Meta Platforms Inc. has been named in a lawsuit alleging trademark infringement. What Happened According to a Friday court filing with the United States District Court for the Northern District of California, the DFINITY Foundation claims that Meta “knowingly infringed” its trademark by registering a similar logo. The DFINITY Foundation is the entity behind the Internet…
Facebook Parent Sued by Internet Computer (ICP) Founders Over Infinity Logo
Elon Musk Plans Crusade on Twitter Spam and Bots: New Data Reveals the Size of His Problem
Twitter Inc. said that according to an internal review conducted by the company, false or spam accounts during the first quarter of 2022 represented fewer than 5 percent of its monetizable daily active users (mDAUs). What Happened The social media platform said in the Monday filing with the U.S. Securities and Exchange Commission (SEC) that it had…
No Decline of US Dollar Expected Anytime Soon
May 5, 2022
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Business & EconomyChinaeuroFederal ReserveGerman MarkHK BusinessHong KongJapanese YenMarketsOpinionUS Dollar
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The Federal Reserve has had an artificial demand boost due to likely supply shortages expected as a result of the COVID-19 pandemic leading to a near double-digit inflation, the dollar-decline voices have also re-emerged. Such voices have not been heard for some decades. The first time could date back to the early 1970s when the…
LIVE UPDATES: Russian Governor Reassures Residents After New Explosions in Area Near Ukraine
The latest on the Russia–Ukraine crisis, May 5. Click here for updates from May 4. Russian Governor Reassures Residents After New Explosions in Area Near Ukraine Two explosions took place in the early hours on Monday in Belgorod, a Russian region bordering Ukraine, but there was no damage or security threat, the top official in the area…
LIVE UPDATES: Russia Denies Troops Storming Azovstal, Says Putin Order Still Stands
The latest on the Russia–Ukraine crisis, May 5. Click here for updates from May 4. Russia Denies Troops Storming Azovstal, Says Putin Order Still Stands The Kremlin denied that Russian troops were storming the Azovstal steel plant in Ukraine’s southern port city of Mariupol, where Ukrainian fighters and civilians are trapped, and said humanitarian corridors…
House Republican Says Musk/Twitter Records Must Be Preserved by FTC
WASHINGTON—Representative Jim Jordan, the top Republican on the House of Representatives Judiciary Committee, asked the chair of the Federal Trade Commission (FTC) on Wednesday to preserve its records related to Elon Musk’s pending acquisition of Twitter Inc. The request indicates that Jordan may investigate the FTC’s merger review. Jordan expressed concern about statements by the…
Australian Construction Demand to Fall as Interest Rates Increase: Industry Associations
May 4, 2022
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Asia & PacificAustraliaAustralian Industry GroupBusiness & EconomyeconomyinflationReserve Bank of AustraliaWorld
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Australian industrial peak bodies have anticipated that the latest interest rate hike will drive down demand in the construction industry, with the residential sector expected to be significantly affected. The Australian Industry Group and Housing Industry Association’s performance of construction index for April dropped by 0.6 points to 55.9. A score above 50 indicates an…
Uber Says No Need to Spend More on Labor
Uber has said that they will not need to spend more in order to lure drivers back to the app, attempting to reassure investors after the company’s preeminent competitor, Lyft, said that they would need to invest more heavily in labor costs after an unflattering quarterly earnings report. On Wednesday morning, Uber released its own…
Kigali Amendment Phasing Down HFCs Nears Senate Ratification
May 4, 2022
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Business & EconomyChinaChina Business & EconomyClimate PoliciescongressDemocratsDuPonteconomic policieseconomyEnvironmentHFCsKigali AmendmentMontreal ProtocolPolicies & ImpactsPoliticsRepublicansScienceSpecial TopicsThreat from Communist ChinaUSUS-China relations
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The Senate Foreign Relations Committee voted on May 4 to advance the Kigali Amendment to the Montreal Protocol, moving the United States closer to formalizing the phasedown of hydrofluorocarbons (HFCs) already included in 2020’s American Innovation and Manufacturing Act (AIM). The AIM Act was passed as part of the Consolidated Appropriations Act of 2021 and…
Markets Cheer After Powell Downplays Even Larger Rate Hikes
NEW YORK—The Dow Jones Industrial Average surged more than 900 points and the S&P 500 had its biggest gain in two years Wednesday after Federal Reserve Chair Jerome Powell downplayed the likelihood of an even larger interest rate hike after announcing the sharpest rate increase since 2000. The remarks, which came after the Fed announced…
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