The fourth quarter of 2023 saw a 2.2-fold decline in net profit for Biogen Inc., a US biotechnology company. This decline was partly caused by one-time expenses related to the decision to forgo the development and marketing of Aduhelm, a medication intended to treat Alzheimer's disease. In October through December, the company's net income was $249.7 million, or $1.71 per share, as opposed to...

Due to discontent with wages and other working conditions, drivers for Uber Technologies, Lyft Inc., and DoorDash—three U.S. taxi and delivery services—will go on strike on Valentine's Day, February 14, according to RTTNews. The Justice For App Workers movement is organizing protests at airports with over 100,000 drivers as members. "We are sick of working 80 hours a week just to make ends...

The California judge ruled that Elon Musk will have to appear before the Securities and Exchange Commission (SEC) once more as part of an inquiry into potential irregularities in the acquisition of Twitter in 2022. Billionaire Elon Musk will have to appear again before the Securities and Exchange Commission (SEC) in the federal court in California as part of an inquiry into potential violations...

According to Bloomberg Law, the Operating Engineers Construction Industry and Miscellaneous Pension Fund sued Pioneer Natural Resources Co., a producer of oil and gas in the United States, in Delaware Chancery Court to obtain its internal documents so that they could evaluate the management's actions during the company's merger with ExxonMobil. The fund, which owns a portion of Pioneer, is...

Deutsche Boerse AG, the exchange’s operator, saw a 13% increase in net profit and a 20% gain in revenue in Q4. The company's net profit for October through December of 2023 was €427.4 million, up from €378.9 million in the same period the previous year. EPS increased from €1.96 to €2.2. Revenue increased to €1.436 billion from €1.168 billion in the previous year. EBITDA for Deutsche Boerse...

Maersk's stock dropped 17% in Copenhagen following the release of its projections. Following the release of statements and projections, shares of the Danish shipping corporation Maersk dropped 17% during trading in Copenhagen on February 8, according to CNBC.  Maersk stated in its 2024 earnings projection that there is a lot of uncertainty because of Hussite attacks and an excess of...

According to a press release from the company's U.S. division, Japanese carmaker Toyota Motor plans to invest an additional $1.3 billion on its flagship facility located in Kentucky. Consequently, the firm will receive almost $10 billion in total investments. The additional funding is intended to further the electrification of transportation, namely by creating the possibility of building a...

The Financial Times reports, referring to a statement released by the climate group Follow This, that the group has opted to remove a proposal it had intended to include on the agenda of US ExxonMobil's annual shareholders meeting, which aimed to hasten the reduction of greenhouse gas emissions. To stop the plan, Exxon filed a lawsuit in a Texas district court last week. "Given that Exxon chose...

The Financial Times reports that Asian online apparel company Shein, which is getting ready to go public on the US stock market, has been charged with many copyright violations. At least ninety-three designers and businesses have sued Shein in US courts since 2018. Thirty additional cases have been filed in 2023 alone. Hennes & Mauritz (H&M), a multinational retail conglomerate, and...