Business

Meta CEO Mark Zuckerberg and other executives reached a settlement with a group of the company’s shareholders Thursday, ending a long-running, potentially blockbuster $8 billion trial over allegations Facebook knowingly harvested user data. An attorney representing Meta shareholders told Judge Kathaleen McCormick in Delaware’s Chancery Court a settlement was reached with Zuckerberg and other members […]

President Donald Trump announced a $12 billion aid package for farmers, offering much-needed financial assistance to a core constituency hit hard by the administration’s tariff policy, although members of the administration sought to connect recent struggles to Biden-era policies. Up to $11 billion of the aid package will be allotted for an assistance program for […]

Biocon—controlled by Indian pharmaceutical billionaire Kiran Mazumdar-Shaw—is buying the rest of privately held subsidiary Biocon Biologics to consolidate its biosimilars and generics drug businesses. The Bengaluru, India-based company will buy the stakes held by Serum Institute Life Sciences, Tata Capital and Activ Pine by swapping 70.28 Biocon shares for every 100 Biocon Biologics shares, at a […]

VinFast—controlled by Vietnam’s richest person Pham Nhat Vuong—is spending $500 million to triple its EV manufacturing capacity in India within a few years. The expansion will also enable the company’s existing factory in the southern Indian state of Tamil Nadu to produce electric buses, e-scooters and charging infrastructure, New York-listed VinFast said in a statement. The facility, […]

Founder Zhang Jianzhong has amassed a fortune of $4.3 billion based on his stake in Moore Threads. Zhang Jianzhong, founder of Moore Threads Technology, has joined the billionaire ranks as shares of his Chinese AI chipmaker soared over 420% on its Shanghai market debut amid optimism it could one day become the Nvidia of China. […]

The Tesla mogul now only has a paltry $385 billion fortune. Tuesday was a very good day for Oracle CEO Larry Ellison. The company announced during an analyst call on Tuesday that it had signed four multi-billion-dollar contracts during the fiscal first quarter, which increased bookings four times over last year, according to Business Insider. As a result, investors jumped on […]

Labor prosecutors are challenging Amazon’s long-running claim that it doesn’t employ the massive network of drivers who deliver its packages across the country. A regional director for the National Labor Relations Board has determined that Amazon is really a “joint employer” alongside one of its delivery contractors, an agency spokesperson said Thursday. The director also […]

Thousands of hotel workers in a dozen U.S. cities are preparing to go on strike as early as Labor Day weekend as they battle for new contracts with major hotel companies. Roughy 15,000 workers who are members of the union Unite Here have voted to authorize strikes against Hilton, Hyatt, Marriott and Omni properties. The union […]

The Federal Reserve’s decision Wednesday to start cutting interest rates could bolster green energy investments, which took a hit as the U.S. central bank drastically increased the cost of borrowing money over the past two years in a scramble to tamp down post-pandemic inflation. At its 2 p.m. meeting, the Fed slashed interest rates by 50 basis points […]

The luxury real estate market has long been associated with wealth, status, and profitable investments. Due to the demand for exceptional properties from high-net-worth individuals (HNIs) and investors, this sector often shows resilience in the face of economic upheavals. However, the issue of illiquidity is becoming an increasing concern in this niche industry. As the […]

A bombshell CNN report on North Carolina GOP gubernatorial nominee Mark Robinson definitely caused a buzz on social media Thursday afternoon. Shortly before the outlet’s story was released, Robinson attempted to do damage control by saying, “The things that you will see in that story, those are not the words of Mark Robinson.” Robinson, currently his state’s lieutenant governor, also […]

Thousands of Boeing workers went on strike on the West Coast Friday morning after rejecting a tentative contract their union negotiated with the aerospace manufacturer. The massive work stoppage, involving an estimated 33,000 employees, is expected to halt production at the company’s jet plants in the Puget Sound region of Washington and its parts plant in Portland, […]