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25/08/2024

Telegram CEO, Pavel Durov, arrested in France

Russian-French billionaire founder and CEO of the Telegram messaging app, Pavel Durov, was reportedly arrested at Bourget airport outside Paris on Saturday evening, August 24.

TF1 TV reports that the 39-year-old was travelling aboard his private jet, when he was arrested at about 8pm local time (6pm GMT)l

According to the report posted on their website, Durov had been targeted by an arrest warrant in France as part of a preliminary police investigation. He is expected to appear in court on Sunday.

TF1 said the investigation was focused on a lack of moderators on Telegram, and that police considered that this situation allowed criminal activity to go on undeterred on the messaging app.

The encrypted Telegram, with close to one billion users, is particularly influential in Russia, Ukraine and the republics of the former Soviet Union. It is ranked as one of the major social media platforms after Facebook, YouTube, WhatsApp, Instagram, TikTok and Wechat.

The Russia-born entrepreneur lives in Dubai, where Telegram is based, and holds dual citizenship of France and the United Arab Emirates.

Durov, who is estimated by Forbes to have a fortune of $15.5bn (£12bn), left Russia in 2014 after he refused to comply with demands to shut down opposition communities on his VK social media platform, which he sold.

14/08/2024

🚨BREAKING🌎🤒: World Health Organization (WHO) has declared a global health emergency in response to the Mpox outbreak, previously known as monkeypox, now affecting 13 African countries including the DRC, which reports 14,000 cases and 524 deaths.

This is the second time in three years that Mpox has been elevated to emergency status.

05/08/2024

The first Monday in August has plunged the U.S. stock market into turmoil, erasing over $1.93 trillion from the S&P 500 as markets opened.

This dramatic downturn is driven by intensifying fears of a recession, exacerbated by disappointing corporate earnings and high inflation, which have kept interest rates at a 23-year peak.

Adding to the chaos, the Federal Reserve is now under pressure to potentially cut interest rates before its September meeting, a move that could stabilize the market but also signal deeper economic concerns. This financial turbulence is mirrored in the cryptocurrency market, which has experienced massive negatives.

09/07/2024

Iran on Friday elected its first “reformist” president in 20 years, signaling many voters’ rejection of hardline conservative policies amid low turnout of just 49%, according to official figures.

Masoud Pezeshkian, a former health minister and member of parliament, was the most moderate of the candidates vying for the presidency after the sudden death of former President Ibrahim Raisi in a helicopter crash in May.

Described as a “token reformist” and “second-tier candidate” by many analysts, the 69-year-old Pezeshkian, a former heart surgeon, was seen as having scant chance at the presidency.

09/07/2024

For weeks now, Germany’s government has been selling hundreds of millions of dollars worth of bitcoin — and it’s been a key factor behind the cryptocurrency’s intense selloff.

Police in the eastern German state of Saxony seized close to 50,000 bitcoins in mid-January, worth about $2.2 billion at the time of the seizure. Even after a raft of sales in recent weeks, Germany’s Federal Criminal Police Office still holds roughly 32,488 bitcoins — worth around $1.9 billion at today’s prices.

11/06/2024

Japan's capital Tokyo will launch its own dating app as part of government efforts to boost the plunging national birth rate. A Tokyo official said the app will launch as early as this summer, with users to be required to submit documentation proving they are legally single and sign a letter stating they are willing to get married.

"We learned that 70% of people who want to get married aren't actively joining events or apps to look for a partner," a Tokyo government official in charge of the new app said. "We want to give them a gentle push to find one."

10/06/2024

The sport’s new regulations suggest that car makers are not pinning all their hopes on electrification.

In 2026, F1 cars will be powered by hybrid engines with a 50:50 split between electric-power and internal combustion.

Crucially, the combustion engine will be powered by synthetic e-fuels.

10/06/2024

Shares of Japanese automakers have largely plunged since the country’s Transport Ministry found false data used to certify certain models a week ago on Monday.

The stock of Japan’s largest carmaker, Toyota, fell more than 5.4% last week, after the scandal broke on June 3, but is recovering on Monday. The automaker lost 2.45 trillion Japanese yen ($15.62 billion) in market value last week alone.

Shares of Mazda, the country’s second-largest automaker, dropped 7.7% in the same period, and lost 80.33 billion yen in market capitalization last week.

10/06/2024

The U.S. far outpaced the rest of the world in minting millionaires last year, adding 500,000 new millionaires and powering record fortunes at the top, according to a new study by Capgemini.

