(Brands & Consumers)
Unilever has announced plans to cut approximately one-third of its office-based roles in Europe by the end of 2025. This move is part of a broader strategy to reduce costs and revive growth under the leadership of CEO Hein Schumacher, who took over last year following a period of underperformance. The consumer goods giant, known…
Nike, the global sportswear giant, has encountered a staggering downturn in its stock value, marking its most significant setback since its 1980 initial public offering. On June 28, 2024, in the aftermath of a disappointing earnings report, Nike’s shares plummeted by 20%, wiping out a staggering $28 billion from its market capitalization in a single…
Brussels Targets X for Breach of Transparency and Data Access Rules European regulators have formally accused Elon Musk’s social media platform X of violating the European Union’s Digital Services Act (DSA). The European Commission claims the platform has misled users and breached several transparency requirements. “Today we issue, for the first time, preliminary findings under…
Massive Data Breach Affects AT&T Customers’ Call and Text Records In a significant data breach, AT&T has revealed that the call and text message records of tens of millions of its customers and many non-AT&T users from mid-to-late 2022 were exposed. The breach, disclosed on Friday, has raised serious concerns about data security. AT&T stated…
Germany has announced plans to phase out components from Chinese tech giants Huawei and ZTE from its 5G wireless network over the next five years, a decision likely to further strain its relations with China. The move is part of a broader effort to address national security concerns and reduce dependencies on Chinese technology. Major…
In a significant shift, Apple has agreed to open its contactless payments technology to rival providers, meaning iPhone users in Europe will no longer be restricted to using Apple Pay for mobile payments. This decision comes in response to increasing regulatory pressure from European authorities. The European Commission, the EU’s executive body, announced the development…
MOD Pizza, the popular fast-casual chain known for its customizable pizzas, announced on Wednesday that it has been acquired by Elite Restaurant Group in a strategic move aimed at preventing or delaying a potential bankruptcy filing. While the financial terms of the acquisition were not disclosed and little information about Elite Restaurant Group is publicly…
Mark Thompson, the CEO of CNN, has announced significant changes to the news network, including the elimination of 100 jobs. Appointed last year to modernize CNN, Thompson detailed his plans to build a billion-dollar digital business, experiment with artificial intelligence, and restructure the newsroom. In a memo to staff, Thompson described these measures as a…
Samsung Electronics’ largest labor union in South Korea has initiated an indefinite strike, following a three-day walkout that failed to resolve ongoing disputes over pay and bonuses. The National Samsung Electronics Union (NSEU), representing 31,000 members or nearly a quarter of Samsung’s workforce in the country, announced the strike on Wednesday. This labor action, set…
Starting July 15, Target will no longer accept personal checks as a form of payment. This decision is part of the retailer’s efforts to streamline the checkout process for shoppers. In a statement to CNN, Target cited “extremely low volumes” of check usage as the reason for the change. Retail analyst Neil Saunders from GlobalData…
Dyson, the renowned vacuum cleaner manufacturer, has announced plans to eliminate approximately 1,000 jobs in Britain as part of a global restructuring effort. The company, founded by James Dyson, employs 3,500 people in the UK, including staff at its R&D center in Malmesbury, West England. Hanno Kirner, Dyson’s Chief Executive, recently stated, “We have grown…
A Delaware judge is considering a record-setting $7 billion request for attorney fees from three law firms that successfully contested Elon Musk’s $56 billion pay package from Tesla. The firms, which represented Tesla shareholder Richard Tornetta, argue that the fee incentivizes legal accountability for corporate boards. For over six hours on Monday, legal teams debated…
Airbnb is under fire again after a woman discovered she was secretly recorded undressing at a rental property. This incident, like many others before it, has raised serious concerns about the company’s ability to protect its guests from surveillance devices. An Airbnb representative, during a court-ordered deposition last year, revealed that the company had dealt…
John Deere announced plans to lay off approximately 600 employees across three US factories as the company transitions production to a new facility in Ramos, Mexico. Effective August 30, the layoffs will impact around 310 workers at two Iowa plants in Dubuque and Davenport, and 280 employees at a factory in East Moline, Illinois. These…
McDonald’s, once a promoter of its salads, has removed them from its menu since 2020, concluding that customers prefer their classic burgers and fries. According to Joe Erlinger, president of McDonald’s USA, the decision aligns with customer demand. “If people really want salads from McDonald’s we will gladly relaunch salads,” Erlinger stated in a June…
Bloomberg Philanthropies has announced a transformative $1 billion donation to Johns Hopkins University, making medical school free for the majority of its students. This significant contribution aims to address the dual challenges of declining public health and education. Michael Bloomberg, founder of Bloomberg Philanthropies and an alumnus of Johns Hopkins, highlighted the purpose behind the…
Ted Sarandos, co-chief executive of Netflix, has articulated his belief that streaming platforms like Netflix are not only enriching cultural experiences but also contributing to making the world a safer place. In a recent interview on the tech podcast Hard Fork, Sarandos expressed his perspective on the positive impact of streaming. Since assuming his role…
