On Monday, Pakistan’s central bank, the State Bank of Pakistan (SBP), maintained its key policy interest rate at 11%, aligning with market expectations. This decision comes amid heightened inflationary pressures fueled by the ongoing Israel-Iran conflict and fluctuating global oil prices. The SBP’s pause reflects cautious monetary management as the economy navigates complex external risks.
McDonald’s Corp. $MCD, one of the world’s largest fast-food chains, has reached a confidential settlement in a $10 billion lawsuit filed by media mogul Byron Allen, resolving claims that the company systematically excluded Black-owned media outlets from its advertising expenditures. The agreement was finalized on Friday, narrowly averting a high-profile trial scheduled for July 15 in federal court in Los Angeles.
The genetic testing company 23andMe $ME, which filed for bankruptcy earlier this year, has informed the U.S. bankruptcy court of its intention to reopen the auction process for the sale of its assets, including its extensive repository of customer genetic data. This move follows a new bid of $305 million from 23andMe’s co-founder, Anne Wojcicki, surpassing the previous leading offer of $256 million from pharmaceutical giant Regeneron Pharmaceuticals $REGN. The initial auction was expected to conclude in May, but this fresh proposal could reshape the company’s financial and operational future.
On Tuesday, the widely popular online gaming platform Roblox $RBLX experienced a significant outage affecting tens of thousands of users across the United States. According to real-time outage tracking site Downdetector.com, the platform faced widespread service interruptions, impacting the gaming experience and accessibility for a large segment of its user base.
Alphabet Inc. $GOOGL, the parent company of Google, has reached a preliminary settlement in a shareholder lawsuit accusing the tech giant of failing to adequately oversee antitrust risks. According to legal filings submitted late Friday, Alphabet has agreed to spend $500 million over ten years to restructure and reinforce its compliance and governance mechanisms.
