People returning to work and social gatherings wore the comfy styles that had reigned during lockdowns, thus Levi Strauss & Co’s denim jeans and jackets flew off the shelves in the second quarter. This, combined with higher prices, enabled Levi’s to outperform expectations and raise its quarterly dividend, sending its shares up roughly 4% in…
Russia’s Gazprombank is looking into strategic options for its Swiss operations, including the sale of all or portions of it, according to Zurich-based Gazprombank Switzerland. Because the other big Russian banks are sanctioned for Moscow’s invasion of Ukraine, Gazprombank is one of the only surviving routes for financing commercial flows between Russia and Switzerland. Its…
Apple Inc announced on Wednesday that it will introduce a new feature called “Lockdown Mode” this fall, with the goal of adding a new layer of safety for human rights campaigners, political dissidents, and other targets of sophisticated hacker assaults. At least two Israeli firms have exploited weaknesses in Apple’s software to remotely break into…
Britain’s antitrust authority is looking into Amazon.com Inc on suspicion of undermining competition by giving its own sellers an unfair edge in its marketplace over third parties, adding to global regulatory scrutiny of the US internet behemoth. The Competition and Markets Authority (CMA) of the United Kingdom announced on Tuesday that it has launched an…
A judge has ruled that Kellogg’s cannot promote sugary cereals in supermarket special offers. In-store marketing for foods and beverages rich in fat, salt, or sugar will be limited under new England regulations. Kellogg’s had taken the government to court, claiming that the rules did not account for the nutritional value of additional milk. The…
On Tuesday, EU lawmakers approved unprecedented regulations to curb the dominance of digital titans such as Alphabet unit Google, Amazon, Apple, Facebook, and Microsoft, but enforcing them may be difficult due to regulators’ limited resources. Along with the Digital Markets Act (DMA) provisions, lawmakers also approved the Digital Services Act (DSA), which requires Internet companies…
Vauld, a cryptocurrency lender, halted all withdrawals, trading, and deposits on its platform on Monday and stated it is looking into potential restructuring options. In a blog post published on Monday, Vauld CEO Darshan Bathija stated that the company is facing “financial challenges” due to “volatile market conditions, the financial difficulties of our key business…
A hacker used the British Army’s social media profiles to direct people to bitcoin frauds. On Sunday, the army’s Twitter and YouTube accounts were taken over by a hacker or hackers whose identity is unknown. The Twitter account’s name was changed to “pssssd,” and its profile and header images were altered to mimic “The Possessed,”…
Digital asset brokerage firm Voyager Digital has halted all customer trading, deposits, withdrawals, and loyalty awards, according to a statement issued by the company. “This was a tremendously difficult decision, but we believe it is the right one given current market conditions,” said Stephen Ehrlich, CEO of lending company Voyager. Erlich went on to explain…
Meta Platforms Inc, which owns Facebook, has trimmed plans to hire engineers by at least 30% this year, CEO Mark Zuckerberg told employees, as he cautioned them to brace for a severe economic slump. “If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in recent…
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