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European regulator Thierry Breton shared a stern letter to TikTok CEO Shou Zi Chew on Thursday, urging the platform to step up its efforts to remove graphic content and misinformation about the Israel-Hamas war. TikTok is responsible for monitoring misinformation and illegal content under the European Union’s Digital Services Act, and Breton asked Chew to respond within 24 hours. Breton has sent similar letters to Elon Musk and Mark Zuckerberg this week. European regulator Thierry Breton shared a stern letter to TikTok CEO Shou Zi Chew on Thursday, claiming his office has “indications” that the platform is being used to…
Paolo Ardoino, the chief technology officer for Tether, has been promoted to CEO of the stablecoin company, in a surprise move. Ardoino will take the reins from Jean-Louis van der Velde, a secretive crypto executive and entrepreneur, who has for years been the company’s boss. In a press release Friday, Tether said that Ardoino will lead Tether from December 2023, succeeding van der Velde. Van der Velde will take up a new advisory role at Tether while still holding the position of CEO at Bitfinex, a crypto exchange that is closely associated with Tether and operated by the same Hong…
NEW YORK, US – SEPTEMBER 17: Elon Musk arrives at the Turkish House to meet with Turkish President Recep Tayyip Erdogan ahead of the 78th session of the United Nations (UN) General Assembly in New York, United States on September 17, 2023. (Photo by Fatih Aktas/Anadolu Agency via Getty Images) Anadolu Agency | Anadolu Agency | Getty Images Elon Musk’s X broke the law in firing an employee who criticized management’s return-to-work policy, the National Labor Relations Board alleged, in its first formal complaint against the company formally known as Twitter. The NLRB’s “Region 20” San Francisco branch on Friday claimed that X…
Pfizer slashed its full-year earnings and revenue guidance Friday as it sees demand for its Covid treatment and vaccine wane. Shares dropped in extended trading. The rollout of Pfizer’s latest Covid booster has been rocky, and prior vaccination and infection has made cases milder than before for many people. In this article Pfizer CEO Albert Bourla talks during a press conference with European Commission President after a visit to oversee the production of the Pfizer-BioNtech Covid-19 vaccine at the factory of US pharmaceutical company Pfizer, in Puurs, on April 23, 2021. Pfizer CEO Albert Bourla talks during a press conference…
UK: Services output was the main contributor to growth in August, adding 0.4% on the month to offset a fall in production output of 0.7% and a decline in construction output by 0.5%. “While this data point is not yet consistent with a build-up of slack in the U.K. economy, it must be looked in the totality of the data, which shows early signs of a cooldown in the labour market and thus, lower inflation down the road,” said Mathieu Savary, chief European strategist at BCA Research. One Canada Square, at the heart of Canary Wharf financial district seen standing…
Sophie After 30 years, I had to move – and I found myself plunged into a dog-eat-dog battle to find a home This article is part of the heat or eat diaries: a series from the frontline of Britain’s cost of living emergency After 30 years at my old flat, I’ve moved and it is wonderful. My old flat is where I brought my two children up and I do have happy memories of it, but it was also somewhere I felt trapped. It hadn’t been updated while I was there – when an estate agent came round to look…
SPI reading increases 0.30% compared to prior week KARACHI:The weekly inflation reading, measured by the Sensitive Price Indicator (SPI), increased by 0.30% in the wake of higher prices of food and energy in the week ended October 12, 2023 compared to the prior week. Pakistan Bureau of Statistics (PBS) reported on Friday that the index spiked 38.28% when compared with the corresponding week of last year. Out of the 51 essential commodities covered by SPI, prices of 17 (33.33%) items increased, rates of another 17 decreased and prices of the remaining 17 items remained unchanged compared to the previous week.…
Farmers reject FCA production estimates, saying they do not depict true picture KARACHI:While reacting to the Federal Committee on Agriculture (FCA)’s production estimates for different crops, grower bodies and progressive farmers have expressed concerns over the “exaggerated” targets, rejecting claims and calling for payment of prices set by the government. In a recent meeting held in Islamabad, the FCA projected that wheat production could hit 32.12 million tons over an area of 8.9 million hectares and it also fixed targets of minor crops including gram, potato, onion and tomato at 410, 6,330, 2,494 and 666 thousand tons respectively. The committee…
Fawad says country could not increase exports by putting together SEZs ISLAMABAD:Pakistan has failed to realise even one-fifth of the China-Pakistan Economic Corridor (CPEC) potential and the country’s biggest failure is its inability to increase exports, which is required to finance debt and investment-related obligations, said Privatisation Minister Fawad Hasan Fawad on Thursday. Fawad, who was Pakistan’s focal person on CPEC affairs during the peak of the multibillion-dollar initiative, gave a candid but soul-searching speech at the KTrade event. The event was arranged to look back at first 10 years of CPEC. “We failed to realise even one-fifth of the…
Economist believes currency will maintain winning streak in short run, reach 260-265/$ KARACHI:Pakistani currency, which began its ascend with the crackdown on smugglers and gradual economic recovery, on Friday created history by maintaining its winning streak for 27 consecutive working days for the first time in three years. It hit over three-month high below Rs278 against the US dollar in inter-bank market. Talking to The Express Tribune, Arif Habib Limited Economist Sana Tawfik projected that the rupee would maintain the winning streak in the short run, going up to Rs260-265 against the greenback. It, however, may return to the downward…