The most important news from last week
Ford recalled 634.000 vehicles
Ford Motor Company is recalling 634.000 SUVs globally due to potential fire hazards from damaged fuel injectors and is urging owners to get their vehicles examined. The recall affects 2020-2023 model year Bronco Sport and Escape SUVs, including vehicles that were recalled in April because an oil separator housing might split and leak, potentially causing an engine fire. Vehicles that were fixed under the previous recall will still require the current recall remedy.
Movement of Ford stocks in the last five years. (Source: Trading Economics) *
mRNA technology is being tested for universal flu vaccine
In preliminary tests in mice and ferrets, an experimental vaccine demonstrated wide protection against all 20 known influenza A and B virus subtypes, possibly paving the way for a universal flu shot that might help avert future pandemics. The two-dose vaccination uses the same messenger RNA (mRNA) technology as the COVID-19 injections produced by Pfizer in collaboration with BioNTech and Moderna. However, a universal vaccine would not mean an end to flu seasons.
Sony will expand Chinese game incubator
In a fight with Microsoft to enter China's gaming sector, Sony Group announced intentions to extend a program to find and foster Chinese-made games. The initiative will invest more than 140,080 USD in each game it enrols, and it will support not just tiny teams but also large teams with dozens or more engineers. The Japanese tech giant's plans were revealed during a live-streamed event from the southern Chinese city of Chengdu on Tuesday to revive the China Hero Project program.
Amazon might spend 1 billion USD on producing movies for theatres
Amazon intends to spend more than 1 billion USD a year on producing movies for theatrical release. The e-commerce behemoth intends to produce between 12 and 15 films every year for theatrical release. Amazon, on the other hand, is thought to be still contemplating its approach. They also stated that Amazon plans to distribute a modest number of films in cinemas in 2023, with its output expanding. The move will bring it on par with other film companies such as Paramount Pictures.
Putin promised further efforts to unblock exports
Russian President Vladimir Putin stated that Russian authorities will seek to unblock Russian fertilisers stalled at European ports and to begin ammonia shipments via a pipeline through Ukraine. There are 262,000 tonnes of Uralchem fertilizer frozen in ports in Estonia, Latvia, Belgium, and the Netherlands. Acron and Eurochem have 52,000 tonnes and over 100,000 tonnes of fertiliser stalled in Europe, respectively.
Sources: Trading Economics, Reuters, Bloomberg, Investing
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