Category: Business & Economy

In letters sent to all insurance firms, the regulator reminded them of its expectations to make sure they’re checking their products are providing fair value to their customers. The FCA also identified further evidence that some Guaranteed Asset Protection (GAP) products may be failing to provide fair value to customers. This comes as the FCA publishes its latest insurance Value…

The information supplied by banks, building societies and payment companies suggests that no firm closed an account between July 2022 and June 2023 primarily because of a customer’s political views. The Payment Accounts Regulations ban banks or building societies discriminating on this basis. The FCA will be doing further work with firms to verify the data and to better understand…

Jerusalem – Azerbaijan’s space agency, Azercosmos, acquired two multi-spectral electro-optical spy satellites from Israel Aerospace Industries as part of the Azersky-2 program. The Azeri Agency and the Tel Aviv area-based company did not disclose the satellite model or value of the contract in announcing the deal, but both have previously said the agreement is worth about $120 million, and Defense…

I know many of you have heard this before, but Cory Doctorow’s “enshittification” concept is such a useful framework to think about things: first, companies are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. As I’ve highlighted,…

Russian air defenses shot down 31 Ukrainian drones during a concerted nighttime attack by Kyiv’s forces on border regions, the country’s Defense Ministry said Wednesday, as uncertainty grew over Ukraine’s future access to weapons and ammunition from its Western allies. The drone attack appeared to be Kyiv’s largest single cross-border drone assault reported by Moscow since it launched its invasion…

OTTAWA — Canadian Sikhs are grateful to Prime Minister Justin Trudeau for giving voice to their fears and standing up to India at the risk of a severe backlash from New Delhi, which he said could be linked to the killing of a Sikh separatist leader. The Indian government considered Hardeep Singh Nijjar, a Canadian citizen who was shot to…

Unintended Consequences We’ve spilled a great deal of ink discussing the GDPR and its failures and unintended consequences. The European data privacy law that was ostensibly built to protect the data of private citizens, but which was also expected to result in heavy fines for primarily American internet companies, has mostly failed to do either. While the larger American internet…

WASHINGTON, Sept 28 (Reuters) – Republicans leading an impeachment inquiry of President Joe Biden detailed foreign payments to members of his family in their first hearing on Thursday, but did not provide evidence that the Democratic president had personally benefited. The initial impeachment hearing by the U.S. House of Representatives Oversight Committee served as a review of evidence that Republicans have…

The US Department of Justice has stepped up its probe into Credit Suisse Group and UBS Group over suspected compliance failures that allowed Russian clients to evade sanctions, according to people familiar with the situation. What began as a series of subpoenas sent to a range of banks early this year has developed into a full-scale investigation focusing on Credit…

Occupied Jerusalem, SANA- The Israeli occupation forces arrested 15 Palestinians on Wednesday in different areas in the West Bank. Wafa News Agency reported that the occupation forces stormed at dawn on Wednesday Beit Daqo town and al-Issawiya village in occupied Jerusalem and arrested eight Palestinians, and five others in Nablus city, including three brothers and two young men from Tubas…

Major international governments have signed multibillion-dollar legal contracts with drug companies in order to secure access to covid-19 vaccines. But the drug companies and governments have refused to divulge details, saying the information is “commercial in confidence.” In 2021, we got our first peek at contracts between Pfizer and various international countries after they were leaked to The Bureau of Investigative Journalism and…

  BEIJING – In the gloom of China’s economy, one area of business is booming: cosmetics. After enduring nearly three years of mandatory masks and frequent lockdowns during the Covid-19 pandemic, many Chinese consumers, wary of big-ticket purchases like apartments, are now splurging on lipstick, perfume, moisturisers and other personal care products. But cosmetics companies from France, Japan, South Korea…

  Australia has awarded US defense contractor L3Harris a $210-million contract to develop an underwater tracking capability that relays data on the location and movement of assets operating within the tracking field. The Maritime Underwater Tracking Ranges (MUTR) kicks off Australia’s SEA1350 MUTR Phase 3 Program, which will provide subsurface support for the Royal Australian Navy. The program aids the…

  WASHINGTON (AP) — Ukrainian President Volodymyr Zelenskyy returned to Washington on Thursday for a whirlwind one-day visit, this time to face the Republicans now questioning the flow of American dollars that for 19 months has kept his troops in the fight against Russian forces. Zelenskyy arrived at the Capitol to talk privately with Republican and Democratic leaders of the…

  GRAZ, Austria — The Austrian Air Force will buy four Embraer C-390 “Millennium” aircraft to replace its aging fleet of three C-130 “Hercules” cargo planes in a deal that is expected to be worth more than half a billion Euros ($532 million), the defense ministry announced on Wednesday. Austria’s current fleet of turboprop transporters was purchased second-hand 20 years…

The software company purchased the additional coins at an average price of $19,851. MicroStrategy (MSTR) bought 301 bitcoins (BTC) between Aug. 2 and Sept. 19 for about $6 million, according to a filing with the U.S. Securities and Exchange Commission on Tuesday. The software company that was co-founded by entrepreneur and crypto advocate Michael Saylor bought the world’s largest cryptocurrency…