Apple has settled for $250 million on Tuesday in a shareholder lawsuit brought after the company delayed artificial-intelligence upgrades to its Siri voice assistant.
The lawsuit, filed by Peter Landsheft in US federal court in California in 2024, arose after the iPhone maker announced and started running advertisements for a bevy of AI upgrades at its annual software developer conference in 2024, saying they would become available with new iPhones that fall.
The iPhones launched without those features, which the plaintiffs claimed harmed shareholders. In 2025, Apple said that the AI overhaul of Siri would not come until this year, and executives have now confirmed that the new Siri features will be unveiled at Apple's annual developer conference next month.
Apple did not admit to any fault in the settlement, which still needs approval from a judge. In a statement, Apple said it released numerous other AI features since the launch of what it calls Apple Intelligence in 2024.
"Apple has reached a settlement to resolve claims related to the availability of two additional features. We resolved this matter to stay focused on doing what we do best, delivering the most innovative products and services to our users," the company said in a statement.
French luxury group LVMH has agreed to sell fashion brand Marc Jacobs to a joint venture between brand manager WHP Global and apparel company G-III Apparel Group, which are raising up to $850 million to fund the deal, the companies said on Thursday.
India on Thursday tightened rules for duty-free gold imports for jewellery exports by capping imports at 100 kg per licence, the government said in an order.
The US Senate on Wednesday voted to confirm Kevin Warsh as the chair of the Federal Reserve, paving the way for the lawyer, financier and former central-bank governor to take the reins of the Fed.
Dubai Taxi Company (DTC) has announced a major expansion deal, signing an agreement to acquire National Taxi, one of the UAE’s established taxi operators, in a transaction valued at AED 1.45 billion.
Dubai Holding has acquired a 22.27 per cent equity stake in Emaar Properties from the Investment Corporation of Dubai (ICD), becoming the company's largest shareholder with a total 29.73 per cent stake.
The UAE's decision to exit the Organisation of the Petroleum Exporting Countries (OPEC and OPEC+) was a "sovereign strategic choice" and not "driven by political considerations", Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, said on Saturday.
Strongly condemning Iran's "unprovoked" attacks on the UAE, the Ministry of Foreign Affairs stressed that all its actions were defensive, aimed at protecting its sovereignty and in line with the country’s legitimate right to safeguard its national security.
The UAE has strongly rejected Iranian allegations and threats targeting its sovereignty and national security, reaffirming its right to respond to any hostile actions in line with international law.