Tech News

Most Asian markets drop after recession warning, rate hike seen

Asian markets mostly fell Thursday after minutes from the Federal Reserve's most recent policy meeting showed officials saw a US recession at the end of the year, while inflation data could not temper expectations of another interest rate hike.. "The staff's projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years," according to the minutes of the Fed policy meeting, where rates were lifted by 25 basis points.

Wed, Apr 12, 2023 3 mins read

Tech News

Dominion v. Fox News: major defamation case heads to trial

A closely-watched civil trial that pits vote machine maker Dominion against Fox News and tests the extent of free speech rights for media in America -- even when broadcasting alleged election falsehoods -- is due to start Thursday with jury selection.. 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.

Wed, Apr 12, 2023 2 mins read

Tech News

US banks face increased scrutiny of Q1 results after SVB collapse

Roughly a month after Silicon Valley Bank's collapse sparked fears of contagion, quarterly earnings reported this week are expected to focus on bank liquidity and the industry's preparation in case of recession.. Earnings season kicks off Friday, with reports from giants JPMorgan Chase, Citigroup, Wells Fargo and the midsized lender PNC.  The releases from other lenders, including those in the embattled group of regional firms such as First Republic Bank, will come later in the month and could focus more directly on their liquidity positions.

Wed, Apr 12, 2023 3 mins read

Tech News

Brazil clamps down on social media after school attacks

Brazil's government on Wednesday announced new restrictions on social media, aiming to curb an "epidemic" of violent school attacks one week after a hatchet-wielding assailant killed four children.. Last Wednesday four children between four and seven years old were killed in a preschool in Blumenau, a city in southern Santa Catarina state, when a man carrying a hatchet stormed the facility.

Wed, Apr 12, 2023 1 mins read

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Egypt's Sisi meets UAE leader amid economic woes

Egyptian President Abdel Fattah al-Sisi on Wednesday welcomed his Emirati counterpart Sheikh Mohamed bin Zayed al Nahyan in Cairo, his latest meeting with a leader from the oil-rich Gulf amid his country's economic crisis.. Cairo also serves as the headquarters of the Arab League and on April 1 welcomed Syrian Foreign Minister Faisal Mekdad, who on Wednesday was in Saudi Arabia for the first time since his country's civil war broke out.

Wed, Apr 12, 2023 1 mins read

Tech News

Juul to pay $462 mn in latest US youth vaping settlement

Juul agreed to pay $462 million to six states and the District of Columbia to settle charges that it violated numerous laws in marketing tobacco products to youth, prosecutors said Wednesday.. The agreement, announced by prosecutors from New York, California and four other states, follows an earlier $438.5 million Juul settlement with 34 different US states and marks the latest black mark on the e-cigarette company.

Wed, Apr 12, 2023 1 mins read

Tech News

3D-printed rocket maker to focus on bigger vehicle for commercial launches

Relativity Space, an aerospace startup that carried out the first test flight of a 3D-printed rocket, announced Wednesday that it will focus on a bigger rocket to compete for commercial launches with SpaceX and other companies.. Although it failed to reach orbit, the test flight proved that the rocket -- whose mass is 85 percent 3D-printed -- could withstand the rigors of liftoff and space flight.

Wed, Apr 12, 2023 1 mins read

Tech News

UK, US sanctions target Russian oligarch Usmanov and Cypriot 'fixers'

Britain and the US targeted fresh sanctions Wednesday at Russian oligarch Alisher Usmanov and Cyprus-based "financial fixers" who allegedly help mask his assets as well as those of fellow Russian billionaire Roman Abramovich.. - Cypriot fixers - Usmanov has "a wide network of businesses in financial safe-havens" including Cyprus which, helped by family members, he uses to move money that could circumvent sanctions, according to the US Treasury.

Wed, Apr 12, 2023 3 mins read

Tech News

US broadcaster NPR quits Twitter as Musk admits 'many mistakes'

US radio broadcaster NPR on Wednesday said it was quitting Twitter, in the first significant defection by a major news outlet since Elon Musk's tumultuous takeover of the platform.. A spokeswoman for NPR told AFP that its journalists, as well as its affiliate radio stations "will be able to decide on their own if they want to stay on the platform."

Wed, Apr 12, 2023 2 mins read

Tech News

US broadcaster NPR quits Twitter after 'state-affiliated' row

US radio broadcaster NPR on Wednesday said it would "no longer remain active" on Twitter, accusing the platform owned by Elon Musk of undermining its credibility and sowing doubt over its editorial independence.. In a short statement, NPR said all its organizational accounts "will no longer be active on Twitter because the platform is taking actions that undermine our credibility by falsely implying that we are not editorially independent." 

Wed, Apr 12, 2023 1 mins read