Business News

A Dutch appeals court has overturned a 2021 ruling that required Shell to reduce its carbon emissions by 45% by 2030. This decision marks a setback for climate activists aiming to hold companies legally accountable for emissions reductions.

Minority- and women-owned businesses face a significant threat as affirmative action in federal contracting comes under legal scrutiny, potentially impacting contracts valued at $70 billion annually.

Benoit Bosc and Michael Bressler, former executives at Millennium Management LLC and Pimco, have launched a digital-asset consultancy called x2B. Their consultancy will focus on advising clients on token launches and funding.

Saudi Arabia is making substantial moves to diversify its economy and reduce emissions by investing in green hydrogen as part of its Vision 2030 initiative. The Public Investment Fund has committed $10 billion to the Energy Solutions Company, a green hydrogen venture also backed by Saudi Aramco, aiming to capitalize on the country’s renewable energy resources.

Federal Reserve Chairman Jerome Powell stated he would not resign if Donald Trump asked him to step down before his term ends in 2026. Legally, it remains unclear if a president has the authority to fire a Fed chair, as no president has attempted it, and there is no specific statute addressing the matter.

L’Oréal is localizing its supply chain within China to strengthen resilience against global disruptions, as announced at the China International Import Expo (CIIE).

This summit gathers 1,000 prominent global business leaders to discuss innovation and strategic opportunities in the global market. The event, hosted by YPO (Young Presidents’ Organization), highlights Dubai’s expanding role as a global business hub with DAMAC Properties as a major sponsor.

Following his election win, many of the world’s wealthiest individuals saw major increases in their fortunes, largely due to expectations of cryptocurrency-friendly policies and corporate tax cuts.

Markets are showing a surge in optimism amid Trump’s projected victory, with stocks and digital currencies rising as investors anticipate pro-business policies. While this response suggests confidence in near-term growth, there remains uncertainty about the potential impacts on global trade and economic stability.

Defense tech company Anduril is evaluating Arizona, Ohio, and Texas as potential locations for its first large manufacturing plant, "Arsenal-1," a facility expected to span 5 million square feet. With $1.5 billion in recent funding, Anduril plans to invest heavily in this facility, aiming to produce thousands of autonomous military systems and create numerous jobs. The facility aligns with Anduril's broader expansion in autonomous defense technology.

Apple has initiated an internal study, code-named "Atlas," to gather insights on current smart glasses, indicating a potential entry into this emerging tech space. Led by Apple’s Product Systems Quality team, the study gathers employee feedback and plans future focus groups to explore the possibilities of smart eyewear. This move aligns Apple with competitors like Meta in the race for innovative wearable tech.