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Tag: International business news

Cambridge Analytica scandal: Facebook informs US justice that it has reached an agreement in principle

Cambridge Analytica scandal: Facebook informs US justice that it has reached an agreement in principle Cambridge Analytica scandal: Facebook informs US justice that it has reached an agreement in principle

Facebook has reached a preliminary agreement to end litigation with users of the platform who are seeking damages and interest because it allowed third parties, including Cambridge Analytica, to access their personal data. In a document filed yesterday Friday in a San Francisco court, Facebook refers to the “agreement in principle” and requests a 60-day […]

France: TotalEnergies to sell its stake in Russia’s Terneftegaz

France: TotalEnergies to sell its stake in Russia’s Terneftegaz France: TotalEnergies to sell its stake in Russia’s Terneftegaz

TotalEnergies, which has faced criticism over its various business ties with Russia, said today it will sell its stake in Terneftegaz, a joint venture with Novatek, to the Russian oil and gas company. “Closing is expected in September 2022, subject to customary conditions,” the company said in a statement. The French company came under pressure […]

Moderna v. Pfizer – BioNTech lawsuit over mRNA vaccine patent

Moderna v. Pfizer – BioNTech lawsuit over mRNA vaccine patent Moderna v. Pfizer – BioNTech lawsuit over mRNA vaccine patent

The American Moderna is suing the also American Pfizer and the latter’s German partner, BioNTech, for violating technology patent laws regarding the mRNA platform, through which the two companies’ vaccine against Covid-19 was made. The suit is expected to be filed on Friday in a US court in Massachusetts and in a district court in […]

Britain: Thousands of British postal workers strike over pay differences

Britain: Thousands of British postal workers strike over pay differences Britain: Thousands of British postal workers strike over pay differences

More than 115,000 British postal workers are starting four days of strike action today over pay disputes, with the Post Office management saying the action is likely to cause significant disruption to customers. The Royal Mail strike is part of a series of protests facing Britain as workers demand higher wages in the face of […]

Panasonic plans to build another $4 billion electric vehicle battery factory in the US

Panasonic plans to build another $4 billion electric vehicle battery factory in the US Panasonic plans to build another  billion electric vehicle battery factory in the US

Panasonic Holdings, which supplies electric car batteries to Tesla, is in talks to build another US battery plant worth about $4 billion, according to a Wall Street Journal report today, citing Bloomberg. Oklahoma is a possible location for the new plant, although there are no guarantees a deal will be reached, according to the report. […]

TotalEnergies reiterates that it does not supply jet fuel to the Russian military

TotalEnergies reiterates that it does not supply jet fuel to the Russian military France: TotalEnergies to sell its stake in Russia’s Terneftegaz

TotalEnergies, which came under fire after a report earlier this week that it supplied jet fuel to the Russian military, today again denied the report, adding that it would seek to end the “controversy”, according to what reports Reuters. In a statement, the company said it had asked Novatek’s Russian partner for clarity on the […]

SpaceX and T-Mobile aspire to eliminate ‘white space’ thanks to satellites

SpaceX and T-Mobile aspire to eliminate ‘white space’ thanks to satellites SpaceX and T-Mobile aspire to eliminate ‘white space’ thanks to satellites

SpaceX satellites will connect directly to T-Mobile phones to provide network connectivity to the most isolated parts of the world beyond the range of cell phone base stations, Elon Musk’s company and the German telecom giant announced Thursday. The new service — which will use SpaceX’s thousands of Starlink satellites already in orbit and work […]

US: House calls on Twitter to respond to revelations about security and privacy issues

US: House calls on Twitter to respond to revelations about security and privacy issues US: House calls on Twitter to respond to revelations about security and privacy issues

The head of the US House Committee on Homeland Security and a subcommittee on Thursday demanded Twitter CEO Parag Agrawal respond and address “extremely troubling allegations by a former executive of the company for low standard security and privacy practices”. US lawmakers Bennie Thompson and Yvette Clarke also asked Twitter, according to Reuters, in a […]

Citigroup: Ends operations in Russia

Citigroup: Ends operations in Russia Citigroup: Ends operations in Russia

Citigroup has announced it will end its operations in Russia, in a move expected to affect 2,300 employees and 15 branches. “Citi will also continue to actively pursue sales of certain Russian consumer banking portfolios,” the bank said. Traffic includes Citi deposits, investments, loans and cards. The Bank emphasized that it will incur costs of […]

Abercrombie & Fitch: Losses versus profits announced in the quarter

Abercrombie & Fitch: Losses versus profits announced in the quarter Abercrombie & Fitch: Losses versus profits announced in the quarter

Abercrombie & Fitch shares fell 11% in premarket trading as the company reported a second-quarter loss of $16.83 million, or 33 cents a share, on net income of $108.5 million. Adjusted losses in the latest quarter came in at 30 cents per share compared with adjusted earnings of $1.61 per share a year ago. Revenue […]