Tag: Business
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US judge blocks Pentagon from listing WuXi as Chinese military-linked firm
The biotechnology company said in its lawsuit that its designation as a Chinese military company was arbitrary, capricious, unsupported by the facts and “the product of political pressure”.
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Data center firm Switch confidentially files for US IPO, Bloomberg News reports
Aug 7 : Data center firm Switch filed confidentially for a U.S. initial public offering, Bloomberg News reported on Friday, citing people familiar with the matter.Reuters has previously reported, citing sources, that the company could raise up to $10 billion as soon as the fourth quarter at close to a $80 bil
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Brazil tightens crypto transfers to curb fraud
SAO PAULO, Aug 7 : Brazil’s central bank said on Friday that some cryptocurrency transfers will have to be delayed by up to 24 hours under new anti-fraud rules.• The central bank said the move reflects the growing use of virtual assets, including stablecoins, to quickly move money obtained through financial
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US regulator rejects Dutch fintech Bunq’s application for national bank charter
Aug 7 : Dutch fintech Bunq said on Friday that the U.S. Office of the Comptroller of the Currency (OCC) had rejected its application for a national bank charter, dealing a setback to the company’s plans to expand its banking operations into the United States.• “The OCC wants to see a plan more specifically
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Explainer-How could New Mexico’s $567 million ruling change Meta?
Aug 7 : A New Mexico state court ordered Meta Platforms, owner of Facebook and Instagram, to make major changes to its platforms and pay the largest sum yet in a growing wave of U.S. litigation over claims that social media harms young people. Here is a look at the decision and its potential consequences.
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‘SaaSpocalypse’ debate intensifies as software stocks swing wildly
This week saw massive moves in both directions for software stocks, as investors try to figure out which names are best insulated from artificial intelligence.
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US sanctions Dubai crypto exchange for aiding Iran’s IRGC, following a Reuters report
Aug 7 : The United States on Friday sanctioned an unlicensed multi-state cryptocurrency exchange, alleging it processed millions of dollars of crypto for Iran’s elite Islamic Revolutionary Guard Corps and other groups linked to the Iranian state. The designation follows a Reuters investigation published on
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OpenAI flags possible critical cybersecurity risk in upcoming model, tightens controls
Aug 7 : OpenAI said on Friday it cannot rule out that its upcoming AI model, Astra, has “critical” cybersecurity capabilities, prompting the startup to pause some internal development and trigger safety protocols.Under OpenAI’s safety guidelines, a model reaches the “critical” threshold if it can autonomously
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Burger King overtakes Wendy’s as the nation’s second-largest burger chain
Burger King is once again the second-largest burger chain in the U.S. by system-wide sales.
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Take-Two touts ‘unprecedented GTA VI pre-orders’, but maintains bookings target
Aug 7 : Take-Two Interactive said on Friday it is seeing “unprecedented” demand for “Grand Theft Auto VI”, reinforcing investor expectations of a major boost to the company from the blockbuster title’s planned release in November.Shares of Take-Two rose more than 4 per cent even as the videogame publisher stu
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