Tech News

EU strikes deal to boost chip production

The European Parliament and EU member states reached an agreement Tuesday on how to boost the supply of semiconductors in Europe, as the bloc races to reduce its dependence on Asian suppliers.. "This will allow us to rebalance and secure our supply chains, reducing our collective dependence on Asia," Thierry Breton, the EU's industry commissioner, said in a statement after the parliament and the European Council, which represents member states, reached an agreement.

Tue, Apr 18, 2023 2 mins read

Tech News

Fox News on trial in $1.6 bn defamation case

Opening arguments begin Tuesday in a major defamation trial against Fox News that tests the extent of free speech rights for media in America -- even when broadcasting election falsehoods.. It claims it was only reporting on Trump's allegations, not supporting them, and is protected by free speech rights enshrined in the First Amendment of the US Constitution.

Tue, Apr 18, 2023 2 mins read

Tech News

Sacred Sundays: US high court debates religious rights at work

The US Supreme Court opened debate Tuesday on the rights of a Christian mail carrier who refuses to work on Sundays, in a case that could force employers to do more to accomodate religious beliefs in the workplace.. A 1964 federal law, amended in 1972, prohibits religious discrimination in the workplace and requires employers accomodate employees' beliefs as long as it does not "unduly burden" their business.

Tue, Apr 18, 2023 2 mins read

Tech News

HSBC's largest shareholder outlines bank break-up strategy

HSBC's largest shareholder ramped up pressure on the bank to break up its business on Tuesday, saying it was underperforming and has failed to "address key business model challenges".. "It is necessary for HSBC to push for structural reform to fundamentally address HSBC's underlying market competitiveness issues," Michael Huang, chairman and CEO of Ping An Asset Management, said in a statement.

Tue, Apr 18, 2023 2 mins read

Tech News

UK overhauls energy regulation after meter scandal

Britain cracked down Tuesday on energy suppliers' forced installation of prepaid meters following outrage as some of their most vulnerable customers faced higher bills during a cost-of-living crisis.. Ofgem said Tuesday that the new voluntary code, signed up to by all energy suppliers, will halt such forced installations for customers over the age of 85 and those with severe health issues.

Tue, Apr 18, 2023 2 mins read

Tech News

Electric vehicles are key battleground at Shanghai Auto Show

China was the road to the future for foreign brands at the Shanghai Auto Show on Tuesday, who are racing to catch up with Chinese competitors in the crucial electric vehicle market.. Zeekr, a premium electric brand owned by Geely, confirmed on Tuesday that it would enter the European market.

Tue, Apr 18, 2023 2 mins read

Tech News

Goldman Sachs results hit by slowdown in corporate mergers

A slowdown in corporate transactions and weak trading results weighed on Goldman Sachs' first-quarter results on Tuesday, sending shares lower.. The big investment bank pointed to a "significant decline in industry-wide completed mergers and acquisitions transactions" and much lower revenues for currency and commodities trading as drivers of the dip in profits.

Tue, Apr 18, 2023 1 mins read

Tech News

Absolut vodka says halts exports to Russia

The maker of Sweden's Absolut vodka said Tuesday it was ceasing all exports to Russia after calls to boycott the brand flared up in Sweden and on social media.. The Absolut Company said it "has decided to stop the export of its brand to Russia."

Tue, Apr 18, 2023 1 mins read

Tech News

Electric vehicles are key battleground at Shanghai Auto Show

China was the road to the future for foreign brands at the Shanghai Auto Show on Tuesday who are racing to catch up with Chinese competitors in the crucial electric vehicle market.. EVs now make up one out of four car sales in China, the world's largest car market, and dozens of new models from domestic and Western brands were unveiled at the first auto show since the end of China's Covid restrictions.

Tue, Apr 18, 2023 2 mins read

Tech News

EU lawmakers adopt vast carbon market reform

The European Parliament adopted sweeping climate measures on Tuesday aimed at massively cutting EU greenhouse emissions, including the introduction of a carbon border tax on imports.. Technically called an "adjustment", not a tax, this measure requires importers into the EU whose products exceed the bloc's carbon norms to buy an "emission certificate".

Tue, Apr 18, 2023 2 mins read