Bavarian Nordic A/S’s chief executive officer says the proposed buyout offer from two private equity firms underscores the capital needed to back the Danish biotech’s ambition of becoming a global vaccine powerhouse.
Nordic Capital and Permira share Bavarian’s vision of turning “unloved” vaccine assets into growth engines, which will demand substantial new funding, CEO Paul Chaplin said in an interview on Friday.
The Boeing 737 is often seen as a symbol of American aerospace excellence. But peel back the fuselage and you’ll discover a much more intricate story—one of international collaboration, supply chain complexity, and global interdependence.
The aircraft’s thousands of components are sourced from at least two dozen countries and multiple continents. While Boeing leads final assembly in the United States, the company relies on global partners to provide specialized parts ranging from titanium forgings in Italy to cabin seating in Japan.
This global sourcing strategy, visualized by Julie Peasley and based on data from Air Framer, demonstrates the immense complexity of modern aircraft manufacturing.
Here’s a breakdown of key parts in the Boeing 737 and their country of origin:
| Country | Aircraft component for Boeing 737 |
|---|---|
| Australia | Wing ailerons |
| Austria | Blended winglets and split winglets |
| Belgium | Engine compressors, oil tank, pump, filter, and valve |
| Belgium | Flap/slat mechanisms |
| Canada | Communication antennas |
| Canada | Airborne communication systems |
| Canada | Wing tip panels |
| Canada | Wheel well fairings |
| Canada | Aircraft doors |
| Canada | Cabin curtains |
| Canada | Power transmission torque tube drives |
| Canada | Inner barrel for engine nacelle inlet |
| Canada | Nose landing gear assemblies (titanium components) |
| Canada | Electromagnetic indicators and annunciators |
| Canada | Winglet and wing components |
| China | Forward entry door |
| China | Rudder |
| China | Flight deck panels |
| China | Carbon brake disks |
| China | Interior completion of cabin |
| China | Vertical fin |
| China | Aft fuselage section |
| China | Aircraft landing gear |
| France | Wing assembly |
| France | Bearings |
| France | Inflight entertainment |
| France | Engine electrical wire harnesses |
| France | Titianium/aluminum structural components |
| France | Piston rings |
| France | Thrust reversers |
| France | Autothrottle system |
| France | Electrical power contactor |
| France | Engine hydromechanical fuel pumps |
| France | Wheels |
| France | Emergency locator transmitter |
| France | Cockpit door surveillance cameras |
| France | Structural bulkhead |
| France | Standby flight display |
| France | Limit and proximity switches |
| France | Fasteners |
| Germany | Corrosion protecting coatings |
| Germany | Cabin exit signs |
| Germany | Passenger Seating |
| Germany | Cabin galley and stowage bins |
| Germany | Cargo sliding carpet system |
| Germany | Winglet lightning harness |
| Germany | Cabin pressure control system |
| Germany | Fuselage anti-collision lights |
| Germany | Door locks and latches |
| Germany | Ice protection equipment |
| Germany | Window seals |
| Germany | Forgings, castings and extrusions |
| India | Vertical fin structures |
| India | Wire harnesses |
| India | Strut assemblies |
| Israel | Cargo and passenger doors |
| Israel | Metal parts and structures |
| Israel | Wheel well panels |
| Israel | Aluminum and steel for winglet |
| Italy | Titanium forgings |
| Italy | Rotor blades and stator vane |
| Japan | Inboard flaps and flap segment |
| Japan | Passenger Seating |
| Japan | Lavatory equipment |
| Latvia | Arm caps for economy class seats |
| Malaysia | Airframe saddle fairing |
| Morocco | Wire harnesses |
| Netherlands | Galleys, closets, class dividers |
| Netherlands | Electrical wiring, wire harnesses, junction boxes |
| Netherlands | Laminates for various components |
