The Federal Deposit Insurance Corp is expected to propose next month how to make the U.S. banking sector pay for an estimated $23 billion hole in its insurance fund by the collapse of Silicon Valley Bank and Signature Bank in March. The agency has broad authority in setting the terms of what is known as […]
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Italy’s data protection agency said on Wednesday it would lift its temporary ban on OpenAI’s ChatGPT artificial intelligence (AI) technology if the U.S. company complied with data protection and privacy demands by end-April. Rapid advances in AI such as Microsoft-backed OpenAI’s ChatGPT are complicating governments’ efforts to agree on laws governing the use of the […]
A former Deutsche Bank AG investment banker has been charged in an indictment unsealed on Tuesday with misappropriating funds from investors whom he wooed with promises of big returns from cryptocurrency trading. Rashawn Russell, 27, of Brooklyn, solicited investments from friends and colleagues but used the funds for gambling and other personal expenses, federal prosecutors […]
The US economy is often considered the backbone of the global financial system. It has been showing signs of weakness in recent months, with data pointing towards sluggish growth and lower-than-expected performance in various sectors. This has led to a ripple effect on global markets, impacting not only the US dollar index but also other […]
Ford Motor Co said Tuesday that next year it will start retooling its sport utility vehicle assembly plant in Oakville, Ontario to produce electric vehicles, fulfilling a promise made to Canada’s Unifor union during contract bargaining in 2020. Ford plans to begin overhauling the Oakville complex in the second quarter of 2024, idling most of […]
France’s antitrust regulator is expected to go ahead soon with an investigation into Apple Inc over complaints tied to changes that the iPhone maker made in 2021 to its app tracking policies, news website Axios reported on Tuesday. French regulators are in favor of issuing a formal “Statement of Objections” to parties involved in the […]
Chinese state-owned telecom firms are developing a $500 million undersea fiber-optic internet cable network that would link Asia, the Middle East and Europe to rival a similar U.S.-backed project, four people involved in the deal told Reuters. The plan is a sign that an intensifying tech war between Beijing and Washington risks tearing the fabric […]
Complaints from consumers about banks and other financial firms in Germany rose by a fifth last year, official data shows, as regulators flex their muscles to shore up trust in the sector. BaFin, Germany’s financial watchdog, has been increasing its focus on consumer protection in the wake of the collapse of Wirecard, the blue-chip payment […]
Telecom mergers and acquisitions have raised concerns about their impact on competition, innovation, and investment in the telecommunications industry. ________________ The telecommunication industry has witnessed several mergers and acquisitions of large companies. These actions have raised concerns about their impact on competition, market shares, and customer benefits. While the intentions of these companies may be […]
The U.S. Environmental Protection Agency said on Wednesday it is proposing tighter standards for mercury and other toxic emissions from coal plants for the first time in a decade, putting pressure on the country’s dirtiest power plants to clean up. The proposal would lower the emissions limit for filterable particulate matter, which includes mercury and […]