transportation Safety Board, NTSB, Authorities Locations: Oakland , California, Washington, Dutch

☆ Toyota has been rocked by a string of scandals — but analysts are unfazed
▼ + stars: | 2024-06-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

A sign is displayed outside a Toyota Motor Corp. dealership on Jan. 30, 2024 in Tokyo, Japan. Toyota Chairman Akio Toyoda apologized Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them. Toyota took the crown with 10.7% market share, while Germany's Volkswagen came in second with a 6% market share. But for Toyota, the top automaker by market share in the world, the latest safety scandal is not the first time it's being investigated for false test data. In April last year, Daihatsu said it had rigged side-collision safety tests carried out for 88,000 small cars, most of those sold as Toyotas.

Persons: Akio Toyoda, Tomohiro Ohsumi, Germany's Volkswagen, that's, Toyota —, Suzuki, Toyoda, Hino Organizations: Toyota Motor Corp, Toyota, Getty, Germany's, Honda, country's Ministry of Land, Transport, Mazda, Suzuki Motor, Yamaha Motor, Corolla Fielder, Corolla, Daihatsu, Citi Locations: Tokyo, Japan, Infrastructure, Tourism

☆ A Southwest Boeing 737 Max experienced a rare but serious 'Dutch roll,' and has now been out of service for 2 weeks
▼ + stars: | 2024-06-14 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

A Boeing 737 Max has been out of service since May 25. The Southwest Airlines jet encountered a rare stability problem called a Dutch roll. AdvertisementA Boeing 737 Max has been out of service for 20 days as officials investigate an in-flight incident. The Southwest Airlines jet was flying from Phoenix to Oakland on May 25 when it ran into a rare but potentially serious problem. The video below shows an aircraft (not the Southwest 737 Max) experiencing a Dutch roll:Luckily, in the Southwest incident, pilots regained control of the 737 Max.

Persons: Max, — Organizations: Boeing, Southwest Airlines, Service, Federal Aviation Administration, Business, Pilots, Southwest, Max, FAA, Alaska Airlines Locations: Phoenix, Oakland, Dutch, Everett , Washington, Southwest

☆ Fisker recalls thousands of Ocean EVs for safety and compliance issues
▼ + stars: | 2024-06-12 | by ( Katie Bartlett | ) www.cnbc.com time to read: +2 min

The Fisker Ocean electric sports utility vehicle (SUV) during AutoMobility LA ahead of the Los Angeles Auto Show in Los Angeles, California, U.S., on Wednesday, Nov. 17, 2021. Electric vehicle startup Fisker announced on Wednesday that it is recalling thousands of Ocean SUVs in North America and Europe due to issues with vehicle software and will roll out an over-the-air software update. The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues. The company said the vehicles do not currently comply with federal vehicle safety standards related to gauges and telltale icons in the cluster display. The company said it informed its dealers of the recalls on May 30 and will notify owners by June 30.

Persons: Fisker, Fisker's Organizations: Los Angeles Auto, Electric, Motor Control Unit, Vehicle Control Unit, Fisker, Reuters, New York Stock Exchange Locations: Los Angeles , California, U.S, North America, Europe, Canada

In flip-flops and shorts, one of the finest soldiers in a resistance force battling the military junta in Myanmar showed off his weaponry. Nearby, electrical innards foraged from Chinese-made drones used for agricultural purposes were arrayed on the ground, their wires exposed as if awaiting surgery. Other parts needed to construct homemade drones, including chunks of Styrofoam studded with propellers, crowded a pair of leaf-walled shacks. Despite the ragtag conditions, rebel drone units have managed to upend the power balance in Myanmar. By most measures, the military that wrested power from a civilian administration in Myanmar three years ago is far bigger and better equipped than the hundreds of militias fighting to reclaim the country.

