German lawmakers have passed a controversial law under which Facebook, Twitter, and other social media companies could face fines of up to €50 million ($57 million) for failing to remove hate speech. The Network Enforcement Act, commonly referred to as the “Facebook law,” was passed by the Bundestag, Germany’s parliamentary body, on Friday. It will […]
Read moreClosely followed trader Art Cashin warned on Friday that Wall Street could witness a “major shudder” if President Donald Trump imposes a tariff on steel. “I think people would worry about trade wars and where we are going from there,” UBS’ director of floor operations at the New York Stock Exchange said on CNBC’s “Squawk […]
Read moreCurrency, United States Finance
Several UK banks stop selling Qatar riyals as diplomatic crisis mounts
Several British banks said on Friday they had stopped dealing in Qatari riyals, as the diplomatic crisis surrounding the tiny Gulf country disrupted overseas trading of its currency. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed diplomatic and travel links with Qatar on June 5, accusing it of supporting terrorism and courting regional […]
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Blue Apron shares slipped below their IPO price Friday, a shaky start for the meal-kit delivery company. The stock sank as much as 4.5 percent amid growing concerns over the impact of tech giant Amazon‘s pending acquisition of Whole Foods Market and if Blue Apron would be able to cut marketing costs and retain customers. […]
Read moreA decade ago, in 2007, then roommates Brian Chesky and Joe Gebbia rented air beds to three guests in their apartment on Rausch Street in San Francisco, because a local design conference had booked up all the rooms in local hotels. The cash the roommates made went toward rent. Now, in 2017, the accommodations-rental platform […]
Read moreLoup Ventures’ Gene Munster says conventional cars will soon be viewed as “horses” compared with Teslas. The closely followed venture capitalist spoke in a CNBC interview Friday after the electric-car maker’s CEO, Elon Musk, teased that he would make an announcement about the release date for the highly anticipated Model 3 car. Tweet 1 Musk […]
Read moreA “state actor” was behind the cyberattack that hit over 12,000 devices in around 65 countries on Tuesday hitting major industries from advertising to oil, according to NATO. The “Petya” ransomware attack encrypted files on a computer and demanded $300 worth of the cryptocurrency bitcoin in order to unlock them. Kaspersky Lab estimates at least […]
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Philippines President Rodrigo Duterte begins his second year in office on Saturday as a hugely popular leader, after taking Filipino’s on a promised “rough ride” during his first 12 months in power. The former mayor has been heavily criticized for a number of foreign policy U-turns, his confrontational style and, most notably, his administration’s unprecedented […]
Read moreAs U.S. officials investigated in January the FSB’s alleged role in election cyberattacks, U.S. technology firms were quietly lobbying the government to soften a ban on dealing with the Russian spy agency, people with direct knowledge of the effort told Reuters. New U.S. sanctions put in place by former President Barack Obama last December – […]
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BUSINESS travellers, you can rest easy. Or, rather, you can forget about resting easy and continue to work through your flight. The anticipated expansion of a ban on laptops and other portable electronics devices in carry-on bags on flights to America is not coming to pass. Instead, you might be facing longer lines in airports […]
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