A Houston federal judge ordered International Business Machines Corp. to pay $1.6 billion to BMC Software Inc. for swapping in its software while servicing their mutual client, Bloomberg reports. The U.S. District Judge Gray Miller, after a seven-day non-jury trial, rejected IBM’s claim that their mutual client AT&T Inc., opted to switch software products on its own. The judge ruled…
This Day in Market History: Wachovia Buys A.G. Edwards
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On May 31, 2007, Wachovia bought A.G. Edwards for $6.8 billion. Where the Market Was The Dow closed at 13,627.64. The S&P 500 traded at around 1,530.62. What Else Was Going on in the World? In…
Mercedes-Benz Lays First Stone of New Battery Cell Campus in Germany
BERLIN—Mercedes-Benz laid the first stone of a new research and development campus at its Untertuerkheim site in Germany on Tuesday which will research, design, and begin small series production of battery cells from 2023, the carmaker said. The campus, in which Mercedes-Benz is investing a three-digit-million euro sum, will also have a battery safety lab…
US FAA Delays SpaceX Final Environmental Decision to June 13
WASHINGTON—The Federal Aviation Administration (FAA) on Tuesday again delayed completing a final environmental assessment of the proposed SpaceX Starship spacecraft and Super Heavy rocket program in Boca Chica, Texas until June 13. In late April, the FAA extended the target date to May 31 for a decision, saying it was “working toward issuing the final…
Billionaire Investor Peltz, With 1.5 percent Stake, Joins Unilever Board
Billionaire activist Nelson Peltz will join the board of Unilever, the consumer goods giant said on Tuesday, heaping pressure on the maker of Dove soap and Hellman’s mayonnaise as it reviews its strategy. Shares in the London-listed group jumped 7 percent as it said Peltz, who has amassed a 1.5 percent stake in Unilever, will…
Biden Confirms US Sending Advanced Rocket Systems, Munitions to Ukraine
June 1, 2022
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The United States is providing Ukraine with “more advanced rocket systems and munitions” as Russia’s invasion continues, President Joe Biden said on Tuesday. Writing in a New York Times opinion piece, Biden said that America’s goal in Ukraine is “to see a democratic, independent, sovereign and prosperous Ukraine with the means to deter and defend itself against further…
Japan May Consumer Confidence Improves for 2nd Month
TOKYO—Japan’s consumer confidence index rose in May for a second straight month, the government said on Tuesday, as households enjoyed the first restriction-free spring holiday season since before the COVID-19 pandemic. A Cabinet Office survey showed the sentiment index for general households, which includes views on incomes and jobs, was at 34.1 in May, up…
Canceled Flights Mar First Weekend of Summer for Travelers
The unofficial start of summer over the Memorial Day weekend offers a troubling glimpse of what lies ahead for travelers during the peak vacation season. U.S. airlines canceled more than 2,800 flights from Thursday through Monday, or about 2 percent of their schedules, according to tracking service FlightAware. Delta Air Lines, usually among the top…
Pessimistic Consumer Sentiment Unaffected by Australian Federal Election Results
Australian consumer confidence has almost remained unchanged in the wake of a new Labor government as the country is wrestling with interest rate hikes, ballooning inflation and rising living cost pressures. The latest weekly ANZ-Roy Morgan consumer confidence survey showed how Australian consumers reacted to the federal election results, where Labor has gained 77 seats…
LIVE UPDATES: Russian Forces Advance in Factory City, US to Send Precision Rockets to Ukraine
The latest on the Russia–Ukraine crisis, June 1. Click here for updates from May 31. Russian Forces Advance in Factory City, US to Send Precision Rockets to Ukraine Russian troops on Wednesday pressed their assault on a factory city targeted in their push to grab a swathe of eastern Ukraine, while the United States said…
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