Business

Apple agrees to pay up to $500 million to settle claims of deliberately slowing down older iPhone models. The settlement covers iPhone 6, 6 Plus, 6s, 6s Plus, 7, 7 Plus, and SE models running iOS 10.2.1 or later, with consumers receiving approximately $25 per device.

Two major South Korean electronics manufacturers, Samsung and LG Innotek, have temporarily closed their plants in Gumi after workers tested positive for coronavirus. Samsung's Gumi factory, which produces Galaxy Z Flip and Galaxy S20 phones, will be closed until Sunday, with disinfection measures in place.

Major car manufacturers like BMW, Mercedes-Benz, and Tesla are shifting towards online sales platforms to mitigate revenue losses caused by coronavirus. With physical showrooms closed and consumer movement restricted, automotive companies are leveraging digital strategies to maintain business continuity and meet customer needs through web-based purchasing options.

Facebook has filed a federal lawsuit against oneAudience, a marketing company accused of illegally accessing user data through malicious SDK integration. The firm allegedly paid app developers to collect personal information without authorization, exploiting login features from Facebook, Google, and Twitter platforms.

Tech giant Apple is set to open its first official store in India next year, marking a significant milestone after a decade of selling through local partners. CEO Tim Cook announced the company received special approval to operate directly in the country, highlighting India's promising market potential and demographic advantages.

Walt Disney Company's shares fell 2.1% in premarket trading following Bob Iger's unexpected CEO transition to Bob Chapek. Analysts express concerns about Chapek's limited content experience, noting his background primarily in parks, distribution, and consumer products.

Singapore's largest developer CapitaLand and state investor Temasek Holdings implement salary freezes and pay cuts as businesses adapt to coronavirus economic pressures. Senior management takes partial bonus reductions to show solidarity during challenging times.

The Philippine stock market experienced its deepest fall since 2016 due to coronavirus concerns, with the stock index plummeting 4.3% and local businesses like Jollibee feeling the economic impact of China's factory shutdowns and pandemic-related disruptions.

Moderna Inc. has quickly developed an experimental coronavirus vaccine, mRNA-1273, and submitted it to NIAID for Phase 1 clinical trials. Director Anthony Fauci anticipates testing on healthy adults could begin in April, with two doses examined on up to 25 participants to assess immune response.

Walt Disney Co. announced CEO Bob Iger's departure after 15 years, with longtime executive Bob Chapek elected as his successor. Iger will remain executive chairman until December 2021, having transformed Disney through major acquisitions like Star Wars, Marvel, and 21st Century Fox, and launching a new streaming service.