ALERT Icelandair to buy low-cost rival WOW Air

Icelandair Group has entered into a share purchase agreement to purchase all shares in the airline WOW air. Beleaguered budget airline WOW Air has been completely bought out by Icelandair Group, Viðskiptablaðið reports. The board of Icelandair Group bought every share in WOW Air, in full conjunction and cooperation with the Icelandic Competition Authority. The acquisition is…

ALERT US Department of Justice claims Chinese intelligence hacked private companies’ systems to steal information on a turbo fan engine

Chinese intelligence officers conspired with hackers and company insiders to break into private companies’ computer systems and steal information on a turbo fan engine used in commercial jetliners, according to a U.S. indictment unsealed on Tuesday. The indictment said at the time of the hacks, a Chinese-state owned aerospace company was working to develop a…