Photo credit: Philippe Lopez/Getty Images Bird has filed for Chapter 11 bankruptcy, capping a turbulent year for the electric scooter company. In a press release today, Bird confirmed that the company had initiated a “financial restructuring process to strengthen its balance sheet” and that the company was continuing to operate as usual to pursue “long-term, … [Read more…]
Alphabet, Google’s parent company, agreed to pay $700 million and make changes to its online app store, adhering to the terms of an antitrust settlement released Monday. As part of the deal, the company will make changes to its app store to reduce barriers to competition for developers, including allowing apps to charge users directly. … [Read more…]
Apple will stop selling the latest versions of its smartwatch in the US due to a patent dispute and pull some of its best-selling devices from the market during the busy holiday season. Sales of the Apple Watch Series 9 and Ultra 2 will stop on December 21 at the company’s online store and at … [Read more…]
Illumina, the leading maker of gene sequencing machines, said Sunday it would sell Grail, a cancer test developer it bought for $7.1 billion in 2021. The move came two days after Illumina lost its case in a federal appeals court that largely upheld a Federal Trade Commission decision that Illumina should terminate its contract with … [Read more…]
The sales and management areas of the BBQ Québec company are now protected from their creditors, which entails a major restructuring within the company. For almost two months, BBQ Québec has been taking steps to restructure the company, which has required, among other things, the layoffs of some employees. “We had a problem at the … [Read more…]
Sound Transit CEO Julie Timm is leaving her post on Jan. 12 after just 16 months on the job, officials announced Tuesday afternoon. Timm, 53, said she would “return to the East Coast to attend to family matters,” citing her father’s needs, according to a statement from the agency and staff from King County Executive … [Read more…]
A Boeing logo is seen at the company’s technology and engineering center in Sao Jose dos Campos, Sao Paulo state, Brazil, on October 10, 2023. Portal/Gabriel Araujo/File Photo Acquire License Rights Dec 11 (Portal) – Boeing (BA.N) on Monday named 30-year company veteran Stephanie Pope as chief operating officer. That makes her likely one of … [Read more…]
Jack Ma, co-founder of technology giant Alibaba. Wang HE/Getty Images Temu’s parent company, PDD Holdings, is currently more valuable than Alibaba. PDD’s market capitalization overtook Alibaba a day after Jack Ma praised the rival e-commerce upstart. PDD’s market cap is nearly $185 billion, while Alibaba’s market cap is nearly $184 billion. Chinese tech giant Alibaba … [Read more…]
Executives at bankrupt trucking company Yellow on Thursday rejected a billion-dollar offer from investors that could have revived much of the iconic trucking company’s network. When Yellow, founded in the 1920s, went out of business, it left 12,000 trucks, 35,000 trailers and 30,000 workers idle, which could form the basis for a new company. A … [Read more…]
News By Patrick Reilly Published December 9, 2023, 10:03 PM ET A California-based moving company that boasts of its young, athletic employees is being sued by the federal government for age discrimination. The Equal Employment Opportunity Commission filed a lawsuit against Meathead Movers for violating age discrimination law by not hiring enough older workers, the … [Read more…]