Honda to use Facebook to find owners with defective Takata airbags

Takata’s air bag inflators have been linked to at least 18 deaths and 180 injuries around the world. (Reuters)
Updated 20 November 2017
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Honda to use Facebook to find owners with defective Takata airbags

BENGALURU: Honda said on Monday it will use Facebook’s custom audiences tool to find car owners with defective Takata airbags.
The tool, which allows advertisers to reach a specified list of users, will match encrypted email addresses associated with recalled vehicle identification numbers to Facebook users.
Japan’s Takata’s air bag inflators have been linked to at least 18 deaths and 180 injuries around the world because they can rupture and shoot metal fragments into vehicles.
Honda, whose vehicles account for 17 of the 18 deaths worldwide, has been by far the most aggressive in reaching out to affected customers.
A report issued on Friday by an independent monitor of the Takata recalls said more than 10 million US vehicles and 18.5 million faulty Takata air bag inflators remain unrepaired in the largest ever auto recall.
Automakers have recalled or expect to recall by 2019 about 125 million vehicles worldwide to replace air bag inflators, including more than 60 million in the US.


UAE’s Network International shrugs off Brexit to list shares in London

Updated 21 March 2019
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UAE’s Network International shrugs off Brexit to list shares in London

  • The planned share sale comes at an uncertain time in the UK
  • The company, which operates hospitals in the Middle East, was said to be also considering listing in the US or Singapore

DUBAI: Network International, the UAE payments processor, has committed to a London IPO next month in what would be the UK’s first big share sale of the year.
The company intends to have a free float of at least 25 percent and admission to the London Stock Exchange is expected to take place in April, Network International said in a regulatory filing on Thursday.
The planned share sale comes at an uncertain time in the UK where there is still no clarity around whether Britain will leave the EU or not at the end of the month.
VPS Healthcare, the Abu Dhabi-based hospital operator, is reconsidering plans to list in London due to uncertainty surrounding Brexit, Bloomberg reported on Thursday citing a person familiar with the matter.
The company, which operates hospitals in the Middle East, was said to be also considering listing in the US or Singapore.
Emirates NBD, Dubai’s biggest bank, owns 51 percent of Network International while Warburg Pincus and General Atlantic jointly own the rest.
The share sale will be a key test of investor demand for new listings in London after a subdued 2018 across most European markets.
“Volatility has continued in recent months, driven by the uncertainty around trade between the US and China, the wider geopolitical climate and the potential end of the current bull run,” said Peter Whelan, partner and UK IPO Lead at PwC in a recent report.
“We are seeing a healthy number of companies preparing for an IPO in 2019 despite the ongoing Brexit negotiations which have clearly impacted IPO activity on the London market.”
The payment processor reported earnings of $298 million last year according to its website, up from $262 million a year earlier. It does not disclose net income figures.
The company handles digital payments across the Middle East, which generate three quarters of its total earnings.
Last year it processed some $40 billion in payments for more than 65,000 merchants.
Its key markets in the region include the UAE and Jordan it says that Saudi Arabia offers “significant opportunities.” It also offers services in 40 African countries with Egypt, Nigeria and South Africa being its most important segments on the continent.