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Twitter Withdraws From The EU's Voluntary Anti-Fake News Code

Singapore's Temasek Lowers Salaries For Employees In Charge Of FTX Investments

Reader's Pick

A Final Batch Of Business Teams Fired By Facebook Owner Meta 25/05/2023

Kohl's Shares Hiked On Unexpected Earnings As The CEO's Turnaround Strategy Takes Hold 25/05/2023

New CEO Of Vodafone Is Cutting 11,000 Jobs Globally To Decrease Costs 17/05/2023

Results From Nvidia Trigger An Almost $300 Billion Rise In AI Stocks 25/05/2023

Ford Plans To Reduce Costs And Use Electric Vehicles To Reassure Investors 23/05/2023

Latest Business News
Twitter Withdraws From The EU's Voluntary Anti-Fake News Code

Twitter Withdraws From The EU's Voluntary Anti-Fake News Code

Companies

According to the European Union, Twitter has left the voluntary code in an effort to combat misinformation. The EU's internal market commissioner, Thierry Breton, tweeted the news, but he also cautioned that the strict new standards would need compliance.   "Obligations remain. You can run but you can't hide," he said.   From August 25, Twitter will be compelled by law to combat...
Singapore's Temasek Lowers Salaries For Employees In Charge Of FTX Investments

Singapore's Temasek Lowers Salaries For Employees In Charge Of FTX Investments

Companies

Temasek Holdings, a Singaporean state investor, announced on Monday that it had reduced compensation for both the top management group and the team that proposed Temasek's participation in the now-bankrupt FTX bitcoin exchange.   The action was taken about six months after Temasek began an internal investigation of its investment in FTX, which led to a $275 million writedown.  ...
Following Fraud, A Billionaire From Georgia Wins $926 Million From Credit Suisse

Following Fraud, A Billionaire From Georgia Wins $926 Million From Credit Suisse

Companies

In one of the largest legal judgements against the bank, Credit Suisse was ordered by a Singapore court to pay the former prime minister of Georgia $926 million for losing some of his fortune.   In the most recent setback for the struggling bank, which is being taken over by UBS, Singapore's International Commercial Court ruled that a unit of Credit Suisse had not behaved in good faith and...
7%+ Increase In Ford And Tesla Stocks Following Superchargers Agreement

7%+ Increase In Ford And Tesla Stocks Following Superchargers Agreement

Companies

After the second largest automaker of the United States revealed a pact allowing its electric-vehicle owners to access competitor Tesla Inc's charging stations in North America, Ford Motor Co shares increased by more than 7% on Friday.   According to Ford CEO Jim Farley, Tesla's Superchargers may end up being the norm for EV charging in the US, but he also noted that "with adapters...
Ford Signs An Agreement With Tesla To Start Using Competing Charging Stations In 2024

Ford Signs An Agreement With Tesla To Start Using Competing Charging Stations In 2024

Companies

Ford Motor Company announced on Thursday that it and Tesla Inc. have reached an agreement to give owners of its electric vehicles access to more than 12,000 Tesla Superchargers in North America starting in early 2024.   Ford is the first major manufacturer to adopt Tesla's proprietary charging standard as a result of the partnership between the two rivals, providing Ford access to the...
Threat To Leave The EU By OpenAI CEO Sparks Criticism From Lawmakers

Threat To Leave The EU By OpenAI CEO Sparks Criticism From Lawmakers

Companies

Sam Altman, CEO of Microsoft-backed OpenAI, has been pleading with legislators all around the world to create new regulations for the technology for months. He warned on Wednesday that if the EU "overregulated," the manufacturer of the ChatGPT would quit.   The past week has seen Altman travelling throughout Europe, meeting with leading politicians in France, Spain, Poland, Germany, and...
Kohl's Shares Hiked On Unexpected Earnings As The CEO's Turnaround Strategy Takes Hold

Kohl's Shares Hiked On Unexpected Earnings As The CEO's Turnaround Strategy Takes Hold

Companies

The department store chain's shares increased by as much as 19% after Kohl's Corp. revealed a surprise profit and its new CEO's attempts to turn around the business, which saw its margins decline last year, started to bear fruit.   Despite reporting a larger-than-anticipated decline in quarterly comparable store sales, the firm also maintained its full-year forecasts.   Kohl's is...
A Final Batch Of Business Teams Fired By Facebook Owner Meta

A Final Batch Of Business Teams Fired By Facebook Owner Meta

Companies

As part of a three-part wave of layoffs, Meta Platforms Inc., the company that owns Facebook, reduced employment across its business and operational groups on Wednesday. The plan to cut 10,000 positions was first disclosed in March.   A significant number of workers who were part of teams such as marketing, site security, enterprise engineering, programme management, content strategy, and...
Results From Nvidia Trigger An Almost $300 Billion Rise In AI Stocks