Persons: Ko Shan Organizations: Karenni Nationalities Defense Force Locations: Myanmar

☆ New photos show the US Army's latest version of the Bradley fighting vehicle that's proven itself in Ukraine
▼ + stars: | 2024-05-01 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewThe US Army has released photos of the newest and most advanced version of its Bradley infantry fighting vehicle, combat-proven armor that Ukraine has been using against Russia. AdvertisementThe new M2A4E1 Bradley infantry fighting vehicle. "The Army received funding to procure the M2A4E1 for every Bradley donated to Ukraine," the PEOGCS said this week. AdvertisementA M2 Bradley Infantry Fighting Vehicle drives during a live fire exercise at Fort Cavazos, Texas. The Bradley, initially built as a response to Soviet infantry fighting vehicles, entered service in the 1980s and was deployed to the Gulf War the following decade before being sent to Iraq in the 2000s.

Persons: —, Bradley, Bradley IFV, Elbit, Glenn Dean, It's, Washington, David Dumas, The Bradley Organizations: Service, US Army, Bradley, Russia, Army's, Business, Environmental Control Unit, Army, Israel's Elbit Systems, Breaking Defense, Abrams, Bradley Infantry Fighting, Spc, Army Ukrainian, US Locations: Ukraine, Maine, Maj, Kyiv, Fort Cavazos , Texas, The, Iraq

☆ An Israeli warship shot down an enemy threat in the Red Sea with a new air-defense weapon for the first time
▼ + stars: | 2024-04-09 | by ( Jake Epstein | ) www.businessinsider.com time to read: +3 min

The C-Dome is the naval version of the Iron Dome and is outfitted on the Sa'ar 6-class corvette. AdvertisementAn Israeli warship shot down an enemy drone this week by firing a new naval air-defense weapon, marking the system's first-ever operational interception. It hailed the engagement as the "first operational interception" by the warship's C-Dome defense system. "The Israeli Navy is deployed in the area of the Red Sea and has both the defensive and offensive capabilities to engage with regional threats." Toward the other end of the Red Sea, meanwhile, US and allied warships have been defending key international shipping lanes from relentless Houthi attacks since November.

Persons: —, Tamir —, Rafael, Israel's Organizations: IDF, Service, Israel Defense Forces, IAF Aerial Control Unit, Screengrab, Rafael Advanced Defense Systems, Israeli Navy Locations: Israeli, Eilat, Gaza, Iran, Red, Yemen

☆ Puerto Rico declares public health emergency as dengue cases surge
▼ + stars: | 2024-03-28 | by ( Rafy Rivera | Amanda Musa | ) edition.cnn.com time to read: +3 min

CNN —Puerto Rico has declared a public health emergency due to a surging number of dengue cases. Puerto Rico Secretary of Heath Carlos Mellado said the health department has registered 549 cases of dengue so far this year, far exceeding historical numbers. Health officials in Puerto Rico are urging people to use insect repellent and eliminate possible mosquito breeding sites by preventing water from accumulating. Get CNN Health's weekly newsletter Sign up here to get The Results Are In with Dr. Sanjay Gupta every Tuesday from the CNN Health team. “There are indeed efforts from the health department and other organizations like the Puerto Rico vector control unit to control dengue in the area.”Climate change will also encourage the spread of dengue around the world, Paz-Bailey said.

Persons: Heath Carlos Mellado, ” Mellado, Dr, Sanjay Gupta, Gabriela Paz, Bailey, ” Paz, ”, Jamie Gumbrecht Organizations: CNN — Puerto, World Health Organization —, Virgin Islands, US Centers for Disease Control, Prevention, Health, Get CNN, CNN Health, Vector, CNN, Paz Locations: CNN — Puerto Rico, Puerto Rico, Virgin, American Samoa, United States, Florida

ATLANTIC CITY, N.J. (AP) — With this year's Super Bowl being played in Las Vegas, the nation's gambling capital, there was little doubt that betting on the big game would be huge. The 2023 Super Bowl between the Chiefs and the Philadelphia Eagles brought in $153.1 million worth of bets. In Pennsylvania, $71.5 million was wagered on the Super Bowl, down 15% from last year's Super Bowl, in which the Philadelphia Eagles lost to the Chiefs. Other states with big sports betting markets, including New York and Illinois, had yet to report betting levels for this year's Super Bowl as of Wednesday evening. Maine, which offered Super Bowl gambling for the first time, saw about $3.5 million wagered online, according to an estimate from the state's Gambling Control Unit.

