Tech News

EU designates TikTok, other online platforms for stricter rules

The European Union on Tuesday designated 19 online platforms, including Instagram, TikTok and Twitter, as having user numbers so big they will come under stricter regulatory rules for content.. By August 25, 2023 the 19 platforms must have an independent compliance system in place and give their first annual risk assessment to the European Commission, including how they plan to handle content on mental health and gender-based violence.

Tue, Apr 25, 2023 2 mins read

Tech News

Dollar up as Biden confirms re-election bid

The dollar was largely higher Tuesday as Joe Biden confirmed his bid to win re-election as US president next year.. Worries that the global economy could enter a downturn this year continued to weigh heavily on stock markets Tuesday.

Tue, Apr 25, 2023 2 mins read

Tech News

General Motors lifts 2023 forecast after strong Q1 results

General Motors raised key 2023 profit projections Tuesday following a solid first quarter in which strong results in North America compensated for declines in other regions.. Deliveries rose in North America, which accounted for more than half of overall car sales.

Tue, Apr 25, 2023 1 mins read

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Ex-Audi exec pleads guilty over 'dieselgate'

A former top executive at German carmaker Audi on Tuesday pleaded guilty over the "dieselgate" emissions-cheating scandal that rocked parent company Volkswagen, after a lengthy trial.. It is not yet clear whether former Audi CEO Rupert Stadler -- the main defendant in the case, and the first auto boss in Germany to stand trial over the scandal -- will also enter a guilty plea.

Tue, Apr 25, 2023 2 mins read

Tech News

Santander profits up despite windfall tax on banks

Spanish banking giant Santander saw its first quarter net profits rise thanks to strong business activity that offset a windfall tax imposed by Spain's leftwing government, results showed Tuesday. . The robust start offset the impact of a temporary windfall tax on big banks imposed by Spain's government in January to fund measures to help households cope with higher prices. 

Tue, Apr 25, 2023 1 mins read

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Nestle sales grow on back of price increases

Swiss food group Nestle on Tuesday reported better-than-expected sales in the first three months of the year, helped by price increases to offset inflation and demand for its staple products.. "Portfolio optimization efforts and responsible pricing helped to offset the ongoing pressures from two years of cost inflation," he said.

Tue, Apr 25, 2023 1 mins read

Tech News

Moon shot: Japan firm to attempt historic lunar landing

A Japanese space start-up will attempt Tuesday to become the first private company to put a lander on the Moon.. However, Japan and the United States announced last year that they would cooperate on a plan to put a Japanese astronaut on the Moon by the end of the decade.

Tue, Apr 25, 2023 2 mins read

Tech News

Asian stocks mostly down after mixed session on Wall Street

Asian stocks were mostly down on Tuesday following a mixed session on Wall Street, with investors still casting about for direction at the start of a week of major announcements.. South Korea on Tuesday announced better-than-expected economic growth of 0.3 percent for the first quarter of the year, dodging a technical recession.

Mon, Apr 24, 2023 2 mins read

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Investors look for strength in UBS results

UBS is expected to post solid first quarter results Tuesday, with all eyes on whether the bank is strong enough to carry through its forced alliance with stricken rival Credit Suisse.. US banks have set the tone, with Citigroup, Wells Fargo and Bank of America having already posted better-than-expected results, as interest rates boosted their incomes.

Mon, Apr 24, 2023 3 mins read

Tech News

Netflix to invest $2.5 bn in South Korean content

Netflix will invest $2.5 billion in South Korean content over the next four years, the streaming giant's CEO Ted Sarandos announced after meeting with the country's President Yoon Suk Yeol in Washington.. "Netflix is delighted to confirm that we will invest USD 2.5 billion in Korea including the creation of Korean series, films, and unscripted shows over the next four years," Sarandos said in a statement given to AFP Tuesday.

Mon, Apr 24, 2023 2 mins read