Business

234 summaries

All (234)Corporate (92)Economy (44)Automotive (18)Legal (16)Technology (12)Markets (10)

Samsung Faces Largest Strike Over Bonus Dispute

Samsung Electronics is on the brink of its largest-ever strike as wage negotiations with its labor union collapsed over bonus payouts and structural issues within its semiconductor divisions. The dispute has been exacerbated by the global AI boom, which has significantly increased demand for memory

May 14, 1:49 AM ET Est. Read: 2 Mins

28 articles from 6 publishers

BusinessCorporateMIXED REPORTS

Trump Tower Australia Plan Scrapped Over 'Toxic' Brand

The planned Trump International Hotel & Tower in Australia's Gold Coast has been scrapped less than three months after its announcement. According to multiple reports, Altus Property Group CEO David Young cited the 'toxic' image of the Trump brand amid global tensions, particularly the Iran war, as

May 13, 7:33 PM ET Est. Read: 1 Mins

5 articles from 5 publishers

BusinessCorporate

Calbee Switches to Black-and-White Packaging Due to Ink Shortage

Calbee Inc., a Tokyo-based snack manufacturer known for its potato chips and cereal, will switch to black-and-white packaging for 14 products starting May 25. This change is due to an ink ingredient shortage caused by the war in Iran, which has disrupted the supply of naphtha, an oil-derived product

May 13, 4:47 PM ET Est. Read: 1 Mins

3 articles from 3 publishers

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Labor

United Flight Attendants Ratify Contract with 31% Pay Hike

United Airlines flight attendants have ratified a new five-year labor contract that includes an average 31% pay increase , boarding pay worth an additional 7% to 8% in compensation on average, and $ 741 million in retroactive pay. The agreement, which was ratified on Tuesday according to CBS News, c

May 13, 2:48 PM ET·2 min read

3 articles from 3 publishers

Economy

US Home Sales Flat in April Amid Affordability Challenges

U.S. existing home sales were essentially flat in April, rising just 0.2% from March to a seasonally adjusted annual rate of 4.02 million units , according to the National Association of Realtors (NAR). The figure fell short of economists' expectations and was unchanged compared to April last year.

May 12, 5:07 PM ET·1 min read

3 articles from 3 publishers

Corporate

eBay Rejects GameStop's $56B Offer

eBay has rejected GameStop 's $56 billion offer to acquire the company, with eBay Chairman Paul Pressler stating that the proposal is 'neither credible nor attractive.' According to multiple reports, eBay's board of directors and its independent advisors thoroughly reviewed GameStop's unsolicited bi

May 12, 2:48 PM ET·1 min read

3 articles from 3 publishers

Corporate

EBay Rejects GameStop's $56B Offer

EBay has rejected GameStop's $56 billion takeover offer, describing it as 'neither credible nor attractive.' The proposal included a mix of cash and stock but was deemed financially uncertain by eBay’s board. GameStop had offered to acquire the online marketplace for $125 per share but fell short in

May 12, 9:10 AM ET·4 min read

6 articles from 5 publishers

Corporate

Starmer to Fully Nationalize British Steel

British Prime Minister Keir Starmer announced plans to fully nationalize British Steel under new legislation this week, emphasizing the strategic importance of steelmaking for economic resilience. The government took operational control from Chinese owners Jingye in April 2025 to prevent closure of

May 11, 8:35 AM ET·2 min read

5 articles from 3 publishers

Travel

Heathrow Passenger Numbers Dip Amid Iran Conflict

Heathrow Airport reported a 5% decline in passenger numbers for April, citing the ongoing conflict in Iran as the primary reason. According to multiple reports, approximately 6.7 million passengers traveled through Heathrow last month, compared to 7.1 million during the same period in 2023. The airp

May 11, 8:35 AM ET·2 min read

3 articles from 3 publishers

Corporate

Press Freedom Groups Demand Access to Paramount Documents Over Merger Concerns

Press freedom groups are demanding access to Paramount Skydance’s internal documents , citing allegations that the company’s leadership may have promised favors to the Trump administration to win approval for its $111 billion acquisition of Warner Bros. Discovery, according to Los Angeles Times and

May 11, 4:38 AM ET·2 min read

4 articles from 4 publishers

Corporate

GM to Pay $12.75M for Selling Driver Data Without Consent

General Motors (GM) has agreed to pay $12.75 million to settle allegations that it illegally sold the location and driving data of hundreds of thousands of Californians without their knowledge or consent, according to statements by California Attorney General Rob Bonta on Friday. The settlement, whi

May 8, 9:07 PM ET·2 min read

3 articles from 3 publishers

Corporate

Nintendo Hikes Switch 2 Price as AI Chip Demand Bites

Nintendo has announced a global price increase for its Switch 2 console starting in September, citing rising memory chip costs due to AI data center demand as the primary reason. The company also expects a decline in Switch 2 sales and reported lower-than-expected financial forecasts. The price of t

