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WASHINGTON, Feb 1, 2024 (AFP) – The International Monetary Fund on Wednesday approved a fresh $4.7 billion for Argentina, praising the new administration of President Javier Milei as he enacts “bold” cost-cutting to bring the country’s ailing economy back on track. The new disbursement — which brings to around $40.6 billion the amount sent to Argentina as part of a $44 billion aid program — is intended “to support the new authorities’ strong policy efforts […]
Universal Music Group warned Tuesday that it would pull its songs from TikTok, after a breakdown in talks with the social media platform over issues including the compensation of artists and songwriters. In an open letter, Universal accused TikTok of “trying to build a music-based business, without paying fair value for the music.” Both sides have been discussing the terms of a new agreement, with their existing contract set to expire on Wednesday. But their […]
NEW YORK, Jan 31, 2024 (AFP) – A judge in the US state of Delaware voided the $56 billion compensation package of Tesla chief executive Elon Musk on Tuesday, siding with a shareholder who claimed the entrepreneur was overpaid. The judge in Delaware Chancery Court ruled that the plaintiff, a Tesla shareholder named Richard Tornetta, was “entitled to rescission,” approving the annulment of Musk’s 2018 humongous compensation agreement worth as much as $55.8 billion. Judge […]
TOKYO, Jan 30, 2024 (AFP) – Toyota’s chairman said Tuesday he was “ashamed” of recent scandals involving subsidiaries of the Japanese auto giant, as the firm announced record vehicle sales of 11.2 million across its brands last year. The bumper figure — an industry record — sees Toyota retain its position as the world’s top-selling automaker for the fourth successive year, thanks to a recovery in demand and easing chip shortages. Taking only the Toyota […]
By Jamal al-Jabiri SANAA, Jan 24, 2024 (AFP) – Yemen’s Huthis fired three missiles at two merchant ships in the Red Sea on Wednesday in their latest attack in the commercially vital waterway, the White House and the Iran-backed rebels said. It came after the Huthis vowed to keep up their attacks despite repeated US and British strikes against them. One missile missed its target and a US Navy destroyer shot down the other two, […]
By John BIERS NEW YORK, Jan 25, 2024 (AFP) – US regulators approved a detailed inspection framework that would allow the return to service of Boeing 737 MAX planes grounded after an emergency landing earlier this month, officials said Wednesday. Shortly after the Federal Aviation Administration announced inspection protocols on the Boeing 737 MAX 9, United Airlines said it expects grounded aircraft to return to service starting Sunday. “We will only return each MAX 9 […]
Microsoft joined Apple on Wednesday as a three trillion dollar company, as its big bet on artificial intelligence continued to impress Wall Street. Now second to Apple as the world’s biggest company by market capitalization, Microsoft’s shares were up 1.31 percent at $404. Apple remains narrowly in first place at $3.02 trillion after reaching the $3 trillion market capitalization mark for the first time in January 2022. But it has fallen below the milestone, even […]
BAMAKO, Jan 24, 2024 (AFP) – More than 70 people have been killed after a tunnel collapsed at a Malian gold mining site last week, local sources told AFP Wednesday, the latest disaster in a region prone to mining accidents. Mali, which is among the world’s poorest countries, is one of Africa’s leading gold producers. Gold mining sites are regularly the scene of deadly landslides and authorities struggle to control artisanal mining of the precious […]
DOHA, Jan 24, 2024 (AFP) – Qatar’s liquefied natural gas (LNG) deliveries may be delayed by attacks in the Red Sea, QatarEnergy warned on Wednesday, stressing that production had not been impacted. The state-owned giant confirmed in a statement that “Qatar’s LNG production continues uninterrupted, and our commitment to ensuring the reliable supply of LNG to our customers remains unwavering”. “While the ongoing developments in the Red Sea area may impact the scheduling of some […]
HANOI, Jan 23, 2024 (AFP) – Vietnamese internet firm VNG has withdrawn its registration for an initial public offering in the United States, according to a company statement. Last year, the Ho Chi Minh City-based company said it aimed to sell nearly 22 million shares in the IPO and had plans to expand into Southeast Asia, the Middle East and Latin America. “The Company has determined not to conduct a registered offering at this time […]
NEW YORK, Jan 23, 2024 (AFP) – Hundreds of unionized staffers at Conde Nast, the parent company behind legacy publications including Vogue and Vanity Fair, walked out Tuesday in protest of looming layoffs. As part of the NewsGuild action, 400 employees walked off the job on the news-heavy day, which saw the announcement of Academy Award nominations and voting in a presidential primary. The union urged people not to cross the digital picket line by […]
LOS ANGELES, Jan 23, 2024 (AFP) – League of Legends maker Riot Games said Monday it will cut around 530 jobs worldwide, describing the layoffs as “a necessity.” The layoffs at Riot — owned by Chinese tech giant Tencent — follow a turbulent year for the gaming industry, with job cuts at major firms including Electronic Arts and Ubisoft. Riot has developed global hits including League of Legends and Valorant, but said it had launched […]
