(Brands & Consumers)
A Texas bankruptcy judge has ruled against the proposed liquidation of Alex Jones’ company, Free Speech Systems, which owns Infowars. Instead, the judge has approved the liquidation of Jones’ personal assets, a move aimed at benefiting the creditors. Judge Chris Lopez stated that the prolonged Infowars bankruptcy process needed to end to allow the families…
In a significant ruling, a judge has ordered the liquidation of Infowars host Alex Jones’ personal assets, potentially paving the way for compensation to the families of the victims of the 2012 Sandy Hook Elementary School shooting. This decision comes after Jones and his company, Free Speech Systems, faced defamation judgments totalling $1.5 billion for…
U.S. regulators are investigating an incident involving a Boeing 737 Max 8 operated by Southwest Airlines, which experienced a potentially hazardous “Dutch roll” while in flight. This investigation is one of two new inquiries confirmed by the Federal Aviation Administration (FAA) concerning Boeing aircraft. The “Dutch roll” event, which causes the plane to rock side…
In a decisive move, Tesla shareholders have re-approved a multi-billion-dollar pay package for CEO Elon Musk that had previously been struck down by a Delaware judge. The decision was made at Tesla’s annual meeting on Thursday, alongside the approval to shift the company’s incorporation from Delaware to Texas. Tesla announced on Friday that the pay…
Two female Apple employees have filed a lawsuit against the tech giant, alleging that the company pays women less than men for equivalent work. The lawsuit, filed on Thursday, seeks class-action status to represent over 12,000 current and former female employees in Apple’s engineering, marketing, and AppleCare divisions. This lawsuit places Apple among other major…
Wells Fargo recently terminated over a dozen employees accused of falsifying keyboard activity to create the illusion of working, according to a disclosure made to the Financial Industry Regulatory Authority and reported by Bloomberg. CNN confirmed the firings, which followed an investigation into allegations that some staff used methods to simulate active work. During the…
Apple has reclaimed its title as the most valuable public company in the United States, surpassing Microsoft on Thursday. The tech giant’s stock surged following announcements at its annual Worldwide Developers Conference (WWDC), including new generative AI features for iPhones. Apple’s market capitalization closed at approximately $3.29 trillion, edging out Microsoft’s $3.28 trillion. Apple shares…
Infinix, a prominent technology brand committed to empowering today’s youth, has inaugurated the newly renovated ICT Student Resource Centre at the University of Ibadan. This significant event, which took place on Thursday, June 13, 2024, underscores the fruitful collaboration between Infinix and the university. The partnership aims to enhance the academic, entrepreneurial, social, and technical…
Valve Corporation, the owner of Steam, the world’s largest digital distribution platform for PC games, finds itself embroiled in a legal quagmire as it faces a lawsuit amounting to £656 million. The lawsuit alleges that Valve leveraged its market dominance to overcharge a staggering 14 million UK gamers. Digital rights campaigner Vicki Shotbolt, spearheading the…
Apple is encountering intensifying legal battles as four additional U.S. states have aligned with the federal government’s antitrust lawsuit, alleging monopolistic practices within the smartphone market. Indiana, Massachusetts, Nevada, and Washington have formally joined the Justice Department’s civil case against Apple, according to a statement released by the agency. The initial complaint, filed in March,…
Judges have recently heard an appeal by Elizabeth Holmes, the founder of Theranos, challenging her conviction for defrauding investors in her blood-testing company. An appeal was also presented for Ramesh “Sunny” Balwani, the startup’s president and Holmes’s former partner, in the San Francisco federal court. Holmes and Balwani were tried separately in 2022 and received…
Samsung Electronics Co. has unveiled a series of technological advancements designed to attract AI chip manufacturers to its production facilities. The announcement was made at the company’s annual foundry forum held at its US chip headquarters in San Jose, California. Despite being the world’s leading memory-chip maker, Samsung is striving to close the gap with…
