United States investigates Shein over consumer protection issues

 

Shein has disclosed that its U.S. operations are under investigation by the U.S. Federal Trade Commission, warning that the probe could result in significant monetary payments and materially affect its financial condition and results. The fast-fashion e-commerce company revealed the inquiry in documents filed with the Hong Kong stock exchange...

Zurich-based FIFA plans $20 billion commercial subsidiary

 

Zurich, Switzerland – FIFA has announced plans to create a new commercial subsidiary, FIFA Forward Enterprise (FFE), valued at around $20 billion that would consolidate the governing body’s commercial and event operations. Under the proposal presented on Tuesday, FIFA would invite external investors to buy minority, non-controlling stakes in FFE...

United States: Apple briefly tops $5 trillion valuation

 

BENGALURU, India – Apple’s market capitalization briefly surpassed $5 trillion for the first time on Tuesday, making the iPhone maker only the second company ever to reach that milestone after Nvidia. The stock hit an intraday high of $342.89, implying a market value of about $5.036 trillion, before easing to...

Netherlands faces ASML pressure as China advances lithography

 

AMSTERDAM, Netherlands – China’s move to develop a homegrown immersion deep ultraviolet (DUV) lithography machine is increasing pressure on Dutch chip equipment maker ASML, which has recently become Europe’s most valuable listed company after a sharp share price rise. Reuters reported that Shanghai Aishengna Electronic Technology Group, a little-known Chinese...

United States lawmakers face scrutiny over SpaceX stock

 

In the United States, the blockbuster initial public offering of SpaceX, now valued in the multi‑trillion‑dollar range, has triggered new scrutiny of how lawmakers invest in technology companies they oversee. Financial disclosures show that multiple members of Congress quickly purchased SpaceX shares despite serving on committees that supervise aerospace policy,...

United States restaurant chain Cracker Barrel CEO resigns after logo fallout

 

Cracker Barrel Old Country Store announced that Chief Executive Officer Julie Masino is stepping down following a year of turbulence tied to a failed rebranding effort. In August, the U.S. restaurant chain replaced its long-standing logo featuring the Uncle Herschel mascot with a minimalist design aimed at improving visibility and...

United States: Johnson & Johnson proposes vast talc settlement

 

United States-based Johnson & Johnson has proposed a sweeping, multibillion-dollar settlement framework aimed at resolving tens of thousands of lawsuits alleging that its talc-based products caused ovarian cancer. The healthcare company has faced these claims for more than a decade, during which the litigation has weighed on its reputation, influenced...

France’s Safran hikes outlook after strong profits

 

France’s Safran raised its full-year financial targets after reporting stronger-than-expected first-half 2024 results on Tuesday, supported by robust demand for aircraft engine maintenance and spare parts. The French aerospace group, one of the world’s largest suppliers of aircraft equipment and the co-owner of the CFM jet engine joint venture with...

Singapore: Bitcoin falls as Fed hike fears grow

 

Bitcoin fell in early Asia trading on Tuesday, sliding as much as 2.3% to US$63,414 by 9 a.m. in Singapore, its lowest level in 11 days, as investors weighed the risk of higher US interest rates. Ether dropped about 3.6%. Citadel Securities expects the US Federal Reserve to raise rates...

United States credit risk on Nvidia jumps sharply

 

Nvidia Corporation’s credit risk climbed sharply on Monday after reports that the US-based chipmaker is in talks over more than $750 billion of artificial intelligence infrastructure deals. Five-year credit-default swaps on Nvidia, which insure against a debt default, rose intraday by as much as 0.14 percentage point to 0.82 percentage...