Meta’s answer to Twitter, Threads, launched worldwide this week with the exception of EU member countries. The new Instagram-linked app, which is now available in 100 countries, so far has no plans to launch in the EU, likely due to privacy regulations in the bloc. There are obviously very strong concerns over the processing of data…
Threads’ Piracy Issues and Why Meta’s New App Can’t Launch in Europe
July 11, 2023
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Google Ordered to Reveal IP Details of Anonymous Email Sender
July 11, 2023
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Tech giant Google has been ordered to hand over the IP address and details of a person accused of emailing defamatory allegations about a Labor election candidate in Australia. On Nov. 9 last year, during the Victorian state election, an individual sent an email (from the address: davidjonesaus18@gmail.com) about Nurul Khan to ministers and news…
Samsung Fights Back Against Beijing’s Tech Theft, Sues Chinese Firm BOE Over Patent Infringement
July 11, 2023
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Amid escalating tension between South Korea and China, Samsung has drawn attention by pulling out of the Shanghai Mobile World Congress for the first time in six years and initiating its maiden patent lawsuit against Chinese company BOE. The moves come in the wake of repeated allegations of technology theft by China against Samsung’s technology. Samsung…
California’s Unemployment Insurance Trust Fund Is Now ‘Structurally Insolvent’ Under Weight of Pandemic Loans
July 11, 2023
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California’s Unemployment Insurance (UI) Trust Fund that pays out state benefits is now “structurally insolvent,” according to a recent report. The Legislative Analyst’s Office noted the debt crisis involving the California Employment Development Department’s (EDD) UI trust fund on July 7. The state report was released following last week’s “May Fund Forecast” report by the EDD. It said…
Trade Group Calls on Congress to Rein in ESG ‘Onslaught’
A trade group representing some 14,000 small and large manufacturers has issued a scorching criticism of recent regulatory moves tightening environmental, social, and governance (ESG) rules while calling on Congress to fight the Securities and Exchange Commission’s (SEC) “regulatory onslaught.” As the House Financial Services Committee prepares to conduct a series of hearings on ESG…
Coke Invests $70 Million in New Calgary Facility; Candy Can Soft Drink Competitor Launches in Canada
Coca-Cola is building a new $70-million facility in northeast Calgary, and Premier Danielle Smith took advantage of the news to remind businesses that Alberta is “Canada’s lowest tax jurisdiction.” In a July 10 social media post, Ms. Smith thanked Coca-Cola Canada Bottling Limited (Coke) for the “vote of confidence.” “Alberta is Canada’s lowest tax jurisdiction,…
Stock Market Today: Wall Street Ticks Higher Ahead of Updates on Inflation, Profits
NEW YORK—Stocks ticked higher on Wall Street Monday ahead of a week with updates on where inflation and corporate profits are heading. The S&P 500 rose 10.58, or 0.2 percent, to 4,409.53, coming off just its second losing week in the last eight. The Dow Jones Industrial Average climbed 209.52, or 0.6 percent, to 33,944.40,…
Closing Prices for Crude Oil, Gold, and Other Commodities (July 10)
July 10, 2023
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Benchmark U.S. crude oil for August delivery fell 87 cents to $72.99 a barrel Monday. Brent crude for September delivery fell 78 cents to $77.69 a barrel. Wholesale gasoline for August delivery fell 2 cents $2.57 a gallon. August heating oil fell 1 cent to $2.55 a gallon. August natural gas rose 9 cents to…
How Major US Stock Indexes Fared July 10
Stocks drifted higher on Wall Street ahead of a week with updates on where inflation and corporate profits are heading. The S&P 500 rose 0.2 percent Monday, coming off just its second losing week in the last eight. The Dow added 0.6 percent and the Nasdaq rose 0.2 percent. This week will offer the latest…
Fox News Downgraded by Major Wall Street Bank Over Viewership Issues
A top financial services company downgraded Fox Corporation’s stock on Monday, noting issues with the network’s viewership, earnings, and content. An analyst with Wells Fargo downgraded shares of Fox Corp. from “equal weight” to “underweight,” lowering the price target from $35 per share to $31 per share, according to multiple reports on Monday. “Fox News…
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