Eight former SpaceX employees have filed a lawsuit against the company and its CEO, Elon Musk, alleging wrongful termination after they criticized the company’s work environment and Musk’s public behaviour. The lawsuit, filed in California state court, claims that Musk ordered their dismissal after they highlighted pervasive sexual harassment and a toxic “Animal House”-style culture…
Co-working giant WeWork has officially exited Chapter 11 bankruptcy protection, but questions linger about its long-term viability. The company, once a Wall Street darling valued at nearly $47 billion, filed for bankruptcy in November 2023 after struggling with massive debt and unsustainable real estate costs. To survive, WeWork shed over $4 billion in debt, secured…
Boeing continues to face challenges in attracting new orders for its commercial jets, with sales remaining stagnant amidst ongoing safety questions and production woes. In May, the aviation giant reported a meagre four new jet orders, all for the 787 Dreamliner, with no orders for the troubled 737 Max. This marked a decline from the…
Investors are eagerly embracing the shares of Raspberry Pi, a British manufacturer of compact computers, following its debut on the London Stock Exchange on Tuesday. Raspberry Pi’s stock surged by up to 40% in early trading, settling slightly lower at £3.85 ($4.90) by 11:54 a.m. ET, still boasting a remarkable 38% increase above its listing…
In a bid to compete in the ongoing value menu wars and attract budget-conscious consumers, Starbucks has unveiled its latest offering – the “Pairings Menu,” combining drinks and breakfast items at discounted prices. Released on Tuesday, the “Pairings Menu” aims to rejuvenate spending and appeal to cost-conscious customers amidst concerns over rising fast-food prices and…
Elon Musk has moved to dismiss his lawsuit against OpenAI and CEO Sam Altman, bringing an end to a legal dispute that has lasted several months between the co-founders of the artificial intelligence startup. In February, Musk, who co-founded OpenAI in 2015, filed a lawsuit accusing the company of deviating from its original nonprofit mission…
More than 15,000 Amazon contract drivers filed arbitration claims against the tech giant, alleging that they were misclassified as independent contractors rather than employees, thereby denying them minimum wage and overtime rights. This legal action highlights a significant issue within the growing gig economy, where millions of workers use platforms like Lyft, Uber, DoorDash, and…
A class action lawsuit filed on Tuesday alleges that RTX Corporation, previously known as Raytheon Technologies, has been discriminating against job seekers aged 40 and above. The lawsuit, submitted by the AARP Foundation along with two law firms at the U.S. District Court for the District of Massachusetts, contends that certain job advertisements from the…
Elon Musk is voicing strong opposition to Apple’s newly announced partnership with OpenAI, creators of ChatGPT. The Tesla and SpaceX CEO declared on Monday that he would ban Apple devices from his companies if Apple proceeds with integrating OpenAI’s technology into its operating systems. In a post on X, Musk stated that integrating OpenAI at…
At its annual Worldwide Developers Conference on Monday, Apple introduced its first generative AI features for the iPhone, marking a significant shift towards AI integration in its products. The company launched several new tools under the “Apple Intelligence” banner, including personalized Genmoji—AI-generated emojis—and a more advanced Siri capable of answering complex queries and managing personal…
Elizabeth Holmes, the infamous former CEO of Theranos, is making a determined bid to overturn her 11-year prison sentence for defrauding investors. Holmes’ legal team is set to argue her appeal before a California court on Tuesday, challenging several decisions made during her 2022 trial. Holmes, currently serving her sentence in a minimum-security facility in…
Apple is gearing up for one of its most significant events in recent years at the upcoming Worldwide Developers Conference (WWDC). The company is expected to announce a partnership with OpenAI, the creator of ChatGPT, and introduce new generative AI tools for its mobile operating system. The anticipated AI integration could drive iPhone sales and…
Next week, Tesla shareholders will cast their votes on whether CEO Elon Musk deserves a massive compensation package previously struck down by a judge, and whether the company should relocate its state of incorporation from Delaware to Texas. Five months ago, a Delaware judge nullified the $50 billion pay package granted to Musk by Tesla’s…
