If Twitter's lawsuit over Elon Musk's $44 billion buyout bid ever reaches trial, the case will likely center on a ubiquitous and often unloved technology: bots.. Twitter's lawsuit, which urges a court to force Musk to honor his buyout offer, could result in a trial or settlement talks that would need to plunge into the finer points of things like the firm's bot definitions and policies.
Group of 20 finance ministers and central bank chiefs from top economies met in Indonesia Friday for talks on the fallout from Russia's invasion of Ukraine, with the host warning them failure to tackle energy and food crises would be catastrophic.. A day before the meeting, Yellen set the tone, calling Russia's war in Ukraine the "greatest challenge" to the global economy and saying members of Putin's government "have no place" at the talks.
Two US agencies fined Bank of America a total of $225 million on charges it wrongfully froze unemployment and other public benefit programs at the height of the Covid-19 pandemic.. The Consumer Financial Protection Bureau imposed a $100 million penalty on Bank of America (BofA) for "botching" the disbursement of state unemployment programs during Covid-19, the agency said.
Group of 20 finance ministers and central bank chiefs from top economies will meet in Indonesia Friday for talks on the fallout from Russia's invasion of Ukraine, which has roiled markets, spiked food prices and stoked breakneck inflation.. A day before the meeting, Yellen set the tone calling Russia's war in Ukraine the "greatest challenge" to the global economy and said members of Putin's government "have no place" at the talks.
US Federal Reserve Governor Christopher Waller signaled Thursday he may support a full percentage point interest rate hike this month -- the biggest increase in more than 30 years and a further indication of the central bank's determination to crush sky-high inflation.. A full point rate hike certainly would be the biggest since 1990, and likely the most aggressive since a decade earlier when then-Fed chief Paul Volcker strangled the economy to clamp down on runaway inflation.
A seven-month ban on Twitter use in Nigeria was unlawful, according to a court ruling by West Africa's regional bloc ECOWAS seen by AFP on Thursday.. The Economic Community of West African States (ECOWAS) court issued its ruling following a suit brought by a Nigerian NGO called the Socio-Economic Rights and Accountability Project (SERAP) and rights campaigners.
Libya's government replaced the head of the key National Oil Corporation on Thursday in a dramatic move that prompted the United States to warn against any "armed confrontation" over the sector.. US Ambassador Richard Norland, who has been working on a mechanism to manage the highly disputed revenues from Libya's crude sales, said Sanalla's replacement "may be contested in court but must not become the subject of armed confrontation".
JPMorgan Chase reported a drop in second-quarter profits on Thursday as it warned of a weakening global economic outlook that prompted it to set aside additional funds to cover potential bad loans.. The bank experienced $657 million in charge-offs for bad loans, up only modestly from the level in the previous quarter.
The European Commission is expected next week to ask EU countries to reduce heating and cooling of public buildings and offices to cut demand for gas, according to a document seen by AFP. In order to better to withstand the drastic fall in Russian gas supplies, which could be cut off altogether, the commission is expected to urge governments across the 27-nation bloc to set limits on the amount of energy used by public buildings, offices, commercial properties and outdoor terraces.. The document urges EU governments, where this is "technically feasible and enforceable" to introduce binding limits on heating and cooling in "public buildings, offices, commercial buildings (in particular large buildings) ... and open spaces like outdoor terraces".
Amazon has offered a settlement against EU charges that the online giant undermined rivals by misusing the sensitive information of independent sellers to benefit its own retail business, the EU said Thursday.. In its offer, the US tech giant commits to stop using non-public data such as sales performance and revenue that are "relating to or derived from the activities of independent sellers on its marketplace," an EU statement said.
