China has unveiled plans for a sweeping central government reorganisation at its annual parliament session, including the formation of a financial regulatory body and national data bureau and a revamp of its science and technology ministry. Here are the main changes and what they mean. WHAT DOES THE RESTRUCTURING INVOLVE? A new national financial regulatory […]
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TikTok has announced out a new data security regime, nicknamed “Project Clover”, amid growing pressure from lawmakers on both sides of the Atlantic. The European Parliament, European Commission and the EU Council recently banned TikTok from staff phones due to growing concerns about the company, which is owned by Chinese firm ByteDance, and whether China’s […]
South Korea’s trade minister will meet with counterparts in Washington this week to express concerns that the U.S. Chips Act could make the U.S. a less attractive investment destination, its trade ministry said. During his trip, South Korea’s trade minister Ahn Duk-geun plans to meet with senior officials from the U.S. Commerce Department and White […]
A new pact to facilitate the safe transfer of EU citizens’ personal data to the United States might not come into force in time to avoid a suspension of Facebook’s transatlantic data flows, the U.S. firm’s lead European regulator said on Tuesday. Facebook owner Meta, which has warned a stoppage could force it to suspend […]
A bipartisan group of 12 U.S. senators will introduce legislation Tuesday that would give Commerce Secretary Gina Raimondo new powers to ban Chinese-owned video app TikTok and other foreign-based technologies if they pose national security threats, Senator Mark Warner said. “I think it is a national security threat,” Warner said on CNBC, adding the bill […]
Germany has declared last-minute opposition to a landmark European Union law to end sales of CO2-emitting cars in 2035, demanding that sales be allowed of new cars with internal combustion engines after that date if they run on e-fuels. The EU law would require all new cars sold from 2035 to have zero CO2 emissions, […]
Salesforce Inc said on Tuesday it was working with ChatGPT creator OpenAI to add the chatbot sensation to its collaboration software Slack, as well as bring generative artificial intelligence to its business software generally. The San Francisco-based company said technology it is calling EinsteinGPT would combine its proprietary AI with that of outside partners, including […]
China will form a new national financial regulatory body, consolidating oversight and replacing its banking and insurance watchdog as part of a wider government overhaul announced on Tuesday that includes plans for a national data bureau. The financial regulation proposal, presented to China’s parliament during its annual meeting, would bring supervision of the industry, excluding […]
U.S. stock index futures edged higher on Tuesday, ahead of Federal Reserve Chair Jerome Powell’s testimony before Congress that could shed more light on the central bank’s interest rate hike plans. The benchmark S&P 500 closed higher for a third straight session on Monday, as Treasury yields took a breather from their recent rally that […]
As the world gears up to celebrate International Women’s Day (IWD) on Wednesday, here is a look at what the global event stands for, this year’s theme and the issues that activists are focusing on. WHAT IS INTERNATIONAL WOMEN’S DAY? IWD is an annual event to celebrate the achievements of women and push for rights […]