The UK’s Groceries Code Adjudicator (GCA) is threatening Amazon with a formal investigation if they don’t improve their treatment of suppliers. The GCA is concerned about Amazon’s compliance with the Groceries Supply Code of Practice …
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Apple Averts EU Fine, Opens iPhone Payments
Apple has agreed to open its iPhone’s tap-and-go payment system, NFC, to rival mobile payment providers, ending a four-year antitrust investigation by the European Union. This move, considered a settlement, will allow developers to build …
Continue readingCNN Undergoes Major Restructuring, Cuts 100 Jobs to Focus on Digital Future
CNN is cutting around 100 jobs as part of a plan to restructure its operations and strengthen its digital business. The move, outlined in an internal memo, reflects a growing trend across media companies as …
Continue readingAir Products LNG Business Sold to Honeywell for $1.81 Billion
Honeywell has announced the acquisition of Air Products’ liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in cash. This deal marks Honeywell’s fourth acquisition this year, highlighting its commitment to the …
Continue readingDisney Cruise Line Offers New Family Adventures: New Ship Sets Sail from Tokyo
Walt Disney (DIS.N) announced plans on Tuesday to launch a new cruise ship that will set sail from Tokyo beginning in fiscal 2028, adding a ninth vessel to the company’s growing fleet. The new ship, …
Continue readingTesla Shareholders Fight Back Against Record-Breaking $7 Billion Legal Fee in Musk Pay Case
Tesla shareholders are set to face off against lawyers who won a lawsuit against Elon Musk’s $56 billion pay package, arguing that a record-breaking $7 billion legal fee is excessive and “outlandish.” The lawsuit, initially …
Continue readingBitfarms Appoints New CEO Amidst Strategic Review and Riot Platforms Dispute
Bitfarms (BITF.TO), a Bitcoin mining company, has appointed Ben Gagnon as its new CEO to oversee a strategic review and navigate a dispute with its largest shareholder, Riot Platforms (RIOT.O). Gagnon’s promotion comes after months …
Continue readingStellantis Italian Production Faces Sharp Decline as EV Incentives Fail to Boost Demand
Stellantis, the multinational automotive giant, is facing a potential decline in Italian production this year as demand, particularly for electric vehicles (EVs), remains sluggish. The FIM-CISL union predicts a drop to 500,000 vehicles, down from …
Continue readingElon Musk Seeks to Dismiss Lawsuit Over Late Twitter Disclosure, Claims “Mistake”
Elon Musk is attempting to dismiss a lawsuit filed by former Twitter shareholders who allege he violated SEC rules by delaying the disclosure of his substantial stake in the company. The lawsuit, filed in Manhattan …
Continue readingBurberry to Cut Hundreds of Jobs Amidst Stock Market Slump
British fashion house Burberry Group Plc is facing another round of job cuts, this time potentially affecting hundreds of employees, mainly in the UK. The news comes following a sharp decline in the company’s stock …
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