Companies sue US government for $130 billion in tariff refunds
Over 1,800 companies, including major corporations like FedEx and L'Oreal, have filed lawsuits against the U.S. government seeking approximately $130 billion in tariff refunds following a Supreme Court ruling that deemed the tariffs imposed by President Trump unconstitutional. The lawsuits, which are primarily filed in the U.S. Court of International Trade, come after the government collected over $133 billion from these tariffs, with the Treasury secretary indicating that the refund process may take time to establish.
Salesforce projects $46 billion revenue for 2027
Salesforce Inc. projected revenue of approximately $46 billion for the fiscal year ending in January 2027, a forecast that met analysts' expectations but failed to reassure investors, leading to a more than 5% drop in its stock price after hours on February 25. Despite reporting a 12% year-on-year increase in Q4 2025 revenue to $11.20 billion, the company faces concerns about its competitive position in the AI landscape, particularly as its AI-powered software, Agentforce, saw annual revenue surge by 169% to $800 million. CEO Marc Benioff announced a $50 billion share repurchase program to bolster investor confidence, while also raising the long-term revenue forecast for 2030 to $63 billion.
IBM report reveals surge in cyberattacks and ransomware
IBM's 2026 X-Force Threat Intelligence Index reported a 44% increase in cyberattacks targeting weak security systems, with cybercriminals increasingly leveraging AI tools to exploit vulnerabilities in public-facing applications. The report noted a 49% rise in active ransomware groups and a nearly fourfold increase in large supply chain compromises since 2020, underscoring the growing sophistication of cyber threats and the urgent need for organizations to enhance their security measures.
Engie to Acquire UK Power Networks for £10.5 Billion
Engie SA, a French utility company, will acquire UK Power Networks from Hong Kong's CK Group for £10.5 billion (approximately $14.2 billion). This transaction is part of CK Group's strategy to divest assets and mitigate geopolitical risks, as the company reshapes its business portfolio.
Lynas Rare Earths Revenue Soars 62% Amid Rising Demand
Lynas Rare Earths reported a 62% increase in revenue, reaching $413.7 million Australian dollars ($295 million) for the six months ending in December, driven by higher production and stronger prices for rare earth products. The company's net profit after tax surged to $80.2 million, up from $5.9 million in the same period last year, as demand for critical minerals rises amid geopolitical shifts in the rare earths market. CEO Amanda Lacaze noted that Lynas is uniquely positioned as the only major commercial producer of separated light and heavy rare earths outside China, benefiting from government efforts to secure alternative supply sources.
