Apple Inc (NASDAQ:AAPL, ETR:APC) has reached a deal to settle a lawsuit that accused the tech giant of knowingly allowing scams that use its gift cards to steal funds from victims.
The scams typically involve people asking victims to buy Apple Store or other gift cards and then share the codes that come on the back of the cards, thus giving them access to the money.
However, Apple would benefit from the scams too — the scammers would typically only receive 70% of the stolen funds, while Apple kept a 30% commission.
Shares of shipping company Maersk surged in Denmark for the second consecutive day Wednesday following its decision to extend its hiatus on Red Sea shipments due to safety concerns.
Over the weekend, Maersk announced a 48-hour pause in Red Sea transit in the wake of an attack by Houthi militants on one of its ships. Now, the stoppage has been extended indefinitely, the company said.
Meanwhile, Goldman Sachs (NYSE:GS) upgraded the company’s stock to Neutral from Sell, pointing to higher freight rates caused by the shipping disruptions.
Meanwhile, after a difficult 2023, biopharma investors won’t necessarily have it any easier in 2024, analysts at UBS argued in a note to clients on Tuesday.
“BioPharma investors will be happy to shut the door on a tough 2023,” the analysts wrote, noting that the sector declined more than 5% during the year.