PRAGUE—The Czech Republic’s power company signed a deal with U.S. energy giant Westinghouse Electric Co. to supply nuclear fuel for the Dukovany nuclear plant, eliminating the country’s dependence on Russia for such fuel. State-controlled power company CEZ said that Pennsylvania-based Westinghouse will start fuel deliveries to Dukovany next year. Russia’s TVEL, which is part of…
WWE’s WrestleMania Extravaganza Draws Sponsors to the Ring
April 3, 2023
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NEW YORK—WWE’s WrestleMania, the Super Bowl for the sports entertainment company, arrived last weekend to a massive audience and vastly larger sponsorship revenue as it seeks to establish itself as a serious contender for major dollars from such partnerships. Craig Stimmel, WWE’s senior vice president and head of global sales and partnerships, told The Associated…
Macy’s Gennette to Retire; Bloomingdale’s Spring Is New CEO
NEW YORK—Macy’s Chairman and CEO Jeff Gennette will retire at the end of the fiscal year and will be succeeded by Bloomingdale’s Chairman and CEO Tony Spring. Macy’s owns Bloomindale’s, as well as the cosmetics chain Bluemercury. Gennette, 61, guided the retailer through the pandemic after taking the top job at Macy’s in March 2017….
Manchester United Report $7.7 Million Net Profit in Latest Results
MANCHESTER, England—Manchester United reported a net profit of 6.3 million pounds ($7.77 million) in its second quarterly fiscal results. The English Premier League club, which is subject to takeover bids, on Thursday released its key financial figures for the three months ending Dec. 31, 2022. United’s total revenue was 167.3 million pounds, down 9.8 percent…
Tesla Sales Rise 36 Percent in First Quarter, Following Price Cuts
DETROIT—Tesla’s first-quarter vehicle sales rose 36 percent after the company cut prices twice in a bid to stimulate demand. The electric car, SUV, and heavy truck maker said it delivered 422,875 vehicles worldwide from January to March, up from just over 310,000 a year ago. But the increase fell short of analyst estimates of 432,000…
Apple Wins Reversal of $502 Million VirnetX Patent Infringement Verdict
Apple Inc. on Friday convinced a U.S. appeals court to throw out a $502 million verdict for patent licensing company VirnetX Inc. in a long-running fight over internet privacy technology. The U.S. Court of Appeals for the Federal Circuit said the verdict could not stand after the U.S. Patent Trial and Appeal Board canceled the…
H&M Reports Surprise Q1 Profit
STOCKHOLM—Fashion retailer H&M reported a surprise operating profit for its first quarter due to a one-off gain and as cost-cutting measures started to bear fruit despite consumers curbing spending. While H&M showed signs of bringing its costs under control, it still struggled to compete with major rival Inditex, owner of Zara and other brands, as…
Elon Musk Seeks to End $258 Billion Dogecoin Lawsuit
NEW YORK—Elon Musk asked a U.S. judge on Friday to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin. In an evening filing in Manhattan federal court, lawyers for Musk and his electric car company Tesla Inc. called the lawsuit by Dogecoin investors a “fanciful…
Verizon Wins FAA Technology Deal Worth up to $2.4 Billion
WASHINGTON—The Federal Aviation Administration has awarded Verizon Communications a contract potentially worth $2.4 billion to upgrade the agency’s technology systems. The FAA said Verizon will build a network that includes secure communications and administrative services. If the FAA exercises all options in the deal, the contract would run for 15 years and reach the full…
California, 3 Other States Join US Bid to Stop Jetblue-Spirit Merger
WASHINGTON—California and three other states on Friday joined the U.S. Justice Department lawsuit aimed at preventing JetBlue Airways from buying rival discount carrier Spirit Airlines for $3.8 billion. In addition to California, Maryland, New Jersey, and North Carolina signed on to the lawsuit filed in early March. “We look forward to litigating this important case…
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