Business

Fewed by - Momin Shahab

An American federal court has declared that Elon Musk is not liable for calling a Thai cave explorer a 'Pedo Guy' on Twitter. Musk testified at his own trial and said that his comments were in jest and not meant to be taken literally. After the trial, he said that his 'faith in humanity has been restored' at a press conference.

elon-musk trial defamation pedo-guy diver

Fewed by - Momin Shahab

Uber has revealed that it got around 3,000 complaints regarding sexual assault from the US in 2018. This is a 16% decrease from previous years and Uber says that this number will continue to go down. The company also said that around half of all aggressors in these situations were customers.

uber app car sexual-assault ride-sharing taxi

Fewed by - Muzammil Zafar

The Saudi Arabian state-owned oil company is going public next week with a record-breaking initial public offering of 25.6 billion USD, which beats Chinese firm Alibaba's record of 25 billion USD. While Saudi crown prince Muhammad bin Salman had set his sights on a colossal 2 trillion dollar valuation, Aramco will still be the world's most valuable company at 1.7 trillion USD, miles ahead of Apple's 1.17 trillion dollar record.

apple saudi-arabia aramco alibaba chinese record muhammad-bin-salman crown prince

Fewed by - Muzammil Zafar

Exercise bike manufacturer Peloton is facing 1.5 billion USD in losses as the company's stock nosedived following a controversial Christmas advertisement campaign for their new exercise bike, which has been widely criticized on social media for containing sexist tropes. The ad video features a woman getting a Peloton exercise bike from her partner despite already being slim and fit, which viewers say reinforces unrealistic body expectations.

video social-media crash controversy stock christmas peloton exercise-bike adverstisement sexist

Fewed by - Momin Shahab

The state of Minnesota is suing Juul, claiming the company advertised to young people and is responsible for the high rates of vape use among the youth. The government has accused Juul of misrepresenting information by claiming to be a safer alternative to cigarettes, despite having nicotine levels that are much higher.

juul vape minnesota smoking youth

Fewed by - Momin Shahab

Lyft, a popular ridesharing app, is being sued by over 20 people who claim to have been abused or raped by drivers they found via the app. They have accused the company of not taking any safety measures to prevent such things from happening. Lyft has since released a number of safety updates but none have fully satisfied the plaintiffs.

uber crime careem assault sexual-assault lyft

Fewed by - Muzammil Zafar

Fears of a no-deal situation between the United States and China are driving global financial markets down, with Asian markets witnessing a flurry of selling in response to the Trump administration's statement that a US-China agreement could be delayed until after next year's elections. Unless the two countries can negotiate a deal, a new wave of heavy tariffs on Chinese goods will be imposed by the US in December.

elections china finance markets trade tariffs global united-states

Fewed by - Momin Shahab

According to some new analysis by Fair Tax Mark, some of the largest companies in silicon valley have not been paying all of their taxes. These companies have underpaid the government by $10 billion over the last ten years. These companies include Google, Facebook, Apple, and Netflix. These companies were able to use tax havens to avoid paying the full amount.

facebook apple google amazon netflix tax fraud silicon-six

Fewed by - Muzammil Zafar

Larry Page and Sergey Brin, co-founders of search giant Google and parent firm Alphabet, announced their resignation from their roles as co-chiefs of Alphabet. Sundar Pichai, current CEO of Google, will also take over the CEO's role for Alphabet. While not holding top management positions in their companies, Page and Brin will retain their 51% voting majority stake in the company.

ceo google voting resignation alphabet sergey-brin larry-page sundar-pichai

Fewed by - Muzammil Zafar

In response to the French government's newly introduced tax for tech firms, which will tax them on sales rather than profits, the US government has stated it is considering retaliating by imposing a 100% tax on French champagne and cheese, a threat the French president has called "completely moronic". Most of the tech firms affected by the tax are American, and have firmly denounced the new French tax regime.

tech trump government tax president french united-states firms champagne cheese

Fewed by - Momin Shahab

Amazon workers and climate change activists have organized mass demonstrations all over Europe to protest the company's poor treatment of its workers and the environment. Workers went on strike on Black Friday, the busiest day of the year, to voice their concerns and demand better conditions. Amazon has often come under fire for its poor treatment of workers.

protest amazon labor workers worker-rights manual

Fewed by - Momin Shahab

With plastic pollution becoming one of the most pressing issues facing the world today, Coca-cola has announced that they will be replacing the plastic wrap they use to package their drinks, with new paper board technology. They are currently only pursuing this initiative in Europe and will complete their transition by 2021.

environment climate-change global-warming plastic pollution coca-cola

Fewed by - Muzammil Zafar

Joining the ranks of app-only banks such as Revolut, Monzo and Starling, RBS has launched its digital bank app Bo, which is geared towards aiding users manage their income more efficiently. The app was released as RBS' response to data revealing that more than 75% of British citizens spend their incomes in unsustainable ways, and hopes to encourage more responsible spending and saving habits.

