U.S. pharmaceutical company Merck filed a lawsuit against the U.S. Department of Health and numerous other governmental organizations in the U.S. District Court for the District of Columbia. According to the company, a provision in the United States' inflation-control law that permits the price of some medications to be negotiated under the country's national health insurance (Medicare) program...

The value of the Elon Musk’s company Neuralink, which creates chips for brain implantation, has surpassed $5 billion, reports Reuters. The Neuralink startup, makes chips for brain implantation, is currently valued at roughly $5 billion. The value is based on shares of Neuralink traded privately in recent months, prior to the company's announcement that U.S. regulators had cleared human trials...

Pixar animation studio has laid off 75 employees. This is the first round of layoffs at the business in ten years, according to Reuters. Among those let go are actor and director Angus MacLane and producer Galyn Susman. They worked on the studio's most recent big release, the Lightyear animated movie. The $200 million budget animation failed as it only made $226.7 million at the global box office...

Lucid Motors, a manufacturer of high-end electric vehicles in the United States, declared its plan to offer more shares of its common stock in order to raise around $3 billion. Lucid has already reached an agreement with the Saudi Public Investment Fund (PIF) to receive $1.8 billion of the aforementioned sum in exchange for 265.7 million common shares. PIF has a significant stake in Lucid,...

Nvidia, a U.S. chip manufacturer, reached a trillion-dollar market valuation. According to trade data, the market worth of the American corporation Nvidia rose quickly to $1 trillion. Nvidia became the first chipmaker to attain such a market value milestone. The company’s shares shot up dramatically after the business revealed a day earlier that it resolved to create Israel's most potent...

Temasek Holdings, a Singapore investment fund reduced financial pays of employees who were in charge of making investments in the cryptocurrency startup FTX Group, which failed last year. Temasek’s internal inquiry determined that the $275 million investment in FTX was not illegal, and did not violate any of the fund's guidelines.  The business also acknowledges that there are risks...

According to the WSJ, US authorities have given a record $279 million prize to whistleblower from Ericsson, who revealed that the Swedish business obtained contracts in poor nations through bribery. A record $279 million award from the U.S. Securities and Exchange Commission (SEC) Cash for Claims program was given to a whistleblower in the case of Swedish telecoms equipment firm Ericsson...

Bloomberg: Nvidia chief's fortune rises to $34 billion after share price spikes. Jensen Huang, the CEO and co-founder of American graphics card manufacturer Nvidia, saw a $6 billion increase in wealth, which brought his total wealth to a record $34 billion, according to Bloomberg. Huang's wealth increased by $6 billion, or 23%, to almost $34 billion at the start of trading, setting a record for...

Italian Ministry of Economy and Finance and Lufthansa Group have announced that the German airline has purchased a part in ITA Airways (formerly Alitalia), the national carrier of Italy. 41% of ITA were purchased by Lufthansa for €325 million. It is an option for Lufthansa to grow its ownership of the Italian business. The German corporation may eventually boost its share to 90%, according to...