The stock rebound at the end of 2023 combined with trillions of dollars in government spending as well as the AI boom continue to power the U.S. wealth machine.

When it comes to their investments, the wealthy are shifting their money from safe, wealth preservation to more aggressive growth assets, according to the report.

10/06/2024

Airbus this week revealed the concept for a new fighter-type drone called the Wingman.

The drone would be an “unmanned es**rt for manned fighter jets,” Airbus said in a statement, noting that it is designed to operate in a similar way to an actual wingman.

The ILA Berlin Air Show is one of the biggest in the world, bringing together startups and industry heavyweights to showcase the latest developments in civilian and military air and space industries.

24/05/2024

China Southern Power Grid Energy Storage inaugurated the Fulling Sodium-ion Battery Energy Storage Station in Nanning, Guangxi, marking a significant milestone in China's energy sector.

Initially boasting a 10 MWh storage capacity, the station has ambitious plans to scale up to 100 MWh.

It showcases cutting-edge 210 Ah sodium-ion battery cells, known for their rapid charging capability, reaching 90% in just 12 minutes across its 22,000 cells.

Once fully operational, the station aims to provide sustainable power to 35,000 households while annually reducing CO2 emissions by an impressive 50,000 tonnes.

17/05/2024

OpenAI has disbanded its team focused on the long-term risks of artificial intelligence, a person familiar with the situation confirmed to CNBC.

The news comes days after both team leaders, OpenAI co-founder Ilya Sutskever and Jan Leike, announced their departures from the Microsoft-backed startup.

OpenAI’s Superalignment team, announced in 2023, has been working to achieve “scientific and technical breakthroughs to steer and control AI systems much smarter than us.”

At the time, OpenAI said it would commit 20% of its computing power to the initiative over four years.

17/05/2024

Shout out to my newest followers! Excited to have you onboard! Prince Cewhy, Isaac Mensah

17/05/2024

Xpeng AeroHT, an affilaite of Xpeng, aims to deliver its flying car to customers in 2026, the Chinese electric vehicle maker’s co-president told CNBC on Friday,

Last year, Xpeng AeroHT introduced the Land Aircraft Carrier — a large truck with a flying two-seater passenger electric drone inside. The flying car can detach from the truck, and people can then get into the drone and fly it.

Brian Gu, co-president of Xpeng, said the vehicle will be available for pre-order this year, adding that the company hopes to deliver the unit in 2026.

13/05/2024

Emirates Airline has awarded its employees a substantial bonus of 20 weeks’ pay after the company recorded strong profits.

The Dubai-based carrier’s generous payout to staff comes following a successful year financially. This sizable bonus payout shows the airline’s commitment to sharing its success with the workforce that enables its achievements.

09/04/2024

IShowSpeed, the 19-year-old streaming sensation, has officially signed with Logan Paul and KSI’s popular beverage brand, Prime!

The young star’s meteoric rise to fame has been nothing short of remarkable, and with this new partnership, IShowSpeed’s influence is set to expand even further, cementing his status as a true icon of the digital age.

Photos:

05/04/2024

McDonald’s signed a deal to purchase all 225 of the restaurants that comprise its Israel franchise, the American fast-food chain announced, following months of dramatically lower sales due to pro-Palestinian boycott action amid the Israel-Hamas war.

The restaurant outlets in Israel have been owned by local licensee Alonyal Limited, which is owned by Israeli businessman Omri Padan, for more than 30 years.

“An agreement to sell Alonyal to McDonald’s Corporation has been signed,” the McDonald’s statement said Thursday. “Upon completion of the transaction, McDonald’s Corporation will own Alonyal Limited’s restaurants and operations, and employees will be retained on equivalent terms.” The company did not disclose the purchase amount.

05/04/2024

BYD plans to launch its first electric pickup truck this year, as the Chinese giant steps up competition with global auto firms, from Ford to Tesla.

The midsize-to-large pickup truck has been developed for the global market, BYD said in a press release.

The pickup truck will add to the company’s line up of vehicles, which starts with the Seagull at 69,800 yuan — or just under $10,000 — all the way up to the 1.68 million yuan U9 supercar.

BYD doesn’t sell in the U.S., the most popular market for pickup trucks, but it has a presence in other popular markets for this type of vehicle, including in Thailand. The pickup will look to compete with the likes of the Ford Ranger and F-150 Lightning, the Toyota Hilux and the Tesla Cybertruck.

