Sunday, 12 July 2026

Apple sues OpenAI for trade secret theft

Apple filed a federal lawsuit on July 10 against OpenAI, its hardware subsidiary io Products, and two former Apple engineers — Tang Tan (now OpenAI’s chief hardware officer) and Chang Liu. Apple accuses them of a “coordinated pattern of misconduct” to extract confidential hardware files. The case is striking because Apple and OpenAI remain business partners through ChatGPT’s integration with iOS. NBC Washington

Meta appeals landmark addiction verdict

Meta is challenging a Los Angeles jury verdict from March 2026 that found it liable for negligent platform design. The jury concluded that addictive features — infinite scroll, autoplay — were a “substantial factor” in harming a young user. Meta argues teen mental health “cannot be linked to a single app.” The stakes go beyond the $6 million in damages: thousands of similar cases are pending. AP / WRAL

BMW sales drop 20% in China in the first half

The BMW Group sold 261,773 vehicles in China during H1 2026, down 20.4% year-over-year. Q2 was worse, falling 30.2%. BMW is not alone: Mercedes saw a 30% Q2 decline and the Volkswagen Group dropped 36.6%. Chinese competitors keep gaining ground with competitive EVs at lower prices. BMW is countering with localized electric models, including long-wheelbase versions of the iX3 and i3 designed specifically for the Chinese market. BMW Blog

Nike’s stock recovery is real — but the valuation still has to work

Nike shares are rising on a renewed focus on product innovation, full-price selling, and brand discipline. But the fundamentals are less exciting: FY2026 revenue of $46.4 billion was essentially flat, Nike Direct fell 7%, and the Q4 gross margin of 49.2% was inflated by a one-time tariff benefit. The question for investors: are the operational improvements sustainable, or is the stock pricing in a comeback that hasn’t fully materialized? Forbes

New Balance launches the 5030 in “Black/Black Metallic”

New Balance expands its retro lineup with the 5030, a model inspired by 2000s-era track aesthetics. The Black/Black Metallic colorway features the low-profile silhouette and aerodynamic lines of the 5000 series. Available on the brand’s website and select retailers. Hypebeast