BUSINESS

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Renault Group announced Sunday that CEO Luca de Meo will leave his position on July 15 to pursue opportunities outside the automotive sector. The company statement indicated that the decision was driven by Mr. de Meo's desire for "new challenges."

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Disney and Universal have filed a lawsuit against AI company Midjourney, accusing its image generator of rampant plagiarism. The studios claim the tool produces countless copies of iconic characters such as Darth Vader, Elsa from Frozen, and the Minions from Despicable Me.

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Microsoft has officially announced its entry into the handheld console arena with the ROG Xbox Ally, which will enable Game Pass subscribers to play their games on the go. Developed in conjunction with Asus, a maker of handhelds since 2023, the new console is expected to launch at the end of 2025, with pricing details yet to be released.

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Nintendo announced Wednesday that its new Switch 2 console has broken sales records, selling 3.5 million units worldwide in its first four days. The Japanese video game giant stated that this is the highest initial sales performance for any Nintendo hardware to date.

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Concerns about the US economy and the effects of tariffs have hit Lululemon hard, with shares falling by more than 20% after the company revised its annual profit projections downward. The athleisure brand's warning echoes those of other major companies grappling with current US trade policies.

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By the middle of next year, Warner Bros. Discovery, the parent company of CNN and HBO Max, will divide into two distinct entities: one focused on studio production and streaming, and the other on traditional cable television networks. The decision reflects the diverging fortunes of these two sectors, as streaming gains traction while cable TV viewership declines.