Elliott Investment Management has acquired a $1.9 billion stake in Southwest Airlines, urging significant leadership changes at the Dallas-based carrier. Announcing their position on Monday, Elliott criticized Southwest’s current leadership for poor execution and an outdated strategy that has resulted in disappointing outcomes for shareholders, employees, and customers. “Southwest’s poor execution and leadership’s stubborn unwillingness…
Adults and teenagers aiming to cut back on their screen time are increasingly swapping their smartphones for simpler, “dumb” models. The ability to track daily screen time on smartphones can lead to an uncomfortable realization: a once-useful tool has turned into an obsession. This is a sentiment echoed by 16-year-old Luke Martin from Canada, who…
A US federal judge ruled on Friday that Google’s antitrust lawsuit, initiated by the US government, will be decided by a judge rather than a jury after Google paid $2.3 million to cover the lawsuit’s monetary damages. This antitrust case, focusing on Google’s advertising technology, marks the Biden administration’s first major antitrust action against a…
Stellantis has announced the recall of 211,581 SUVs and pickup trucks due to a software malfunction that could lead to the failure of their electronic stability control (ESC) systems. The issue, according to Stellantis, originates from a defective anti-lock braking system, which consequently disables the ESC system. This safety feature is crucial for maintaining steering…
Keith Gill, the investor famously known as “Roaring Kitty,” has sparked another wave of interest in meme stocks, prompting Wall Street to consider regulatory action. Gill, who previously played a significant role in the 2021 GameStop trading frenzy, disclosed in a recent Reddit post that he purchased nearly $116 million worth of GameStop stock and…
In an era where some of the world’s largest corporations are deeply invested in artificial intelligence, U.S. lawmakers are only now beginning to recognize the potential dangers posed by this rapidly advancing technology. Despite AI’s complexity and the urgent pleas from its creators to slow development, Congress has yet to pass any significant legislation to…
William Lewis, the newly appointed publisher and chief executive of The Washington Post, has been accused of attempting to suppress a story about his alleged involvement in a UK phone hacking scandal coverup. According to NPR media reporter David Folkenflik, Lewis offered him an exclusive interview in exchange for not publishing the article. The scandal,…
In the drive to advance Nigeria’s development, the chronic issue of inconsistent electricity supply remains a significant obstacle. A new documentary, “Up NEPA!”, delves into this pervasive problem, capturing the frustrations and hopes of Nigerians who grapple daily with power outages. Since its inception in 1972, the National Electric Power Authority (NEPA) has been at…
June 7, 2024 – Streaming giant Netflix is gearing up to defend against a substantial damages claim of $170 million filed by Fiona Harvey, a Scottish woman who alleges defamation stemming from the hit series “Baby Reindeer.” In a complaint lodged in the District Court for the Central District of California, Harvey seeks damages for…
June 7, 2024 – Jensen Huang, CEO of Nvidia, received a hero’s welcome in Taiwan, his birthplace, as the company soared to become America’s second most valuable entity, surpassing Apple. Huang’s visit coincided with the Computex trade show, where global tech luminaries congregated to explore Taiwan’s pivotal role in the semiconductor and artificial intelligence (AI)…
June 7, 2024 – Kia Motors Corporation has issued a warning to owners of approximately 463,000 Telluride SUVs in the United States, urging them to refrain from parking their vehicles indoors and near structures due to potential fire risks associated with the front seats. According to recall documents submitted to the National Highway Traffic Safety…
Seoul, June 7, 2024 – For the first time in its 55-year history, workers at Samsung Electronics in South Korea have gone on strike. The Nationwide Samsung Electronics Union (NSEU) announced that many of its 28,000 members participated in the one-day walkout on Friday, marking a significant moment for the tech giant. The union, which…