05/04/2024

Apple is laying off 614 workers in California, according to a new state filing, the company’s first significant round of job cuts since the Covid pandemic.

The affected Apple employees worked at eight different facilities in Santa Clara, according to the WARN notice posted by California. The workers were officially informed of the cuts on March 28 and the changes are effective May 27, the filing said.

Apple hasn’t been forced into the same kind of downsizing as its tech peers, largely because the iPhone maker grew more slowly than rivals during the pandemic.

The filing comes weeks after Apple canceled a long-running project to build an electric, self-driving car in a team called the Special Projects Group. While the California notice didn’t mention the specific projects where jobs are being cut, none of the locations in the filing are at Apple’s Cupertino headquarters, but at smaller, satellite offices more likely to house secretive initiatives.

02/04/2024

UBS on Tuesday announced a new share repurchase program of up to $2 billion, with up to $1 billion of that total expected to take place this year.

“Our ambition is for share repurchases to exceed our pre-acquisition level by 2026,” it said.

The new program follows the completion of the 2022 buyback, during which 298.5 million of it shares were purchased. This represented 8.62% of its stock worth $5.2 billion, according to UBS. The bank’s 2022 share repurchase program concluded last month.

02/04/2024

Oregon Gov. Tina Kotek, a Democrat, on Monday signed into law a bill that reverses Measure 110, a 2020 law that voters approved to decriminalize most illegal possession of controlled substance offenses and redirect much of the state's ma*****na tax revenue to fund grants for addiction services.

Around 58% of Oregon residents approved the initial measure but since then, addiction and overdose deaths have skyrocketed in Oregon and nationwide as fentanyl swept across the country. In August, 56% of Oregonians said they disapproved of the pioneering drug law and both Republicans and Democrats introduced legislation to roll back the controversial measure.

02/04/2024

Google agreed to destroy billions of data records to settle a lawsuit claiming it secretly tracked the internet use of people who thought they were browsing privately.

Terms of the settlement were filed on Monday in the Oakland, California federal court, and require approval by U.S. District Judge Yvonne Gonzalez Rogers.

Lawyers for the plaintiffs valued the accord at more than $5 billion, and as high as $7.8 billion. Though users will not receive damages, they may still sue individually for damages.

The class action began in 2020, covering millions of Google users who used private browsing since June 1, 2016.

Users alleged that Google’s analytics, cookies and apps let the Alphabet unit improperly track people who set Google’s Chrome browser to “Incognito” mode and other browsers to “private” browsing mode.

Under the settlement, Google will update disclosures about what it collects in “private” browsing, a process it has already begun. It will also let Incognito users block third-party cookies for five years.

“The result is that Google will collect less data from users’ private browsing sessions, and that Google will make less money from the data,” the plaintiffs’ lawyers wrote.

Source : NBC News

02/04/2024

Former NFL cornerback Vontae Davis was found dead in a Florida mansion, police said Monday. He was 35.

Officers were called Monday morning to a residence on the 6000 block of SW 178th Avenue by the house assistant, who discovered Davis' body at the Southwest Ranches' home, the Davie Police Department said in a statement.

"Preliminary information suggests that foul play is not involved," the department said.

Broward County property records indicate the nearly $3 million home is owned by Adaline Davis, identified by NBC South Florida as Davis’ grandmother. Other records indicate Vontae Davis lived at the home.

The Broward County medical examiner's office said Monday afternoon that it is investigating Davis' death.

"There is no further information available pending a full examination, further testing, and studies. It can take up to 90 days to complete the investigation and determine the cause and manner of death," the agency said in a statement.

Source : NBC News

02/04/2024

A billionaire Donald Trump supporter whose California company is known for subprime auto loans offered to arrange the former president’s $175 million appeal bond in New York state’s civil fraud suit, though he said politics had nothing to do with it.

Don Hankey, whose fortune stems from car dealerships, real estate investments and financial services, is chairman of Knight Specialty Insurance Co., which posted Trump’s bond on Monday, three days before a court-imposed deadline. The bond gives Trump a lifeline by putting a $454 million judgment on hold while he appeals.

Hankey said Knight reached out to Trump’s team to offer its services after hearing about the former president’s well-documented trouble arranging a bond, which was initially set at 120% of the judgment, or about $540 million. The appeals court lowered the bond to $175 million after Trump said he didn’t have enough cash.