Persons: sportsbooks, “ We’re, Chris Bevilacqua, ” BetMGM, Wayne Parry Organizations: CITY, Kansas City Chiefs, San Francisco 49ers, Nevada Gaming Control Board, Los Angeles Rams, Cincinnati Bengals, Chiefs, Philadelphia Eagles, Atlantic City, Super, of Gaming Enforcement, NFL Locations: N.J, Las Vegas, New Jersey, Pennsylvania, New York, Illinois, Maine, bettors, www.twitter.com

☆ Toyota halts shipment of 10 models over diesel engine testing issues
▼ + stars: | 2024-01-29 | by ( ) edition.cnn.com time to read: +2 min

A special investigative committee found irregularities during horsepower output testing for the certification of three diesel engine models. Ten models use the affected engines globally, Toyota (TM) said, including the Hiace van, Fortuner SUV, Innova multi-purpose vehicle and Lexus-branded LX500D SUV. The company said it would take measures such as running new engine certification tests in the presence of regulators as needed. The company holds a near 25% stake in Toyota Industries, which is a key Toyota group company. Shares in Toyota Industries sank into negative territory shortly after the news and ended down 4%.

Persons: Koichi Ito Organizations: Toyota, Cruiser, Toyota Industries, Lexus, world’s, Daihatsu, Toyota Motor, Mar Locations: Tokyo, Aichi prefecture

☆ Toyota shares slide 4% after vehicle recall, Daihatsu safety issues
▼ + stars: | 2023-12-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Japanese automaker Toyota led losses on the Japan's benchmark Nikkei 225 index Thursday, closing lower by 4%. The sharp fall came after Toyota announced a recall of about a million vehicles on Thursday. The safety recall involved certain 2020-2022 Toyota and Lexus models in the United States. The sell-off also comes after Toyota subsidiary Daihatsu halted shipments of all its vehicles on Wednesday, after an investigation found safety issues with its cars, including cases where airbag control units used in airbag tests for some models were different from the ones sold to the public. A independent panel had been probing Daihatsu after it said in April it had rigged side-collision safety tests carried out for 88,000 small cars, most of those sold as Toyotas.

Organizations: Toyota, Lexus, Daihatsu Locations: United States

Nov 29 (Reuters) - Synopsys (SNPS.O) on Wednesday forecast first-quarter revenue above Wall Street expectations, as artificial intelligence (AI) adoption boosted demand for the company's chip designing software. Synopsys forecast current-quarter revenue between $1.63 billion and $1.66 billion, above analysts' average estimate of $1.60 billion. The rise in custom chip design efforts by firms like Microsoft (MSFT.O) and Alphabet (GOOGL.O) has also boosted demand. "You need a very specific silicon in order to power that (AI) training," Sassine Ghazi, the company's president and chief operating officer, said of the boom in AI chips in an interview. Ghazi told Reuters that increased use of Synopsys AI services helped boost the value of some of its contracts by 20% at renewal time.

Persons: Sassine Ghazi, Ghazi, Aart de Geus, Synopsys, Harshita Mary Varghese, Shailesh Kuber, Deepa Babington Organizations: Design, Microsoft, Intel, Mercedes, Benz, Reuters, Revenue, Thomson Locations: Sunnyvale , California

☆ U.S. probes Hyundai, Kia recall into 6.4 million vehicles over fire risks
▼ + stars: | 2023-11-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsWASHINGTON, Nov 20 (Reuters) - U.S. auto safety regulators said Monday they had opened a probe into 16 separate recalls issued by Hyundai (005380.KS) and Kia (000270.KS) covering 6.4 million vehicles relating to brake fluid leaks that could result in fires. The automakers said internal brake fluid leaks can cause an electrical short that could lead to a fire. Kia said the Hydraulic Electronic Control Unit (HECU) in the vehicles may experience an electrical short as a result of brake fluid leaks. Hyundai said the Anti-Lock Brake System (ABS) module may leak brake fluid internally and cause an electrical short. The September recall covered 1.73 million Kia Borrego, Cadenza, Forte, Sportage, K900, Optima, Soul Rio, Sorento and Rondo vehicles from various model years for each vehicle from 2010 through 2017.

