Elon Musk found another justification for abandoning the $44 billion purchase of Twitter. The billionaire's attorneys referenced remarks made by the social network's former head of security, who charged management with negligent handling of user data. Bloomberg quotes documents submitted in court by the billionaire's attorneys on Tuesday, August 30. Musk's attorneys cited allegations made by...

U.S. HP Inc. reported net income of $3.205 billion for the first three quarters of fiscal 2021–2022, which concluded on July 31. This is a 5.8% decrease from the same period last year. Diluted earnings for the period were $3.01 on a per-share basis, up from $2.73 for the same period prior fiscal year. Revenue for the time period rose 2.9 percent to $48.182 billion for the corporation. In the...

U.S. regulators will examine Alibaba and other Chinese businesses, according to Reuters, which cited three persons with knowledge of the situation. The China Securities Regulatory Commission (CSRC) and the Chinese Finance Ministry inked a collaboration agreement with the American Public Company Accounting Oversight Board (PCAOB) on Friday, according to news reports. According to sources who...

Elon Musk, the CEO of Tesla, stated that his business will work to have its self-driving technology ready by the end of the year. Although he expressed his desire for it to be broadly accessible in the US and perhaps in Europe, he cautioned that regulatory permission would be required. Musk stated his current focus is on the SpaceX Starship and Tesla's unmanned electric cars while speaking at...

According to a document seen by Reuters, Meta Platforms Inc. and Cambridge Analytica have tentatively reached a settlement deal in their legal dispute over allegedly improper data transfers. The agreement's particulars are still a secret. The parties achieved a compromise, the agency claims, and requested the court for 60 days to allow them to complete the document and submit it to the court....

According to Reuters, Abbott Laboratories has restarted making Similac infant formula at a facility in Sturgis, Michigan. Following allegations of bacterial infections in children who consumed locally produced products, Abbott, the leading supplier of infant formula in the U.S., recalled Similac and other infant formula products made at the Michigan factory in February. In order to address the...

The bank's investment section, which has suffered significant losses over the past few years, needs to be improved, according to Credit Suisse Group AG's largest shareholder. According to David Herro, chief investment officer at Harris Associates, if Credit Suisse can figure out a method to guarantee a consistent return on said unit, it would be the best option for shareholders. Herro made these...

Walmart Inc. anticipates a lower annual profit decline than forecasted a month ago. The company stated on Tuesday that it exceeded forecasts for quarterly sales because to significant reductions for excess sales and decreased gasoline prices. Walmart stock, which has lost more than 8% of its value this year, increased 4% in the premarket. The retailer has previously alarmed markets across the...

The attributable to shareholders net profit of Henkel AG, one of the top producers of household and industrial chemicals worldwide, decreased by 50% in yearly terms in the first half of the year, to €447 million. Comparatively to January through June of previous year, adjusted net income per preferred share was €1.95, down from €2.4. Operating profit fell from €1.296 billion to €684 million, a...