The European Union has agreed to allow retaliation against countries that put undue economic pressure on EU members to change their policies, such as the trade restrictions the bloc says China has imposed on Lithuania. Representatives of the European Parliament and the Council, the grouping of EU countries, reached a provisional deal on the anti-coercion […]
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The Japanese construction company targeted for takeover by the family office linked to Nintendo Co’s founder is pushing back against the fund and has asked the government to investigate alleged breaches of foreign ownership rules. Toyo Construction Co, the marine construction company now 27% owned by Yamauchi-No.10 Family Office (YFO), made the request to the […]
Alibaba Group Holding Ltd said it plans split its business into six main units covering e-commerce, media and the cloud, adding that each will explore fundraising or initial public offerings. Alibaba’s U.S.-listed shares rose 7% in pre-market trading. Here are comments from analysts: THOMAS HAYES, CHAIRMAN AT GREAT HILL CAPITAL, NEW YORK “This is the […]
The telecom industry is constantly evolving, and with the advent of 5G technology, many are already looking ahead to the future of 6G. While many are eager to leap into the future, some raise concerns about the need to address current infrastructure challenges. As one famous quote says, “Rome wasn’t built in a day.” Therefore, […]
The world’s biggest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. Commodity Futures Trading Commission (CFTC) on Monday for operating what the regulator alleged were an “illegal” exchange and a “sham” compliance program. The CFTC sued Binance, Zhao and its former top compliance executive with “willful evasion” of […]
Pinterest Inc will end leases of certain office spaces as part of a restructuring plan, the image-sharing platform said on Monday, in addition to about 4% workforce reduction it started last month. U.S. companies from technology to finance have stepped up cost cuts as they brace for a potential recession. Pinterest said it expected to […]
EU police force Europol on Monday warned about the potential misuse of artificial intelligence-powered chatbot ChatGPT in phishing attempts, disinformation and cybercrime, adding to the chorus of concerns ranging from legal to ethical issues. Since its release last year, Microsoft-backed OpenAI’s ChatGPT has set off a tech craze, prompting rivals to launch similar products and […]
The sale of failed Silicon Valley Bank (SVB) to a regional U.S. peer helped stabilise shares in European lenders on Monday, after the sector was hammered last week by worries about systemic bank stress and a looming credit crunch. The sudden collapse of tech-focused SVB earlier this month triggered the worst banking shock since the […]
On an April day, the founder of a U.S. startup called Make Sunsets stood outside a camper van in Mexico’s Baja California and released two weather balloons containing sulfur dioxide into the air, letting them float towards the stratosphere. Entrepreneur Luke Iseman said the sulfur dioxide in the balloons would deflect sunlight and cool the […]
First Republic Bank became the epicenter of the U.S. regional banking crisis after the wealthy clients it courted to fuel its breakneck growth started withdrawing deposits and left the bank reeling. Wall Street’s top banks, led by JPMorgan Chase & Co, have been trying for more than a week to raise capital for San Francisco-based […]