By Foo Yun Chee and Padraic Halpin (Reuters) – Meta Platforms Inc is set to face a record European Union privacy fine related to data transfer of Facebook’s EU users to U.S. servers for failing to comply with a warning by a top EU court, two sources familiar with the matter said. The penalty will…
By Lucia Mutikani WASHINGTON (Reuters) – Permits for future U.S. single-family homebuilding jumped to a seven-month high in April, giving the struggling housing market a boost, but tightening credit conditions could make it difficult for builders to get finance for new projects. The third straight monthly increase in single-family building permits, which was reported by…
By Dietrich Knauth NEW YORK (Reuters) – A lawyer for Celsius Network on Wednesday said the crypto lender hopes to conclude an auction for its assets within days and the current lead bidder is Fahrenheit LLC, a consortium that includes blockchain-based venture capital firm Arrington Capital, at a U.S. bankruptcy court hearing in Manhattan. Celsius…
WASHINGTON (Reuters) – House Speaker Kevin McCarthy said on Wednesday that a deal to raise the U.S. debt ceiling limit was “do-able” by Sunday, the day President Joe Biden said he intended on holding a news conference on the issue. (Reporting by David Morgan; Writing by Doina Chiacu; Editing by Tim Ahmann)
By Sakura Murakami HIROSHIMA, Japan (Reuters) – The last time a U.S. president visited Hiroshima, atomic bomb survivor Shigeaki Mori was filled with hope for a future without nuclear weapons. Seven years later, he’s more sceptical. As leaders of the Group of Seven (G7) nations gather in the Japanese city this week for a summit,…
By Miranda Murray CANNES (Reuters) – Independent film companies facing a market upended by the entry of streaming services are showing some optimism heading into this year’s Cannes Film Festival as the Netflix era has begun flattening out and audiences start trickling back into cinemas post-pandemic. While buyers are being cautious about purchasing volumes amid…
By Rodrigo Campos NEW YORK (Reuters) – A measure of debt across the globe rose in the first quarter to almost $305 trillion, and the rising cost to service that debt is triggering concern about the financial system’s leverage, a widely tracked study showed. The Institute of International Finance, a financial services trade group, said…
KYIV (Reuters) – Ukraine denied on Wednesday that a Russian hypersonic missile had destroyed a U.S.-made Patriot missile defence system during an air strike on Kyiv. Russia’s defence ministry made the assertion on Tuesday after an overnight air attack on the Ukrainian capital. Two U.S. officials later said a Patriot system had probably suffered damage…
By Josh Ye HONG KONG (Reuters) -Chinese internet giant Tencent Holdings is cutting prices for cloud services by up to 40% from June amid similar moves from rivals that have plunged the sector into a price war. The fierce competition comes amid soft corporate demand, with the Chinese economy in the midst of a wobbly…
By Aziz El Yaakoubi RIYADH(Reuters) – Syrian President Bashar al-Assad, a pariah for more than a decade, is expected to steal the spotlight at Friday’s Arab League summit in Saudi Arabia, where he will rub shoulders with regional leaders who once backed his war foes. Ostracised by most Arab states following his crackdown on protests…
