Nidec has announced plans to establish a joint venture with Brazilian jet manufacturer Embraer to enter the flying vehicle motor business. The joint venture, called Nidec Aerospace, will be headquartered in St. Louis, Missouri, and will develop and produce components for electric flying vehicles.
Twitter has been sued by music publishers for over $250 million in damages over alleged copyright infringement. The lawsuit, filed by a group of 17 music publishers represented by the National Music Publishers’ Association.
UBS has completed its acquisition of Credit Suisse, finalizing the takeover of its fallen rival. The deal, worth $3.25 billion, was orchestrated by Swiss authorities to prevent a banking sector meltdown and stabilize Switzerland’s reputation as a global financial center.
Billionaire investor and philanthropist George Soros has handed over control of his $25 billion financial and charitable empire to his son, Alex Soros. In an interview with the Wall Street Journal, George Soros stated that his son had “earned it.”
Netflix and Athletic Brewing have partnered to release a series of limited-edition, co-branded non-alcoholic beers inspired by the hit fantasy series “The Witcher.” The first beer in the collaboration is called Geralt’s Gold, a non-alcoholic hoppy helles.
On May 23, 2023, Walt Disney’s Pixar Animation Studios eliminated 75 positions, including those of the director and producer of the film “Lightyear.” This marks the first significant job cuts at the studio in a decade.
Amazon has agreed to pay over $30 million to settle allegations of privacy violations by its Ring and Alexa divisions. The Federal Trade Commission (FTC) filed a lawsuit against Amazon’s Ring doorbell unit, claiming that it violated the FTC Act by engaging in unfair or deceptive business practices.
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the appointment of Richard Teng as the head of all its regional markets outside the United States.
Target, the renowned retail corporation, has recently faced intense backlash and threats from customers regarding its LGBTQ+ merchandise ahead of Pride month.
China has banned US memory chip giant Micron Technology from participating in key infrastructure projects in the country, citing “serious network security risks” posed by the company’s products.
