Boohoo Agrees Settlement on a U.S Class Action Lawsuit

UK based online fashion retailer Boohoo Group plc. (LON: BOO) has agreed to a final settlement on a United States class action lawsuit in which the company is accused of running misleading promotions in California. Boohoo sells shoes, clothes, accessories and beauty products aimed at people aged between 16 to 40 years. The company is […]

Hyundai Will be Investing Over $10 Billion in the U.S Over the Next Three Years

South Korean auto manufacturer Hyundai Motor Group. (KRX: 005380) announced that it will be investing over $10 billion in the United States over the next three years in efforts to strengthen collaboration with U.S. firms in advanced technology. The announcement was made during the past weekend when U.S President Joe Biden visited South Korea. The […]

Al Gore Chaired Investment Group Launches $1.7 Billion Fund

Generation Investment Management, a financial service and investment management company chaired by former United States Vice President Al Gore launched a $1.7 billion fund which will be invested in minority stakes at private companies focuses on what it terms as sustainable future. The company says it has assets worth $36 billion under its management, the […]

Truth Social App May Raise $50M Before Merger Deal With SPAC Closes

Recently developed social media app Truth Social may end up raising $50 million through convertible notes before its parent company Truth Media & Technology Group (TMTG) merges with the Special Purpose Acquisition Company (SPAC) Digital World Acquisition Corp (DWAC). This was revealed through a regulatory filing made by the venture owned by former United States […]

Tesla Recalls 107,293 China Made Model 3 and model Y Vehicles

China’s market regulatory agency claims that leading electric vehicle manufacturer Tesla Inc. (TSLA) is recalling a total of 107,293 China made Model 3 and Model Y vehicles. The agency made the announcement of May 16 citing that the vehicles are being recalled due to overheating which may cause the center touchscreen display to malfunction. Citing […]

Google Paying More Than 300 European Union Publishers for News

Google’s parent company Alphabet Inc. (GOOGL) has inked a deal to pay over 300 publishers across Germany, France and four other European Union countries for their news. According to the deal goggle will roll out a tool to make it easier for other to sign up too. Three years ago, the EU adopted a game […]

Chipmaker Infineon Increases its 2022 Revenue Outlook

German based computer chip manufacturer Infineon Technologies AG (ETR: IFX) has raised its 2022 revenue outlook after posting a 22% revenue  increase in the second quarter which it attributed to the increased demand of chips courtesy of the coronavirus pandemic. The company raised its 2022 revenue guidance by 500 million euros ($525.20 million) to around […]

Meta Opens Access to AI Large Language Model

Technology company running various social media platforms Meta Platforms Inc. (FB) announced having opened access to a large language model for artificial intelligence (AI) research purposes this week. Large language models are natural languages processing systems which are trained on huge volume of texts and are capable of answering reading comprehension questions or generating new […]

Megan Markle’s Animated Series ‘Pearl’ Dropped by Netflix

Subscription streaming service and production company Netflix Inc. (NFLX) has dropped Markle’s family animated series ‘Pearl’ after reviewing its animated content. In a press statement, the company said it dropped several projects including Pearl as part of its strategic decisions on production of animated series. Two animated children’s series ‘Dino Daycare’ and ‘Boons and Curses’ […]

Mercedes-Benz Expects High Q2 Inventory Amid Global Chip Shortage

German based car manufacturer Mercedes-Benz Group AG (ETR: DDAIF) is expecting inventories to remain high in the second quarter even as supply chain glitches continue to affect production and deliveries. The global computer chip shortage is responsible for the production disruptions which has largely affected the auto industry. This was revealed by the company’s chief […]