Colt will halt its manufacture of AR-15 rifles for civilians due to sufficient supply of this weaponry in the market. The company emphasized that the halt in their supply was solely a result of the working of market forces and nothing more. The halt in production comes in the wake of recent mass shootings which
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Tim Cook (Apple CEO) did not waste any time at the firm’s this year’s iPhone event. One of the first declarations he made was that highly expected video-streaming service by Apple, Apple TV+, will roll out on November 1, 2019, for a monthly $4.99 fee. Since revealing it in March, Apple has shared a number
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Peloton has been sued for music publishers for copyright infringement. The lawsuit was filed in March for $150 million. The publishers have now doubled their demand and are asking for $300 million, claiming that they discovered 1200 more songs that were used by the bike maker without permission. Publishers allege that Peloton has used 2200
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Attorney General of New York filed in court papers that the owners of Purdue Pharma have concealed millions of dollars in their family’s Swiss bank accounts. This money was transferred from the company to the family. Purdue Pharma is the manufacturer of popular painkiller Oxycontin. New York state authorities asked a judge to issue and
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The LSE has rejected a $37B takeover bid submitted by Hong Kong, stating that it was way too low, lacking in strategic merit, and was a politically risky move. In a statement released on Friday, the board of the LSE stated that it was rejecting this week’s proposal submitted by HKEX, which would have handed
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E-cigarette company Juul has come under scrutiny by the FDA for its safety claims that remain unproven. Some of its marketing practices have also been criticized. The Food and Drug Administration questions Juul on its marketing strategy. Reports that the company has been making presentations to school children have come under the scanner. Dr. Ned
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GameStop, the gaming retailer has announced the closure of stores in the next six months. The gaming retailer will be closing around 180 to 200 stores soon. The chain has around 5,700 stores located in many countries. Around 195 stores have faced closures over the past months and many more are expected to come in
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