European Union to limit export of sensitive technology to Hong Kong after China clampdown: draft document

According to a EU draft document, the bloc will limit the export of technology that may be used for repression or surveillance to Hong Kong following China imposing its draconian security law on the territory. In what will be the first step by the European Union, the EU expressed “grave concern” over the sweeping national…

European companies that routinely transfer data to U.S. need to urgently rethink and rework their data transfer strategy following court ruling

A privacy watchdog from the European Union has warned, companies who are typically transfer data to the United States must revert to new arrangements with immediate effect. The development comes in the wake of the Privacy Shield transatlantic pact being declared invalid last week. The lack of a grace period in the court’s ruling means…

Goldman Sachs And Malaysia Settle 1MDB Scandal In A $3.9 Billion Settlement Deal

A $3.9 billion settlement with the Malaysian government has been reached by the United States based lender and investment bank Goldman Sachs to settle the case of the multibillion-dollar 1MDB scandal, both the entities said on Friday. Malaysia’s finance ministry said in a statement that a $2.5 billion cash payout by Goldman as well as…

Delay of Intel’s 7nm chip production signals change of founding principle strategy

In a significant development, Intel Corp stated, its new 7-nanometer chip technology is running six months behind schedule and that it may considering outsourcing more work to other semiconductor foundries, eroding a founding principle that manufacturing is key to its success. With the news reaching the market, Intel’s shares fell by 9%. Although the setback…

Apple likely to face deceptive trade practices lawsuit by multiple U.S. states: Tech Transparency Project

Going by documents obtained a tech watchdog group, many U.S. states are investigating Apple Inc’s trade practices, including a potential deception of its products to consumers. According to the Tech Transparency Project, the attorney general of Texas could potentially sue Apple for violating the state’s deceptive trade practices law in connection with the multi-state investigation,…

Moderna’s efforts to develop next-generation vaccines faces strong headwinds

In a significant development, the U.S. Patent and Trademark Office has rejected arguments by Moderna that an Arbutus patent, known as the ‘069’ patent should be revoked since it described obvious concepts. With the news reaching the market, Moderna Inc’s shares fell by nearly 10%. Arbutus shares more than doubled to $6.20 on Nasdaq. Moderna…

Unilever Warns Of Start Of Global Recession, Resulting In Shift In Spending Patterns

The global economy has already slipped into a deep recession which has also brought about dramatic shifts in consumer behavior, said Unilever, one of the biggest manufacturers of grocery brands in the world. “We believe that talk about a quick recovery is too optimistic. A deep global recession has already started and we are seeing…