The penalty was calculated in accordance with the EU merger rule, which permits fines of up to 10% of a company's annual revenue. The US biotech corporation Illumina was penalized €432 million by the European Commission (EC) for acquiring US cancer test manufacturer Grail without the necessary antitrust clearance from the EU, according to a statement issued by the European Commission. "The...

The San Francisco court has given Microsoft Corp. permission to complete the acquisition of Activision Blizzard, a large US video game company. The accompanying judgment was published on Tuesday in the Northern District of California court database. The decision was made by Judge Jacqueline Scott Corley, who stated, "The court denies the motion for temporary lockup." The judge stated, "The...

One of the factors behind the carrier's decision, according to the Independent newspaper, was airspace constraints caused by the situation in Ukraine. 1.7 thousand flights that were scheduled to operate in Gatwick, the second-busiest airport in London, have been dropped by British airline easyJet for the months of July, August, and September. According to a Monday report by The Independent, one...

According to Bloomberg, Jack Ma's businesses have suffered losses of more than $ 850 billion as a result of his disputes with the Chinese government. The confrontation between Jack Ma and Beijing has cost his businesses more than $850 billion, Bloomberg summarized the nearly three-year-long effort the Chinese government used to target the millionaire. Chinese officials announced on Friday, July...

Suspension of all excursions has been declared by OceanGate, the firm in charge of the Titan bathyscaphe that sank in the Atlantic Ocean in June, killing five people, including Stockton Rush, the company’s head. The notice is displayed in one red line on OceanGate's website, and it's not apparent when it first appeared. According to AFP, it took place on July 6. The company said that "OceanGate...

Major pharmaceutical companies want to increase production in China because of the country's aging population, rise of chronic diseases, and gastrointestinal ailments. A contract has been reached by American company Moderna to produce matrix RNAi-based medicines for the Chinese market, reported The Financial Times. Drugs created in accordance with this agreement will only be used by Chinese...

According to Bloomberg, the national oil corporation of Abu Dhabi and the Austrian oil and gas behemoth OMV are considering combining their two businesses, which could create a $30 billion plus petrochemical behemoth. ADNOC, the national oil corporation of Abu Dhabi, and OMV, the largest oil and gas company in Austria, are considering merging their two businesses, Borouge and Borealis, Bloomberg...

The FT has discovered that Apple has dramatically scaled back its production plans for its new mixed reality helmets in 2024. According to the Financial Times, which cited sources, Apple has had to dramatically lower manufacturing projections for its new class of gadgets, the Vision Pro mixed reality headset. The targets were reportedly cut due of the device's intricate construction, according...

Following the European Commission's permission, AD Ports Group got Spain's final approval of the transaction. Following approval from the Spanish government, AD Ports Group of the United Arab Emirates purchased the logistics company Noatum for €660 million (about $720 million). On Sunday, the Abu Dhabi Stock Exchange saw a statement to that effect from the Emirati group. The statement read,...