Category: Business & Economy

Amazon is responsible under federal safety law for hazardous products sold on its platform by third-party sellers and shipped by the company, a U.S. government agency ordered Tuesday. In a unanimous vote, the Consumer Product Safety Commission said it determined that the e-commerce company was a “distributor” of faulty items sold on its site and packed and shipped through its…

LONDON (AP) — Britain’s competition watchdog said Tuesday it’s looking into Google’s partnership with artificial intelligence startup Anthropic, adding fresh regulatory scrutiny to investment money flooding into the AI industry. The Competition and Markets Authority said it’s seeking comments as it considers whether the deal between the two companies has resulted in a “substantial lessening of competition” in the United…

OFSI has updated General Licence INT/2022/1280876 which permits certain UK, EU and Guernsey subsidiaries of VTB and Sberbank (Russian banks) to make payment for basic needs, reasonable fees or service charges arising from routine holding and maintenance of its frozen funds and the payment of legal fees and insolvency-related services. § 5.2 of the GL has been amended to change the Insolvency…

On July 9, Turkish aviation authorities banned a Boeing 777F cargo plane of Ethiopian Airlines from flying through its airspace en route to Armenia, reports Armenian publication Hetq. The publication states that the plane had departed from Liège, Belgium, and, after flying through the airspace of several European countries, was supposed to enter Turkish airspace from Bulgaria. However, without receiving…

(Reuters) – Similac baby formula maker Abbott is expected to face a trial on Monday over claims that its formula for preterm infants used in neonatal intensive care units causes a potentially deadly bowel disease, the second trial out of hundreds of similar lawsuits in the United States. Lawyers for the company and for Illinois resident Margo Gill will make…

CAIRO (Reuters) – Saudi Arabia’s king and crown prince congratulated Masoud Pezeshkian on his election as Iran’s president, state news agency SPA reported on Saturday. “I affirm my keenness on developing and deepening the relations between our countries and people and serve our mutual interests,” SPA quoted Saudi Crown Prince Mohammed bin Salman as saying. In March 2023, Iran and…

WASHINGTON, July 6. /TASS/. The US administration views Moscow’s cooperation with Beijing which Washington alleges has supported Russia’s defense industry as a long-term challenge for security in Europe. Speaking at a special press briefing in the run-up to NATO’s summit in Washington on July 9-11, a senior US official said that the summit communique would have “strong language” on China….

BRUSSELS, June 24. /TASS/. At a regular meeting of the EU Council foreign ministers of 27 EU countries approved the decision to transfer 1.4 billion euros of profits from Russia’s frozen assets to the European Peace Facility for military assistance to Ukraine, EU foreign affairs chief Josep Borrell told a press conference following the results of the meeting. “The ministers…

BRUSSELS (AP) — The European Union on Monday slapped new sanctions on Russia over its war on Ukraine, targeting Moscow’s shadow fleet of tankers moving liquefied natural gas through Europe as well as several companies. At a meeting in Luxembourg, where the sanctions were endorsed, EU foreign ministers also agreed on new financial support to help Ukraine defend itself. Some…

BEIJING (AP) — China said Friday it has banned a number of business units of American aviation manufacturer Lockheed Martin Corp. and three of its executives over arms deals the company has signed with Taiwan, the self-ruling island it claims as its own territory. The statement from China’s Foreign Ministry said the company’s cooperation with Taiwan had violated the country’s…

WASHINGTON – The US Treasury on June 20 said no major trading partner appeared to have manipulated its currency in 2023, but it added Japan to a foreign exchange “monitoring list”, alongside Singapore, China, Malaysia, Vietnam, Taiwan and Germany, which were on the previous list. The Treasury’s semi-annual currency report found that none of the countries examined met all three…

MOSCOW (Reuters) -Russia-China trade options have narrowed since the U.S. imposed sanctions last week on the only Russian bank branch in China, but President Vladimir Putin’s Chinese visit last month has helped ensure the two countries have payment alternatives for now, three sources said. Since Putin’s visit, specially authorised banks have been set up in border regions which allow Russian…

USS Helena, a Los Angeles-class boat, arrived on Thursday for a “routine port visit,” the US Southern Command said in a statement.  “The vessel’s location and transit were previously planned,” SOUTHCOM added, noting that the Helena is “conducting its global maritime security and national defense mission.” AP described the submarine’s arrival as “a show of force” by Washington, in response…

Washington is “extremely hypocritical” for arming Kiev while pushing for peace, Beijing’s foreign ministry has said. The US is using the Ukraine crisis as an opportunity to impose sanctions while continuing to pump Kiev with weapons, Chinese Foreign Ministry spokesman Lin Jian said on Thursday. Lin made the remarks after the US State Department and Treasury Department announced a new…

The envoy made the statement during an address dedicated to Russia Day, which was celebrated on Wednesday. Earlier the same day, Washington announced more restrictions on Moscow over its military operation against Ukraine. “The US administration congratulated the Russian people with the announcement of yet another sanctions package,” Antonov said. Russia will not insist on being a US partner, but…

Johnson & Johnson has agreed to pay $700m to settle lawsuits in the United States that accused the pharmaceutical giant of deceiving customers about the safety of its talcum-based powder products. J&J’s payout resolves an investigation by more than 40 US states into the marketing of baby powder and other talc-based products that contained traces of cancer-causing asbestos. “Targeting communities…