Nissan records losses amid backdrop of Carlos Ghosn scandal February 13, 2020 Nissan has posted a net loss of 26.1 billion yen (£183.3m) in the third quarter of 2019. The company has cut its annual operating profit forecast by 43 per cent after global vehicle sales fell 11 per cent from October to December. This comes as it faces a changing car market and fallout from the [...]
Amazon seeks to depose Trump in $10bn Pentagon contract battle February 10, 2020 Amazon is seeking to depose Donald Trump and US defence secretary Mark Esper in a legal battle over whether the president was trying to ‘“screw Amazon” in handing a Pentagon cloud computing contract to Microsoft. Amazon Web Services said Trump influenced the decision to give the $10bn (£7.74bn) Joint Enterprise Defence Infrastructure Cloud contract, which [...]
Wilkinson Sword owner Edgewell abandons $1.4bn Harry’s merger February 10, 2020 Razor maker Edgewell – the owner of Wilkinson Sword – has abandoned plans for a $1.37bn merger with rival firm Harry’s following opposition from the US Federal Trade Commission (FTC). Earlier this month, the FTC filed a lawsuit to block the deal, saying it could hurt competition in the US. Privately owned Harry’s will pursue [...]
Car shipping cartel to face UK class action March 1, 2020 Five shipping companies who ran a cartel for importing cars to the UK will face a class action lawsuit. MOL, “K” Line, NYK, WWL/EUKOR and CSAV are being sued for overcharging UK consumers and businesses. The European Commission ruled in 2018 they had breached competition rules by coordinating rates and capacity. Brussels imposed a €395m [...]
Facebook sued by Australian data watchdog over Cambridge Analytica scandal March 9, 2020 The Australian Information Commissioner (OAIC) is suing Facebook over alleged privacy breaches related to the Cambridge Analytica scandal. In a case filed with the Federal Court today, the watchdog alleged that the personal data of more than 300,000 Australian Facebook users had been exposed to be sold and used for purposes including political profiling. The [...]
Huawei sues Verizon over patent theft claims February 6, 2020 Huawei has announced it is launching legal action against telecoms giant Verizon, signalling the latest salvo in an ongoing dispute between the US and China. In a lawsuit filed in Texas, the Shenzhen-based tech giant accused Verizon of using its technology in areas such as computer networking, download security and video communications. Huawei is also [...]
DEBATE: Could Sir Philip Rutnam’s resignation turn into a major headache for the government? March 3, 2020 Could Sir Philip Rutnam’s resignation turn into a major headache for the government? Eliot Wilson, head of research at Right Angles and a former House of Commons official, says YES. The resignation of Sir Philip Rutnam is not just a spat between a Whitehall mandarin and his minister. Its impact goes much further than that, [...]
Tesla shares drop despite board backing for Elon Musk after SEC lawsuit September 28, 2018 Tesla shares plunged almost 14 per cent today as boss Elon Musk faced the prospect of a ban from ever running a public company again. The electric car company’s board hailed Musk’s “integrity and his leadership” after the US Securities and Exchange Commission (SEC) filed legal action against him late last night. Read more: US watchdog [...]
Feeling the heat: Walmart sues Tesla after solar panel blazes August 21, 2019 In a clash of two of America’s best-known companies, Walmart has sued Tesla for alleged “widespread negligence” that led to solar panels made by the electric car giant catching fire. The supermarket behemoth has asked a court to force Tesla to remove the panels from more than 240 of its US stores after they were [...]
Police raid offices of Dutch bank ABN Amro in connection with cum-ex scandal February 27, 2020 German authorities today confirmed a raid on the Frankfurt office of Dutch bank ABN Amro in relation to the the cum-ex dividend stripping scandal that has rocked the European financial sector. “We can confirm that we are carrying out measures at ABN Amro in Frankfurt within the cum-ex context,” a spokesperson for the Cologne state [...]