Visa Inc. $V, the world's largest card payment network, has successfully fended off a proposed class action lawsuit filed by U.S. consumers who alleged that the company failed to disclose the vulnerability of its Vanilla-branded prepaid gift cards to theft and fraud. The ruling, delivered by U.S. District Judge Gregory Woods in Manhattan, marks a significant legal win for the payments giant in a growing wave of litigation targeting digital and card-based financial services.
Foxtel Group, a key player in Australia’s media and entertainment sector, has recently undergone a significant internal restructuring following the acquisition of its sports streaming platform Kayo Sports by the global sports streaming giant DAZN. The deal, valued at approximately AUD 3.4 billion, marks a strategic expansion for DAZN and signals changing dynamics in sports media consumption worldwide.
U.S.-based trucking and logistics company Forward Air Corp. $FWRD has emerged as a potential acquisition target, with major private equity firms including Blackstone Inc. $BX and Apollo Global Management Inc. $APO signing confidentiality agreements to evaluate a possible buyout, according to sources familiar with the situation. The growing attention underscores broader consolidation dynamics within the U.S. logistics sector, as investors seek to capitalize on operational inefficiencies, digital transformation, and industry fragmentation.
STMicroelectronics $STMPA.PA, a leading Franco-Italian semiconductor manufacturer, announced on Wednesday that it expects a total of 5,000 employees to leave the company voluntarily over the next three years. This figure includes approximately 2,800 employees already notified earlier this year as part of a workforce reduction initiative.
CrowdStrike $CRWD, a leading cybersecurity company specializing in cloud-native endpoint protection, has forecasted second-quarter revenue below Wall Street expectations. This development reflects a notable reduction in government and enterprise spending on cybersecurity products, signaling shifts in budget priorities amid macroeconomic pressures. The market responded negatively, with CrowdStrike shares falling 5.7% in after-hours trading following the announcement on Tuesday.
The Walt Disney Company $DIS has initiated another wave of layoffs, affecting several hundred employees across its film, television, and corporate finance divisions. This development follows a broader organizational restructuring prompted by changing media consumption patterns and the accelerating shift away from traditional cable television toward digital streaming platforms.