Results From Nvidia Trigger An Almost $300 Billion Rise In AI Stocks

Markets

Artificial intelligence-related stocks soared in extended session on Wednesday, increasing the market value by about $300 billion after chipmaker Nvidia Corp forecasted strong revenue growth and announced it was increasing production of its AI chips to keep up with rising demand.   After the bell, Nvidia's stock soared as much as 28% to reach its all-time high of $391.50. This extended the...
Amidst Growing Sino-U.S. Tensions, China's Micron Ban Shows The Challenge Facing Chipmakers

Amidst Growing Sino-U.S. Tensions, China's Micron Ban Shows The Challenge Facing Chipmakers

Markets

As the world's semiconductor industry prepares for rising Sino-U.S. trade tensions, China's announcement on Sunday banning the use of some Micron Technology chips from the United States is a harsh reminder of the risks it faces.   China's action against Micron, the largest manufacturer of memory chips in the United States, was largely perceived as payback for Washington's attempts to limit...
Bitcoin's Activity Gives Rise To A New Type Of Cryptocurrency

Bitcoin's Activity Gives Rise To A New Type Of Cryptocurrency

Markets

The situation on the bitcoin blockchain is getting hotter.   According to data from Glassnode, daily transactions have soared to an all-time high of 682,000 this month, over 40% higher than the previous peak in 2017. From 38% at the beginning of the year, Bitcoin's dominance, or its portion of the entire $1.16 trillion cryptocurrency market, has increased to 44%.   What is...
Ford Plans To Reduce Costs And Use Electric Vehicles To Reassure Investors

Ford Plans To Reduce Costs And Use Electric Vehicles To Reassure Investors

Companies

Ford Motor Co. has presented an ambitious plan to successfully increase electric vehicle sales, but it will be difficult to reduce expenses by $7 billion and recover Wall Street trust.   "You're not going to believe us until we start delivering it," Ford Chief Financial Officer John Lawler said at an investor day presentation. "Because we've told you this before. That's the truth. We have...

World

UN Food Agency Informs Hike In Global Food Prices - A First Time In Nine Months

UN Food Agency Informs Hike In Global Food Prices - A First Time In Nine Months
The UN Food and Agriculture Organization's world price index climbed in April for the first time in a year, although it is still 20% lower than a record high set in March 2022 following Russia's...

IMF's Chief Says Ukraine Is Just "Weeks" Away From Receiving Full Support Program

IMF's Chief Says Ukraine Is Just "Weeks" Away From Receiving Full Support Program
According to Kristalina Georgieva, managing director of the IMF, a comprehensive program of support for Ukraine is still several weeks away from being finalized.   This comes hours after the...

UN Concerned About Not Much Time Being Left With Surge In Greenhouse Gases

UN Concerned About Not Much Time Being Left With Surge In Greenhouse Gases
Greenhouse gas concentrations rose at above-average rates to new highs last year, according to the United Nations weather agency, which warned that time is running out for people to make the...

With Extensive New Export Regulations, US Hopes To Cripple China's Chip Industry

With Extensive New Export Regulations, US Hopes To Cripple China's Chip Industry
The Biden administration on Friday published a sweeping set of export controls, including a measure to cut China off from certain semiconductor chips made anywhere in the world with U.S. equipment,...

Experts Urge WHO And Governments To Take Stronger Action Against Monkeypox

Experts Urge WHO And Governments To Take Stronger Action Against Monkeypox
A huge monkeypox outbreak has expanded to at least 20 nations, prompting some notable infectious disease experts to call for speedier action from global health authorities to contain it.  ...

People

The Way Bankman-Fried Of FTX Obtained A $250 Mln Bail

The Way Bankman-Fried Of FTX Obtained A $250 Mln Bail
On Thursday, FTX founder Sam Bankman-Fried agreed to a bail deal that would see him released on a $250 million bond secured against his parents' property, with movement restrictions.  ...

Majority Of Elon Musk’s Twitter Followers Do Not Want Him As Twitter Chief, Shows A Musk-Conducted Pool

Majority Of Elon Musk’s Twitter Followers Do Not Want Him As Twitter Chief, Shows A Musk-Conducted Pool
Less than two months after taking over as CEO of the social media platform, Elon Musk faced backlash from Twitter users who voted in a poll for him to resign.   According to the poll the...

Elon Musk Looses Position As The World's Richest Individual

Elon Musk Looses Position As The World's Richest Individual
Tesla CEO Elon Musk is no longer the world's richest person. According to Forbes, he handed over that title to LVMH chairman and CEO Bernard Arnault at the end of the day on Monday.   Tesla...

Reasons Why One Should Use A New Login, Passwords Quickly Following Microsoft’s Latest Data On Hacks

Reasons Why One Should Use A New Login, Passwords Quickly Following Microsoft’s Latest Data On Hacks
If your password has recently been compromised, you are not alone.   The number of password attacks has risen to an estimated 921 per second. According to the most recent Microsoft Digital...

Lee Newman, Dean of IE Business School

Lee Newman, Dean of IE Business School
“Education is about growth”