Following a call by Barclays to Walt Disney to bring in bold changes in the media giant to pose a turnaround for the slowing growth of the company’s Disney+ streaming service, the stocks of the company saw a rare downgrading at the Wall Street. Hints of a slowdown in Disney+ were mentioned last month by…
Strong measures are being taken against Australian airline Qantas as a part of a row over the duties of plane cleaners which happened in early 2020. The airlines ordered a cleaner to stop working following the employee’s opposition of the cleaning practices on aircraft that were arriving from China. Qantas was accused by the watchdog…
On Tuesday, the first bitcoin-linked exchange-traded fund will make its official debut. ProShares’ much-anticipated ETF, which will track the bitcoin futures market, will begin trading on the NYSE on Tuesday under the ticker ‘BITO,’ according to the company. “We believe a multitude of investors have been eagerly awaiting the launch of a bitcoin-linked ETF after…
With the growth of global electric vehicle (EV) industry, auto makers are now rushing to build facilities to allow them to make the powerful batteries required to power EVs. One of the latest in that race is partnership between Stellantis, a new entity that came into being last year by the merger of Fiat Chrysler…
More than 10,000 people are likely to be hired by social media giant Facebook in the European Union for the purpose of developing a so-called metaverse. A metaverse is described as an online world where users are able to play games, work and communicate with each other in a virtual environment, often using VR headsets.…
Claiming that complying with the Chinese government has become increasingly difficult, Microsoft has decided to shut down its LinkedIn social network services in China. This decision was taken after some journalists’ profiles were blocked from the career-networking site which was severely criticised InJobs, a jobs-only version of the site, bill ne launched by Linked later…
The banking group UBS AG was sanctioned this week by the United States Commodity Futures Trading Commission (CGTC) a fine of $500,000 over charges that the bank had not been able to keep in its custody some specific audio recordings till such time that it was required to according to regulations, the agency said. “The…
Tens of thousands of legal claims that alleged that Johnson & Johnson’s Baby Powder and other talc-based products were responsible for causing cancer were put in bankruptcy by the company, with the potential liabilities being transferred to a subsidiary that has been recently formed by it. According to the company and court records, J&J put…
The CEO of Kraft Heinz says that consumers will have to go along with to higher prices for food. According to Miguel Patricio, the head of the international food giant, which makes tomato sauce and baked beans, is raising prices of its products in a number of countries. He said that inflation was “across the…
Permission to end late-stage trials of their generic versions of Merck & Co’s promising experimental oral antiviral drug molnupiravir to treat moderate Covid-19 has been sought by two Indian pharmaceutical companies. It was just a week ago that Merck had announced success of its own trial for mild-to-moderate patients being treated with the medicine. Development…