May 8, 9:02 AM ET·2 min read

6 articles from 3 publishers

Automotive

Toyota Reports £3bn Hit From Iran War

Toyota has reported a significant financial impact from the war in Iran, with costs reaching £3 billion due to rising material prices and declining sales. The world's largest automaker announced that profits declined in its fiscal year ending March 2026, marking one of the most substantial warnings

May 8, 9:02 AM ET·2 min read

4 articles from 3 publishers

Trade

Court Rules Trump's Global Tariffs Illegal

The U.S. Court of International Trade ruled that President Donald Trump's latest 10% global tariffs , imposed under Section 122 of the Trade Act of 1974, are illegal but only blocked them for three importers: two small businesses and Washington state. The court's 2-1 decision leaves the temporary ta

May 7, 9:48 PM ET·2 min read

7 articles from 6 publishers

Corporate

Delta Cuts Snacks on Short Flights

Delta Air Lines announced it will end complimentary snack and beverage service on short-haul flights starting May 19. According to CBS News , this change affects about 9% of Delta's daily flights, specifically those under 350 miles in the economy cabin. Passengers flying first class will still recei

May 7, 12:30 PM ET·1 min read

3 articles from 3 publishers

Economy

UK Construction Firms Face Sharpest Cost Rises in Decades

UK construction firms are experiencing some of the sharpest cost rises in nearly 30 years due to the war in Iran driving up prices for fuel and raw materials. The monthly Purchasing Managers’ Index (PMI) for UK construction activity fell to 39.7 in April, marking the lowest level since November and

May 7, 10:06 AM ET·2 min read

8 articles from 3 publishers

Corporate

Shell Profits Surge to $6.92B on War-Driven Oil Prices

Shell reported first-quarter profits of $6.92 billion , exceeding analyst expectations and marking an increase from $5.58 billion a year earlier . The surge in profits is attributed to elevated oil prices due to the Iran war and disruptions in global energy markets. According to multiple reports, Sh

May 7, 2:45 AM ET·3 min read

7 articles from 6 publishers

Corporate

Samsung Discontinues China Sales of Some Consumer Products

Samsung Electronics announced it will discontinue sales of some consumer electronics products in mainland China due to intense competition. The company stated it will make every effort to minimize any impact on customers resulting from this decision and is reviewing various support measures for busi

May 6, 2:42 PM ET·2 min read

8 articles from 3 publishers

Legal

Apple Settles AI Lawsuit for $250M, Offers Up to $95 Per Device

Apple has agreed to pay up to $95 per device as part of a $250 million settlement resolving claims that it misled customers about the artificial intelligence features of its Siri voice assistant. The class-action lawsuit, filed in federal court in the Northern District of California on behalf of U.S

May 6, 2:42 PM ET·3 min read

6 articles from 6 publishers

Corporate

Trump-Backed Crypto Firm Sues Billionaire Justin Sun for Defamation

World Liberty Financial, a cryptocurrency venture co-founded by Donald Trump Jr., Eric Trump, and others, has filed a defamation lawsuit against crypto billionaire Justin Sun. The company alleges that Sun engaged in a 'public smear campaign' after World Liberty froze his assets due to suspected misc

May 6, 2:42 PM ET·1 min read

3 articles from 3 publishers

Automotive

Rivian Plans More R2 EV Variants

Rivian is actively developing additional variants of its upcoming R2 electric vehicle (EV) , according to CEO RJ Scaringe. The company, known for its high-end R1 SUVs and pickup trucks, plans to start deliveries of the R2 around June. The initial rollout will include a $58,000 model, with cheaper ve

May 6, 12:29 PM ET·1 min read

3 articles from 3 publishers

Finance

FSB Warns of Private Credit Risks to Global Stability

The Financial Stability Board (FSB) has warned about the growing risks posed by the expanding private credit industry to global financial stability, highlighting concerns over rising defaults and a lack of transparency in this sector. According to Reuters , the FSB emphasized that the private credit

May 6, 3:52 AM ET·2 min read

4 articles from 3 publishers

Economy

Markets Surge on U.S.-Iran Deal Hopes

Global financial markets reacted positively to President Donald Trump's announcement of progress in U.S.-Iran negotiations, causing oil prices to fall and stock indices to surge. Brent crude dropped between $97-$102 per barrel from its recent peak of $126, as the president reported 'great progress'

May 6, 3:52 AM ET·2 min read

29 articles from 6 publishers

Economy

Airlines Cut 2M Seats Amid Soaring Jet Fuel Prices

Airlines have cut nearly two million seats from May's schedules, canceling more than 13,000 flights globally as concerns grow over soaring jet fuel prices driven by the Middle East conflict. The total number of available seats fell from 132,619,704 in mid-April to 130,674,864 by late April. Accordin

May 5, 7:40 PM ET·2 min read

5 articles from 5 publishers

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Business

Samsung Faces Largest Strike Over Bonus Dispute

Trump Tower Australia Plan Scrapped Over 'Toxic' Brand