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1805 articles · page 37 of 38

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Pennsylvania AG Sues Snapchat, Accusing Company of Misleading Parents on Child Safety

Pennsylvania Attorney General Dave Sunday (R) announced a lawsuit Tuesday against Snap Inc., the parent company of Snapchat, accusing the platform of failing to protect children from harmful content and knowingly lying about the frequency of adult-themed material to preserve its 13+ age rating. The complaint, filed in state court, adds to a growing wave of legal actions targeting social media companies over youth safety.

Business

Dreame Scraps Rocket-Powered Car Project After Government Funding Dries Up

Dreame, the Chinese appliance company best known for its robotic vacuums, is abandoning its audacious automotive project—which included a rocket-boosted hypercar capable of 0 to 100 km/h in 0.9 seconds—after the government funding that fueled the venture was pulled, according to reports. The division, called "Project Starry Sky," once employed more than 1,000 people but now retains only a skeleton crew of legal and HR staff to wind down operations.

Business

Decades-Long Linux Ownership Dispute Effectively Ends as US Appeals Court Rejects Xinuos Claim

The United States Court of Appeals for the Second Circuit has rejected Xinuos’ appeal against IBM and Red Hat, bringing a decades-long legal battle over the ownership of Linux code to what appears to be its final chapter. The court upheld a lower court’s dismissal, ruling that Xinuos’ claims—centered on allegedly improper contributions of jointly-developed UNIX code from the defunct Project Monterey—were time-barred and amounted to a re-litigation of ownership issues long settled. Xinuos has announced it will petition for a full-bench rehearing, a move IBM’s legal team calls a “very long shot” with only a 0.03% chance of being granted.

Business

Druckenmiller Warns Treasury Bond Buyback Plan Undermines Market Discipline, Heightens Fiscal Danger

Billionaire investor Stanley Druckenmiller has sharply criticized the U.S. Treasury's bond buyback plan, arguing that the intervention undermines a crucial market check on government borrowing and heightens the danger of unsustainable fiscal policy. Druckenmiller contends that markets are the superior judge of bond prices, and that the Treasury’s move effectively removes a key accountability mechanism.

Business

After-school childcare costs in England surge 42% in a decade, topping £2,800 annually in some areas

The cost of after-school childcare for primary school children in England has soared by 42% over the past ten years, with annual bills now exceeding £2,800 per child in parts of the country, according to a new analysis of data from the children’s charity Coram conducted by The Guardian. The average yearly cost now stands at £2,636, a 5% increase on the previous year, placing increasing financial strain on working families.

· 2 sources
Business

Gold Hits Three-Month High as Iran Conflict and US Fiscal Uncertainty Drive Safe-Haven Demand

Gold prices surged to their highest level in more than three months on Tuesday, driven by escalating conflict in the Middle East and persistent uncertainty over US fiscal policy under the Trump administration. Bitcoin, often described as a digital alternative to gold, also climbed above $80,000 for the first time since May, underscoring a broad shift toward assets perceived as safe havens amid geopolitical and economic turmoil.

· 2 sources
Business

Trump Announces 50% Tariffs on Canadian Autos and Steel; Carney Vows Retaliation 'Dollar for Dollar'

President Donald Trump announced a new 50% tariff on automobiles, auto parts, and steel from Canada, effective January 1, 2027, escalating a trade dispute that began when Canada suspended negotiations. Canadian Prime Minister Mark Carney accused Trump of seeking to 'destroy' Canada's auto industry and said he would only resume talks if the United States comes with 'the right attitude.'

· 7 sources
Business

US Treasury Announces New ‘Economic D-Day’ Sanctions Targeting Iran’s Trading Partners

US Treasury Secretary Scott Bessent has announced a fresh round of sanctions targeting Iran’s key trading partners, describing the measures as an ‘economic D-Day’ designed to sever Tehran’s financial lifelines. The move escalates Washington’s campaign to isolate Iran from the global economy, intensifying pressure on countries that continue to trade with the Islamic Republic.

· 3 sources
Business

SEC Probes AI Hedge Fund Situational Awareness After Near Collapse

The U.S. Securities and Exchange Commission (SEC) has launched an investigation into Situational Awareness, a high-profile artificial intelligence hedge fund that nearly collapsed earlier this year, according to a report from TechCrunch. The fund, which had been celebrated as a Wall Street sensation for its use of machine-learning models to generate outsized returns, now faces federal subpoenas as regulators probe potential misconduct.

· 2 sources
Business

UK graduate job vacancies plummet to lowest level in a decade, down 45% year-on-year

Graduate job vacancies in the UK have tumbled to their lowest point since records began a decade ago, with only 8,383 positions advertised in July – a 45% drop compared with the same month last year, according to data from recruitment website Adzuna. The figures, released on Monday, underscore a worsening downturn in the entry-level labour market and raise fresh questions about the value of university degrees amid rising tuition costs.

Business

GM Faces Intensified Federal Probe Over Brake Problems in Electric Vehicles

Federal safety regulators have escalated their investigation into braking issues in General Motors' electric vehicles, following reports of failures that in one incident forced a driver of a 2024 Chevrolet Blazer EV to deliberately steer into a concrete curb to avoid a catastrophic collision. The National Highway Traffic Safety Administration (NHTSA) is now probing whether the defect poses an unreasonable safety risk across multiple GM EV models.

Business

China Orders Millions of EVs Recalled Over Hidden Door Handles, Expanding Beyond Tesla to Xiaomi, XPeng and Geely

Chinese regulators have ordered the recall of nearly 3 million Tesla vehicles and hundreds of thousands of cars from Xiaomi, XPeng, and Geely over safety concerns with hidden door handles, which they say could trap occupants and hinder rescuers after a collision. The sweeping action broadens a crackdown on minimalist door designs that have become a hallmark of modern electric vehicles.

· 3 sources