Wednesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s headlines with Monica Malpass.
Delaware judge fast-tracks twitter lawsuit
The Twitter trial against Elon Musk will happen in October, despite Musk wanting it postponed to next year.
A Delaware judge ruled the five-day trial should take place as soon as possible.
Twitter is suing Musk for backing out of a deal to buy the company.
Amazon files lawsuit against Facebook group administrators
Amazon filed a lawsuit against Facebook group administrators who allegedly brokered fake reviews.
It sued more than 10,000 Facebook groups, including one, called “Amazon product review,” which had more than 43,000 members.
Fake reviews have become an increasing problem for amazon as its third-party marketplace has grown to amass millions of sellers.
General Electric to spin off three divisions into three new companies
General Electric is offering details on the three new businesses that it will spin off.
Its energy business — GE Renewable Energy, GE Power, GE Digital, and GE Energy Financial Services — will be spun off in early 2024 under the name GE Vernova.
Following the spinoffs, GE will become an aviation-focused company called GE Aerospace, which will own the company’s trademark and provide long-term licenses to the other companies.
Shares of cruise lines jump after end of CDC program
Shares of cruise lines jumped after the CDC ended its COVID-19 restrictions on the cruise industry.
Cruise lines are now free to make their own policies regarding vaccination, testing, and quarantine requirements.
The changes are expected to allow for more travelers on ships and lower costs for the industry.
Netflix sees a return to growth after losing 1 million subscribers
Netflix sees a return to growth after losing a million customers.
Even though Netflix lost subscribers, it was a smaller number than expected due to the return of “Stranger Things.”
The company plans to introduce a lower-priced version of the service with advertising in early 2023.