World
U.S. firm Clearview A.I. fined for illegally collecting images of Brits’ faces
Clearview AI, a New York-headquartered facial recognition company, has been fined £7.5 million ($9.4 million) by a U.K. privacy regulator. Over the last few years, the firm has collected images from the web and social media of people in Britain and elsewhere to create a global online database that can be used by law enforcement […]
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Christine Lagarde says crypto is worth nothing
The European Central Bank is exploring whether to issue its own digital alternative to cash. Olivier Matthys | AFP | Getty Images European Central Bank President Christine Lagarde thinks cryptocurrencies aren’t worth a dime. “My very humble assessment is that it is worth nothing,” Lagarde said of crypto in an interview with Dutch talk show […]
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Tether withdrawals top $10 billion as regulators raise alarm about stablecoins
Tether claims its dollar-pegged token is “fully backed.” Justin Tallis | Afp | Getty Images Investors have yanked more than $10 billion out of tether in the past two weeks amid heightened regulatory scrutiny over stablecoins. Tether, the world’s largest stablecoin, has seen its circulating supply plunge from a record $84.2 billion on May 11 […]
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Credit Suisse chairman denies reports of talks to replace CEO Gottstein
The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. Arnd Wiegmann | Reuters Credit Suisse Chairman Axel Lehmann has denied reports that talks have taken place to explore replacing CEO Thomas Gottstein. Bloomberg News reported earlier this month, citing sources close to the matter, that the […]
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Conflict, politics and history: Why Turkey is standing in the way of Sweden and Finland’s NATO bids
When Finland and Sweden announced their interest in joining NATO, the two Nordic states were expected to be swiftly accepted as members of the defense alliance. But joining NATO requires consensus approval from all existing members, and Turkey – one of the group’s most strategically important and militarily powerful members – is not happy. The […]
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Google, Meta and Amazon will benefit from the Ukraine war, ad guru Martin Sorrell says
Martin Sorrell, founder and chairman of media firm S4 Capital, believes the war in Ukraine has the potential to benefit three of America’s biggest tech firms. “I’m very bullish on the tech giants … because the war will have an impact on them,” Sorrell told CNBC at the World Economic Forum in Davos Monday. He […]
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U.S. announces major Asia economic deal in effort to boost profile, counter China
U.S. President Joe Biden, pictured here on Thursday, April 21, 2022, has launched the Indo-Pacific Economic Framework for Prosperity (IPEF) with a dozen initial partners. Yuri Gripas | Abaca | Bloomberg | Getty Images In a move to raise its economic profile and create another counterbalance to China within Asia, the United States announced on […]
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Russian forces focus efforts on Severodonetsk, eastern Ukraine; Zelenskyy set to address Davos elite. Follow our live updates
Russian forces zero in on Severodonetsk in Donbas, Ukraine says Russian forces have been targeting Ukraine’s defenses in the Donetsk area in a bid to push through to neighboring Luhansk in the eastern region of Donbas, Kyiv said in its latest military update Monday morning. The General Staff of Ukraine’s Armed Forces said Russia had […]
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How Davos became the anti-establishment’s punching bag
The World Economic Forum is trying to fix an image problem. Nearly 2,500 global leaders from business, politics and civil society are expected to take part in a rare springtime version of Davos this week. The annual meeting will see movers and shakers convene in Switzerland’s luxury Alpine ski resort of Davos for five days […]
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Australia’s new leader Albanese sworn in, ahead of Quad meet
Anthony Albanese, leader of the Labor Party, during a ceremony at the Government House in Canberra, Australia, on Monday, May 23, 2022. Albanese, was sworn in as the country’s 31st prime minister on Monday, promising to bring the country together after a fractious election campaign as he vowed to tackle climate change and inequality. Brendon […]
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