FTX sues ex-Clinton aide’s investment firm for $700 million

FTX sues ex-Clinton aide’s investment firm for 0 million

NEW YORK, June 22 (Reuters) – (This story from June 22 has been reposted to correct spelling of “Hillary” in paragraph 1) Bankrupt crypto exchange FTX on Thursday sued a former aide to Hillary Clinton and the former aide’s investment firm, seeking to recover $700 million in investments allegedly made with embezzled FTX funds. FTX … Read more

Amazon tricked millions of consumers into signing up for Prime, US FTC says

Amazon tricked millions of consumers into signing up for Prime, US FTC says

WASHINGTON, June 21 (Reuters) – The U.S. Federal Trade Commission on Wednesday accused Amazon.com (AMZN.O) of signing up millions of consumers to its paid subscription service Amazon Prime without their consent and of making difficult to cancel them, the agency said. latest action against the e-commerce giant in recent weeks. The FTC sued Amazon in … Read more

Hyundai raises EV investment to $28 billion to scale back China operations

Hyundai raises EV investment to  billion to scale back China operations

Raises EV sales target by 2030 to 2 million units from 1.87 million Use LFP batteries for the first time from around 2025 Sell ​​two factories in China, rationalize the other two factories SEOUL, June 20 (Reuters) – Hyundai Motor will increase its average annual investment in electrification by almost two-thirds to $28 billion over … Read more

Alibaba CEO and Chairman Zhang resigns to focus on cloud

Alibaba CEO and Chairman Zhang resigns to focus on cloud

The executive reshuffle comes after the Chinese tech giant’s restructuring Zhang will fully focus on the cloud unit Joseph Tsai succeeds Zhang as chairman of Alibaba Group Alibaba aims to complete list of cloud units within a year SHANGHAI, June 20 (Reuters) – Alibaba Group (9988.HK) said on Tuesday its CEO and chairman Daniel Zhang … Read more

Inside China’s underground high-end Nvidia AI chip market

Inside China’s underground high-end Nvidia AI chip market

HONG KONG/SHENZHEN, China, June 20 (Reuters) – Psst! Where can a Chinese buyer buy Nvidia (NVDA.O) high-end AI chips following US sanctions? Visiting the famous Huaqiangbei electronics district in the city of Shenzhen, southern China, is a good bet – in particular, the skyscraper SEG Plaza whose first 10 floors are full of shops selling … Read more

Berlin, Intel reach chip factory deal after months of subsidy talks

Berlin, Intel reach chip factory deal after months of subsidy talks

Intel to receive 10 billion euros in subsidies from Germany – source Decision highlights Berlin’s efforts to attract foreign investment Intel shares -0.7% in Frankfurt BERLIN/STOCKHOLM, June 19 (Reuters) – Germany will give U.S. chipmaker Intel 10 billion euros ($10.91 billion) in subsidies for its planned plant in Magdeburg, a source familiar with the matter … Read more

U.S. subsidiary of crypto giant Binance lays off staff after SEC charges

U.S. subsidiary of crypto giant Binance lays off staff after SEC charges

LONDON, June 15 (Reuters) – The U.S. subsidiary of crypto giant Binance has made a series of layoffs since regulators accused it last week of breaking securities laws and sought to freeze its assets, said two people with knowledge of the layoffs and employees. social media posts. One of the sources said around 50 people … Read more

Google faces EU severance order over anti-competitive adtech practices

Google faces EU severance order over anti-competitive adtech practices

BRUSSELS, June 14 (Reuters) – Alphabet (GOOGL.O) Google may have to sell off part of its lucrative ad-tech business to address antitrust concerns, EU regulators said on Wednesday, threatening the company of its most severe regulatory sanction to date. . The European Commission laid out its charges in a statement of objections to Google two … Read more

US judge temporarily blocks Microsoft’s acquisition of Activision

US judge temporarily blocks Microsoft’s acquisition of Activision

WASHINGTON, June 13 (Reuters) – A U.S. judge granted a Federal Trade Commission (FTC) request on Tuesday evening to temporarily block Microsoft Corp’s (MSFT.O) acquisition of video game maker Activision Blizzard (ATVI. O) and schedule a hearing next week. U.S. District Judge Edward Davila has scheduled a two-day hearing on the FTC’s request for a … Read more

Shell raises dividend and stabilizes oil production in new CEO plan

Shell raises dividend and stabilizes oil production in new CEO plan

Shell to keep oil production stable The company will develop its gas and LNG activities Reduced capital expenditures for 2024-2025 LONDON, June 14 (Reuters) – Shell (SHEL.L) will increase its dividends and share buybacks while keeping oil production stable until 2030, it said on Wednesday, as CEO Wael Sawan was struggling to regain investor confidence … Read more