Meta Platforms Inc. $META is facing mounting legal pressure in the European Union as Austrian privacy advocacy group NOYB (None of Your Business) takes aim at the company's use of personal data for artificial intelligence (AI) model training. The organization, led by privacy activist Max Schrems, announced Wednesday its intent to pursue an injunction against Meta’s planned processing of user information from Facebook and Instagram for AI purposes.
British luxury fashion house Burberry $BRBY.L has announced a sweeping restructuring plan that includes the elimination of 1,700 positions globally. The decision is part of a broader initiative to realign its operational cost base and revitalize the brand amid an evolving high-end retail market. Despite the downsizing move, Burberry reported adjusted operating profit of £26 million ($34.55 million) for the fiscal year ending March 29—more than double the consensus estimate of £11 million.
In a pivotal ruling with far-reaching implications for corporate governance and financial sector oversight, Switzerland’s Federal Administrative Court has declared the government’s decision to reduce and rescind bonus payments to former executives of Credit Suisse as unlawful. The judgment, released late Tuesday, follows legal action initiated by affected individuals—part of the nearly 1,000 executives impacted after the bank's high-profile collapse in March 2023.
