Boeing boss says he will salvage the company’s battered reputation April 29, 2019 Boeing chief executive Dennis Muilenburg promised to win back the public’s trust at the company’s annual meeting tonight, following two fatal 737 Max crashes. Muilenburg faced a grilling from investors over the twin disasters and also saw off a shareholder motion to split his chairman and chief executive roles. The company has been plunged into [...]
Qualcomm says Apple chief Cook’s comments are ‘misleading’ January 9, 2019 Chipmaker Qualcomm has today accused Apple's chief executive Tim Cook of making 'misleading' comments, after the tech boss claimed settlement talks between the two rowing companies ended in September. Qualcomm and Apple have been embroiled in several ongoing lawsuits surrounding hardware patents for the chips in Apple's iPhone and other products, which Qualcomm argues infringe [...]
Former graduate trainee takes UBS to court over handling of London rape allegation March 13, 2019 A former graduate trainee has taken UBS to court over its handling of her alleged rape by a colleague nearly 20 years her senior. The claimant, referred to as Ms A, has filed a lawsuit against the Swiss bank for sexual harassment and victimisation, her legal team said today. Read more: UBS fined €4.5bn in [...]
Johnson & Johnson share price falls as baby powder scandal intensifies February 21, 2019 Johnson & Johnson’s share price fell today after it was revealed the Securities and Exchange Commission (SEC) are investigating the company over allegations over a possible asbestos contamination in its baby powders. The company’s share price fell 1.4 per cent after it revealed that it had received subpoenas from the US Justice Department and SEC regarding its [...]
Shareholders sue Boeing for ‘putting profit ahead of safety’ after 737 Max crashes April 10, 2019 Boeing’s legal troubles grew yesterday as a lawsuit accused the plane manufacturer of defrauding shareholders by allegedly hiding the safety issues in its 737 Max plane that led to two fatal crashes. A proposed class action was filed in a Chicago federal court, and seeks damages for alleged securities fraud after the firm’s market value [...]
SEC sues Volkswagen over ‘massive fraud’ on US investors during emissions scandal March 15, 2019 Volkswagen perpetrated a “massive fraud” on US investors over its diesel emissions scandal, according to a major regulatory body now suing the firm. Read more: Volkswagen boss apologises for 'unfortunate' Nazi gaffe The Securities and Exchange Commission (SEC) filed a civil complaint against the company overnight, claiming that the car manufacturer issued more than $13b [...]
Huawei exec Meng Wanzhou sues Canadian authorities over detention March 3, 2019 Senior Huawei executive Meng Wanzhou is suing Canadian authorities for illegally holding her and interrogating her for three hours before her arrest at Vancouver International Airport in December. The chief financial officer of the Chinese telecoms giant is facing extradition to the US to face accusations of sanctions busting. The lawsuit, filed on Friday according [...]
Spotify reports Apple to EU commission over rules which ‘disadvantage’ app developers March 13, 2019 Spotify fired a broadside at Apple today as it reported its rival to the EU competition authorities over the way that the tech giant's App Store works. Chief executive Daniel Ek blasted what he called an "Apple tax" which forces his company to pay a 30 per cent commission for sales made via Apple's payment system. [...]
Facebook knew about Cambridge Analytica data scandal ‘months before reports’ March 22, 2019 Facebook employees knew about Cambridge Analytica’s “improper data gathering practices” months before they were reported in the media, a court filing has stated. A filing made by the attorney general for Washington DC has cast doubts over when Facebook found out about the incident. Boss Mark Zuckerberg has stated the tech firm only learned about the data scandal [...]
Johnson & Johnson defies baby powder asbestos concerns to beat first quarter forecasts April 16, 2019 Shares rose at Johnson & Johnson this afternoon as the world’s biggest healthcare company beat revenue and profit forecasts for the first quarter. Read more: Johnson & Johnson share price falls as baby powder probe intensifies The New York-listed firm withstood concerns about asbestos in its baby powder which surfaced late last year, which drove poor [...]