| Norway | Turbine engine vanes and casings |
| Russia | Titanium |
| South Africa | Vacuum-formed cockpit and cabin assemblies |
| South Africa | Precision machined interior linings |
| South Korea | Lower door skin, inner skin cover detail |
| South Korea | Electronic equipment door |
| South Korea | Empennage (737 MAX) |
| South Korea | Interior bulkheads |
| South Korea | Flap support fairing and winglet |
| South Korea | Rear wing spar and jackscrew |
| Spain | Flight control surfaces |
| Spain | Rudder |
| Spain | Sheet metal bending and milling |
| Sweden | Engine gearbox bearings |
| Sweden | AC/humidity control |
| Switzerland | Airborne vibration monitor |
| Taiwan | Main landing gear door |
| Taiwan | Pressurized doors |
| Taiwan | Engine case |
| Turkey | Rear fuselage and tail surfaces |
| Turkey | Flight deck panels |
| Turkey | Wing tips |
| Turkey | Structural components |
| Turkey | Cabin cabinets |
| Turkey | Engine fan cowls |
| UK | Thrust reverser actuator |
| UK | Flight control actuators |
| UK | Blended winglets |
| UK | Wing flaps structural ribs and substructures |
| UK | Engine sensors, and monitoring |
| UK | Nacelle inlet lip skins |
| UK | Cockpit voice recorder and flight data recorder |
| UK | Extended range auxiliary fuel tank |
| UK | Cockpit indicators and switches |
| UK | Tires |
| UK | Electrical static dischargers |
| UK | Aircrew seats and gear drives |
| UK | Airborne communication antenna |
| UK | Emergency lighting floorpath system |
| UK | Flight deck entry video surveillance system |
| UK | Emergency locator beacon |
| UK | Jet engine rings |
| UK | Anti-spall windshields |
| UK | Packing and filling material |
Commercial aircraft contain millions of precision parts, many made from exotic alloys or advanced composites. No single country holds all that know‑how. Russia’s VSMPO‑AVISMA, for instance, remains the world’s dominant source of aerospace‑grade titanium—a metal prized for its strength‑to‑weight ratio and corrosion resistance.
By tapping specialized suppliers, Boeing keeps costs competitive, earns reciprocal market access abroad, and balances political risk by spreading production across multiple jurisdictions.
However, this level of globalization exposes manufacturers to geopolitical and economic risks. According to Reuters, aerospace firms have lobbied hard to preserve tariff-free agreements between the U.S. and EU. Even temporary tariffs in past disputes have disrupted delivery schedules and increased costs.
Analysis from Harvard Business School points to rising protectionism as a major threat to supply chain stability. As governments reevaluate trade policies, the world’s major aircraft companies may be forced to rethink their international sourcing models—a costly and complex endeavor.
https://www.zerohedge.com/economics/boeing-737-american-made-globally-sourced
In-flight Wi-Fi has long been notorious for being slow, spotty, and expensive. Well, that's until Elon Musk's SpaceX Starlink entered the skies three years ago. The low-Earth orbit satellite service has ignited a race among airlines to install high-speed, low-latency terminals, transforming the passenger experience. Now, gaming or even logging into a Bloomberg Terminal mid-flight is possible.
Bloomberg reports a rapid adoption of Starlink among airlines, including United Airlines, Air France, Qatar Airways, Virgin Atlantic, and now Alaska Air. Sources say British Airways is also in talks to adopt the service, which delivers up to 200 Mbps download, 8 Mbps to 25 Mbps upload, and latency under 99 ms. This is a far cry from the dial-up speeds still common on most commercial jets.
According to the media outlet, Starlink's next target is to be an early mover of high-speed internet for premium Gulf carriers such as Emirates, FlyDubai, Gulf Air, and Saudia. This would be a significant win for the company and game-changing for the massive long-haul fleets.