British tech entrepreneur Mike Lynch, founder of Autonomy, was acquitted of fraud by a jury in San Francisco on Thursday. This verdict marks a significant victory for Lynch, who has faced numerous legal challenges following the troubled $11 billion sale of his company to Hewlett-Packard (HP) in 2011. Lynch was cleared of all 15 charges,…
A new national stock exchange, based in Dallas and supported by financial giants like BlackRock and Citadel Securities, is gearing up to challenge the dominance of the New York Stock Exchange and Nasdaq. The newly established TXSE Group has announced its intention to file for registration with the US Securities and Exchange Commission (SEC) later…
Google is set to face a £13.6 billion lawsuit after a court ruled that it must answer allegations of anti-competitive behaviour in the online advertising market. The case, initiated by Ad Tech Collective Action LLP, claims that Google’s practices have unfairly disadvantaged online publishers in the UK, leading to significant financial losses. The Competition Appeal…
In a significant ruling, McDonald’s has lost its exclusive rights to the “Big Mac” trademark for chicken burgers in the European Union. The EU’s highest court determined that the fast-food giant had not demonstrated continuous use of the trademark for a period of five years, paving the way for other companies to use the name…
TikTok is currently addressing a cyber-attack that has compromised the accounts of several high-profile brands and celebrities, including Paris Hilton and CNN. The video-sharing platform, owned by the Chinese company ByteDance, confirmed to the BBC that a “very limited” number of accounts were affected. TikTok is collaborating with the impacted users to restore their account…
Premium soft drink brand Fayrouz has launched its ‘Here’s to Taste’ campaign, featuring former beauty queen and reality TV star, Beauty Tukura. This initiative celebrates Fayrouz’s refreshed look and its new Apple-Watermelon flavour. Beauty Tukura, known for winning the Miss Nigeria crown and her appearance on Big Brother Naija, has transitioned into entrepreneurship and philanthropy….
Dollar Tree announced on Wednesday that it is considering selling or spinning off its Family Dollar chain, nearly a decade after acquiring the brand in a merger that has faced numerous challenges. Family Dollar, which operates around 8,000 stores across the United States, primarily serves low-income customers in urban areas with prices ranging from $1…
The usually calm summer months for the US stock market are proving tumultuous this year, with investors pulling out at near-record rates as economic concerns mount. Traditionally, investors tend to reduce their activity during the summer, a phenomenon often encapsulated by the adage “Sell in May and go away.” However, recent market trends indicate a…
Live Nation has reported that a hacker is attempting to sell alleged user data from Ticketmaster on the dark web. The revelation came in a regulatory filing on Friday, detailing the unauthorized activity discovered on May 20. Live Nation, Ticketmaster’s parent company, immediately launched an investigation with forensic experts. According to the filing, the data…
The Federal Communications Commission (FCC) has officially announced the termination of the Affordable Connectivity Program (ACP), a federal initiative that provided internet access to millions of low-income Americans. The program’s closure on June 1, 2024, follows unsuccessful efforts to secure additional funding from Congress. Despite bipartisan popularity and support from consumer advocates, the program’s expiration…
Costco’s new chief financial officer, Gary Millerchip, has assured customers that the beloved $1.50 hot dog and soda combo will remain at its current price, despite rising inflation. Addressing recent speculation during an earnings call with analysts on Thursday, Millerchip stated, “To clear up some recent media speculation, I also want to confirm the $1.50…
Tesla is set to recall 125,227 vehicles in the United States because of a defect in the seat belt warning system, which could increase the risk of injury in the event of a collision. The National Highway Traffic Safety Administration (NHTSA) announced the recall on Friday, citing that the vehicles do not meet federal safety…
The U.S. Department of Labor has filed a lawsuit against Hyundai and two of its suppliers, accusing them of illegally employing a 13-year-old child in an Alabama assembly line for up to 60 hours a week. According to the complaint, the staffing agency Best Practice sent the underage worker to SMART Alabama, a company that…
