FSRA refuses to renew the licence and imposes administrative penalties against Manpreet Ghai

Reuters
Potential China action against EU pork may be double-edged sword for Brazil
China's potential imposition of anti-dumping measures on European Union pork imports, a disastrous scenario for the bloc, could benefit Brazil's exporters but also affect the country's ability to compete elsewhere, analysts and industry sources said. Chinese companies have asked for an anti-dumping probe into pork imports from the European Union, state-backed Chinese media have reported. The potential for additional demand from China as a consequence of any anti-dumping measures is welcome for Brazilian exporters.
Reuters
Elon Musk won $56 billion payday because of vote, Tesla argues in court
Tesla is claiming Elon Musk won his legal battle over his $56 billion pay package because shareholders voted for the compensation, despite a judge rescinding it earlier this year, according to a court filing made public on Thursday. The company's filing comes two weeks after Tesla shareholders voted to ratify the 2018 package of stock options. Tesla held the vote following a January ruling by a Delaware judge to void the compensation because Musk improperly controlled the negotiation process and the company misled shareholders about key details.
Reuters
India opposition asks Modi government to question Foxconn hiring practices
India's opposition Congress urged Prime Minister Narendra Modi's government on Saturday to question Foxconn about its hiring practices after Reuters reported that the Apple supplier rejects married women from iPhone assembly jobs in the country. The government has sought a detailed report from the state of Tamil Nadu, site of a major iPhone factory where Reuters uncovered Foxconn's hiring practices. The story has sparked debates on TV channels, newspaper editorials and calls from women groups, including within Modi's party, to investigate the matter.
Reuters
Growth of India capability centres set to rise sharply, says consultant ANSR
Growth in companies setting up global capability centres (GCCs) in India is set to accelerate sharply as it evolves from a low-cost back office location to a high-value innovation hub, said Lalit Ahuja, founder and CEO of consulting group ANSR. Indian hubs are now doing cutting-edge work ranging from developing dashboard design for luxury cars to helping pharmaceuticals giants with drug discovery, and have diversified into functions beyond tech support, Ahuja said this week. Overseas companies have opened 118 GCCs in India over the past two years, taking their total to more than 1,620, February data from industry body Nasscom showed.
Associated Press
Eagles singer Don Henley sues for return of handwritten ‘Hotel California’ lyrics
Eagles singer Don Henley filed a lawsuit in New York on Friday seeking the return of his handwritten notes and song lyrics from the band’s hit “Hotel California” album. The civil complaint filed in Manhattan federal court comes after prosecutors in March abruptly dropped criminal charges midway through a trial against three collectibles experts accused of scheming to sell the documents. The Eagles co-founder has maintained the pages were stolen and had vowed to pursue a lawsuit when the criminal case was dropped against rare books dealer Glenn Horowitz, former Rock & Roll Hall of Fame curator Craig Inciardi and rock memorabilia seller Edward Kosinski.
Reuters
Apple's iPhone shipments in China surge 40% in May amid aggressive discounting
BEIJING (Reuters) -Apple's smartphone shipments in China rose nearly 40% in May from a year earlier, extending a rebound seen in April, data from a research firm affiliated with the Chinese government showed on Friday. Shipments of foreign-branded phones in China increased by 1.425 million in May to 5.028 million units from 3.603 million a year earlier，calculations based on the data from the China Academy of Information and Communications Technology (CAICT) showed. Although the data did not explicitly mention Apple, the company is the dominant foreign phone maker in China's smartphone-dominated market.
GOBankingRates
8 Jobs for Retirees That Pay Weekly
Working in retirement is often a completely different experience than "having to work" during a traditional work career. For many seniors, working in retirement is enjoyable and has huge mental and...
Oilprice.com
Namibia Is Gearing Up for a Major Oil Boom
Namibia's recent oil discoveries, particularly Galp's Mopane find, have sparked a surge in interest from major oil companies, with potential reserves rivaling Guyana's.
Reuters Videos
NFL faces $4.7 bln hit in 'Sunday Ticket' antitrust
STORY: The NFL must pay more than $4.7 billion in class-action damages for overcharging subscribers to its “Sunday Ticket” telecasts. That was the verdict of a California federal jury on Thursday, after a decade of litigation. Jurors agreed with plaintiffs, who had argued that the league conspired to inflate the price of the service. They argued that the cost was deliberately raised to limit subscribers, and prevent broadcasters like CBS and Fox from losing viewers for their free-to-air games. Sunday Ticket lets fans to watch out-of-market games for an annual feeGames that are 'out-of-market' are not shown nationally, and fans may be unable to watch them where they live, often because of exclusivity rights.However, Sunday Ticket made them buy a bundle of games - even if they may only want to watch one.The case covers a period starting in 2011, when the service was run by DirecTV, a unit of AT&T. It now costs up to $449 per year under its new operator, Google’s YouTube. Neither firm is a defendant in the case. The NFL said it was disappointed by the verdict, and would definitely contest it. It called the case “baseless and without merit”. But things could yet get worse for the league operator. Under U.S. antitrust law, a judge could triple the damages, bringing the total hit to over $14 billion. The class action case covers some 2.4 million residential customers, as well as thousands of bars and restaurants that showed games.
