The Financial Conduct Authority penalized Santander £107.7 million ($132 million) on Friday for “serious and persistent” holes in the Spanish bank’s anti-money laundering control system for over 560,000 corporate clients. The FCA stated that between December 31, 2012 and October 18, 2017, Santander’s UK arm was unable to to manage and supervise its anti-money laundering systems…
The Federal Trade Commission of the US announced that it has filed an antitrust case against Microsoft, claiming that the software company’s attempt to acquire video game publisher Activision Blizzard would violate US law. Microsoft isn’t dealing with competitive pressure for the first time. In 1998, the United States The Department of Justice filed a broad…
Following the collapse of the FTX exchange, which lowered valuations and dampened investor interest, Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies. The implosion of FTX has increased the demand for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to pick up business,…
Elon Musk’s Twitter is relying heavily on automation to moderate content, eliminating certain manual reviews and preferring distribution restrictions over outright censorship, according to the company’s new head of trust and safety, who spoke to Reuters. Twitter is also restricting abuse-prone hashtags and search results in areas such as child exploitation, regardless of the potential…
Hydrogen as fuel seems to be the latest bet for the future of fuel for British Petroleum (BP) CEO Bernard Looney as he expects hydrogen to be the low-carbon businesses for the future for the company. The move is seen to be synchronized with moves of major economies investing in the development of the decarbonizing…
Assa Abloy AB has announced that it will sell its Yale and Emtek lock brands, as well as its residential businesses in the United States and Canada, to Fortune Brands Home & Security in an all-cash $800 million transaction as it seeks to overcome antitrust opposition in the United States to its acquisition of a…
Adidas is down to three of its seven sponsored teams in the World Cup, but the German sportswear company is sticking to its sales forecast for the tournament, according to a spokesperson on Friday following Germany’s shock exit. According to the spokesperson, the company still expects World Cup sales of around 400 million euros ($421…
The largest contract manufacturer of iPhones, Foxconn, is stepping up efforts to recruit workers following unrest at the world’s largest iPhone factory. Employees who successfully refer a friend or family member to work at its Zhengzhou, China plant will receive a $1,000 yuan ($141) bonus. It comes after video of enraged protests at the factory…
After missing earlier deadlines, Elon Musk has announced that a wireless brain chip developed by his company Neuralink will begin human clinical trials in six months. The company is working on brain chip interfaces that it claims will allow disabled patients to move and communicate again, with Musk adding on Wednesday that it will also…
Twitter Inc has reversed a policy aimed at combating COVID-19 misinformation on the social media platform, increasing the risk of a surge in false claims even as cases rise in China and other parts of the world. The move also comes amid concerns about Twitter’s ability to combat misinformation after the company laid off roughly…
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