Intel's $7.86B US Subsidy Restricts Sale Of Chipmaking Unit
Intel revealed that the U.S. government subsidies require it to retain at least 50.1% ownership of Intel Foundry if separated into a private entity, and limit sales to a single shareholder to 35% if the unit becomes public, before running into "change-in-control" provisions.
Netflix Prevails In Shareholder Lawsuit Over Account Sharing Impact
The proposed class action lawsuit was filed after Netflix revealed in April 2022 that it had lost 200,000 subscribers in the previous quarter.
Bluesky Faces EU Scrutiny Over Disclosure Failures
The European Commission, the EU's executive body, had contacted the 27 national governments to check "if they can find any trace of Bluesky," including locating an EU-based office.
India's Antitrust Body Rejects Apple's Bid To Halt Competition Violation Report
In November, Apple alleged the primary complainant in the antitrust case, the Indian non-profit Together We Fight Society (TWFS), had not complied with the directive to confirm that the old investigation reports were destroyed, as per an internal order from CCI.
Senator Calls Salt Typhoon The Worst Cyberattack In U.S. History
Chairman of the Senate Intelligence Committee, Mark Warner said Salt Typhoon telecom hack makes Colonial Pipeline and SolarWinds, the major cyberattacks linked,to Russian-speaking criminals and to the Russian government — "look like child's play."
US DOJ Moves To Break Up Google, Seeks Sale Of Chrome Browser
In a 23-page filing, the Department of Justice stated that forcing the company to divest Chrome would level the playing field for competitors in the search market.
Comcast To Unveil Plans For Cable Networks Spin Off On Wednesday: Reports
CNBC, MSNBC and E! are among the affected networks.
Nippon Steel Makes Anti-Import Vow To Save US Steel Deal Amid New Tariffs
The Japanese steelmaker aims to complete the takeover of United States Steel Corp before President-elect Donald Trump, who had vowed to block the acquisition during his campaign, assumes office in January.
Nearly 80 Million Americans Expected To Travel This Thanksgiving, Setting New Record
International flight bookings have risen 23% compared to last Thanksgiving, and the average cost of tickets has dropped by 5%.
Bluesky Gains Millions Of Followers As Some X Users Seek Alternative
The surge in interest for alternative platforms comes amid growing concerns over upcoming changes to X's terms of service and content moderation.
Top Execs At Trump Media Sell Over $16 Million In Company Stock After Election
CFO Phillip Juhan sold the majority of the company's stocks, while director Eric Swider and general counsel Scott Glabe each sold smaller amounts of the shares. Trump stated that he has no intention of selling his shares in Trump Media and called for an investigation into anyone making claims to the contrary.
Endeavor Announces Deal To Sell OpenBet, IMG Arena For $450M To OB Global
The company called the transaction a crucial step toward the completion of the proposed Endeavor take-private by Silver Lake. It is subject to standard closing conditions, including the necessary approvals from relevant gaming regulatory authorities, and is expected to close just prior to the finalization of the take-private deal.
US Restricts TSMC's Export Of Advanced Chips To China: Report
The new order, set to take effect on Monday, comes weeks after TSMC notified the Commerce Department that one of its chips had been found in a Huawei AI processor.
Trump's Tariffs Could Create Long-Term Inflation, Warns Fed's Kashkari
The Federal Reserve's Neel Kashkari cautioned that if the tariffs trigger a tit-for-tat response, it could create significant challenges and uncertainty.
TSMC, GlobalFoundries Set To Win Final Chips Act Awards: Report
The Chips Act allocates $39 billion in grants, along with billions more in loans and 25% tax credits, to boost U.S. semiconductor manufacturing after much of the production moved to Asia.
Voters Sue Elon Musk For Fraud Over $1 Million Giveaway, Claiming Winners Were Predetermined
Arizona resident Jacqueline McAferty claims she would not have signed the America PAC petition or shared her personal information had she known the winners were chosen to serve as spokespeople for the pro-Donald Trump PAC and not selected randomly, as claimed, for the $1 million prize.
Meta Extends Ban On New Political Ads Beyond US Election Day
The move highlights the tech company's efforts to combat the widespread spread of misinformation, as experienced during the last presidential election. However, Meta did not disclose the specific date on which it will lift the restriction.
Boeing Workers End 53-Day Strike, Accept New Offer
The new offer includes an immediate 13% raise, followed by 9% hikes in each of the next two years, and a 7% increase in the fourth and final year of the contract, resulting in a total pay increase of over 43%. Additionally, workers will also receive a $12,000 ratification bonus.
Blackstone In Advanced Discussions To Buy Shopping Center Owner Retail Opportunity: Report
This year has seen a slowdown in real estate deal-making, with U.S. mergers and acquisitions declining by 39% to $27.1 billion, according to data from Dealogic. Elevated interest rates have raised borrowing costs, impacting the market.
JPMorgan Chase To Pay $151 Million To Settle 5 SEC Enforcement Cases
J.P. Morgan Securities and J.P. Morgan Investment were accused of misleading customers with inaccurate disclosures, breaching its fiduciary duty and engaging in prohibited joint transactions and principal trades.
Ford To Pause F-150 Lightning Production, Reduce Manager Bonuses Amid Cost Cuts
Earlier this week, Ford announced third-quarter net income of $900 million, or 22 cents per share, which included a $1 billion charge related to the cancellation of a planned three-row electric SUV.
Philadelphia Judge Orders Elon Musk To Attend Court Over $1 Million Giveaway
Philadelphia District Attorney's Office filed a lawsuit against Musk's America PAC calling the giveaway an "illegal lottery" that encouraged residents to share their personal information, without explaining how their privacy will be protected.
Charles Schwab To Expand 24-Hour Trading Platform
The decision follows growing requests from retail investors seeking more flexible trading hours. The rollout will start the week after the U.S. presidential election.
JPMorgan Sues Customers For Stealing Money By Exploiting ATM Glitch
Chase has initiated four lawsuits, on Monday, in three federal courts in Houston, Los Angeles and Miami, alleging that two individuals and two businesses unlawfully kept over $661,000 after depositing checks that were later identified as counterfeit.
Quarter Pounder To Return To McDonald's Menu After Tests Clear Beef Patties As E.coli Source
McDonald's ruled out beef patties as the source of the E. coli outbreak linked to Quarter Pounder hamburgers, citing tests conducted by the Colorado Agriculture Department.
McDonald's E. coli Outbreak: Fast-Food Chains Pull Onions After Taylor Farms Identified As Supplier
Burger King, KFC, Pizza Hut and Taco Bell have removed fresh onions from their menu due to a deadly E. coli outbreak.
Apple Previews New AI Features In iOS 18.2 Beta
Apple Intelligence has been available to developers and early users, while some features are currently being tested by the public and will be officially released next week with the rollout of iOS 18.1.
McDonald's US Chief Reassures Food Safety After E. coli Outbreak
Director of food safety at the Association of Public Health Laboratories, Shari Shea warned that E. coli O157:H7 strain can cause "very serious disease," particularly affecting the elderly, children, and individuals who are immunocompromised.
New 'Open Banking' Rule Enhances Consumer Choice, Simplify Switching Financial Services
The new rule aims to encourage competition and expand consumer choices, which is expected to lower loan prices and enhance customer service across the payments, credit, and banking sectors.
Meta Resumes Facial Recognition Tech To Combat Celeb-bait Scams
The company will enroll around 50,000 public figures to launch a global trial in December, excluding major jurisdictions where it lacks regulatory clearance, such as Britain, European Union, South Korea, and Texas and Illinois in the United States.