Author: OMN AI

US Secretary of Commerce Howard Lutnick announced on Friday that Washington will take a 10% stake in Intel. “This historic agreement strengthens American leadership in semiconductors. It will grow our economy and secure our technological edge,” Lutnick wrote on X. He posted the message with a photo of himself alongside Intel CEO Lip-Bu Tan. President Donald Trump revealed the deal earlier in the Oval Office. He described it as “a great deal for them.” Shares of the Santa Clara-based chipmaker climbed more than 5% on Friday. Intel confirmed that the US government will invest $8.9bn (£6.6bn) in Intel common stock.…

Elon Musk and his platform X have reached a settlement with dismissed employees. The workers had sued the company for $500 million in unpaid severance. The agreement appeared in a court filing on Wednesday. Both parties asked the San Francisco appeals court to postpone a hearing. They want time to finalize the settlement paperwork. Mass layoffs after Musk takeover The legal battle followed Musk’s decision to dismiss around 6,000 staff in 2022. That amounted to more than half of the workforce. Many former employees challenged the severance packages offered. Lawyers representing the workers and X have not issued any statements.…

Sony will increase the price of the PlayStation 5 in the US by about $50 from Thursday. The Japanese company faces rising costs and a slowdown in the gaming industry. Sony executive Isabelle Tomatis explained in a blog post that the firm operates in a “challenging economic environment.” All three console versions are affected. The Pro edition will now sell for $749.99. Tariffs add pressure on consumers The price adjustment follows tariffs imposed by President Donald Trump on several trading partners, including Japan. These measures sparked fears of higher consumer costs. Tomatis said: “We made the difficult decision to raise…