“I heard they were looking for somebody and this is what Knight insurance does,” Hankey, whose net wealth is estimated at $7.4 billion by Forbes magazine, said in an interview. “We have the liquidity and I’m just happy to provide it.”

Hankey, 80, said his support for Trump had nothing to do with his decision to offer his company’s services to the former president, who is campaigning to return to the White House in the November election.

“Yes, I voted for him in the past, but this is a business deal and this is what we do,” Hankey said. “I have never met Donald Trump nor talked to him on the phone.”

The niche appeal bond industry was thrust into the spotlight earlier this year after Trump lost two civil trials with combined damages of more than half a billion dollars. The court requirement that bonds equal 110% to 120% of a judgment is intended to ensure a trial loser will pay the winner if their appeal fails.

Hankey said that Trump’s lawyers used all cash collateral for the bond, after initially offering 20% cash and 80% investment-grade bonds.

Via: Bloomberg

29/03/2024

Nigeria's central bank on Thursday announced new minimum capital requirements for banks in a bid to enhance banks' resilience and strengthen the country's financial system.

The Central Bank of Nigeria said it is pe***ng the minimum capital base for commercial banks with international authorization at 500 billion naira ($353.32 million).

The central bank said it is also setting a new minimum capital base for commercial banks with national authorization at 200 billion naira, while the new requirement for those with regional authorization will be 50 billion naira.

Source : Reuters

29/03/2024

Stephane Ashpool, the mind behind Pigalle streetwear, has undertaken the massive task of designing 120 items each for 800 French Olympic athletes and support staff, demonstrating a blend of modernity, French heritage, and athlete comfort!

With a focus on domestically made products, Ashpool’s designs feature a gradient blue-white-red color scheme, symbolizing the journey of Olympic athletes, from training to performance, while also incorporating nods to iconic French sports like Judo and cycling.

Photos: le coq sportif

29/03/2024

Chinese smartphone company Xiaomi said Thursday it will sell its first car for far less than Tesla’s Model 3, as price wars heat up in China’s fiercely competitive electric car market.

Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for 215,900 yuan ($30,408) in the country — a price he acknowledged would mean the company was selling each car at a loss.

Tesla’s Model 3 starts at 245,900 yuan in China.

Lei claimed the standard version of the SU7 beat the Model 3 on more than 90% of its specifications, except on two aspects that he said it might take Xiaomi at least three to five years to catch up with Tesla on. He also said the SU7 had a minimum driving range of 700 kilometers (nearly 435 miles) versus the Model 3′s 606 kilometers.

The company said orders had exceeded 50,000 cars in the 27 minutes since sales started at 10 p.m. Beijing time Thursday.

29/03/2024

South Carolina’s $1.8 billion mystery fund, amassed over a decade due to an accounting transition, has left state leaders perplexed about its origins and intended purpose.

Investigations are underway to determine why the taxpayer money was placed in an account used for inter-agency fund transfers, with State Treasurer Curtis Loftis and Comptroller General Brian Gaines being called upon to provide explanations.

Lawmakers remain cautious about spending the money until its rightful allocation is determined, despite the fact that the invested funds have generated around $200 million in interest for the state.

| |

28/03/2024

The former Spanish soccer federation president was banned in October 2023 from national and international soccer activities for three years after the organization found he violated an article of FIFA's disciplinary code with the kiss incident.

Earlier this year, a judge said enough evidence existed to propose a trial for Rubiales and three other former executives with the Royal Spanish Football Federation.

Prosecutors confirmed to ABC News on Wednesday that they have asked for a two-and-a-half-year sentence for Rubiales, arguing he was holding the head of Hermoso without her consent and that the nonconsensual kiss had personal and professional consequences for the soccer player. He could also face a fine of at least 50,000 euros ($54,000), they said.

28/03/2024

FTX founder Sam Bankman-Fried was sentenced to 25 years in prison on Thursday for the massive fraud and conspiracy that doomed his cryptocurrency exchange and a related hedge fund.

SBF faced a maximum possible sentence of 110 years in prison under federal sentencing guidelines.

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World Health Organization (WHO) has declared a global health emergency in response to the Mpox outbreak.

🚨BREAKING🌎🤒: World Health Organization (WHO) has declared a global health emergency in response to the Mpox outbreak, previously known as monkeypox, now affecting 13 African countries including the DRC, which reports 14,000 cases and 524 deaths. This is the second time in three years that Mpox has been elevated to emergency status. #WHO

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