Starlink faces fierce global competition from EchoStar, Viasat, SES, and Intelsat. These rivals are defending market share and revamping strategies to strike new deals as the race over the $100 billion satellite communications market accelerates ahead of the 2030s.
The cost to install a Starlink aviation receiver on a Boeing 737 is approximately $300,000, while a 787 Dreamliner model totals around half a million per aircraft, according to documents reviewed by Bloomberg. Airlines pay upwards of $120 per seat monthly for the service, with an additional $120 for live television.
What's important to note is that Starlink is a first-mover in the high-speed in-flight Wi-Fi market that airlines are rapidly adopting. Competition from Amazon's Project Kuiper is not even a discussion at the moment.
At the moment, Starlink remains a division of SpaceX and has not filed for an IPO. No underwriters have been appointed, and there's no confirmed timetable, despite Musk's recent comments about a public offering "at some point in the future."
Starlink has introduced a new $5-per-month "Standby Mode," giving customers unlimited low-speed data for calls, texts, and instant reactivation during emergencies or in dead zones, according to a new company email.
The feature appears aimed at retaining subscribers who might otherwise cancel month-to-month service and only reactivate when needed. By keeping accounts active, Standby Mode could help stabilize Starlink's subscriber base. This is likely a move that may carry weight ahead of a potential IPO.
by Eva Fu via The Epoch Times (emphasis ours),
A Chinese researcher accused of smuggling biological materials into a U.S. university lab has pleaded no contest to four charges.
Han Chengxuan, a doctoral candidate from the Chinese city of Wuhan who sent multiple packages containing concealed biological materials, pleaded to three smuggling charges and to lying to U.S. customs officials, the U.S. attorney for the Eastern District of Michigan announced.
Han is studying at the College of Life Science and Technology in the Huazhong University of Science and Technology in Wuhan and has co-authored two articles relating to the use of roundworms, known scientifically as C. elegans. She told federal agents that she arrived at the Detroit Metropolitan Airport on a J1 visa in June, intending to start a one-year research project at a University of Michigan lab.
Han estimates that she has sent between five and 10 packages, with several lost on the way, according to the federal complaint.
U.S. customs intercepted four such shipments between September 2024 and March 2025, addressed to individuals associated with a University of Michigan laboratory with content varying from plasmids—DNA fragments often used to induce genetic modification of organisms—and petri dishes for growing earthworms, the court filing said.
She is the third Chinese researcher facing charges over smuggling materials for biological research. The other two, the Justice Department alleged, attempted to smuggle in a crop-killing fungus for research use at the University of Michigan.
Prosecutors alleged that Han made repeated efforts to mask her actions both while shipping the goods and while speaking with the interrogators.
During an interview with customs agents upon arrival, she initially denied knowledge about sending anything to one recipient until officers brought up specific packages, the complaint stated.
A transcript of the conversation showed that Han described the petri dishes as a water solution containing sodium oxide and sugar, stating: “These ingredients exist in fruit jelly.”
One of the shipments, the prosecutors said, was a book with an envelope with suspected biological materials concealed inside. When confronted, Han initially said she designed a picture game and wanted to send it to the lab associate “to give him a surprise,” according to the court documents.
Omitted in Han’s early statement was the plasmids in the envelope, which she only acknowledged upon close questioning, the prosecutors said.
She told the agents that the recipient and she were classmates in the same major and believed that “he will understand my design.”
Han deleted content on her electronic devices three days before arriving in the United States, stating she wanted to “start fresh,” the federal complaint said.
According to the interview transcripts, Han said that the chat history “takes memory space” and that she cleans messages regularly.
“The University of Michigan invited this Chinese national into our state to be a visiting scholar, where it was going to give her more than $41,000 in a year to do her worm research at the Life Sciences Institute. Something is wrong in Ann Arbor,” said Interim U.S. Attorney for the Eastern District of Michigan Jerome Gorgon.
Han’s sentencing is set for Sept. 10. If convicted, she faces up to 10 years in prison for smuggling goods into the United States and another five years for making false statements.
