1. CrowdStrike Causes Global IT System Outages
2. Meta Fined $220 Million by Nigeria
3. Elliott Discloses Starbucks Stake
4. Nvidia Shareholder Assets Surpass $9 Billion
5. Israel Found Guilty of Illegal Occupation in Jerusalem
6. Adidas Ad Criticized by Jewish Organizations
7. Unilever Sells Ice Cream Division
1. CrowdStrike Causes Global IT System Outages
Today, cybersecurity company CrowdStrike Holdings experienced a bug during a system upgrade, requiring a manual reboot, which led to malfunctions on all computers running Windows worldwide.
CEO George Kurtz apologized, stating that the system would be restored within hours. However, CrowdStrike’s technical team noted that some devices required up to 15 reboots to resolve the issue.
Adding to the troubles, Windows also reported issues with its Azure cloud services today, though the two problems were unrelated.
Today’s software failure disrupted operations across banks, airports, restaurants, and healthcare systems.
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2. Meta Fined $220 Million by Nigeria
Nigeria’s Federal Competition & Consumer Protection Commission has imposed a $220 million fine on Meta Platforms, parent company of WhatsApp, for violating local data privacy laws.
The commission stated that Meta’s April resolution failed to address concerns, and Meta must immediately stop sharing WhatsApp user data with its other companies.
The commission also demands that Meta immediately restore control of data to Nigerian users.
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3. Elliott Discloses Starbucks Stake
Sources revealed that private equity firm Elliott Investment Management holds a significant stake in Starbucks, as the firm attempts to help the company boost its stock price.
After the news broke, Starbucks shares surged by as much as 6.8%, marking the biggest rise since November 2. Year-to-date, the company’s stock has dropped by 23%, affected by falling sales and tough-to-reach targets.
Starbucks plans to reverse the revenue decline by improving breakfast services and launching new products to attract customers during the afternoon.
Starbucks will also introduce various discount promotions to attract budget-conscious customers.
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4. Nvidia Shareholder Assets Surpass $9 Billion
Venture capitalist Mark Stevens, a member of Nvidia’s board of directors and an early investor since 1993, revealed that Nvidia has survived three near-bankruptcies. After the stock surged, his holdings are now worth $4.7 billion.
In addition to Nvidia, Mark is also a minority shareholder in the NBA’s Golden State Warriors, which has won four championships in the past decade, increasing the team’s valuation.
At 64, Mark’s personal assets have surpassed $8.8 billion, placing him at 306th globally.
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5. Israel Found Guilty of Illegal Occupation in Jerusalem
Today, the International Court of Justice (ICJ) ruled that Israel’s occupation of East Jerusalem and the West Bank violates international law, with the Israeli military’s control over these areas infringing on Palestinian citizens’ rights.
The latest investigation by the ICJ found that Israel’s policies in the West Bank are all illegal and must be abolished promptly.
However, the ICJ’s ruling is non-binding, and Israel disregarded a similar ruling in 2004.
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6. Adidas Ad Criticized by Jewish Organizations
Supermodel Bella Hadid, whose family hails from Palestine, has been accused of antisemitism by the Israeli government. At 27, she was hired by Adidas to promote the SL 72 retro sneaker.
The sneaker, released in 1972, was associated with the Munich Olympics massacre, where 11 Israeli athletes were killed by a Palestinian-supported military group.
The Israeli Embassy in Germany and pro-Jewish groups expressed their dissatisfaction with Adidas’s choice of model, as the ad directly evoked the tragic 1972 event.
Adidas has since removed all promotional photos featuring Bella Hadid.
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7. Unilever Sells Ice Cream Division
Sources revealed that Unilever is in talks with several acquiring companies to potentially sell its ice cream division for £15 billion.
The ice cream brands under Unilever include the well-known Ben & Jerry’s and Magnum. Private equity firms Advent, Blackstone, CVC, and Cinven have expressed initial interest in the acquisition. Clayton Dubilier & Rice and KKR are also exploring the possibility.
Unilever’s new CEO, Hein Schumacher, announced an ambitious management plan in March, which includes cutting 7,500 jobs.
The ice cream division generated €7.9 billion in revenue last year, but its profit margin was less than half that of the personal care division.
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This content is sourced from Financial Times, Bloomberg, and The Real Deal, among other financial news outlets.