Government

Buffett’s Apple Share Dump Is Set to Reshape Major Stock Gauges
09 Aug

Buffett’s Apple Share Dump Is Set to Reshape Major Stock Gauges

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Warren Buffett’s sudden sale of a huge pile of Apple Inc. shares has come with a surprise silver lining for investors in the iPhone maker: Its influence in major stock indexes is set to be fully unleashed.Apple’s weighting in a slew of benchmarks has been depressed for years because Buffett’s Berkshire Hathaway Inc. tends to hold its investments for the long run, making them unavailable for trading. As a result, index providers calculated the tech company’s weight based on a methodology known as float-adjusted market capitalization. Source link lol
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Italy Makes Cybersecurity Demands in Talks on Chinese Auto Plant
09 Aug

Italy Makes Cybersecurity Demands in Talks on Chinese Auto Plant

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Italy is demanding Dongfeng Motor Group Co. agree to safeguards on cybersecurity and data protection as the price of support for a new plant by the Chinese automaker, according to people familiar with the matter.As talks advance with Dongfeng, Prime Minister Giorgia Meloni’s government is requiring components such as infotainment units be provided by local suppliers for security reasons, the people said, asking not to be identified discussing confidential negotiations. Italian officials also want consumer data to be collected and managed within the country, they said. Source link lol
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Millions Meant for a National ID System Instead Benefited Congo’s Elites
09 Aug

Millions Meant for a National ID System Instead Benefited Congo’s Elites

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In Congo’s second city of Lubumbashi, a blue glass-and-steel shopping mall towers over the dust-blown skyline, dwarfing the surrounding colonial-era architecture. In 2018, then President Joseph Kabila was guest of honor at the development's opening ceremony, using a pair of golden scissors to cut a ribbon printed in Congo’s national colors of yellow, red and blue.Six years later, the $25 million Hypnose complex stands as a monument to the corruption that has long dogged the vast central African nation. It illustrates how money intended to develop a national ID system was leveraged to serve a small number of elite with…
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Microsoft Says Iranian Hackers Targeted US Political Campaigns
09 Aug

Microsoft Says Iranian Hackers Targeted US Political Campaigns

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A hacking group linked to the Iranian government tried to breach the email accounts of presidential campaign staffers as part of a wider effort to gather intelligence ahead of the US election, Microsoft Corp. said Friday.Attackers connected to the Islamic Revolutionary Guard Corps in June used a compromised email address from a former political adviser to try phishing another high-ranking presidential campaign official, according to findings from Microsoft’s Threat Analysis Center. That group, which Microsoft calls Mint Sandstorm, also unsuccessfully attempted to log in to the account of a former presidential candidate. The report didn’t identify the individual targets by…
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China’s SMIC Accelerates Capacity Buildout as Chip War Evolves
09 Aug

China’s SMIC Accelerates Capacity Buildout as Chip War Evolves

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Semiconductor Manufacturing International Corp. is expediting its plans to build more capacity as a US-led multinational campaign is putting more restrictions on China’s access to advanced foreign technologies. “Some of our customers have won new opportunities due to geopolitics-induced changes in the supply chain,” SMIC Co-Chief Executive Officer Zhao Haijun told analysts during a post-earnings call on Friday. “We are growing capacity at a speed faster than originally planned.” Source link lol
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Musk’s Riot Provocations Prompt UK to Seek Tougher Online Rules
08 Aug

Musk’s Riot Provocations Prompt UK to Seek Tougher Online Rules

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Keir Starmer called for a “mature conversation” with social media companies to limit malicious content that’s stoked days of rioting in the UK. Instead, he found himself in an escalating online confrontation with Elon Musk, the billionaire owner of X.Now, the UK is mulling steps to tighten the regulation of platforms like Musk’s — and finding it has few levers, especially when the owner is a major amplifier of misinformation. One step would be to revive a key provision in the Online Safety Act, set to be implemented later this year, giving authorities more power to force social media companies…
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Coinbase Shares Gain After Court Limits SEC Award in Ripple Case
08 Aug

Coinbase Shares Gain After Court Limits SEC Award in Ripple Case

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Coinbase Inc. shares rose after a federal court ruled that Ripple Labs Inc. pay a fraction of what the US Securities and Exchange Commission sought in a civil suit, a decision that bodes well for the biggest US crypto exchange’s case with the agency.Coinbase’s shares are up about 7% to around $191 on Thursday, a day after the court said that Ripple had to pay a penalty of $125 million. The SEC sued for almost $2 billion to punish Ripple for raising money without registering its token as a security in 2020. Source link lol
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Anglo Revamp, Unity Government Seen Igniting South Africa Stocks
08 Aug

Anglo Revamp, Unity Government Seen Igniting South Africa Stocks

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A business-friendly coalition government and plans by Anglo American Plc to spin off one large subsidiary and possibly list another may trigger a sustained rally in South African stocks, the head of the main local bourse said. Even with the turmoil currently running through global stock markets, these developments are poised to snap South African equities out of more than a decade of torpor caused by economic stagnation and collapsing power and logistics services, said Leila Fourie, the chief executive officer of JSE Ltd., which runs the exchange. Source link lol
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