Nvidia has instructed key suppliers, Arizona-based Amkor Technology and South Korea's Samsung Electronics, to suspend China-specific H20 AI chip production, according to The Information, citing unidentified sources. The directive comes after Beijing has pressured local companies to avoid using the H-20s for security concerns.
Nvidia sent its communications this week on the H20 to Arizona-based Amkor Technology and South Korea's Samsung Electronics, according to the two people. Amkor handles the advanced packaging of Nvidia's H20 chips, a process that involves combining multiple components, while Samsung supplies high-bandwidth memory chips for the H20. -The Information
In a statement, Nvidia explained, "We constantly manage our supply chain to address market conditions," adding that "allowing U.S. chips for beneficial commercial business use is good for everyone."
*NVIDIA ORDERS SUSPENSION TO H20 CHIP PRODUCTION: INFORMATION
— zerohedge (@zerohedge) August 22, 2025
guess no chips for china
The suspension underscores Nvidia's delicate balancing act in China, following President Trump's reversal of a previous ban on the H20s and his decision to allow sales on the condition that the federal government collect 15% of revenue. However, last month, China's Cyberspace Administration summoned Nvidia officials to address alleged "backdoor" security vulnerabilities in the H20s - claims that CEO Jensen Huang has denied, stressing the chips pose no security risks.
Related:
China Urges Tech Giants To Avoid Nvidia H20 Chips After Trump Lifts Sales Ban
China Probes Nvidia Over Alleged H20 AI Chip's "Backdoor" Security Risks
Amkor, which handles advanced chip packaging, and Samsung, which supplies high-bandwidth memory in the H20 production process, received Nvidia's order to halt production earlier this week. The Information reported that semi-finished H20s are piling up at Amkor. The future of the H20 chip in China remains unclear.
Here's Bloomberg Intelligence analysts Kunjan Sobhani and Oscar Hernandez Tejada's first-take:
Nvidia's decision to halt H20 chip production, as reported by The Information, follows the Chinese government urging local companies to avoid using the chip and creates fresh uncertainty over when Nvidia's China business can recover. We had previously projected H20 shipments to China would resume no earlier than the end of this year. Although a delay might temper optimistic estimates for China, robust US hyperscaler demand and Blackwell adoption should offset the impact on Nvidia this year.
Recall that on July 15, U.S. Commerce Secretary Howard Lutnick told CNBC, "We don't sell them our best stuff, not our second-best stuff, not even our third-best," referring to the H20 chips. Chinese officials reportedly viewed the remark as "insulting."
Shares in Nvidia fell about 1% in premarket trading in New York following the news. Shares are still trading near record highs, up 30% year-to-date as of Thursday's close.
Nvidia's decision to halt H20 chip production puts its China market in question - once accounting for 26% of its revenue - but has since tumbled to just 13% amid trade wars and tech restrictions.
https://www.zerohedge.com/ai/nvidia-halts-china-specific-h20-ai-chip-production-information-says
by Jill McLaughlin via The Epoch Times (emphasis ours),
Authorities in Los Angeles County have cracked a storefront operation trafficking millions of dollars worth of goods allegedly stolen in train and cargo burglaries, officials announced on Aug. 20.
A total of $4.5 million in stolen property—including power tools, appliances, and electric bikes—was recovered on Aug. 14 and Aug. 19 when investigators searched two locations of DJ General Tool and Wire, located in Montebello and Huntington Park.
Several pricey brands were uncovered, including Dyson, Milwaukee, DeWalt, and Makita products. Many of the items were being sold at the stores and online, according to the Los Angeles Police Department (LAPD).
LAPD detectives worked with the Union Pacific Police Department and the Los Angeles Port Police during the operation.
Dojoon Park, 41, of Montebello, was arrested on Aug. 14 and booked at the LAPD’s Metropolitan Detention Center on suspicion of receiving stolen property, a felony.
