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Jeff Bezos, Elon Musk war sparks SpaceX lawsuit

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Amazon is now embroiled in a legal battle as shareholders file a lawsuit alleging that the company intentionally bypassed Elon Musk’s SpaceX for a lucrative satellite contract due to the ongoing feud between Musk and Amazon founder Jeff Bezos.

On Monday, the Cleveland Bakers and Teamsters Pension Fund (CB&T) initiated legal proceedings in the Delaware Court of Chancery against Amazon, naming Bezos, current CEO Andy Jassy, and other top executives as defendants.

The lawsuit contends that Amazon’s board breached its fiduciary duties by disregarding SpaceX, a known rival in the space industry, while awarding contracts worth $2.7 billion to Bezos’ space venture, Blue Origin, for Amazon’s Project Kuiper satellite internet system. Additionally, contracts were also granted to United Launch Alliance and Arianespace as part of the Project Kuiper deal.

Big spend

In total, Amazon is poised to spend approximately $7.4 billion on launch services provided by these three companies through 2028.

The lawsuit, which seeks unspecified damages and legal fees, asserts that SpaceX boasts the best track record among the companies awarded contracts and that a deal with Musk’s company would have been more cost-effective for Amazon.

According to the lawsuit, Amazon’s board deliberately excluded SpaceX, the most obvious and economical launch provider, due to Bezos’ personal rivalry with Musk.

Amazon’s Project Kuiper is a colossal initiative aimed at establishing a network of over 3,000 satellites to deliver broadband internet to remote areas, putting it in direct competition with Musk’s Starlink, which has already deployed more than 4,500 satellites.

Amazon responded to the lawsuit by dismissing the allegations as without merit, expressing readiness to contest them through legal proceedings.

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Ticker News is now live on XumoTV and Xfinity across the U.S.

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Ticker News is now available on Xumo TV and Xfinity, bringing new era of accessibility

Ticker is thrilled to announce a major milestone for Ticker News: we are now available for streaming across the United States on Comcast’s major platforms, Xumo TV and Xfinity.

The development places Ticker News in the company of industry giants like CNN, Fox News, and MSNBC, marking a significant leap forward in our mission to deliver quality news to a wider audience.

With a combined reach of 50 million active users per month, Xumo TV and Xfinity offer an opportunity for Ticker News to expand viewership.

The achievement is particularly special with Ticker’s fifth anniversary on air on August 19.

“Getting Ticker News on these platforms was no small feat,” says Ticker Founder and CEO Ahron Young.

“It took nearly two years of intense negotiations and overcoming various technical challenges. But the journey underscores the resilience and determination of our team, proving that persistence pays off. We are immensely proud of what we have accomplished together,” Ahron says.

Being available on Xumo TV and Xfinity significantly enhances our already robust distribution network.

These platforms provide Ticker with the ability to reach millions of new viewers, further solidifying our presence in the competitive news landscape.

“Our commitment to expanding our reach and improving accessibility remains stronger than ever,” says TIcker’s Global Marketing Director, Kane Ricca.

Looking Ahead

As Ticker celebrates this exciting moment, the media company remains focused on its mission to provide accurate, timely, and engaging news to our audience.

“We are grateful for the ongoing support of our hosts, staff, investors, and viewers. Every moment counts at Ticker, and together, we are building something truly special,” says Ahron.

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‘Frank and constructive’ meeting between Harris and Netanyahu

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Vice President Kamala Harris met with Israeli Prime Minister Benjamin Netanyahu to discuss the humanitarian crisis in Gaza and a cease-fire agreement.

Vice President Kamala Harris highlighted the nature of the discussion describing it as a “frank and constructive”meeting with Israeli Prime Minister Benjamin Netanyahu at the White House.

Harris expressed her concerns about the humanitarian situation in Gaza.

She stressed the need to finalise a cease-fire deal.
Harris described the past nine months in Gaza as devastating.
She urged that the tragedies in Gaza should not be ignored. #trending

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‘Left wing lunatic’: Trump tears into Kamala Harris in major rally

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Donald Trump is ramping up his attacks on Kamala Harris – his new opponent in the November election. But will it be enough to stop her?