Business

Tepco shares tumble 7% on reported interest in bid for Toshiba

Shares of Tokyo Electric Power Co (Tepco) (9501.T) fell more than 7% on Wednesday after a news report that the Japanese power utility is considering joining a state-backed fund to buy Toshiba Corp (6502.T). Tepco is considering joining a partnership between state-backed Japan Investment Corp and Japan Industrial Partners to bid for Toshiba, and is […]

Business

Hacker claims to have stolen 1 bln records of Chinese citizens from police

A hacker has claimed to have procured a trove of personal information from the Shanghai police on one billion Chinese citizens, which tech experts say, if true, would be one of the biggest data breaches in history. The anonymous internet user, identified as “ChinaDan”, posted on hacker forum Breach Forums last week offering to sell […]

Business

U.S. shifts peak-hour flight approvals to Spirit Airlines at Newark

The U.S. government on Tuesday reassigned 16 peak-hour runway timings at congested Newark Airport in New Jersey to Spirit Airlines (SAVE.N) from Southwest Airlines (LUV.N), saying this would boost competition and help reduce costs for travelers. The move “secures low-cost service options for Newark customers and improves competition in the Newark market,” the U.S. Transportation […]

Business

Laid-off Tesla workers file emergency plea, allege small severance pay

Two laid-off Tesla (TSLA.O) workers filed an emergency motion on Tuesday to stop the electric car maker for allegedly seeking separation agreements for far less severance than legally required. As part of Tesla’s ongoing layoffs, it has been asking employees to agree to release it of all claims, in exchange for a severance of just […]

Business

ASML shares fall on report US wants to restrict sales to China

Shares in ASML Holding (ASML.AS), a key supplier of equipment to semiconductor makers, fell on Tuesday following a Bloomberg News report that the U.S. government wants to restrict the company from selling equipment to China. ASML has already been unable to ship its most advanced tools to China, but the report said Washington would also […]

Business

U.S. exchanges win court appeal on SEC market data order

A U.S. appeals court on Tuesday struck down an order by the Securities and Exchange Commission that would have allowed some financial firms that are not stock exchanges to have a say in how essential stock market data is priced and disseminated. The ruling was a win for large exchange groups like Intercontinental Exchange’s (ICE.N) […]

Business

Cryptoverse: The bonfire of the NFTs

The NFT dream isn’t dead, but it’s taken a big non-fungible beating. The market shone gloriously last year as crypto-rich speculators spent billions of dollars on the risky assets, pumping up prices and profits. Now, six months into 2022, it’s looking ugly. Monthly sales volume on the largest NFT marketplace, OpenSea, plunged to $700 million […]