Mexican Economy Minister Tatiana Clouthier told U.S. Secretary of State Antony Blinken in a virtual meeting on Friday that Mexico wants to be a supplier of chips and other critical goods for North America. Clouthier said in her remarks before the meeting that Mexico wants to be a part of efforts to restore the supply…
Mexico Wants to Participate in Restoring Supply Chain for Chips, Critical Goods in North America
February 27, 2021
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Judge Approves $650 Million Facebook Privacy Lawsuit Settlement
February 27, 2021
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SAN FRANCISCO—A federal judge on Friday approved a $650 million settlement of a privacy lawsuit against Facebook for allegedly using photo face-tagging and other biometric data without the permission of its users. U.S. District Judge James Donato approved the deal in a class-action lawsuit that was filed in Illinois in 2015. Nearly 1.6 million Facebook…
NYSE Begins Move To Delist Chinese State Oil Producer CNOOC
The New York Stock Exchange on Friday decided to begin formal delisting of Chinese state oil giant CNOOC Ltd based on an update to an executive order signed by former U.S. President Donald Trump in November last year. Prohibitions on CNOOC will take effect on March 9, 60 days after the company was added to…
Stock Gains Power Higher Berkshire Profit, Buffett Presses On With Stock Buybacks
Warren Buffett’s Berkshire Hathaway Inc on Saturday said stock market gains fueled a record quarterly profit, while the billionaire signaled investors are undervaluing his company by repurchasing another $9 billion of its stock. Berkshire’s fourth-quarter buybacks boosted the company’s overall stock repurchases to $24.7 billion in 2020, five times the record from a year earlier,…
UK Public Finances Under ‘Enormous Strains’: Chancellor Sunak
Britain’s public finances are under “enormous strains” as a result of huge government borrowing during the CCP virus pandemic, the UK’s Chancellor of the Exchequer Rishi Sunak has said. In an interview with the Financial Times on Friday, Sunak said he will “level with people” about the challenge when he delivers the budget on Wednesday….
United Airlines To Pay $49.5 Million To Settle US International Mail Contract Probe
WASHINGTON—United Airlines agreed to pay $49.5 million to resolve criminal charges and civil claims relating to fraud on Postal Service contracts for transportation of international mail, the U.S. Justice Department said Friday. “United defrauded the U.S. Postal Service by providing falsified parcel delivery information over a period of years and accepting millions of dollars of…
Hawley Proposes $15 Minimum Wage for Billion-Dollar Corporations
Sen. Josh Hawley (R-Mo.) on Friday announced legislation that would force big companies to pay their workers a $15 minimum wage. Hawley’s plan targets corporations with revenues of of $1 billion or more and comes amid a bitter fight on Capitol Hill over including a federal minimum wage boost in the Democrats’ $1.9 trillion pandemic…
Volkswagen Weathers Pandemic With $10.7 Billion Profit
FRANKFURT, Germany—Volkswagen said Friday it made a better than expected profit of €8.8 billion ($10.7 billion) after tax in 2020 despite the pandemic. The world’s No. 2 automaker said the rapid recovery of China, its largest single market, and resilient sales of luxury vehicles helped the bottom line. The company gave an upbeat outlook for…
BA Parent Company Books Huge Loss, Pushes for Digital Passes
LONDON—The parent company of British Airways and Iberia on Friday said it lost €6.9 billion ($8.3 billion) last year as the pandemic caused a near-total collapse in international air traffic, and called for digital passes to help revive travel. IAG’s after-tax loss compared with a profit of €1.7 billion the year before. Its revenue slumped…
Texas Power Retailer Hit With $1Billion Class Action Suit Claiming ‘Price Gouging’ After Soaring Bills
A Texas resident has filed a class action lawsuit seeking over $1 billion against power retailer Griddy Energy LLC, alleging the wholesale company of engaging in “price gouging” and unlawfully charging thousands of dollars. Lisa Khoury of Chambers County claims she was charged with an excessive electricity bill during a deadly winter storm that knocked many power…
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