As anticipation builds for the upcoming Summer Olympics in Paris, Coca-Cola has unveiled its latest heartwarming campaign, “It’s Magic When the World Comes Together,” emphasizing camaraderie and unity. Continuing its 96-year partnership with the Olympics, Coca-Cola’s campaign, developed by WPP Open X and led by Ogilvy, with support from EssenceMediaCom, Hogarth, and VML, aims to…
Whether you’re a staunch Coke enthusiast or typically avoid soft drinks, Pepsi’s iconic red, white, and blue logo is universally recognizable. However, fans of Pepsi are now questioning if the brand would have achieved its immense success if it had retained its original name. Pepsi, often seen as a product of contemporary fast-food culture, was…
Samsung Electronics has announced an anticipated 15-fold increase in profits for the second quarter of 2024 compared to the same period last year, driven by a surge in demand for advanced chips fueled by the artificial intelligence (AI) boom. The South Korean tech giant, the world’s leading producer of memory chips, smartphones, and televisions, forecasts…
As Amazon celebrates its 30th anniversary, its scale and influence are nothing short of astonishing. The company, which started as an online bookstore in 1994, now operates across multiple sectors, from retail and streaming to cloud computing and smart home technology. A visit to one of Amazon’s massive warehouses, such as the one in Dartford,…
NASCAR, traditionally known for its roaring, gas-powered race cars, has taken a step into the electric future by unveiling an all-electric SUV prototype. This new vehicle, which boasts double the horsepower of current NASCAR cars, marks a significant development in the sport. The electric SUV, revealed on Saturday, is a fully drivable prototype with three…
For the first time, Tesla has been included in a Chinese government purchase list, as reported by state-owned media outlet Paper.cn. Tesla is the only foreign-owned electric vehicle (EV) brand featured in the procurement catalogue released by the government of Jiangsu province in eastern China. Other brands on the list include Volvo, owned by China’s…
NBC will bring a unique twist to its Summer Olympics coverage by utilizing an artificial intelligence version of renowned sportscaster Al Michaels’ voice for daily recaps. On Wednesday, NBC announced that it will use AI software to recreate Michaels’ voice to deliver recaps for subscribers of its Peacock streaming platform. This initiative marks a significant…
Germany has blocked the sale of a Volkswagen subsidiary to China on national security grounds, further straining the already tense relationship with its largest trading partner. In June 2023, MAN Energy Solutions, a part of the Volkswagen Group, announced its intention to sell its gas turbine business to the Chinese state-owned company CSIC Longjiang GH…
In a dynamic shift within the tech industry, Nvidia recently became the world’s most valuable company, surpassing Microsoft, which had itself leapfrogged Apple. This milestone was noted with applause at a tech event in Copenhagen. Although Nvidia has since dropped to second place due to a decline in its share price, standing at a valuation…
Google’s greenhouse gas emissions surged by 48% in 2023 compared to 2019, according to the tech giant’s latest environmental report. The spike is largely attributed to the increasing energy demands of data centres, driven by the rapid growth of artificial intelligence (AI). AI-powered services require significantly more computing power—and consequently more electricity—than traditional online activities,…
Donal O’Leary, a barber who offers “pay-as-you-feel” haircuts, has been named the UK’s Best Barber at the 2024 UK Hair and Beauty Awards. O’Leary, who works at the Apothecary 87 salon in Balby, Doncaster, provides haircuts where customers pay what they can afford, a service especially valuable during the current cost-of-living crisis. Expressing his surprise…
Ghanaian chef Ebenezer Smith, widely known as Chef Smith, has been arrested for allegedly fabricating a Guinness World Record for the longest cooking marathon by an individual. On Tuesday, Chef Smith held a press conference where he announced on social media that he had set a new world record with an 820-hour and 25-minute cooking…
The Federal Trade Commission (FTC) has unanimously voted to block the proposed $4 billion merger between mattress industry giants Tempur Sealy and Mattress Firm. The decision aims to prevent what the Commission sees as a threat to competition and consumer prices. Tempur Sealy, the largest mattress supplier globally, agreed in May 2023 to acquire Mattress…
Tesla has reported a decline in sales for the second consecutive quarter, marking the first time in its history that sales have decreased year-over-year for two quarters in a row. The electric vehicle (EV) giant sold nearly 444,000 cars this quarter, a 5% drop from the previous year. This follows an 8.5% decline in the…
Chicken Soup for the Soul Entertainment (CSSE), the parent company of Redbox, has filed for bankruptcy following prolonged financial difficulties. The company, known for its iconic red DVD rental kiosks, disclosed nearly $1 billion in debt in a recent filing. Among its creditors are major entertainment companies such as the BBC and Sony Pictures, as…
Hunter Biden has filed a lawsuit against Fox News and its parent corporation, accusing the network of defamation and illegally publishing explicit images of him without his consent in a 2022 miniseries detailing his legal troubles. The lawsuit, filed Sunday in New York state court, alleges that Fox News engaged in unjust enrichment, inflicted emotional…