Persons: Andrew Kelly, Kia, Kia Borrego, Forte, Sportage, David Shepardson, Bernadette Baum, Louise Heavens Organizations: Hyundai Motor, New York, REUTERS, Rights, Hyundai, Kia, Korean, Control, Traffic Safety Administration, Tucson Fuel Cell, Santa Fe Sport, Thomson Locations: Manhattan , New York City, U.S, KS, United States, Santa Fe, Veracruz, Tucson

Sharing a stage at Foxconn's annual tech showcase in Taipei, Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang said their companies would build these "AI factories" together. And the data centres that produce it are AI factories," Huang said, adding that Foxconn had the expertise and scale to build them globally. Showing a hand-drawn sketch, Huang - sporting his signature black leather jacket - explained how "AI factories" could continuously receive and process data from autonomous electric vehicles to make them smarter. The AI factory would improve the software and update the entire AI fleet," said the Taiwan-born Huang. "In the future, every company, every industry, will have AI factories."

Persons: Foxconn, Liu Young, Jensen Huang, Huang, Orin, Liu, Jun Seki, Terry Gou, Sarah Wu, Ben Blanchard, Christian Schmollinger, Jamie Freed Organizations: Nvidia, EV, Foxconn's Tech, Thomson Locations: TAIPEI, Taipei, Taiwan, China, Foxconn, India, Japan

REUTERS/Cheney Orr/File Photo Acquire Licensing RightsOct 17 (Reuters) - Lockheed Martin (LMT.N) reported higher third-quarter revenue on Tuesday, as geopolitical tensions fueled sustained demand for its military equipment. Lockheed's weapons, such as the guided multiple launch rocket system and Javelin anti-tank missiles, made in conjunction with defense company RTX (RTX.N), have proven critical to Ukraine's war efforts. Revenue at the Missiles and Fire Control unit, which makes the High Mobility Artillery Rocket System, was $2.94 billion, up 3.8% from a year earlier. Bethesda, Maryland-based Lockheed posted a net income of $6.73 per share for the quarter ended Sept. 24, compared with $6.71 per share a year earlier. Quarterly net sales rose around 1.78% to $16.88 billion.

Persons: Cheney Orr, Lockheed Martin, LMT.N, restocking, Frank St John, Pratyush Thakur, Mike Stone, Krishna Chandra Organizations: Lockheed, Association of, United States Army, Global, REUTERS, Reuters, Missiles, Control, High Mobility Artillery, Thomson Locations: Huntsville , Alabama, U.S, Ukraine, Bethesda , Maryland, Bengaluru, Washington

☆ Russia pinpoints cause of moon shot failure, looks to bring next missions forward
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +3 min

Russia's first moon mission for 47 years ended in failure on Aug. 19 with the crash of its Luna-25 spacecraft, dashing Moscow's hopes of beating India to the unexplored south pole of the moon. Russia has previously said that Luna-26 would be an orbital mission and Luna-27 would be a lander with a drilling rig. As a result, the propulsion system was not shut down when needed. The Kremlin has played down the failure of the mission, saying Russia will continue to pursue ambitious plans in space. Borisov said Russia had received strong interest from Turkey, Brazil and South Africa in taking part.