Park was released the same day, in accordance with the county’s zero-bail policy. He is scheduled to appear in court on Sept. 8.
Neither DJ General Tool and Wire nor Park could be reached for comment.
“Organized cargo and retail theft strikes at the heart of our economy, impacting local businesses, workers, and everyday families,” said LAPD Chief Jim McDonnell. “This operation underscores our department’s commitment to dismantling criminal networks that profit from stolen goods.”
The investigation is ongoing, and detectives anticipate more arrests, the LAPD said.
Los Angeles County District Attorney Nathan Hochman’s office is expected to file charges against Park. The office did not return a request for information about the charges.
“Cargo theft is not a victimless crime,” Hochman said in a statement. “It hurts businesses, damages the supply chain, and drives up costs for everyone.”
The Port of Los Angeles has been a hot spot for cargo crime in recent years. Authorities have reported a surge in thefts, driven by organized crime rings.
Cargo theft in the United States and Canada reached a record high of 3,625 incidents in 2024, up 27 percent from the previous year, according to CargoNet data reported by wholesale insurance broker Burns and Wilcox.
California’s cargo theft incidents rose by 33 percent last year from 2023, the data showed.
In April, the LAPD arrested two prominent members of a South American theft group after an extensive investigation into cargo theft in the Los Angeles area.
Detectives arrested Oscar David Borrero-Manchola, 41, and Yonaiker Rafael Martinez-Ramos, 25, after investigators uncovered more than $1.2 million in stolen tequila, speakers, coffee, clothing, shoes, body wash, and pet food at storage facilities in the San Fernando Valley.
Authorities also recovered a stolen shipment of bitcoin mining computers valued at $2.7 million from Los Angeles International Airport. The computers were about to be loaded onto a plane headed to Hong Kong, the LAPD reported.
https://www.zerohedge.com/markets/authorities-bust-multimillion-dollar-la-area-cargo-theft-ring
The Trump administration is considering taking equity stakes in companies getting funds from the 2022 CHIPS Act but has no similar plans for bigger firms boosting U.S. investments, such as TSMC and Micron, a White House official told Reuters.
The official confirmed a Wall Street Journal report that the administration does not intend to seek equity stakes in semiconductor companies, such as Micron and TSMC, that plan to step up investment
On Tuesday, U.S. Commerce Secretary Howard Lutnick said the government continued to work on the possibility of taking a 10% stake in troubled chipmaker Intel and suggested it would seek further stakes in other grant recipients.
"If we're going to give you the money, we want a piece of the action for the American taxpayer," Lutnick told CNBC.
While the Biden administration had been giving "money for free" to companies such as Intel and TSMC, he added, "Donald Trump turned it into saying, 'Hey, we want equity for the money.'"
At a March event with President Donald Trump at the White House, TSMC, which has Nvidia and Apple as key clients, announced plans for the new $100-billion U.S. investment, in addition to $65 billion committed for three manufacturing facilities in the state of Arizona.
Micron boosted its U.s. investment plans in June.
TSMC executives have already had discussions about returning their subsidies if the administration asks to become a shareholder, the Wall Street Journal said.
The White House and TSMC declined to comment. Micron did not immediately respond to a request for comment.
The U.S. Commerce Department, which oversees the $52.7- billion CHIPS and Science Act, finalized subsidies of $6.6 billion late last year for TSMC to produce semiconductors in the United States.
The commerce department did not immediately comment.
Besides Intel, Micron, TSMC and Samsung were among the biggest recipients of CHIPS Act funding, but almost all of it has yet to be disbursed.
Trump has previously said he wanted to kill the CHIPS Act program.
In the past, the U.S. government has taken stakes in companies during periods of economic uncertainty to provide financial support and restore confidence.
https://finance.yahoo.com/news/trump-administration-not-eyeing-equity-235825278.html
