Meta Settles Cambridge Analytica Scandal Case, Microsoft Files Rebuttal To FTC's Lawsuit Against Activision Deal, US Winter Storm Snaps Holiday Plans: Today's Top Stories

Reuters

Remember Cambridge Analytica Scandal? Facebook Parent Meta To Pay $725M To Settle Privacy Lawsuit

• The fallout from Facebook's Cambridge Analytica privacy scandal continues four years after it was first exposed in March 2018. Parent company Meta Platforms Inc META has agreed to pay $725 million to settle the class-action lawsuit accusing Facebook gave third parties access to user data without their consent.
• It is the "largest recovery ever achieved in a data privacy class action, and the most Facebook has ever paid to resolve a private class action," Keller Rohrback, the law firm representing the plaintiffs, said in a court filing.

FTX Asks Judge To Halt BlockFi Claim To Sam Bankman-Fried's Robinhood Shares

• Beleaguered cryptocurrency exchange FTX is attempting to stop BlockFi from claiming more than $440 million worth of shares of Robinhood Markets Inc HOOD purchased by Sam Bankman-Fried.
• FTX said Alameda Research owns the Robinhood shares in question and that the bankrupt FTX companies must hold on to the stock while other disputed ownership claims are being probed.

Putin Says He Wants To End This War: 'Our Goal Is Not To Spin The Flywheel Of Military Conflict'

• Russian President Vladimir Putin said he wants to end the war in Ukraine while warning that the U.S. Patriot missile system won't stand in Moscow's way to achieving its "goals."
• Putin after Ukrainian President Volodymyr Zelenskyy visited the White House, spoke of ending the Ukraine war and hinted that this would inevitably involve a diplomatic solution. 
• "Our goal is not to spin the flywheel of military conflict, but, on the contrary, to end this war," Putin said.

Powerful Winter Storm Gushes Out Holiday Plans For Several Americans

• A powerful Arctic winter storm has placed more than 135 million people under weekend weather alerts ahead of the year's busiest travel days.
• Over 4,400 flights have been canceled over Thursday and Friday as a powerful winter storm hits the U.S., disrupting holiday plans for several Americans, according to flight tracking website FlightAware, while passenger railroad Amtrak canceled dozens of trains through Christmas.

Merck COVID Antiviral Does Not Reduce Risk Of Hospitalisation, Death Rates In Vaccinated Individuals

• According to a large study, dubbed PANORAMIC, Merck & Co Inc's MRK COVID-19 antiviral molnupiravir speeds up recovery but does not reduce the hospitalization or death rate in higher-risk vaccinated adults.
• The study was conducted when the Omicron variant was dominant and compared the oral pill against standard treatment alone in people over 50 or those aged 18 and older with underlying conditions. 

Wall Street Journal

Microsoft Files Rebuttal To FTC's Lawsuit Against Activision Deal

• Microsoft Corp MSFT has rebutted a Federal Trade Commission lawsuit to block its acquisition of Activision Blizzard Inc ATVI for $75 billion.
• The software giant has filed a rebuttal saying the acquisition will not hamper competition in the video gaming industry since it is neither a top console company nor a software developer.

YouTube Beats Apple To NFL Sunday Ticket Deal: Here's How Much They're Paying And Why It's Important

• The National Football League is turning to a streaming company for the NFL Sunday Ticket rights. Here's the latest on the rights to premium National Football League content.
• Alphabet Inc GOOG GOOGL-owned YouTube has won the rights to NFL Sunday Ticket, beating out a list of competitors for the highly coveted sports rights.

CNBC

United Airlines Pilot Union Leader Resigns Over Controversial Comments

• United Airlines Holdings Inc's UAL Chicago-based pilot, Neil Swindells, elected to lead the United Airlines pilots' union, has resigned after a series of his recent online posts sparked an outcry.
• Swindells apologized "to anyone I have offended."
• In his resignation note, he said, "while many of these things have been taken completely out of context and publicly weaponized against me."

Bloomberg

Nestle CFO Warns Of Tough First Half In 2023

• Nestle ADR NSRGY Chief Financial Officer Francois-Xavier Roger said the first six months of 2023 will be challenging.
• Nestle's CFO expects inflation to retreat in the second half of the year.
• "We are likely going to go into recession — we know that the next six months are probably going to be complicated and difficult," Roger said in an interview.

Benzinga

Death By Blanket? Target Recalls Children's Weighted Blankets

• Target Corporation TGT has recalled about 204,000 Pillowfort Weighted Blankets.
• It posed a risk where a young child could become entrapped by unzipping and entering the blanket, posing a risk of death by asphyxiation.
• A 4-year-old girl and a 6-year-old girl reportedly became entrapped in the cover of the weighted blanket and died due to asphyxia at Camp Lejeune, North Carolina, in April 2022.

Stellantis Eyes Stake In Hydrogen Mobility Company Symbio

• Stellantis NV STLA has initiated exclusive negotiations with Faurecia to acquire a substantial stake in Symbio, a hydrogen mobility company.
• Symbio, a Faurecia & Michelin MGDDY joint venture, is a Stellantis partner in deploying a hydrogen-powered light commercial vehicle program.
• The move is a part of its Dare Forward 2030 strategic plan, which includes expanding its hydrogen offering to large vans as early as 2024 in Europe and 2025 in the U.S.