New theme park in Abu Dhabi to cost over $10 billion to construct, but the company will not contribute.
Disney is set to launch its first new theme park in over a decade, planning a lavish resort in Abu Dhabi at a cost of $10 billion. The entertainment company unveiled the Landmark project on Tuesday, calling it a significant milestone akin to the opening of Disneyland in 1955. During a quarterly revenue call, Disney […]
Liberal senators encourage CBS’s parent company to avoid settling with Trump.
Sanders and Colleagues Urge Paramount’s Redstone to Stand Firm Against Trump Senator Bernie Sanders of Vermont, along with eight fellow Democrats, has reached out to Shari Redstone, a major shareholder of Paramount Global, concerning President Donald Trump’s lawsuit against CBS News. Trump is pursuing $20 billion in damages, alleging that CBS interfered in the election […]
Danish company cancels large UK wind farm project due to increasing expenses
One of the largest offshore wind farms planned in the UK has been scrapped by its developer, Ørsted from Denmark, due to escalating costs and risks. The fourth phase of the extensive Hornsea Wind Farm project, situated off the Yorkshire Coast, was set to feature 180 massive turbines capable of generating enough green energy to […]
Israeli spyware company NSO instructed to compensate Meta and WhatsApp almost $170 million for hacking.
A federal judge in California has ordered the Israeli cyber intelligence firm NSO Group to pay Meta and WhatsApp nearly $170 million for hacking approximately 1,400 users of the messaging app. The company, known for its Pegasus surveillance tool, is set to pay $167,256,000 in punitive damages along with an additional $440,000 in compensation. This […]
Legal battle between Meta and NSO concludes with a $168 million loss for the spyware company
Meta Wins $168 Million Verdict Against NSO Meta Platforms has secured a $168 million decision against the Israeli surveillance company NSO, marking the conclusion of a six-year legal battle between the prominent U.S. social networking platform and the infamous spyware firm. The case stemmed from NSO’s unlawful exploitation of a vulnerability in Meta’s messaging service, […]
3G Capital acquires Skechers for $9.4 billion, making the footwear company privately owned
3G Capital, a private equity firm, has finalized an agreement to acquire Skechers and transition the footwear brand into a private entity. This multi-billion dollar agreement, announced on Monday, received “unanimous” backing from Skechers’ board. As part of the arrangement, 3G Capital will buy Skechers shares at $63 each. Shareholders of Skechers can also choose […]
Toy company Mattel adjusting prices because of Trump tariffs
Mattel, known for its Barbie Dolls, announced on Monday its strategy to handle the effects of President Trump’s tariffs. The company indicated it might adjust prices to address potential financial losses if needed. In its first quarter report, Mattel acknowledged the challenging macroeconomic landscape marked by fluctuations in global trade policies and US tariffs. While […]
OpenAI abandons its intention to become a for-profit company.
OpenAI has decided to stick with its nonprofit model, reversing its earlier intentions to transition into a for-profit entity. On Monday, the organization announced that its nonprofit status will continue to oversee the artificial intelligence company. In a message to employees, CEO and co-founder Sam Altman explained that the nonprofit had consulted with civic leaders […]
OpenAI states that the nonprofit will maintain oversight of the company.
OpenAI’s CFO Sarah Friar spoke about collaborations with SoftBank, the role of artificial intelligence, and the introduction of OpenAI’s “Deep Research” tool, acknowledging the impact on Deepseek’s domain. On Monday, OpenAI revealed that it has decided not to transition from its non-profit model to a for-profit setup. The creator of ChatGPT has established a for-profit […]
Skechers stocks rise 25% following a $9.4 billion agreement to become a private company.
Skechers has come to an agreement that marks the largest acquisition in the footwear industry, positioning 3G Capital as a private entity valued at $9.42 billion. 3G Capital has proposed a cash offer of $63 per share for Skechers, as announced by the brand on Monday. This offer reflects a 28% premium based on the […]