The German sporting goods company Adidas’ strategy of completely focusing on its core brand will see it selling off its Reebok brand to Authentic Brands Group for up to 2.1 billion euros, ending an acquisition that was not successful. Reebok was acquired by Adidas in 2006 for $3.8 billion as part of its efforts to…
In a statement T-Mobile said, it is investigating a claim made on an online forum which states that personal data of more than 100 million users have been hacked. “We are aware of claims made in an underground forum and have been actively investigating their validity. We do not have any additional information to share at…
A decline in its revenue for the second quarter was reported by the United States based office-sharing startup WeWork with the emergence of the Delta variant of the coronavirus slowed down the recovery of the company in the first half of the year. The on-going pandemic re-emergence in parts of the world brought down…
The answer to the questions of whether the entertainment giant Walt Disney Co can keep its parks open for the rest of the year will be the most crucial to whether the company will be able to sustain a recovery in its theme parks business. The company expects all of its employees in its theme…
In a ruling, a U.S. trade judge found that Alphabet Inc’s Google had infringed on five of Sonos Inc’s patents revolving around smart speakers and related technology. The decision has the potential to lead to an import ban. The ruling by Charles Bullock, the chief administrative law judge of the U.S. International Trade Commission did not…
A U.S. jury has awarded Optis Wireless Technology LLC and several related companies $300 million in damages in a second patent trial against Apple Inc. Previously, the jury had found that Apple had infringed on five Optis wireless standard essential patents and had awarded $506 million in damages; however the U.S. District Judge Rodney Gilstrap…
In a statement U.S. Trade Representative Katherine Tai and South Korean Trade Minister Yeo Han-koo said, the two discussed supply chain resiliency, climate change and reforming the World Trade Organization. In a virtual meeting, both officials “agreed on the importance of a strong U.S.-Korea bilateral trade relationship and committed to maintaining an open dialogue moving…
In a statement, Illinois, Senator Dick Durbin said, Samsung SDI Co Ltd plans on building a battery plant in central Illinois. Electric-vehicle startup Rivian has a factory in Normal, Illinois. In April it said Samsung SDI would supply battery cells for its vehicles. “We are competing for a major Samsung battery facility. The delegation came in…
Chinese search engine giant Baidu beat Wall Street estimates for its latest completed quarter as the company’s financials were driven up by a rebound in advertising sales and stronger demand for the artificial intelligence and cloud products offered by the company. The current Chief Financial Officer (CFO) of the company, Herman Yu, has been appointed…
China’s Geely Holding-owned Volvo Cars will temporarily stop production at its Swedish plant in Gothenburg because of a shortage of semiconductors. A global crunch of chips has hit carmakers hard, with many forced to cut down on production. Electronic device makers are also struggling to keep up with a pandemic-led demand for gaming consoles, phones,…
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