The court in the Swiss canton of Zug ratified the settlement agreement made on April 30, 2025, between Nord Stream 2 AG (the builder of the Nord Stream 2 gas pipeline) and its creditors, the court announced in a statement. The release indicates that the choice regarding the settlement agreement is open to appeal. As the decision from May 9, 2025, is still not in effect, the cantonal court...

According to The New York Times, Google has consented to pay $1.375 billion to the state of Texas to resolve two lawsuits over accusations of breaching consumer protection laws. State officials charged the company with breaching data privacy, such as user location and facial recognition, according to Texas Attorney General Ken Paxton. “In Texas, large technology firms are subject to the law. For...

According to Bloomberg, citing sources, US AI firm OpenAI, creator of ChatGPT, has reached a deal to acquire Exafunction Inc. for approximately $3 billion. Exafunction is the creator of Windsurf (previously known as Codeium), an AI-based programming tool. As per the sources from the agency, the agreement has not been finalized yet. Exafunction recently engaged in discussions to secure funding...

According to sources cited by Bloomberg, Saudi budget carrier Flynas anticipates conducting an IPO valued at $1 billion. Earlier, Flynas revealed that it plans to provide investors approximately 51.26 million shares in the IPO, with certain shares being sold by current shareholders, among them Saudi Prince Alwaleed bin Talal's Kingdom Holding Co. Overall, Flynas intends to offer securities...

Uber Technologies, headquartered in the US and offering cab-hailing and food delivery services, reported a net profit for the first quarter of 2025, contrasting last year's loss, and surpassing market expectations. The firm's earnings, nonetheless, did not meet expectations. Uber announced a net income of $1.78 billion, equating to $0.83 per share, for the January-March quarter, in contrast to...

US food producer Tyson Foods experienced a significant decline in net profit during the second quarter of fiscal 2025, although the adjusted amount exceeded analysts' predictions. The firm announced a net income of $7 million, or 2 cents a share, for the January-March period, a decrease from $145 million, or 41 cents a share, a year prior. Earnings without one-off factors reached 92 cents per...

Apple Inc., located in the US, reported second fiscal quarter revenue and net income that exceeded market expectations. In a press release, the company announced that its net income for the quarter that ended on March 29 was $24.78 billion, or $1.65 per share, in contrast to $23.636 billion, or $1.53 per share, for the same period last year. Revenue grew to $95.359 billion, up from $90.753...

Bloomberg reports, citing sources, that South Korean LG Electronics Inc. has halted its plans for the IPO of its Indian subsidiary because of market fluctuations. They stated that the company has informed advisers about the possibility of delaying the IPO of LG Electronics India (LG India), originally scheduled for May. The ultimate decision is still pending, and LG might opt to launch the...

Hyundai Motor of South Korea revealed that it has signed a memorandum of understanding with Posco Holdings to collaborate on building a steel plant in the United States. As stated at the close of March, Hyundai Steel (a division of Hyundai Motor) intends to construct a 2.7 million tonnes annually steel plant in Louisiana by 2029. An investment of $5.8 billion is expected. "The Louisiana steel...