Apple is the target of a historic lawsuit brought by the US, which claims the tech giant is monopolising the smartphone market and stifling competition. The Justice Department claims in the lawsuit that the business exploited its dominance over the iPhone app store to “lock in” developers and users. It charges the company with using…
The first human to receive a replacement kidney from a genetically modified pig is a 62-year-old man with end-stage renal illness, according to recent announcements from specialists at Massachusetts General Hospital in Boston. According to a statement from the hospital, the four-hour procedure on March 16 “marks a major milestone in the quest to provide…
The week leading up to March 20 saw significant inflows into global equities funds, propelled by positive expectations on potential rate cuts by the US Federal Reserve later in the year as well as positive industrial and retail statistics from China. LSEG data shows that following around $21.95 billion in net accumulation the week before,…
According to local media, Tim Cook, the CEO of Apple, praised China’s role in the company’s supply chain when visiting suppliers on Wednesday, including BYD Electronics. The visit coincided with a decline in Apple’s sales in China. Cook shared a post on his Weibo social media account, stating that he had eaten a local breakfast…
Gwynne Shotwell, the president of SpaceX, announced during a press conference on Tuesday that the company has begun selling satellite lasers—which are utilised for quick in-orbit communications—to other satellite companies. With fewer ground stations, SpaceX’s network can provide more global internet coverage thanks to its hundreds of Starlink satellites in low-Earth orbit, which communicate with…
AstraZeneca, an Anglo-Swedish pharmaceutical company, announced on Tuesday that it will acquire Canadian drug researcher Fusion Pharmaceuticals Inc. for $2 billion in cash as part of its bet on cancer medicines of the future. With this acquisition, AstraZeneca gains a footing in the market for radiopharmaceutical medications, which has drawn interest from investors since Novartis’…
Authorities are still debating how to address the bank’s weaknesses a year after the Credit Suisse banking crisis brought the bank to its knees. This is especially true in Switzerland, where the firm’s acquisition by rival UBS formed a massive entity. The run at little-known U.S. regional institution Silicon Valley Bank in March 2023 put…
In the 1940s, McDonald’s was a physical establishment with employees working at counters, paper menus listing the burgers and fries, and cashier employees accepting payments from customers. It wouldn’t be too much of a stretch to refer to McDonald’s as a tech company that also happens to sell burgers given how pervasive technology is in…
Due to growth at car dealerships and petrol stations, U.S. retail sales increased in February; nevertheless, as households struggle with inflation and rising borrowing costs, consumer spending is slowing down. This month, retail sales increased by 0.6%, the Census Bureau of the Commerce Department announced on Thursday. Sales for January were down 1.1% as opposed…
A Chinese foreign ministry official criticised a bill in the United States that would require TikTok to divest or ban the platform, saying there is “no fairness to speak of” in using national security as an excuse to lessen other nations’ economic edge. The action is the most recent in a slew of steps taken…
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