By Hannah Lang (Reuters) – Certain banks working with FTX founder Sam Bankman-Fried’s trading firm Alameda Research raised questions about the firm’s wire activity as early as 2020, according to a report released by FTX on Monday. Some banks began rejecting wires to or from Alameda the same year that the cryptocurrency exchange scrambled to…
By David Shepardson WASHINGTON (Reuters) -U.S. Federal Trade Commission Chair Lina Khan is set to testify on July 13 before the House Judiciary Committee led by Republicans who have sharply criticized her leadership of the antitrust enforcement agency, the committee and commission confirmed on Friday. This will be her first appearance before the committee since…
By A. Ananthalakshmi KUALA LUMPUR (Reuters) -Malaysia said on Friday it will take legal action against Facebook parent Meta Platforms for failing to remove “undesirable” posts, the strongest measure the country has taken to date over such content. Prime Minister Anwar Ibrahim’s administration has vowed to curb what it calls provocative posts that touch on…
WASHINGTON (Reuters) – The U.S. Supreme Court on Monday declined to hear a bid by Apple Inc and Broadcom Inc to revive their challenges to Caltech data-transmission patents in a patent infringement case in which the university’s earlier $1.1 billion jury verdict against the companies was thrown out. The justices turned away an appeal by…
By Aniruddha Ghosh (Reuters) -A blistering rally in Tesla Inc shares has powered the EV maker’s market value toward trillion-dollar levels, prompting some analysts to question its valuation and downgrade the stock. Goldman Sachs on Monday cut Tesla to “hold” equivalent rating, joining Morgan Stanley and Barclays, which downgraded the stock last week. The brokerages,…
(Reuters) – Amazon.com’s cloud computing division would invest $7.8 billion through 2030 in Ohio to expand its data center operations, it said on Monday. The e-commerce giant, which has invested $6.3 billion in the state since 2015, has been increasing its spending to meet a rise in demand for cloud services from corporate and government…
(Reuters) – Nobel laureate John Goodenough, a pioneer in the development of lithium-ion batteries that today power millions of electric vehicles around the globe, died on Sunday just a month short of his 101st birthday. The American was “was a leader at the cutting edge of scientific research throughout the many decades of his career,”…
(Reuters) – Meta Platforms on Monday launched Meta Quest+, a subscription-based service for its virtual reality (VR) headsets to shape a nascent but high-investment market. Chief Executive Mark Zuckerberg, in a broadcast channel on social media app Instagram, said the Meta Quest+ subscription will be available from Monday at $7.99 per month, or $59.99 annually,…
By Blake Brittain WASHINGTON (Reuters) -The U.S. Supreme Court on Monday declined to hear a bid by website Genius to revive its lawsuit accusing Alphabet’s Google of misusing its transcripts of song lyrics in search engine results without a license. The justices turned away an appeal by Genius of a lower court’s decision blocking its…
By Samrhitha A (Reuters) – Meta Platforms plans to cut off access to news on Facebook and Instagram for all users in Canada once a new law requiring internet giants to pay news publishers takes effect, arguing news has no economic value to the company and that its users do not use the platform for…
