The U.S. accounting watchdog on Thursday said it has full access to inspect and investigate firms in China for the first time ever, removing the risk that around 200 Chinese companies could be kicked off U.S. stock exchanges. The statement from the Public Company Accounting Oversight Board (PCAOB) marks a victory for U.S. regulators and […]
Reuters
Equity listings on the Nasdaq fell about 80 percent this year, as the appetite for new issues took a hit from extreme volatility in the stock market, sparked by the Federal Reserve’s war on inflation. A total of 156 companies listed their shares on the bourse this year, raising nearly $15 billion in initial public […]
U.S. stock indexes closed sharply lower on Thursday, with each of the major averages suffering their biggest daily percentage drop in weeks, as fears intensified that the Federal Reserve’s battle against inflation using aggressive interest rate hikes could lead to a recession. The U.S. central bank hiked rates by 50 basis points (bps) on Wednesday […]
U.S. senators on Wednesday pressed Congress to regulate cryptocurrency under existing financial rules, as lawmakers scramble to rein in the troubled industry after prosecutors filed criminal charges against FTX founder Samuel Bankman-Fried. Lawmakers are generally in agreement that crypto firms should have greater regulation, but there are divergent views on how the industry should be […]
An Australian regulator, after using new powers to make the tech giants share information about their methods, accused Apple Inc and Microsoft Corp not doing enough to stop child exploitation content on their platforms. The e-Safety Commissioner, an office set up to protect internet users, said that after sending legal demands for information to some […]
A former Twitter Inc manager convicted of spying for Saudi Arabia by sharing user data several years ago and potentially exposing users to persecution was sentenced to 3-1/2 years in prison on Wednesday, U.S. prosecutors said. Ahmad Abouammo had been found guilty by a jury in August following a trial in federal court in San […]
A NASA-led international satellite mission was set for blastoff from Southern California early on Thursday on a major Earth science project to conduct a comprehensive survey of the world’s oceans, lakes and rivers for the first time. Dubbed SWOT, short for Surface Water and Ocean Topography, the advanced radar satellite is designed to give scientists […]
Chinese tech giant Alibaba Group Holding Ltd cannot buy some of the most advanced chip designs after the SoftBank-owned British chip tech firm Arm Ltd determined that U.S. and Britain would not approve licences to export technology to China, the Financial Times reported on Wednesday. This is the first known time that Arm has decided […]
The Biden administration plans to remove some Chinese entities from a red flag trade list, a U.S. official told Reuters on Wednesday amid closer cooperation with Beijing. The plan to remove them soon from the so-called “unverified” list is thanks to greater willingness from the Chinese government to permit U.S. site visits, the person said. […]
California-based artificial intelligence exploration firm KoBold Metals is investing $150 million to develop a copper mine in Zambia, the company announced at the U.S.-Africa Leaders Summit in Washington, D.C., a win for Zambia’s president who has set an ambitious copper production target. The Mingomba project will be a joint venture with Australian private equity firm […]