Tech News

US multinationals grapple with soaring dollar

The rapid rise of the US dollar since the start of the year is a double-edged sword for American multinational companies, pushing some of them to decide whether to hedge or reposition their activities abroad to avoid fallout.. Adobe, Salesforce, Biogen and Pfizer have all warned that the dollar's rapid rise will have a greater impact on their accounts than expected. - $40 billion hit - Companies that generate most of their revenue outside of the United States are the most exposed, starting with tech giants, medical equipment makers and service companies, according to Kyriba, a corporate cash management platform.

Argentine economy minister who renegotiated IMF debt resigns

Argentine economy minister Martin Guzman, who led debt renegotiations with the International Monetary Fund, announced his resignation Saturday, sparking fresh uncertainty in Latin America's third largest economy.. As economy minister, the 39-year-old Guzman was tasked with renegotiating a $44 billion debt with the IMF that Argentina insisted it could not afford to repay.

Hundreds of flights axed as US kicks off long holiday weekend

Airlines struggling to staff their planes cancelled hundreds of US flights Saturday at the start of a long and almost certainly messy holiday travel weekend.. On Saturday, Buttigieg tweeted a series of tips on what to do if one's flight is cancelled, such as whether to accept travel points or miles as compensation, or demand a cash refund.

Tesla deliveries fall with temporary closure of China factory

Tesla's deliveries of electric vehicles fell in the second quarter compared to the previous one due mainly to a weeks-long closure of its factory in China, the company said Saturday.. But in the second quarter Tesla had to grapple with the closure of its Shanghai factory for several weeks because of strict lockdown measures in China due to a surge in Covid-19 cases.

Hundreds of flights axed as US kicks off long holiday weekend

Airlines cancelled several hundred US flights Saturday at the start of a long and almost certainly messy holiday travel weekend as carriers struggled to staff their planes.. On Saturday Buttigieg put out a series of tweets that were essentially consumer tips on what to do if one's flight is cancelled, like whether to accept travel points or miles as compensation or demand a cash refund.

Google to delete user location history on US abortion clinic visits

Google announced Friday it would delete users' location history when they visit abortion clinics, domestic violence shelters and other places where privacy is sought.. "If our systems identify that someone has visited one of these places, we will delete these entries from Location History soon after they visit," Jen Fitzpatrick, a senior vice president at Google, wrote in a blog post.

Kerry vows US to meet climate goal despite court setback

US climate envoy John Kerry vowed Friday the United States will meet goals it submitted to the United Nations on slashing greenhouse gas emissions, despite a Supreme Court ruling that curtailed the government's powers.. We can achieve our goals," Kerry told AFP. "But obviously it would help if we had a majority of the Supreme Court in the United States of America that actually understood the gravity of the situation and was more willing to try to be helpful rather than present a hurdle of one kind or another," he said.

French police bust gang selling fake Bordeaux wine

French police have broken up a gang that had allegedly produced hundreds of thousands of bottles of fake Bordeaux wine in an elaborate counterfeiting operation, prosecutors said on Friday.. The main suspect is a winemaker and broker in the Medoc region near Bordeaux who was buying low-grade wine from other areas including Spain, then bottling it up as more expensive local produce, a statement from Bordeaux prosecutors' office said.

Stocks choppy, dollar frothy

Stock markets wobbled on Friday while the dollar shot higher against the euro and pound as investors fretted about interest rate hikes and a possible recession.. The dollar, a safe-haven currency, jumped one percent against the pound and the euro on rising expectations of a recession.

S.Leone slashes 'zeros of shame' from banknotes

Sierra Leone on Friday introduced a new family of banknotes, stripping three zeros off the leone, in a bid to restore confidence in the inflation-hit national currency.. Year-on-year inflation in the West African state was 24.87 percent in May, according to the national statistics agency.