AMSTERDAM—The European Commission said on Tuesday it was too early to comment on the deal Tesla Chief Executive Elon Musk has struck to buy social media site Twitter but recalled that the bloc’s digital services rules apply to all major platforms. “Our Digital Services Act applies to all major platforms, to ensure their power over…
EU Says Its Rules Apply to All Online Platforms, ‘Mr Musk Knows This Well’
April 27, 2022
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Swiss Gold Exports to the United States Rocketed in March
LONDON—Swiss shipments of gold to the United States surged in March to their highest since May 2020, Swiss customs data showed, as investors spooked by Russia’s invasion of Ukraine and the threat of a global economic slowdown stocked up on bullion. Switzerland’s exports to Britain, which like the United States is a centre for gold…
Walgreens, Teva Accused of Fueling Opioid Addiction in Quest for New Markets
Walgreens Boots Alliance and Teva Pharmaceutical Industries Ltd. ignored the health risks when they created new markets for opioids, a lawyer for the city of San Francisco told a judge on Monday during opening statements of the first trial to target manufacturers, distributors, and pharmacies over the addictive pain medicines. Richard Heimann, a lawyer for…
Japan Jobless Rate Hits Lowest in Almost 2 Years, Economic Outlook Still Shaky
TOKYO—Japan’s jobless rate unexpectedly fell to 2.6 percent in March, hitting the lowest rate since April 2020, although the number of furloughed workers remained high due to effects of the pandemic, official data showed on Tuesday. The world’s third-biggest economy has been struggling to drive a sure-footed recovery from the COVID-19 pandemic, with the Ukraine…
Global Airline Capacity Hits 2022 High as China Demand Rebounds: OAG
Global airline capacity has surged to its highest level in 2022 this week because of a rebound in Chinese domestic demand despite extended lockdowns in Asia’s biggest aviation market, travel data firm OAG said on Tuesday. Asian jet fuel refining margins, which have more than doubled in the past two months, were at $30.04 a…
India Says Tesla Should Not Import Cars From China for Domestic Sale
NEW DELHI—U.S. electric vehicle maker Tesla Inc. is welcome to set up shop in India, make cars there for sale and export them, but must not import cars from China, the transport minister said on Tuesday. “Making in China and selling here is not a good proposition,” the minister, Nitin Gadkari, said during a government…
ECB Has Room for 2–3 Rate Hikes This Year, Says Kazaks
FRANKFURT—The European Central Bank should raise interest rates soon and has room for up to three hikes this year, ECB policymaker Martins Kazaks told Reuters, joining a chorus of policymakers calling for a swift exit from stimulus. The ECB has been rolling back support at a glacial pace for months but a surge in inflation…
Chip Startups Using Light Instead of Wires Gaining Speed and Investments
Computers using light rather than electric currents for processing, only years ago seen as research projects, are gaining traction and startups that have solved the engineering challenge of using photons in chips are getting big funding. In the latest example, Ayar Labs, a startup developing this technology called silicon photonics, said on Tuesday it had…
Indonesia May Widen Palm Export Ban to Combat Shortages
JAKARTA–Indonesia will ban exports of RBD palm olein from midnight on April 28 until prices of bulk cooking oil drop to 14,000 rupiah per litre, a senior minister said on Tuesday, while a document showed it was prepared to widen the ban if there are shortages. The export ban will be imposed on all producers…
Qatar Airways Suffers Setback in Feud With Airbus
LONDON—A British judge on Tuesday denied a bid by Qatar Airways to reinstate a jet contract cancelled by Europe’s Airbus in the latest twist to a dramatic feud playing out in UK courts. The companies have been locked in a safety dispute for months on Europe’s A350 long-haul jet. Their unprecedented bust-up widened in January…
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