A British startup, Nyobolt, has unveiled a groundbreaking 35kWh lithium-ion battery that can charge from 10% to 80% in just over four and a half minutes, addressing a major frustration for electric vehicle (EV) drivers. This development was showcased during a live demonstration last week. Nyobolt, based in Cambridge, claims its new battery significantly reduces…
Nissin Foods, a major player in Japan’s instant noodle market, has launched a new flavour featuring the notoriously poisonous pufferfish, also known as “fugu.” This luxurious delicacy, typically priced at up to 20,000 yen ($125) in high-end restaurants, is now available in an affordable cup noodle form for just 298 yen ($1.90). Released on Monday,…
The US Justice Department is reportedly close to finalizing an agreement with Boeing that would involve a corporate monitor and a fine in exchange for a guilty plea to criminal charges. This deal has sparked outrage among lawyers representing the families of victims from two fatal 737 Max crashes, who have labelled the proposal a…
“Inside Out 2” has become the fastest animated film ever to reach the $1 billion mark worldwide, achieving this milestone just 19 days after its release. The film’s success has reinvigorated the 2024 box office, which had been struggling before its debut on June 16. “We’re absolutely thrilled to have reached this phenomenal milestone in…
Nvidia, the tech giant that has captivated investors with its impressive growth, recently experienced a wave of volatility that saw its stock briefly dip. Despite a rapid recovery on Tuesday, the incident served as a reminder of the potential risks associated with such meteoric rises. The Rise and Fall: Nvidia’s stock has surged about 750%…
Walgreens is planning to shut down a considerable number of its approximately 8,600 locations across the United States as part of a comprehensive effort to restructure the struggling pharmacy chain’s business model. The company did not specify the exact number of store closures but announced on Thursday that it will undertake “significant” closures of underperforming…
Uber Technologies and Lyft have agreed to a $32.50 hourly minimum wage for drivers in Massachusetts and will pay $175 million to settle a lawsuit alleging they improperly classified drivers as independent contractors. As part of the settlement with Massachusetts Attorney General Andrea Joy Campbell, the companies will also provide drivers with paid sick leave,…
The Federal Government has announced the disbursement of the second batch of the N5 billion Creative Fund, aimed at boosting Nigeria’s creative sector. The Creative Fund, initiated in December 2023 in collaboration with Providus Bank, is designed to support the growth and development of the creative industry in Nigeria. Fegho Umunubo, the Special Assistant to…
Volkswagen has issued a recall for 271,330 Atlas and Atlas Cross Sport SUVs due to a defect in the passenger-side airbags. According to the U.S. National Highway Traffic Safety Administration (NHTSA), this defect stems from a wiring error that could prevent the airbags from deploying in a crash. The recall affects Atlas models manufactured between…
Levi’s, a global brand renowned for its ethical stance, is under scrutiny following a report from an independent labour monitoring group. The report accuses Levi’s of neglecting its own labour standards by continuing to work with a Turkish factory that laid off around 400 workers after they joined a union and protested over pay and…
For over a decade, Guinness has been a dedicated supporter of football in Nigeria, creating unforgettable experiences for fans and cementing its association with the sport. The leading premium beer brand has consistently sponsored football events, uniting the nation through the beautiful game. In 2013, Guinness unveiled the world’s largest Nigerian jersey, symbolizing unwavering national…
A court-appointed bankruptcy trustee is moving forward with plans to shut down Alex Jones’ Infowars media empire, aiming to liquidate its assets to settle a $1.5 billion debt owed to families of Sandy Hook school shooting victims. Christopher Murray, the trustee overseeing the bankruptcy proceedings, detailed in a court filing on Sunday his intention to…
US prosecutors have recommended that the Department of Justice (DoJ) file criminal charges against Boeing. This follows claims that the aircraft manufacturer violated a settlement agreement related to two fatal crashes involving its 737 Max aircraft, which resulted in the deaths of 346 people. The DoJ has accused Boeing of breaching a deferred prosecution agreement…
Germany has launched a new visa program aimed at making it easier for skilled workers from outside the European Union to immigrate. The Chancenkarte, or “Opportunity Card,” was introduced to address the country’s growing labor shortage and to attract professionals in fields such as medicine, education, manufacturing, and engineering. Starting from June 1, non-EU nationals…
European Union regulators have taken a significant step in their ongoing battle with Big Tech, accusing Apple of violating tough new digital competition regulations. The European Commission’s preliminary findings, announced on Monday, suggest that Apple may have breached the Digital Markets Act (DMA) by restricting app developers from directing consumers to cheaper services. If found…
Hooters has announced the closure of several “underperforming” restaurants across the United States, attributing the decision to challenging economic conditions, including rising food and labour costs. “Like many restaurants facing current market pressures, Hooters has made the tough decision to close a select number of underperforming stores,” a spokesperson told CNN. While the company did…
A group of prominent record labels has filed lawsuits against two AI startups, accusing them of using copyrighted music without permission to train their systems. The Recording Industry Association of America (RIAA) has taken legal action on behalf of labels like Sony Music Entertainment, UMG Recordings, and Warner Records, targeting AI companies Suno and Uncharted…
