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Meta Pays $725 Million To Resolve The Cambridge Analytica Case

Parent company of the social media platform Facebook, Meta, has agreed to pay $725 million to resolve a lawsuit involving a data breach connected to the political consulting firm Cambridge Analytica.   In the ongoing dispute, Facebook was accused of granting access to user...

Tesla Halts Car Manufacturing At Its Shanghai Factory

According to an internal notification and sources with knowledge of the situation, Tesla has halted manufacturing of its electric cars at its Shanghai factory in China on Saturday, a week earlier than it had originally planned to halt most operations there during the final week...

AT&T Forming A Commercial Fiber-Optic Platform With BlackRock

A joint venture between fund manager BlackRock Inc. and wireless carrier AT&T Inc. will run a fiber-optic platform in the US, the companies announced on Friday.   According to them, the company, Gigapower LLC, intends to extend its network beyond AT&T's conventional 21-state wireline...

Twitter Says It's Redesigning The Feature That Prevent Suicides

Elon Musk, the new owner of Twitter Inc., had ordered the removal over the past few days of a feature that encouraged suicide prevention hotlines and other safety resources to users searching for specific content, said rources with knowledge of the matter, according to the news agency...

Tesla Stock Plummeted Following Its Doubling Of Discounts In The US On Its Key Models

Tesla Inc stock plummeted on Thursday after the luxury electric carmaker began offering $7,500 discounts on Model 3 and Model Y vehicles delivered in the United States this month, fuelling concerns that the company will face softening demand as economies slow.   Tesla began offering a $3,750...

Nike Stock Rises As Inventory Issues Ease And Demand Remains Strong

Nike Inc.'s stock rose nearly 15% on Wednesday as investors ignored the sportswear giant's margin pressure and focused on the company's efforts to address inventory issues that have plagued its business in recent quarters.   After Nike reported better-than-expected quarterly results on...

Tesla Offers Discounts On Certain Car Models In The United States And Canada

Tesla Inc is slashing prices and offering discounts on Model 3 and Model Y vehicles that are to be delivered to the United States and Canada this month, according to sales pages on the company's website on Wednesday, amid concerns that demand will soften as economies slow.  ...

Musk Will Leave His Position As CEO Of Twitter Once He Finds "Someone Foolish" To Succeed Him

The billionaire Elon Musk announced on Tuesday that he will step down as Twitter Inc.'s CEO once he finds a replacement, but he will continue to oversee some crucial departments of the social media platform.   "I will resign as CEO as soon as I find someone foolish enough to take the job!...

3M Will Stop Producing "Forever Chemicals" At A Cost Of Up To $2.3 Billion

The "forever chemicals" PFAS, which are used in everything from cell phones to semiconductors and have been linked to cancers, heart issues, and low birth weights, have a 2025 deadline for ceasing production, according to US industrial conglomerate 3M Co.   Due to their slow rate of...

Amazon And The EU Negotiate A Deal Regarding Data Use, Avoiding A Fine

After addressing concerns regarding its use of sellers' data, US online retail giant Amazon reached a settlement with the European Union on Tuesday in two antitrust probes. This action will spare it from a fine of up to 10% of its global turnover.   In the first instance, Amazon was accused...

Without German Government Rescue, Uniper Issues Warning Of A Complete Wipeout

Germany's Uniper warned that it would have to consider bankruptcy if shareholders didn't approve a bailout and nationalization that will cost the government more than 50 billion euros ($53 billion).   CEO Klaus-Dieter Maubach warned shareholders at a fictitious extraordinary shareholder...

Formal Strike To Be Held By Amazon Employees In The UK For The First Time Ever

Hundreds of employees of the e-commerce giant Amazon are slated to go on a strike, according to the GMB union in the United Kingdom, which will be the first such strike for the company's employees in the country.   Employees at Amazon's Coventry warehouse in central...
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