CNN sues President Trump for banning correspondent from the White House November 13, 2018 CNN filed a lawsuit against the Trump administration today after the White House banned reporter Jim Acosta following a fiery exchange with the US President. The broadcaster is demanding that the White House return Acosta’s credentials, claiming the administration has harmed both its own and Acosta’s constitutional rights. “While the suit is specific to CNN [...]
US judge seizes laptop of app boss who leaked Facebook info to British MPs December 2, 2018 The software company co-founder who released a trove of sensitive documents about Facebook to a parliamentary committee has been ordered by a US judge to turn in his electronic devices for inspection. San Mateo County judge V. Raymond Swope ordered Ted Kramer, the founder of Six4three – a now-defunct bikini-related app company – to pass [...]
Could the UK be on the brink of a US-style class action explosion? December 16, 2018 The Royal Bank of Scotland, Lloyds Banking Group, Tesco, Google and Mastercard. These are just a handful of the household names that have been targeted in group action lawsuits in the UK with billions of pounds at stake. The UK, unlike the US or Australia, does not have a long history of class action-style lawsuits, [...]
China throws weight behind Huawei as telecoms giant sues US government March 8, 2019 Mobile giant Huawei has gained the backing of the Chinese government in its bid to sue the US, in a move which threatens to deepen the countries' ongoing diplomatic rift. China’s top diplomat, state councillor Wang Yi, said on Friday that China supports Huawei Technologies’ bid for legal redress in the United States, adding that [...]
Murdoch’s media empire stung by losses at The Sun and The Sun on Sunday January 9, 2019 Rupert Murdoch's media empire took a hit today as the publisher of The Sun and The Sun on Sunday saw losses widen last year amid a continued squeeze in the print market. News Group Newspapers reported a pre-tax loss of £91.2m in the year to 1 July 2018, an increase from £24m the year before. The [...]
South Korea launches raid on Samsung subsidiary amid fraud probe December 13, 2018 South Korean prosecutors investigating alleged accounting fraud yesterday raided the offices of Samsung’s biopharma unit and its two auditors, KPMG and Deloitte. The Financial Services Commission, which last month suspended trading in Samsung Biologics shares, claims the company intentionally breached accounting rules before listing in 2016. Biologics, which denies wrongdoing, said today that investigators had [...]
Snap shares soar as it reports minimal quarterly losses and beats revenue estimates February 5, 2019 Shares in Snap jumped more than 20 per cent in after-hours trading tonight, as it trounced consensus estimates on revenue and quarterly losses. Revenue in the three months to 31 December increased 36 per cent to $389.8m (£300.9m), beating the average analyst estimate of $379.4m as collated by S&P Global Market Intelligence. The company's net loss fell [...]
State will not give back control of G4S ‘war zone’ prison until summer February 12, 2019 A G4S prison that was in a state of crisis so acute the government had to step in and take back control last summer will not be given back to the firm for another six months, after concerns it remains too “fragile” to do so. HMP Birmingham was seized from the contractor in August when [...]
Tesla raises fears over China tariffs despite beating Model 3 delivery targets October 2, 2018 Production of Tesla cars reached a record high in the last quarter, but the firm remained hesitant of future success in China as a result of 40 per cent tariffs imposed on automotive imports from the US. The electric vehiclemaker said it produced over 80,000 cars in the third quarter, while deliveries to customers reached [...]
Snap shares rise almost 30 per cent as strong results convince investors February 6, 2019 Shares in Snap have risen almost 30 per cent today, after a bumper set of results acted as a boon to investors looking for signs the tech firm could be revived. The parent of photo-sharing app Snapchat trounced consensus estimates in its fourth quarter, reporting a revenue rise of 36 per cent to $389.8m (£300.9m), [...]