WASHINGTON—U.S. Treasury Secretary Janet Yellen told International Monetary Fund Managing Director Kristalina Georgieva on Monday that a law firm’s report into World Bank data-rigging allegations against the IMF chief “raised legitimate issues and concerns” but a lack of direct evidence meant a leadership change was unwarranted. Yellen said in the statement that “proactive steps must…
Yellen Tells IMF’s Georgieva Data-Rigging Probe Raised ‘Legitimate’ Concerns: Treasury
Stocks Slip but Heading for Weekly Gain Ahead of US Jobs Data
LONDON—European shares slipped on Friday but held most of the previous session’s gains as investors welcomed the U.S. Senate’s temporary lifting of the debt ceiling and awaited crucial jobs data due later in the session. The rally on Thursday has lifted global stock indexes into positive territory for the week, despite widespread selling initially as…
Data Isn’t Important, but How You Consume It Is
By Robert Finlay For more than two decades, corporate executives and business owners have been obsessed over capturing as much data as possible, from clients, employees, suppliers, developers, and other relevant sources. Due to the relatively modest volume of data created at the time, whoever held the most data had the greatest competitive advantage. But…
Cryptocurrencies Post Inflows for 7 Straight Weeks, Led by Bitcoin: CoinShares Data
NEW YORK—Cryptocurrency investment products and funds recorded inflows for a seventh straight week, as institutional investors warmed to more supportive statements from regulators, data from digital asset manager CoinShares showed on Monday. Inflows to the sector were $90.2 million last week, led by bitcoin which snagged $69 million, according to CoinShares data as of Oct….
Amazon’s Cloud Unit to Create Data Centers, 1,000 Jobs in New Zealand
Amazon.com Inc.’s cloud computing unit said on Wednesday it will launch data centers in New Zealand in 2024 and create about 1,000 jobs in the country over 15 years. After releasing an economic impact study, Amazon Web Services (AWS) said it plans to invest NZ$7.5 billion ($5.25 billion) in its new infrastructure hub—AWS Asia Pacific…
Polish Gene Project Moves to Drop Chinese Tech Over Data Concerns
WARSAW—A European Union-funded project to build a genomic map of Poland plans to drop gene-sequencing technology from China’s BGI Group over concerns about data security, one of the project’s leaders told Reuters. The Genomic Map of Poland’s concerns stem from questions over how Polish genomic data may be used that relate to national security, said…
Tesla to Work With Global Regulators on Data Security: Musk
SHANGHAI—Electric vehicle maker Tesla Inc. will work with global regulators to ensure data security, Chief Executive Elon Musk told an industry event in China on Friday. Tesla, which assembles vehicles for the Chinese market in Shanghai, has been under scrutiny in China this year over its storage and handling of customer data. Cars are being…
World Shares Advance on Mixed Economic Data
World shares were mostly higher on Friday as investors assessed a hodge-podge of economic data. Benchmarks rose in Frankfurt, Paris, Tokyo and Hong Kong but fell in Sydney. U.S. futures edged higher, while the yield on the 10-year Treasury note was steady at 1.33 percent. Oil prices retreated from their surge earlier in the week….
S&P Ends Modestly Lower as Rising Treasury Yields Offset Robust Retail Data
NEW YORK— The S&P 500 ended slightly down on Thursday, paring losses in late trading after unexpectedly strong retail sales data underscored the strength of the U.S. economic recovery. The three major indexes spent much of the day in negative territory as rising U.S. Treasury yields pressured market-leading tech stocks, and the rising dollar weighed on…
China’s Industry Ministry Urges Companies to Strengthen Data Control on Connected Vehicles
The Chinese Communist Party’s (CCP’s) industry ministry published a notice on Thursday urging companies to ensure the security of data generated by connected vehicles, saying that security risks in the industry had become increasingly prominent. Connected cars with moving networks, also known as the “internet of cars,” allow bi-directional communications between vehicles and help drivers navigate the roads….
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