Ford will sell 8 million shares in electric car maker Rivian after its stock gets out of the lockup this Sunday, May 8, sources told CNBC. Ford Motor will sell 8 million of its shares in electric car maker Rivian Automotive, CNBC reported, citing sources. The stock is set to expire on Sunday, May 8, a lock-up period in which it cannot be sold. According to CNBC, Goldman Sachs will arrange the...

American Illumina, which develops genome analysis technology, was ordered to pay $333 million to a division of its Chinese competitor, BGI Group. After determining that Illumina's DNA sequencing devices infringed on two of BGI Group's patents, a Delaware jury ordered Illumina to pay more than $333 million to Complete Genomics, the U.S. division of BGI Group, a Chinese genomics business. Reuters...

Brazilian oil and gas giant Petrobras posted a net profit attributable to company shareholders of $8.648 billion in the first three months of 2022, a 43-fold increase on the previous year, the company said. Revenues in the first three months of the year reached $27.189 billion, 1.7 times higher year on year. Adjusted EBITDA rose 1.7 times to $14.961 billion. The company's total debt was $40.072...

Elon Musk has received $7.14 billion in funding to buy Twitter from a group of investors including the largest cryptocurrency exchange Binance, Qatar Holding, Tesla board member Larry Ellison and Saudi Prince Al Waleed bin Talal Al Saud, according to the Securities and Exchange Commission (SEC). Twitter, Inc. had earlier announced an agreement with Musk to buy the company for $44 billion. In...

Exxon Mobil has reached an agreement to sell its Romanian subsidiary Exxon Mobil Exploration and Production Romania to local company Romgaz for more than $1 billion, according to a press release from the US oil and gas giant. "The agreement includes all shares in Exxon Mobil Exploration and Production Romania, as well as an interest in subsoil area XIX Neptun offshore Romania," the US company...

The EU accused Apple of abusing its dominant position in the market because of the payment service Apple Pay. The European Union has filed its objections to Apple for possible violation of antitrust laws: the watchdog believes that the company has abused its dominant position in the field of mobile payments.  Apple is restricting access of the third-party developers to the NFC technology,...

Investors sued Credit Suisse. The bank and its managers are accused of failing to disclose all risks from business related to the sanctioned Russian billionaires. A group of individual investors and organizations filed a class action lawsuit against Swiss bank Credit Suisse and some of its managers, accusing them of violating securities disclosure laws, law firm Pomerantz said. The suit was filed...

According to Bloomberg, the Abu Dhabi National Oil Business (ADNOC) has purchased a 25% share in the Austrian chemical company Borealis AG from the Emirati investment group Mubadala Investment. The deal's financial specifics aren't known. This purchase is part of a larger UAE initiative to attract foreign investment and technology, as well as development of new industries and manufacturing. ADNOC...

Boeing Co., based in the United States, one of the world's major producers of aircraft, spacecraft, and military equipment, reported a net loss of $1.242 billion in the third quarter, more than double its loss a year ago, according to corporate data. Experts expected a loss of $0.19, diluted loss per share was $2.06 versus $0.92 for January-March 2021. Adjusted loss per share was $2.75. At...