GOBankingRates
I’m a Financial Expert: Here’s What My Clients Always Get Wrong When Trying for Early Retirement
Here's a somewhat morbid reality: The full retirement age (FRA) is 66 or older, depending on when you were born. The average life expectancy in the U.S. is about 77, as of 2022. So, if you retire at...
TechCrunch
Following raft of consumer complaints, Shein and Temu face early EU scrutiny of DSA compliance
Ultra-low-cost e-commerce giants Shein and Temu have only recently been confirmed as subject to centralized enforcement of the strictest layer of the European Union's digital services regulation, the Digital Services Act (DSA), but on Friday the Commission announced it's sent a bunch of requests for information (RFI) to both platforms vis-à-vis to their compliance with various requirements of the law. The DSA is the bloc's recently rebooted online rulebook which aims to raise standards on digital services including marketplaces -- with lawmakers touting the regime as their tool of choice to shrink consumer risks in areas like the sale of illegal or dangerous goods.
South China Morning Post
Alibaba to close data centres in Australia, India amid expansion in Southeast Asia, Mexico
Alibaba Group Holding's cloud computing unit plans to shut down its data centres in Australia and India, as the company prioritises infrastructure spending in other markets. Citing the move as part of its "infrastructure strategy update", Alibaba Cloud said the decision was made after a "careful assessment" amid new efforts to "expand investment in Southeast Asia and Mexico", the company said in a statement on Thursday. Alibaba owns the South China Morning Post. Alibaba Cloud plans to suspend it
Barrons.com
Apple Will Be the ‘Leader’ of the AI Consumer Experience
Apple stock will continue to rise as the company’s generative artificial intelligence products, set to launch this fall, lead to an acceleration of growth in revenue and earnings, an Oppenheimer analyst says. Analyst Martin Yang increased his price target for Apple to $250 from $200, which implies a 21% increase from the stock’s closing price of $214.10 on Thursday. Yang wrote on Friday that he expects the stock to rise based on optimism over the company’s AI initiatives and how they are geared toward the consumer experience.
Reuters
Oil prices to stay steady as China demand woes offset Mideast risks
(Reuters) -Oil prices will not change much in the second half of 2024 as concerns around demand from China and prospects of higher supply from key producers counter risks from geopolitical tensions, a Reuters poll indicated on Friday. A poll of 44 analysts and economists surveyed by Reuters in the last two weeks forecast the global benchmark, Brent crude , would average $83.93 per barrel in 2024, just shy of the $84.01 consensus in the previous month's poll. Brent crude futures have averaged $83.4 thus far in 2024, after brief spikes to as high as $92.18, driven by supply risks due to the conflict in the Middle East.
Reuters
Toyota to launch first EV with advanced self driving system for China in 2025
Toyota is planning to launch the first electric car model equipped with an advanced autonomous driving system similar to Tesla's Full Self-Driving for the Chinese market next year, one of its Chinese joint ventures said. The JV with state-owned Guangzhou Automobile Group (GAC) aims to restore the Japanese automaker's market share in China by catching up with Chinese rivals on technologies in hybrids, batteries and intelligent vehicles. GAC Toyota said it would launch Bozhi 3X SUV next year as the first model to be equipped with the system that would enable advanced driving assistance for parking and navigation on highways and urban traffics.
Yahoo Finance
Chipotle sales have been on fire. Here are 3 ways the burrito chain can keep them sizzling.
Chipotle is winning over investors, and one analyst thinks there are more levers the fast-casual restaurant could pull to keep the flame burning long-term.
The Telegraph
Chinese shopping app ‘is spying on Western customers’
The popular shopping app Temu has been accused by a US state of spying on Western customers’ text messages.
GOBankingRates
I Retired At 40: Here’s What My Salary Was
Early retirement is a dream that most people don't even allow themselves to consider, because it requires an incredible amount of planning and savings to make happen. Yet others, like those who...
Reuters
Ten big banks settle US interest rate swaps rigging litigation
Ten large banks including Bank of America, Goldman Sachs and JPMorgan Chase will pay $46 million to settle a long-running antitrust lawsuit accusing them of conspiring to rig the now $465.9 trillion market for interest rate swaps. Lawyers for investors filed a preliminary settlement to end the eight-year-old nationwide case on Thursday in Manhattan federal court. The settlement requires approval by U.S. District Judge Paul Oetken, and boosts the value of all settlements in the case to $71 million.
Reuters
Texas wins court block on Biden overtime pay rule
(Reuters) -A federal judge in Texas on Friday temporarily blocked a Biden administration rule from taking effect that would extend mandatory overtime pay to 4 million salaried U.S. workers. U.S. District Judge Sean Jordan in Sherman, Texas, said the U.S. Department of Labor rule that is set to go into effect on Monday improperly bases eligibility for overtime pay on workers' wages rather than their job duties. Jordan, an appointee of Republican former President Donald Trump, blocked the Labor Department from applying the rule to state workers in Texas pending the outcome of a legal challenge by the Republican-led state.

