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EU accuse Apple of abusing market position for contactless smartphone payments

The European Commission has accused Apple of abusing its market position for contactless smartphone payments. In a preliminary finding, it said the US company may have broken competition law by preventing rivals from accessing its “tap and go” technology. Apple denies the charge and has promised to engage with the Commission. If the charges are […]

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Bitcoin becomes legal tender in Central African Republic

The Central African Republic (CAR) has approved Bitcoin as legal tender. The second country to do so. CAR is one of the world’s poorest countries, but is rich in diamonds, gold and uranium. It has been wracked by conflict for decades and is a close Russian ally, with mercenaries from the Wagner Group helping fight […]

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Top EU lawmakers warn Elon Musk against relaxing Twitter’s content moderation

European Union’s top lawmakers have issued a warning to Elon Musk over his takeover of Twitter. Twitter agreed to Elon Musk’s offer to buy it for $44 billion on Monday. The billionaire has publicly stated his interest in buying the social media platform is rooted in his idea of “free speech.” Musk has previously described […]

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Twitter board reportedly met Elon Musk to discuss takeover offer: Report

The board of Twitter reportedly met Elon Musk over the weekend to explore his $43 billion takeover offer for the social media platform. After the Tesla boss first revealed his bid, Twitter’s management announced a so-called “poison pill” strategy to fend off a potential hostile buyout. Mr Musk plans to finance his bid with the […]

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Tesla profits soar to $3.3 billion in the first 3 months of 2022 as customers pay more amid supply chain shortages

Profits of Elon Musk’s electric car company, Tesla, soared to $3.3 billion in the first three months of the year, as customers proved willing to pay more. The firm’s deliveries were up 68% and would have been higher if not for supply chain shortages, the firm said. Its Shanghai factory was also recently forced shut […]

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Top iPhone supplier suspends production at two factories in China amid strict Covid lockdown

Apple’s top suppliers is stopping work at its factories in and around Shanghai as the city of 25 million people remains under a strict Covid lockdown. Pegatron announced Tuesday that it had suspended production at its facility in China’s largest city, as well as the nearby city of Kunshan, until further notice. “The date of […]

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Visa, Mastercard suspend operations in Russia over its invasion of Ukraine

U.S. payments firms Visa Inc and Mastercard Inc on Saturday said they were suspending operations in Russia over the invasion of Ukraine, and that they would work with clients and partners to cease all transactions there. Within days, all transactions initiated with Visa cards issued in Russia will no longer work outside of the country […]

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Amazon is shutting down all its physical Amazon Books, 4-star and Pop Up shops

Amazon is shutting down all its Amazon Books physical bookstores, as well as its Amazon 4-star and Amazon Pop Up shops, which sold a variety of electronics and other hot items. The closures affect 68 stores across the United States and United Kingdom, Amazon said. Closure dates will vary by location and Amazon said it […]

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Exxon Mobil to exit Russia oil and gas operations, leaving $4 billion in assets

Exxon Mobil, American multinational oil and gas corporation said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment as a result of Moscow’s invasion of Ukraine. The decision will see Exxon pull out of managing large oil and gas production facilities on Sakhalin […]

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Russia’s Invasion Of Ukraine: Apple to halt all product sales and limit services in Russia

Apple has become the latest major firm to halt all product sales in Russia, in a widening corporate backlash to the country’s invasion of Ukraine. The iPhone giant said it was “deeply concerned” about the Russian invasion and stands with those “suffering as a result of the violence”. Apple Pay and other services such as […]

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BMW to suspend exports, deliveries and stop local production in Russia amid its invasion of Ukraine

German automaker BMW suspended deliveries and stopped production efforts in the luxury maker’s factory in Kaliningrad and won’t approve any more exports for Russia. Only a month ago, BMW said it will continue its partnership with Avtotor, which has been in force since 1999 and will keep making X5s, X6s, X7s, and the 5 Series […]

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Toyota suspends all factory operations in Japan after suspected cyber attack

Toyota will suspend all factory operations in Japan on Tuesday, losing around 13,000 cars after a company supplying plastic parts and electronic components was hit by a suspected cyber attack. No information was immediately available about who was behind the attack or the motive. The attack comes just after Japan joined Western allies in clamping […]