The US Railway Companies and Unions reached a tentative agreement and Tesla would close its stores in China's glitzy malls. Netflix might be sued for a South Korean crime drama, among other things.
US Railway Companies and Unions Agree in Principle to Prevent Catastrophic Strike
After 20 hours of discussions, the train firms and union negotiators reached a provisional agreement this morning that balances the demands of employees, enterprises, and the economy. Following the news, railroad stock prices rose.
The tentative agreement prevents a freight railroad strike that may have damaged the American supply chains and raised costs for many commodities.
Global supply chains that are working to recover from interruptions caused by the pandemic and the Ukraine-Russia war could be hampered by the prospective strike by U.S. rail workers.
Reuters
Tesla wants to wind down its stores in glitzy malls after reevaluating its China sales strategy.
Rethinking its strategy for selling electric vehicles in China, Tesla Inc. (NASDAQ: TSLA) is considering closing some of its stores in posh malls in cities like Beijing that experienced a decline in traffic because to economic restrictions.
The second-largest market for Tesla is China.
The adjustment would put more of an emphasis on shops in less priced suburban areas that also offer repairs. The action follows Tesla's efforts to improve service for current customers, many of whom have complained about lengthy delays, in order to fulfil Elon Musk's goal.
The Swiss Competition Commission is looking into Novartis' use of patents to stifle competition.
The Swiss Competition Commission (COMCO) is looking into allegations that Novartis AG (NYSE: NVS) used a patent improperly to lessen competition.
According to COMCO, the business "apparently tried to use one of its patents to launch legal actions in order to defend its medicine for the treatment of skin problems against rival products."
What You Should Know About Netflix's Potential Legal Trouble With South Korean Crime Drama in Suriname
Suriname is debating taking legal action against the creators of the popular Netflix Inc (NASDAQ: NFLX) series "Narco-Saints" from South Korea because it feels that by depicting the country as a "narco-state," it promotes unfavourable perceptions of it.
The show tells the tale of a man who joins a covert mission to apprehend a Korean drug lord operating in Suriname. It is based on actual events that occurred roughly twenty years ago.
As it battled strikes and a shortage of workers, Lufthansa is considering selling some of its aircraft business.
In December, Deutsche Lufthansa AG (OTC: DLAKY) plans to discuss a partial sale of its aeroplane maintenance company Lufthansa Technik with private equity investors.
The board sought a valuation between $6 billion and $8 billion.
The aviation industry has been completely disrupted since the Covid-19 outbreak. In order to combat the travel chaos this summer brought on by a perfect storm of strikes and a labour crisis, airlines had to strengthen their war preparations.
Washington Post
Amazon is being criticised by regulators for its anticompetitive tactics against wholesalers and third-party sellers.
Amazon.com, Inc. (NASDAQ: AMZN) was investigated by the California state attorney general for allegedly using contracts with wholesalers and third-party sellers to raise prices, stifle competition, and violate antitrust regulations.
The lawsuit was brought about by a 2020 inquiry. Rob Bonta, the attorney general, fought against Amazon restrictions that barred retailers from advertising reduced prices on the websites of rival businesses.
The wholesalers were vulnerable to fines in the event that Amazon decreased its prices to compete with them and its profit margin dropped below a predetermined minimum.
Benzinga
As EV adoption shifts to Top Gear, an analyst weighs in on Tesla, Fisker, Rivian, and Lucid.
Given automakers' focus on EV switching, governmental laws to outlaw ICE vehicles, and significant capital infusion into the space industry, an analyst at Needham wrote in a note that the adoption of electric vehicles is moving much more quickly than projected.
Vikram Bagri of Needham upgraded Tesla Inc. (NASDAQ: TSLA) shares from Underperform to Hold as part of the analyst Rajvindra Gill's move to primary coverage.
Politicians Are Rated According to How Pro-Crypto They Are in Coinbase's New Feature
Bitcoin exchange In a brand-new function on its mobile app, Coinbase Global Inc (NASDAQ: COIN) rates political candidates based on their attitude toward cryptocurrency.
Brian Armstrong, the CEO of Coinbase, stated in a series of tweets on Wednesday that the cryptocurrency exchange's new integration will allow its 103 million customers to assess the sentiment toward cryptocurrencies among U.S. political figures.
Wael Sawan succeeds longtime CEO Ben van Beurden at Shell
Wael Sawan, the organization's head of integrated gas and renewables, has been chosen Shell Plc's (NYSE: SHEL) new CEO, succeeding outgoing CEO Ben van Beurden.
When Mr. van Beurden was elevated to CEO in 2014, he had already worked for Shell for 30 years.
Projects at the Product Innovation Unit at Google Parent are reduced by 50% amid a shift to artificial intelligence
Area 120 personnel have been informed by Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) that the number of incubator projects is being reduced from 14 to seven.
Since then, according to a statement Google provided to the media outlet, the development has been confirmed.
By the end of January 2023, employees at the cancelled projects must find new positions with the business or risk being let go.
Ford and GM now have a chance to overcome Tesla's "competitive moat" in this market thanks to Biden, according to analyst
An important issue facing the EV business will be addressed by the Biden administration's incentives for electric vehicle charging infrastructure, claims a Wedbush analyst.
As part of the $7.5 billion in money allotted through the "Inflation Reduction Act" signed in August, the U.S. government announced $900 million in grants for EV chargers across 35 states, according to analyst Daniel Ives' report.
The Apple website briefly resembled "Craigslist" due to a strange glitch.
At 12:39 a.m. EDT on Thursday, Apple Inc.'s (NASDAQ: AAPL) website and Store appeared to be experiencing issues with technology.
The front page of the website was indicated as loading, but it lacked any images, and the nature of the underlying technical problem was not made clear.
real-time monitoring service for issues and outages According to statistics from Downdetctor, outages peaked on Wednesday at around 11 p.m. EDT on the website that houses the Apple Store.
What Are The New Features In The New Ford Mustang ICE, The Seventh Generation?
To please fans of sports cars, Ford Motor Co. (NYSE: F) has announced the next-generation Mustang.
A 2.3-liter EcoBoost and the Mustang GT's most potent 5.0-liter Coyote V8 ever are the new engines in the new Mustang.
When many of our competitors are getting out of the internal combustion vehicle market, investing in a new generation of Mustang is a major message, according to CEO Jim Farley.
Another cryptocurrency experiences an unexpected 66% rally as Ethereum merges: According to Vitalik Buterin, "Celsius" Was Converted To "Fahrenheit"
Following the Ethereum (ETH/USD) Merge, the native token of the Celsius Network (CEL/USD) unexpectedly rose by 66%, confounding many market participants.
On September 15, within 60 minutes of the Ethereum Merge, CEL rose from about $1.9 to a high of $3.
Some traders claimed that CEL reached higher prices on specific cryptocurrency exchanges. According to one account, the token hit $6.08 on OKX and another, it crossed the $8 threshold on Huobi.
Be Your Own Model: Walmart Introduces A New Online Try-On Service For Customers
To replicate the experience of a fitting room in a store, Walmart Inc (NASDAQ: WMT) has launched a virtual try-on tool for online consumers.
Customers can utilise their images to better visualise how the apparel will look on them thanks to this experience.
With Be Your Own Model, a consumer may instantly view an incredibly accurate recreation of their appearance, complete with shadows, fabric draping, and clothing placement.