Persons: Moscow's, Yuri Gagarin, Roscosmos, Yuri Borisov, Luna, Borisov, Guy Faulconbridge, Mark Trevelyan Organizations: 2.1b, Vostochny, REUTERS, Rights, Space Station, Russian, Thomson Locations: Amur, Russia, India, Indian, Moscow, Soviet, Russian, United States, Turkey, Brazil, South Africa

☆ Kia, Hyundai recall 3.37 million US vehicles over fire risks
▼ + stars: | 2023-09-27 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/3] The Kia EV9 is displayed at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File photo Acquire Licensing RightsWASHINGTON, Sept 27 (Reuters) - Hyundai (005380.KS) and Kia (000270.KS) are recalling a combined 3.37 million vehicles in the United States due to the risk of engine fires, telling owners to park outside and away from structures until repairs are complete. The automakers say brake fluid leaks can cause a short that could lead to a fire. Hyundai said it has reports of 21 fires and 21 other thermal incidents since 2017 related to the recall, while Kia has reports of at least 10 confirmed fires and melting incidents. Kia America's recall covers 1.73 million Borrego, Cadenza, Forte, Sportage, K900, Optima, Soul Rio, Sorento, and Rondo vehicles.

Persons: Kia EV9, David, Dee, Delgado, Kia, Kia America's, Forte, Sportage, Jyoti Narayan, Kanjyik Ghosh, Jan Harvey, Kirsten Donovan Organizations: New York, REUTERS, Rights, Hyundai, Kia, National, Traffic Safety Administration, Control, Tucson Fuel Cell, Santa Fe Sport, Thomson Locations: Manhattan , New York City, U.S, KS, United States, Santa Fe, Veracruz, Tucson, Santa, Bengaluru

☆ Want to live in London or New York? Good luck if you’re renting
▼ + stars: | 2023-09-23 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —In May, Viveca Chow hurriedly transferred $3,700 over her phone while standing in the lobby of a building in Queens, New York. Average rents in New York and Sydney grew by an inflation-busting 4.7% and 6.9% respectively in the year to August, according to real estate firm Knight Frank. While growth in rental costs in both cities has slowed compared with its pandemic peaks, average rents are still at all-time highs. The Manhattan skyline reflected on the East River Ferry near the Queens borough of New York CIty in August 2022. Lifestyle influencer Viveca Chow feels lucky to have found a rent-stabilized apartment in New York City.

Persons: Viveca Chow, Chow, Knight Frank, Ismail Ferdous, Realtor.com, SpareRoom, Barnaby Scudds, “ I’m, ”, Andy Raim, Matt Hutchinson, ” Hutchinson, Liam Bailey, ’, Sadiq Khan, Nikodem Szumilo, ” Szumilo, Szumilo, Viveca, ” Chow, you’re Organizations: London CNN —, CNN, Bloomberg, Getty, Hamptons, Office, National Statistics, Bartlett Real Estate Institute, University College London Locations: Queens , New York, New York, Sydney, Manhattan, Queens, London, United Kingdom, Bartlett, Tokyo, New York City, That’s

☆ Germany has finally figured out how to build more ammo for the 1960s-era cannon Ukraine is using to blast Russian drones
▼ + stars: | 2023-09-05 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Ukraine has been using Cold War-era Gepard cannons to take down Russian drones and missiles. A German arms manufacturer plans to send 300,000 35mm rounds to Kyiv for its Gepards. Ukraine has relied heavily on its arsenal of Gepards provided by Germany to blast low-flying Russian drones and missiles out of the sky. It took existing 35mm ammunition from infantry fighting vehicles and modified it for the Gepard, which needed its fire control unit to recognize the new munitions. A Gepard gun successfully fired the ammunition in May, and Rheinmetall said on Sunday that "a first lot" of 35mm ammunition is now on its way to Ukraine.

