By David Shepardson WASHINGTON (Reuters) -TikTok’s chief executive will tell lawmakers the Chinese-owned short video app with more than 150 million American users has never, and would never, share U.S. user data with the Chinese government amid growing U.S. national security concerns. “TikTok has never shared, or received a request to share, U.S. user data…
MELBOURNE (Reuters) – Australia’s revenue potential from developing a battery industry has doubled to A$16.9 billion ($11.28 billion) by 2030 in less than two years, highlighting the speed of the sector’s expansion and the need to act quickly, an Accenture report showed on Wednesday. Australia’s battery industry is poised to become a global leader given…
By Ankur Banerjee SINGAPORE (Reuters) – The dollar was pinned near five-week lows on Wednesday ahead of the conclusion of the U.S. Federal Reserve’s policy meeting, with investors awaiting clarity on the path the central bank is likely to take in the wake of global banking turmoil. Investor attention is zeroed in on whether the…
HONG KONG (Reuters) – Asian lenders may find it difficult to replenish their capital by issuing Additional Tier-1 (AT1) bonds, Citigroup said in a research note on Wednesday, after the Swiss authorities’ move to wipe out Credit Suisse bonds as part of its takeover deal. The challenge will be particularly acute for a large number…
By David Shepardson WASHINGTON (Reuters) -Chinese-owned short video app TikTok faces a “pivotal moment” as a growing number of U.S. lawmakers seek to ban the popular app over national security concerns, CEO Shou Zi Chew said. Chew said in a video posted on TikTok early on Tuesday that the app now has more than 150…
By Ananya Mariam Rajesh (Reuters) -Nike raised its full-year revenue outlook on Tuesday after reporting quarterly results that beat estimates, but warned of margin pressures as it continues to get rid of excess inventory through heavy discounts. The company saw strong demand for its sneakers, including classic styles such as Jordan Retro and newer franchise…
By Blake Brittain (Reuters) -A Utah federal judge on Tuesday overturned a jury’s verdict that Dish Network LLC must pay $469 million to parental-control technology maker ClearPlay Inc for infringing two patents related to filtering material from streaming video. U.S. District Judge David Nuffer reversed the jury’s finding that Dish’s AutoHop commercial-skipping feature violated ClearPlay’s…
By Lisa Pauline Mattackal and Medha Singh (Reuters) – As crisis stalks the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven. The infamously volatile cryptocurrency seems positively hale and hearty, just as a banking meltdown drives markets into the arms of a recession. Bitcoin has risen 21% this…
By Hannah Lang and Pete Schroeder (Reuters) – In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank failure, to protect both consumers and the broader financial system. With the collapse of Silicon Valley Bank and Signature Bank and the U.S….
(Reuters) -Nike Inc beat estimates for third-quarter revenue and profit on Tuesday, boosted by strong demand for its sneakers as consumers snapped up newer franchise launches and classic styles such as Jordan Retro in North America and Europe. The company has benefited from higher sales of its franchises such as LeBron helping grow its market…
