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Canada At A Crossroads: Leadership Transition As Trudeau To Resign 01/07/2025

UK Government Cracks Down On Deepfake Technology With New Criminal Offenses To Protect Women And Girls 01/07/2025

U.S. Federal Reserve Shifts Focus To Stabilization Amid Economic Uncertainty 01/08/2025

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Business & Finance

UK Court Approves More Than $14 Bln Class Action Against Mastercard

A class action against the global payments processor Mastercard was approved by a London court whose claim is more than 10 billion pounds ($14 billion-plus). 46 million British adults could be the claimants in the case with each of them potentially receiving about 300 pounds each if the case is won...

Court bans ConocoPhillips from developing oil project in Alaska

A judge in the US state of Alaska has invalidated a major oilfield development permit for ConocoPhillips from the previous US President Donald Trump era, the Anchorage Daily News reported, citing a court document. Late last year, the Trump administration approved a multi-billion dollar...

Amazon overtakes Walmart in global retail sales

The world's largest retailers, excluding China, have had a change of leaders. Amazon came out on top in retail sales, displacing Walmart. The latter remains the leader in U.S. sales, but may give up that lead as early as next year. Jeff Bezos's Amazon online retailer has become the leader in global...

China prepares new restrictions for IT sector

The State Administration of Market Regulation of the People's Republic of China has drafted new rules for antitrust regulation of the technology sector. It provides for further tightening of regulations for IT companies. The watchdog will collect public feedback on the bill until September 15,...

Airbnb is expecting drop in bookings due to the delta COVID-19 strain

Rental housing service Airbnb expects the number of bookings on the site to decline in the third quarter compared to the same period in 2019. The company's stock fell 4 percent after the announcement. Executives at international apartment rental service Airbnb warned investors of a possible drop in...

Adidas sells Reebok for €2.1B

Adidas has signed an agreement with the American company Authentic Brands Group (ABG) to sell its Reebok brand. The deal will total up to €2.1 billion ($2.5 billion), most of which will be paid in cash and the rest in contingent and deferred consideration. Adidas intends to complete the sale in the...

Top Indian Court Rules Amazon And Rival Walmart's Flipkart Must Face Antitrust Probe

Antitrust investigations ordered against Amazon.com Inc and Walmart's Flipkart by Indian competition regulators must be faced by the two retailers, said the country's Supreme Court in a ruling. This ruling from the top court of India was a blow to both the retailers as they had...

U.S. authorities set to introduce full control over cryptocurrencies

Lobbyists defending cryptocurrency have been rebuffed on a proposal to fix general tax rules in the U.S. Senate. Politicians argue that the industry needs more money for future legislative battles for its interests, writes Bloomberg. The emerging industry has failed to push for changes to the...

Reliance, Bill Gates, Others Invest $144 Mln In US Energy Storage Firm

An investment of $144 million will be made in the United States based energy storage company Ambri Inc by Indian oil-to-telecoms conglomerate Reliance Industries Ltd, the Indian firm said on Tuesday. Other investors in the company include billionaire Bill Gates and investment management...

Despite Crackdown On Domestic Tech Firms, China’s ByteDance Plans Hong Kong IPO: FT

Despite a string crackdown of Chinese regulators on domestic home grown technology companies, Chinese tech firm and owner of the popular short-video app TikTok - ByteDance, has revived its plans for a public listing and wants to go public in Hong Kong by early next year. According to a...