Companies
Swiss nursing home costs top 10,000 francs monthly on average
Average stay exceeds two years, with monthly expenses ranging from 4,500 to 8,000 francs for residents. Public subsidies cover the remainder, but rising costs outpace pensions.
U.S. Army Secretary Dan Driscoll expected to resign by year-end
Resignation follows months of tension with Defense Secretary Pete Hegseth. Leadership changes add to Pentagon upheaval under Trump’s second term.
Fannie Mae cuts 12 executives amid efficiency push
Government mortgage giant Fannie Mae eliminated roles across finance, regulatory and housing units this week as part of a broader technology-driven restructuring.
Cytek Biosciences prevails in patent dispute with $56 million jury award
Cytek wins three of four claims in Delaware court case against Beckman Coulter, securing $56 million in damages but plans to challenge remaining finding and appeal if necessary.
U.S. issues licenses to expand investment in Venezuela’s telecom sector
Two Treasury Department general licenses permit new contracts, infrastructure upgrades and payment processing for Venezuelan telecom firms. Licenses published Friday allow broader business engagement while maintaining sanctions framework.
FDA clears 11 ZYN ULTRA nicotine pouch products for Philip Morris
Regulator authorizes all 9mg variants and one 11mg variant of ZYN ULTRA, while additional 11mg products remain under review. PMI plans to expand its smoke-free portfolio.
U.S. Education Department moves to strip ABA of law school accreditor status
Federal review finds American Bar Association's legal education council lacks independence; revocation could disrupt law school accreditation and bar exam access. ABA disputes findings ahead of September hearing.
Allianz Commercial appoints Emma Woolley as global specialty president
Woolley will lead specialty lines and UK operations, joining Allianz Global Corporate & Specialty SE board and reporting to CEO Thomas Lillelund. Appointment pending regulatory approval.
ESPN fantasy draft to feature live picks from 35,000 feet on United flight
The 2026 ESPN Fantasy Football Draft will include a live pick from a United Airlines flight, showcasing Starlink Wi-Fi capabilities. Broadcast begins Aug. 25 at 9 p.m. ET.
LiveWire begins U.S. deliveries of S4 Honcho Trail electric motorcycles
First production units shipped to U.S. dealers as part of LiveWire's mini-moto platform rollout. European expansion planned for fall.
Dermata opens preorders for Tome skincare product ahead of launch
Tome Foundational Treatment, priced at $178 with four weekly treatments, begins shipping on Aug. 25. Subscribers receive a 10% discount on the direct-to-consumer product.
Airbus softens return-to-office policy after union protests
Aerospace giant backs away from mandated four-day on-site work after strikes in Spain and France over teleworking terms. CEO cites need for gradual transition amid workforce feedback.
Judge trims Ben & Jerry's lawsuit against Unilever, Magnum as defendant
A U.S. judge dismissed seven claims in a dispute over alleged suppression of activism and withheld payments, leaving two payment-related claims and part of a governance dispute intact. Magnum Ice Cream now leads the case.
Southern Water’s credit outlooks upgraded by Moody’s and S&P
Moody’s shifts outlook to positive, S&P revises to stable, as degearing and shareholder support bolster credit profile ahead of 2029 targets.
China’s offshore trust tax crackdown forces wealthy investors to reassess holdings
New 20% levy on offshore trusts and stricter reporting rules prompt China’s super-rich to unwind structures, liquidate assets or seek alternative offshore arrangements amid broader tax enforcement push.
Trump-backed IndyCar race in D.C. secures Boeing, Starlink, Delta as sponsors
The Freedom 250 Grand Prix, a 250-mile race through downtown Washington, D.C., has attracted major corporate backing including Boeing, SpaceX’s Starlink, and Delta Air Lines, with President Trump set to attend.
Judge dismisses most of Ben & Jerry’s lawsuit against Unilever
Manhattan judge narrows case alleging Unilever sought to silence activism and withheld payments, shifting focus to missed settlement funds.
Aramark expands NCAA partnerships with Florida State, Texas State
Foodservice provider secures multi-venue deals at two universities, enhancing athletic facility operations and nutrition programs ahead of the 2026 NCAA season.
Aminex unit issues dispute notice over Tanzania gas project delays
Ndovu Resources alleges operator ARA Petroleum breached obligations under the 2026 work program for the Ntorya Gas Development, triggering a 90-day dispute resolution window.
Apollo Global discloses data breach amid broader cyberattack wave
Asset manager confirms unauthorized access to cloud platforms last month; investigation ongoing as hackers target financial firms with low-tech tactics.
J&T Express posts 124% profit surge as non-China revenue hits 50%
First-half profit more than doubled to $350.6 million on a 39.5% revenue rise, with half of sales now generated outside China. The express delivery group raised 2026 capex guidance to $800-900 million.
Switzerland, China finalize trade deal to eliminate nearly all tariffs on Swiss exports
Updated pact will lift tariffs on 99.8% of Swiss goods to China, including watches, pharmaceuticals and machinery, with annual savings of 244 million francs.
Lombard Odier posts 25% profit rise, record assets under management
Swiss private bank reports 9% revenue growth to CHF 740 million in H1 2026, with client assets hitting CHF 239 billion. CET1 capital ratio at 31% exceeds regulatory minimum.
Ex-Google engineer’s conviction for AI trade secrets theft partially overturned
A U.S. judge vacated seven economic espionage counts against Linwei Ding, citing insufficient evidence of intent to benefit China, while upholding his conviction on trade secrets theft. Sentencing set for September 1.