Category: Business & Economy

Authorities in two Indian states that are driving its economic growth are drafting tighter workplace rules and inspections to protect white collar employees following the death of a young executive at global consultancy Ernst & Young (EY), which her family blamed on overwork. India’s decades-old labour laws are largely focused on blue-collar workers, leaving others vulnerable to workplace abuse such…

Ever since the US and its allies imposed sanctions on Russia following the invasion of Ukraine, Western officials have been frustrated by Moscow’s continued ability to get its hands on American technologies to help power its war efforts. Russian weapons recovered from battlefields in the region are chock full of gear from firms like Intel Corp. and Analog Devices Inc.,…

Morgan Stanley Smith Barney will pay a $15 million penalty as part of a settlement with the Securities and Exchange Commission related to four financial advisers who stole millions of dollars of advisory clients’ and brokerage customers’ funds. The settlement announced late Monday is also related to the firm’s failure to adopt policies and procedures designed to prevent and detect…

The video, seen below, shows a shooter assassinating UnitedHealthcare CEO, Brian Thompson, outside a Manhattan hotel. The manhunt for the shooter is still underway 3 days later. News outlets have been irresponsibly posting images of a suspect wearing similar clothing, but who can be seen to be wearing a different jacket and carrying a dark backpack. The shooter’s backpack is…

(Reuters) – A federal judge in Texas on Friday rejected a request by the Consumer Financial Protection Bureau to lift an order that blocked a new rule capping credit card late fees at $8, a policy challenged by business and banking groups. U.S. District Judge Mark Pittman in Fort Worth declined to dissolve an injunction he issued in May that…

BOISE, Idaho (AP) — The Associated Press and two other news organizations are suing Idaho’s top prison official for increased access to lethal injection executions, saying the state is unconstitutionally hiding the actual administration of the deadly drugs from public view. The AP, The Idaho Statesman and East Idaho News filed the lawsuit against Idaho Department of Correction Director Josh…

NEW YORK – A former Allianz fund manager was spared prison time on Friday over his role in a meltdown of private investment funds sparked by the COVID-19 pandemic that caused an estimated $7 billion of investor losses. Gregoire Tournant, 57, of Basalt, Colorado, pleaded guilty in June to two counts of investment adviser fraud. He agreed to give up…

LONDON – London’s Metropolitan Police force said on Dec 6 that it had used facial recognition technology to make more than 500 arrests in 2024 for offences ranging from shoplifting to rape. The force uses live facial recognition in specific areas of the UK capital, positioning a van equipped with cameras in a pre-agreed location. The cameras capture live footage…

The White House is listening to demands for President Joe Biden to extend the same grace to thousands of people wronged by the U.S. judicial system as he did to his son Hunter, officials say. Since Biden’s pardon of Hunter on Sunday, a growing chorus of civil rights activists and lawmakers have called for broader clemency for other people they…

Teva Pharmaceutical Industries said on Thursday it will transfer ownership of its business venture that sold generics in Japan to JKI. Israel-based Teva’s deal with JKI will transfer all the shares of the unit Teva-Takeda and its subsidiary Teva Takeda Yakuhin to the firm. Teva-Takeda is a joint venture established in 2016 by Japanese drugmaker Takeda and Teva, focusing primarily…

Vietnam has suspended the operations of Chinese online retailer Temu after it failed to meet a government deadline to register the company by the end of November. It is unclear if Temu, a unit of Chinese e-commerce giant Pinduoduo, will be allowed to resume its business once it registers. The suspension comes after the ministry had raised concerns about the…

One bitcoin will now set you back six figures. The cryptocurrency’s break above the $100,000 milestone has felt inevitable since Donald Trump’s election as the next U.S. president on a crypto-friendly platform. While it is just a number, it highlights how cryptos have carved out a place in modern financial markets. Some commentators joked that perhaps a sales pitch from…

Since rumors began to spread that a startup called Palantir helped to kill Osama bin Laden, Alex Karp hasn’t had much time to himself. On one sun-baked July morning in Silicon Valley Palantir’s lean 45-year-old chief executive, with a top-heavy mop of frazzled hair, hikes the grassy hills around Stanford University’s massive satellite antennae known as the Dish, a favorite…

French lawmakers on Dec 4 voted to oust the government of Prime Minister Michel Barnier after just three months in office, a historic move which plunged the country further into political chaos. For the first time in over 60 years, the National Assembly lower house toppled the incumbent government, approving a no-confidence motion that had been proposed by the hard…

Mexican authorities detained more than 5,200 migrants across the country on Tuesday, officials said on Wednesday, in a major sweep as the nation is under pressure from the incoming U.S. government to crack down on arrivals at the U.S.-Mexico border. U.S. President-elect Donald Trump has called on Mexico to ramp up efforts to stop both migrants and synthetic drugs such…

A member of China’s powerful Central Military Commission has been suspended and put under investigation, the country’s Defense Ministry said Thursday. Miao Hua was director of the political work department on the commission, which oversees the People’s Liberation Army, the world’s largest standing military. He was one of five members of the commission in addition to its leader, Chinese President…