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South Korea Targets Illegal Short Selling by Foreign Banks

The Financial Supervisory Service FSS, which oversees the stock market in South Korea, has learned that two investment banks with offices in Hong Kong

The Financial Supervisory Service FSS, which oversees the stock market in South Korea, has learned that two investment banks with offices in Hong Kong engaged in illegal naked short selling, which is against the countrys Capital Markets Act. The two unidentified banks engaged in lengthy transactions totalling 40 billion won $29.58 million and 16 billion won, respectively, which almost certainly led to significant fines. These infractions go against South Koreas efforts to foster an atmosphere beneficial for international investors. The FSS will look into similar practices at other investment banks to stop this type of misbehaviour from happening again. Read More..

B2B Tech News | 2 years ago          

Australia Hits Musks X with Fine for AntiChild Abuse Failure

Australias internet safety agency fined Elon Musks X previously Twitter A$610,500 for not cooperating in investigating antichild abuse policies. This

Australias internet safety agency fined Elon Musks X previously Twitter A$610,500 for not cooperating in investigating antichild abuse policies. This measure comes in response to Musks declaration last November that "removing child exploitation is priority #1." The eSafety Commission criticised the companys lack of action as "empty talk." The penalty was imposed because X refused to give crucial details, such as response times to allegations of child sexual exploitation and detection procedures. Since Musks $44 billion takeover, X has had a steady fall in income, and it recently laid off 80% of its global personnel, raising questions about user protection. In addition, Google was given a warning for disobedience. Read More..

B2B Tech News | 2 years ago          

AI Chip Exports Face New Hurdles in U.S.China Relations

As part of the Biden administrations efforts to stop the export of AI chips, the U.S. plans to place harsher controls on American chipmakers, banning

As part of the Biden administrations efforts to stop the export of AI chips, the U.S. plans to place harsher controls on American chipmakers, banning them from selling semiconductors to China that circumvent government prohibitions. These new regulations will require that companies record shipments of artificial intelligence AI chips and, in some cases, prohibit AI chips slightly below current technical parameters. They will be added to the current limits on exporting advanced chips and chipmaking equipment to China. Although the Biden administration has claimed concerns about national security, these regulations risk disrupting diplomatic ties between the United States and China. Read More..

B2B Tech News | 2 years ago          

Canon Takes on ASML with GameChanging Semiconductor Tech

Canon, a company best known for its printers and cameras, has launched a "nanoimprint lithography" method to compete with ASML, a Dutch semiconductor

Canon, a company best known for its printers and cameras, has launched a "nanoimprint lithography" method to compete with ASML, a Dutch semiconductor manufacturing behemoth. The most recent iPhones from Apple are made with semiconductors made by TSMC using EUV lithography equipment from ASML. The USChina tech conflict involves these devices. The manufacture of semiconductors at 5 nanometers and below is possible because of ASMLs EUV technology. Canon claims that the FPA1200NZ2C machine can produce as small as 2nm semiconductors. Historically concentrating on cameras and optical equipment, Canon is entering the semiconductor supply chain to suit industry demands. Read More..

B2B Tech News | 2 years ago          

Historic Labor Agreement Reached After Massive Healthcare Worker Strike

After a threeday strike involving 75,000 members, a union coalition representing Kaiser Permanente healthcare employees has achieved a tentative labou

After a threeday strike involving 75,000 members, a union coalition representing Kaiser Permanente healthcare employees has achieved a tentative labour agreement. The walkout affected nurses, technicians, and support personnel at Kaiser hospitals and clinics across multiple states and was the biggest among medical professionals. The agreement calls for uniform salary hikes, with Californias minimum wage rising to $25 per hour and $23 in other states where Kaiser does business. Julie Su, the U.S. Labour Departments acting secretary, participated in the discussions. The agreement calls for a 21% pay raise over four years, performancebased bonuses, and staffing shortage solutions. The agreement, which takes effect on October 1, will be put to a vote by more than 85,000 Kaiser employees. Read More..

B2B Tech News | 2 years ago          

IMF and World Bank Intensify Response to Global Challenges Bringing Africa On Center Stage

The IMF and World Bank have increased their response to global concerns since 2020, contributing $80 billion in funding, including debt relief and res

The IMF and World Bank have increased their response to global concerns since 2020, contributing $80 billion in funding, including debt relief and resilience programmes for six countries, due to their annual meetings in Marrakech. The gatherings this year mark the events 50year return to Africa. Due to high inflations impact on borrowers ability to make payments, debt sustainability is a worry. The IMF emphasised that despite low growth rates, debt vulnerabilities in Africa remain significant. Caution has been used in debt cancellation, highlighting the necessity for a casebycase approach. The gatherings take place in conjunction with a countersummit on debt elimination. Economic leaders have convened to discuss maintaining stability and growth in the face of conflict, inequality, and climate change. Read More..

B2B Tech News | 2 years ago          

UK Antitrust Greenlights Microsofts $69B Activision Blizzard Deal

The acquisition of game company Activision Blizzard by Microsoft has been approved by the UKs antitrust regulator, allowing the transaction to close o

The acquisition of game company Activision Blizzard by Microsoft has been approved by the UKs antitrust regulator, allowing the transaction to close on October 18. The permission comes after Microsoft agreed to ensure fair competition and the restructuring of the agreement. Selling Ubisoft the streaming rights and resolving worries about having too much control over cloud gaming are part of this. The Competition and Markets Authority CMA highlighted its independence from corporate lobbying and political influence and referred to Microsofts concessions as a "gamechanger" and described them as such. The $69 billion gaming industry transaction, initially obstructed in April, was finally approved. Microsoft applauded the decision, while Activision Blizzard looked forward to joining the Xbox Team. Read More..

B2B Tech News | 2 years ago          

Trump SPAC DWAC Returns $533 Million, Halting Truth Social Funding

Trump Media & Technology Group TMTG, which includes Trumps Truth Social platform, was to be funded by a $1 billion PIPE deal. Still, Digital World Acq

Trump Media & Technology Group TMTG, which includes Trumps Truth Social platform, was to be funded by a $1 billion PIPE deal. Still, Digital World Acquisition Corp. DWAC, the SPAC that will merge with Trumps media and technology company, is returning $533 million to investors instead. Investor withdrawals prompted this decision to expedite the TMTG merger, resulting in the termination of the PIPE transaction. An amendment passed in August required the unwinding of the PIPE, giving Trump more clout in the DWAC. To transfer to TMTG, DWAC will keep $293 million from its IPO, which investor redemptions may lower. Either party may terminate the merger agreement between October 31 and November 21. DWACs stock dropped 2% to $15.54, significantly below its peak of $97 in March 2022. Read More..

B2B Tech News | 2 years ago          



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