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European businesses ask for two-year delay in introduction of AI law 07/04/2025

The US plans to limit AI chips supply to Malaysia and Thailand 07/07/2025

Nippon Steel to raise $5.6 billion in subordinated loans to acquire US Steel 07/04/2025

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Ineos To Purchase BP’s Petrochemicals Arm For ‘$5 billion’

Ineos extends its “interest in acetyls” and adds a “leading aromatics business”. BP will be selling its “global petrochemicals business” as Ineos owned by Jim Ratcliffe will buy the same for “$5 billion”. The move to pull out of a sector has been associated with a key driving factor of “oil demand...

Price Of Covid-19 Rug Remdesivir From Gilead Set At $2,340 Per Patient In US

The price for its Covid-19 fighting medicine remdesivir has been priced at $2,340 by Gilead Sciences Inc for a five-day treatment in the United States and in some of the other developed countries. But this pricing strategy also raises the prospect of the treatment facing severe challenge...

Airbus To Cut Nearly 40% Jobs With Low Output

Drop in production, slow delivery and the ongoing pandemic crisis forces Airbus to make “necessary adjustment”. Airbus, in an “imminent restructuring plan”, is considering to cut down “thousands of jobs”, confirmed the chief executive of the company. The discussions are in final stage as it plans...

Exxon Mobil Corp, API and Koch Industries Face Minnesota Lawsuit

Minnesota state charges oil companies as guilty of conducting deceitful global warming campaign to keep the public in the dark. Last week, Minnesota state has filed a case of lawsuit against three companies, namely Exxon Mobil Corp, Koch Industries and the American Petroleum Institute. The charges...

Ford Halts Social Media Advertisement In Support Of Eradicating Online Hate Speech

Ford evaluates its global online presence as it halts its social media advertisement in the U.S. Today Ford Motor Co has informed that for the coming thirty days, it will be putting on hold its social media based advertisements in the U.S. as a part of a movement by a group of companies who have...

Cracks At The Heart Of Germany Inc Revealed By Wirecard's Collapse

German business just had a particularly bad week. While an accounting scandal resulted in the collapse of one of the biggest public companies of the country, another company was a forced to pay billions in damages. And a leading family-owned meat packing firm was dragged into controversy...

Organizers Of Facebook Ad Boycott Campaign To Take It Global: Reuters

After being launched earlier this month, the “Stop Hate for Profit” campaign is now being taken global. Organizers of the Facebook Inc advertising boycott campaign, which has already got support form a growing number of major businesses and companies, are now getting ready to appeal to...

EU to check German financial watchdog in connection with Wirecard scandal

Brussels will demand an audit against the German Federal Financial Supervisory Authority (BaFin) for non-compliance with its responsibilities for the supervision of fintech company Wirecard AG, the collapse of which threatens investor confidence in the EU, Financial Times reports. Valdis...

Microsoft to close all its retail stores

Microsoft announced plans to close all its physical stores as part of a new approach to retail. The company is expected to reserve $ 450 million, or $ 0.05 per share, in the fourth fiscal quarter for write-offs and impairment of assets. The company suspended its Microsoft Store in late March due...

SoftBank Recovers Its Values To ‘Pre-Coronavirus Outbreak’ Levels

SoftBank sees a successful merger and a hike its value after taking beating and heavy debt loads. The C.E.O of SoftBank Group Corp, Masayoshi Son defended his “investing decisions” by saying that the “Japanese conglomerate’s holdings” has managed to recover its values to the levels of...