Meta CEO Mark Zuckerberg and other executives settled a shareholder lawsuit for $8 billion. The suit alleged they caused billions in fines and legal costs by violating Facebook users' privacy, stemming from incidents like the Cambridge Analytica scandal and the 2019 FTC fine. The settlement avoided a trial...
Samsung is aggressively promoting its new Galaxy Z Fold7 with numerous pre-order deals totaling over $960. These include discounts for email subscribers, PayPal users, and those trading in tablets, plus free Galaxy Buds and a 100-day return policy. However, the article cautions against immediate purchase, noting that...
AMD stock surged over 9% this week, fueled by optimism surrounding the potential resumption of MI308 chip exports to China. The US Commerce Department's review of export license applications prompted the rally. AMD's stock price reached its highest point since late October, closing at around $160. Technical...
South Korea's Supreme Court has definitively cleared Samsung's de facto head, Lee Jae-yong, of all fraud charges related to a 2015 merger. This concludes a years-long legal battle stemming from accusations of stock and accounting manipulation to consolidate family control. The court upheld previous not-guilty verdicts, rejecting claims...
Transportation Secretary Sean Duffy revealed a $31.5 billion price tag for a new national air traffic control system, requiring additional congressional funding beyond the initial $12.5 billion. The project, aiming for completion by 2028, includes extensive upgrades to radar, radios, and software. Concerns were raised regarding potential SpaceX...
Scale AI, a leading AI data labeling company, announced layoffs affecting 14% of its workforce (around 200 employees) and 500 contractors. This restructuring, following Meta's recent multi-billion dollar investment and acquisition of key personnel, aims to streamline operations and focus on its generative AI business. CEO Jason Droege...
US stocks experienced volatility Wednesday following reports that President Trump might fire Federal Reserve Chairman Jerome Powell. Initially, the S&P 500 dropped but later rebounded after Trump denied the reports, although concerns remain. The Dow Jones Industrial Average closed up 0.53% at 44,254.78, the Nasdaq Composite gained 0.26%,...
Pop Mart, a Chinese toy company, anticipates a 350% profit increase in the first half of 2024, driven by the immense popularity of its Labubu plush toy. Labubu, a toothy monster designed by Kasing Lung, has become a viral sensation, boosted by celebrity endorsements and social media trends. ...
Bank of America reported mixed Q2 results, exceeding earnings expectations at 89 cents per share but missing revenue projections at $26.61 billion. Profit rose 3% year-over-year to $7.12 billion, driven by increased net interest income despite lower interest rates. CEO Brian Moynihan highlighted resilient consumer spending and strong performance...
A Teamsters strike against Republic Services, one of western Washington's largest waste haulers, is causing trash collection delays in King and Snohomish counties. Over 2,000 Republic Services workers nationwide are striking for better contract terms. While most residential customers experience modified service, commercial customers and critical locations receive regular...
