Private equity firms KKR & Co. and Clayton Dubilier & Rice LLC are close to buying US software developer Cloudera, The Wall Street Journal reported, citing its own sources. According to the publication, Cloudera will become a private company once the deal is completed. The signing of the agreement may be announced this week. Details of the possible deal are not yet known. Cloudera has a...

Daimler and Nokia Corporation have reached an agreement on the use of the Finnish telecommunications company's patented technology, which means the end of numerous lawsuits between the manufacturers. "Under the agreement, Nokia will license its mobile telecommunications technology to Daimler in exchange for monetary compensation. The parties have agreed to settle all pending litigation between...

Switzerland's largest food company Nestle admitted the fact that the largest part of its products cannot be labeled as healthy and several products can never be considered so. The admission is contained in an internal presentation of the company. According to the FT, the paper was prepared and was distributed to the company's top managers at the beginning of the year. Just 37% of...

The European Commission has given the Chinese service TikTok a month to respond to numerous consumer complaints that the service does not protect children from hidden advertising and inappropriate content. According to a statement from Justice and Rule of Law Commissioner Didier Reynders, the EU has started a formal dialogue with national consumer protection organisations to "help TikTok comply...

The European Airbus group said that it expects the commercial aircraft market to gradually recover to pre-pandemic levels between 2023 and 2025. The company sees the narrow-body airliner segment as the driver of the recovery. "The civil aviation market is beginning to gradually recover to the levels seen before the COVID-19 pandemic," said Airbus CEO Guillaume Faury, "so we want to give our...

HSBC, the second-largest bank in Europe and the sixth-largest in the world by assets ($2.9 trillion), announced yesterday that it is leaving "mainstream" retail banking in the US. HSBC USA has total assets of $204bn and serves 2.4m customers in the US, including retail, corporate and affluent. The bank said it will sell 90 of its 148 total retail branches in the US, close 35-40 and leave only...

Chinese technology corporation Xiaomi has presented data on financial results in the first quarter of this year. As follows from these data, the corporation's net profit for the reporting period amounted to 6.07 billion yuan ($949 million), which is higher than experts' expectations. Experts of Bloomberg forecasted net profit in the amount of 5.3 billion yuan. Compared with last year's figures,...

Climate activists have won a landmark court victory over Anglo-Dutch Shell, effectively forcing the company to accelerate its plans to cut carbon emissions and reduce them by 45% as early as 2030. On May 26 a Dutch court ordered Shell, one of the largest oil and gas companies and the largest trader of oil and gas in the world, to accelerate its plans to cut emissions. According to the court...

The German Federal Antitrust Authority has announced the launch of two investigations into Google. The agency is probing the company's possible abuse of its dominant position in several related markets as well as its terms of service for user data. The investigations include Google's German and Irish divisions, as well as its parent corporation Alphabet. The agency said that the first...