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FSRA refuses to renew the licence and imposes administrative penalties against Manpreet Ghai

Latest stories

Potential China action against EU pork may be double-edged sword for Brazil

Elon Musk won $56 billion payday because of vote, Tesla argues in court

India opposition asks Modi government to question Foxconn hiring practices

Growth of India capability centres set to rise sharply, says consultant ANSR

Eagles singer Don Henley sues for return of handwritten ‘Hotel California’ lyrics

Apple's iPhone shipments in China surge 40% in May amid aggressive discounting

8 Jobs for Retirees That Pay Weekly

Namibia Is Gearing Up for a Major Oil Boom

NFL faces $4.7 bln hit in 'Sunday Ticket' antitrust

I’m a Financial Expert: Here’s What My Clients Always Get Wrong When Trying for Early Retirement

Following raft of consumer complaints, Shein and Temu face early EU scrutiny of DSA compliance

Alibaba to close data centres in Australia, India amid expansion in Southeast Asia, Mexico

Apple Will Be the ‘Leader’ of the AI Consumer Experience

Oil prices to stay steady as China demand woes offset Mideast risks

Toyota to launch first EV with advanced self driving system for China in 2025

Chipotle sales have been on fire. Here are 3 ways the burrito chain can keep them sizzling.

Chinese shopping app ‘is spying on Western customers’

I Retired At 40: Here’s What My Salary Was

Ten big banks settle US interest rate swaps rigging litigation

Texas wins court block on Biden overtime pay rule