Persons: Jacob Bradford One, SERGEI SUPINSKY Organizations: Service, NATO, Factory, Rheinmetall AG, Ukraine, US Army, Rheinmetall, Getty Locations: Ukraine, Wall, Silicon, Germany, Kyiv, Switzerland, German, Poland, Berlin, AFP, Moscow, Russia, Ukrainian

☆ State-owned VTB bank to control Russia's biggest shipbuilding firm for five years
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +2 min

[1/3] Russian President Vladimir Putin attends a meeting with CEO of VTB bank Andrei Kostin in Moscow, Russia, August 10, 2023. Sputnik/Mikhail Klimentyev/Kremlin via REUTERSSummaryCompanies VTB to control United Shipbuilding Corporation for five yearsVTB boss Kostin says the news is unexpectedPutin says there are problems at USCMOSCOW, Aug 10 (Reuters) - President Vladimir Putin said on Thursday that the state-owned VTB (VTBR.MM) bank would be given control of the state's 100% stake in United Shipbuilding Corporation (USC), the largest shipbuilding company in Russia. Trade and Industry Minister Denis Manturov specified that VTB would manage the stake in trust for five years. United Shipbuilding Corporation builds vessels for both the civilian and military sectors, operating about 40 shipyards, design offices and repair yards across Russia and employing 95,000 staff. Putin told VTB CEO Andrei Kostin at a televised Kremlin meeting that he supported a government proposal to transfer the stake.

Persons: Vladimir Putin, Andrei Kostin, Mikhail Klimentyev, Kostin, Putin, Denis Manturov, Vladimir Vladimirovich, Manturov, Guy Faulconbridge, Kevin Liffey Organizations: Sputnik, United Shipbuilding Corporation, USC MOSCOW, USC, Trade, Industry, Kremlin, USC JSC, VTB Bank, Thomson Locations: Moscow, Russia, Kremlin

☆ How Saudi Arabia and UAE learned to stop worrying and love Turkey's Bayraktar drones
▼ + stars: | 2023-08-06 | by ( Paul Iddon | ) www.businessinsider.com time to read: +8 min

Saudi Arabia and the UAE have signed multibillion-dollar deals for Turkish drones in recent months. Azeri Ministry of DefenseSaudi Arabia previously showed interest in procuring Turkish drones and securing rights for local production. Bakir told Insider that Turkish drones have gained "global recognition" due to their "affordability, efficiency, and lethal capabilities" and documented successes over modern battlefields. "Moreover, Saudi Arabia could use such capabilities to balance Iran's drone technology in the long run," Ozeren said. Ozeren said the Saudi deal could help Baykar "monopolize" drone technology in Turkey but noted that crucial details about the agreement remain unknown.

Persons: Recep Tayyip Erdogan, Baykar, Abu Dhabi's, Loong, Loongs, Abu Dhabi, Abu, Ali Bakir, Erdogan, Mohammed bin Salman, Murat Kula, Bakir, Suleyman Ozeren, It's, Ozeren, Ali Atmaca, Sheikh Mohammed bin Zayed, Murat Centinmuhurdar, Bashar Assad, Paul Iddon Organizations: UAE, Service, United, United Arab Emirates, Turkey's Baykar Defense, Ministry of Defense, Anadolu Agency, Getty, Dassault Rafales, Ibn Khaldon, NATO, European Union, American University, Orion Policy Institute, Ataturk Airport, Security Initiative, Atlantic Council Locations: Saudi Arabia, Wall, Silicon, United Arab, Turkish, Riyadh, East, North Africa, South Caucasus, Ukraine, Armenian, Ministry of Defense Saudi Arabia, Republic of Turkey, Kuwait, UAE, Saudi, Istanbul, Yemen, Libya, Abu, Turkey, China, France, Qatar, Jeddah, Anadolu, Nahyan, Abu Dhabi

☆ Researchers say they found a way to tap into Tesla's most advanced features — without paying for them
▼ + stars: | 2023-08-05 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Researchers in Berlin say they found a way to circumvent that, and get new features for free. The doctoral researchers used a hack to "attack" Tesla's systems. Tesla owners use in-car purchases to unlock all sorts of vehicle features and upgrades. The researchers say they "attacked" Tesla's embedded car computer — known as "jailbreaking" — giving them the ability to run arbitrary software on the infotainment system, activate or disable features, and circumvent payment. Using a voltage-glitching vulnerability in the electronic control unit, the researchers bypassed Tesla's MCU-Z processor.

Persons: Tesla, Tesla's Organizations: Technical University Berlin, Tesla, TU Berlin Locations: Berlin

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