International Companies
Facebook settles class-action lawsuit stemming from Cambridge Analytica scandal
Facebook parent company Meta Platforms has agreed to fork over $275. 0m in order to resolve a class-action lawsuit accusing the group of allowing third parties to access users' personal information.
Musk agrees to step down as Twitter boss
Elon Musk has agreed to step down as chief executive of Twitter after a user poll found in favour of him quitting.
Amazon strikes deal with European Commission
Amazon has avoided a potentially significant fine after reaching an agreement with the European Commission over competition concerns.
Epic Games to pay $520m to settle FTC allegations
The US Federal Trade Commission said on Monday that Epic Games - the maker of video game Fortnite - has agreed to pay $520m in settlements for violating children’s privacy law.
European Commission escalates antitrust probe into Meta
The European Commission has escalated its probe into Facebook parent company Meta Platforms' classified ads service, citing antitrust concerns about the tying of the company's marketplace platform with its social media network.
Elon Musk asks Twitter if he should stand down as CEO
Twitter chief executive Elon Musk has asked users of the social media platform whether or not he should remain in the top job.
Uniper warns of 'possible insolvency'
Embattled German gas trader Uniper warned on Monday that it faces "possible insolvency" unless shareholders support an additional government bailout of more than €50. 0bn.
Goldman Sachs may cut as many as 4,000 jobs - report
Goldman Sachs could reportedly cut as many as 4,000 jobs, or roughly 8% of the workforce, as chief executive officer David Solomon battles to contain a slump in profit and revenue.
Industrial action to go ahead at Heathrow
A planned 72-hour strike by ground handlers at Heathrow airport will go ahead on Friday, after the latest round of pay talks broke down.
H&M net sales little changed in Q4
H&M posted a modest increase in fourth-quarter net sales for the three months ended 30 November on Thursday, just two weeks after the fast fashion giant announced plans to cut 1,500 jobs as part of a cost-cutting drive.
Citigroup announces closure of China consumer business
Citigroup announced the winding-down of its consumer operations in China on Thursday, in a move that would see the jobs of 1,200 of its staff in the country affected.
Elon Musk sells 22m Tesla shares
Eccentric billionaire Elon Musk has offloaded 22. 0m shares in electric carmaker Tesla, bringing the total value of stock sold by the group's chief executive over the past year to almost $40. 0bn.
JPMorgan downgrades Rio Tinto
JPMorgan has downgraded Rio Tinto to ‘underweight’ following a review of European mining stocks.
Inditex YTD net profits rise 24% YOY
Zara parent company Inditex has reported a rise in net profits for the nine months ended 31 October, with increased prices helping to offset weakened global demand for clothing.
FTX founder charged with defrauding investors
Sam Bankman-Fried, the founder of collapsed cryptocurrency exchange FTX, has been charged with defrauding investors out of $1. 8bn (£1. 5bn) by the US Securities and Exchange Commission.
Thoma Bravo to buy Coupa Software in $8bn deal
Private equity firm Thoma Bravo has agreed to buy California-based Coupa Software in an $8bn cash deal.
Amgen to buy Horizon Therapeutics in $28.3bn deal
California-based biopharmaceutical group Amgen has agreed to buy Horizon Therapeutics in a $28. 3bn deal.
Danish biotech firms Novozymes, Chr. Hansen to merge
Danish biotech firms Novozymes and Chr. Hansen said on Monday that they have agreed to merge.
Hearing implants merger likely to hurt competition, CMA warns
A planned merger of two hearing implant specialists risks ramping up prices for the NHS and stifling innovation, the competition watchdog warned on Tuesday.
Circle abandons Spac deal with Concord
Cryptocurrency firm Circle Internet Financial said on Monday that its planned acquisition by special purpose acquisition vehicle Concord Acquisition Corp has been terminated by mutual agreement.