britain income british royal-bank-of-scotland bo revolut starling monzo spending saving

Fewed by - Muzammil Zafar

Car manufacturer Volkswagen is facing a class action lawsuit from upwards of 90,000 customers in the UK. The customers claim VW installed manipulative software on their car models with the intention of cheating emissions tests, without making the car emit fewer emissions in actuality. VW admitted to the hack in 2015 and since then has settled multi-million dollar lawsuits in various countries.

uk britain lawsuit volkswagen cheat software-test class-action uk-history emissions-test

Fewed by - Momin Shahab

This year's Black Friday pulled in a record $7.4 billion in online sales as more and more Americans turn to their mobile phones to shop. Many claim that Cyber Monday will be even larger, with Adobe predicting $9.4 billion in online sales. Electronics have brought in the most revenue this year.

blackfriday online retail sale

Fewed by - Muzammil Zafar

German car manufacturer and parent company of Mercedes-Benz, Daimler announced that due to the worldwide push to go from combustion engines to electric, the company would be laying off employees "in the five figures" in order to cut down on costs and also to reduce their carbon footprint. aiming to manufacture cars in a more responsible way.

mercedes german daimler benz jobs employment

Fewed by - Momin Shahab

Giant clothing brand, H&M, has decided to test a new clothing rental service in order to be environmentally friendly. The service is currently only available in one city and can be used by all members of H&M's loyalty program. The trial period will last for three months and if all goes well, they will expand the service to other cities.

environment climatechange globalwarming environmentalism bacteria fashion hm clothes

Fewed by - Momin Shahab

The Chinese government has announced that Europe's new carbon border tax will end up increasing the prices of all Chinese goods within Europe and will thus harm global trade. China also said that this move violates the Paris agreement, which says that richer countries should bear the cost of cutting emissions.

china climatechange globalwarming tax trade co2

Fewed by - Muzammil Zafar

After Leiden University severed ties with Facebook's operations in the Netherlands last year, Nu.nl remained the only fact-checking company working for Facebook in the country, but have recently announced that they too are going to end their relationship with the social media giant, citing an increasing discomfort with its policies.

facebook university dutch netherlands nunl fact checking service leiden

Fewed by - Muzammil Zafar

Furniture-maker Ikea's parent company, Inter Ikea Group, has decided to invest an additional 200 million EUR into the company's green energy and sustainability projects aiming to achieve carbon neutrality by 2030. According to the company's statement, the new investment will be utilized for reforestation projects in tropical countries and sustainable forest management, among other projects like plastic and textile recycling.

investment green sustainable ikea inter group recycling reforestation carbon neutrality

Fewed by - Muzammil Zafar

In an agreement that will make them the fourth biggest car manufacturer in the world, Fiat Chrysler and PSA recently released information to their employees about the two companies' upcoming merger. In response to retaliatory litigation from General Motors, FCA chairman Elkann has stated he is not bothered by it and remains confident of a final agreement being reached in the next few weeks.

car gm peugeot chrysler merger manufacturer

Fewed by - Bilal Jafar

Shares of Chinese e-commerce giant Alibaba surged on Tuesday as the company made its debut on the Hong Kong Stock Exchange. Alibaba listed its shares at 176 Hong Kong Dollars per share, which makes it the biggest listing so far this year. Shares price jumped from 176 to intraday high of 189.50, a more than 6% jump on the first day of trading. Analysts consider this listing a successful one

china alibaba hongkong stock jackma listing

Fewed by - Momin Shahab

Mcdonalds has agreed to settle a lawsuit for $26 million. The suit was filed by Mcdonald's employees in California who were complaining about the poor working conditions and low wages. The workers were not paid overtime and had shifts that lasted entire nights. Mcdonalds will now also provide employees with new uniforms without cost in case their old ones get work out or damaged.

mcdonalds humanrights safety rights workenironment workers

Fewed by - Momin Shahab

Elon Musk's legal team has announced that the tech billionaire will be testifying in his defense during the defamation lawsuit that has been brought against him. The suit was filed by a cave explorer who Elon called a 'Pedo Guy' on Twitter. Musk later apologized and deleted the tweet.

tesla elonmusk cave defamation

Fewed by - Muzammil Zafar

Digital payments firm Paytm, planning to diversify into insurance, lending, stockbroking and investment, managed to acquire 1 billion USD in additional funding from investors at a 16 billion USD company valuation. Investors include Japanese company Softbank, which backed the failed WeWork office-sharing venture and recently reported its first quarterly loss in 14 years.

india investment japan digital softbank paytm funding payment wework