Dec 03, 2023 Last Updated 02:25 AM EST
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Alibaba, Baidu, and 23 Other Chinese Tech Companies Pledged to Help Government Fight Online Terrorism

As a response to China’s new anti-terror law, 25 tech companies in the country have signed a pledge to help the government combat online terror activities. Under the law, tech companies are required to decrypt information for Beijing and provide assistance to keep the internet from terror-related contents.

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US Congress Delayed Work on Puerto Rico Debt Relief Bill, Blaming Obama Administration

The U.S. Congress has delayed work on Puerto Rico debt bill. Originally, the bill was scheduled to be the subject of hearing on Wednesday before receiving final amendments on Thursday. After that, it will be sent for debate on the House.

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Five Large US Banks Do Not Have Sufficient Plan for Crisis Due to Lack of Information

GAO suggested financial regulators to disclose more information on their crisis policy framework. While five large banks do not have enough plan to manage operation during crisis.

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Israel Antitrust Authority Opposed Acquisition of Golan Telecom

Cellcom Israel Ltd on Tuesday announced that regulators opposed its merger plan with Golan. However, Antitrust Authority will invite the companies representative to discuss the deal before making final decision.

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Steel demand across the globe to decline 0.8%

Demand for steel across the globe is expected to decline 0.8% to 1,488 million tonnes in 2016, according to the World Steel Association. The association expects steel demand in China, the largest consumer, to fall 4% in 2016 tailed by a 3% decline in 2017, reaching 626.1 million tonnes in 2017.

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Largest US Coal Miner Peabody Finally Files For Bankruptcy Ending Prolonged Speculations

The largest coal miner in the US has sought protection under bankruptcy law on Wednesday ending speculations over its future. The filing has been acknowledged as the largest bankruptcy case by liabilities during this year. With this filing, a century old publicly traded company is going to shutting down its operations in the US.

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London and European Stock Market Rallied Following Surge of China's Export

London's FTSE 100 rose on Wednesday to reach record high. European shares continued its rally led by mining stocks as China reported increase of export.

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SEC Files Fraud Charges Against Fired ConvergEx Executive Basilly Years After His Dismissal

SEC has filed a lawsuit against former ConvergEx exec Basilly on Tuesday on the allegation of defrauding traders. Prior to that, ConvergEx has admitted wrongdoing through its several units and counted penalty of $150 million to the regulators. However, his lawyer claims innocence rejecting all allegations and cites that Bassily has acted as per ConvergEx approved business model.

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Regulators Said Takata Still Need To Recall 85 Million Airbags

US safety regulator announced Wednesday that Takata still need to recall its defective airbags. NHTSA said unless Takata proved them to be safe, all remaining airbags in US vehicles must be recalled eventually.

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EU Privacy Regulators Request Changes in EU-US Data Transfer Agreement

WP29 on Wednesday was calling for changes in the commercial data transfer agreement between US and EU. The agency said it does not provide enough protection for privacy for European users.

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Energy stocks propels Wall Street profits following oil price rally

Wall Street ended higher on Tuesday trading session as energy stocks rallied helped by increasing crude prices. The US crude prices reached its new height in 2016.

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US March budget deficit increases to $108 billion

The US government faced a steady increase in March budget scarcity, leading to a higher deficit in the first half year period compared to the previous year period.

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Honda's sales rise in Indian markets, but Hero still ranks No 1

Honda, the Japan-based automaker, widened its sales portfolio to a robust 4,500 touch points from nearly 800 outlets. Honda's market share increased to 26% from 15% at the end of March 2011.

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Microsoft Became The First Major U.S. Tech Company to Endorse Privacy Protection Pact With the EU

Microsoft has became the first major U.S. tech company to endorse the Privacy Shield agreement between EU and the U.S. The company agreed to discuss the framework of data protection further with the EU officials soon.

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Uber Received Hundreds of Data Request on Its Riders and Users From US Law Enforcements and Regulators

Uber revealed that it has received too much data request from US law enforcement agencies and regulators. The company has provided information on its riders and drivers for most requests after reviewing its legal framework.
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Latest Stories

Unwanted Goods? Retailers Turn to "Keep-It" Policies to Curb Rising Return Costs

A number of companies are advising customers not to bother returning items for a refund due to the high expense of processing, repackaging, and trying to resell stuff. Rather, they are stating that you may retain it and still receive a refund.

Saudi Fund Urged to Withdraw from Altman-Backed AI Chip Venture in US

On Thursday, the Biden administration has compelled a venture capital firm supported by Saudi Aramco to sell its stake in a Silicon Valley AI chip business that is supported by Sam Altman, the co-founder of OpenAI.

Biden Administration's Push to Reduce China Reliance May Hinder EV Tax Credits

President Joe Biden's aim of having half of all new passenger vehicles sold in the United States run on electricity by 2030 may be hampered by new restrictions that were announced on Friday.

UK Government Intervenes to Investigate Potential Abu Dhabi Takeover of The Telegraph

The culture and media secretary has stepped in to investigate the Daily Telegraph's sale to a business supported by the royal family of Abu Dhabi.

Nvidia's Secret Weapon? Tiny Singapore Packs a Powerful Chip Punch

When the American chip company Nvidia released its impressive third-quarter earnings last week, industry watchers noted that a sizable portion of its income originated from a single little country.

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Soccer Star Cristiano Ronaldo Faces $1 Billion Lawsuit for Promoting Binance NFTs

Cristiano Ronaldo, a Portuguese soccer player, is being sued in a class-action lawsuit for his part in pushing to millions of his followers cryptocurrency-related "non-fungible tokens," or NFTs, released by the struggling cryptocurrency exchange Binance.

Tesla's Cybertruck: High Price Could Dampen Enthusiasm for Electric Pickup

The starting price for Tesla's long-delayed Cybertruck is $60,990, which is more than 50% more than what CEO Elon Musk had advertised in 2019 and a price that experts predict would appeal to a privileged few.

Oil Markets Brace for Impact as OPEC+ Announces Production Cuts

The OPEC oil cartel, led by Saudi Arabia and allied producers like Russia, took another huge go at supporting lagging crude prices on Thursday, extending some supply restrictions into next year and pulling in up-and-coming oil provider Brazil.

JPMorgan Acquires Significant Stake in Spanish Defense Contractor Indra

JPMorgan purchased a 10.6% stake in Spanish defense systems producer Indra (IDR.MC), according to the stock exchange regulator on Thursday.

GM Boosts Shareholder Returns Amidst Labor Challenges

On Wednesday, General Motors unveiled a major stock buyback program, doubled its dividend, and informed investors that it can withstand additional labor costs from a six-week autoworkers strike.

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