Category: Business & Markets

Former ByteDance Executive Says Chinese Communist Party Tracked Hong Kong Protesters via Data

HONG KONG—A former executive at ByteDance, the Chinese company which owns the short-video app TikTok, says in a legal filing that some members of the ruling Chinese Communist Party (CCP) used data held by the company to identify and locate protesters in Hong Kong. Yintao Yu, formerly head of engineering for ByteDance in the United…


No Injuries After Planes Collide on Ground at Tokyo’s Haneda Airport: NHK

TOKYO—Some flights were delayed at Tokyo’s Haneda airport on Saturday after two planes appeared to have collided on the ground near a taxiway, public broadcaster NHK reported, citing Japan’s transport ministry. No injuries occurred, NHK and one of the airlines said, but the incident led to the closure of one of four runways at the…


Spike in US Corporate Bankruptcies, Number of Filings Highest in Over a Decade

Corporate bankruptcies in the United States rose in May, based on the latest reports, with the first five months of 2023 seeing the highest number of filings since 2010. There were 54 corporate bankruptcy filings in May, up from 52 in April, according to a June 6 report published by S&P Global. In the first…


Zuckerberg: Establishment Asked to Censor COVID-19 Posts That Ended Up Being True

Big Tech firms were asked to censor COVID-19 information that ended up being true, Meta CEO Mark Zuckerberg has assessed. “Just take some of the stuff around COVID earlier in the pandemic where there were real health implications, but there hadn’t been time to fully vet a bunch of the scientific assumptions,” Zuckerberg, whose company…


Apple, Amazon Must Face Consumer Lawsuit Over IPhone, iPad Prices: US Judge

Apple and Amazon.com must face a consumer antitrust lawsuit in U.S. court accusing them of conspiring to artificially inflate the price of iPhones and iPads sold on Amazon’s platform, a federal judge in Seattle ruled on Thursday. In his ruling, U.S. District Judge John Coughenour rejected bids from Apple and Amazon to dismiss the prospective…


Democrats Push Bill to Let Government Ignore Debt Limit

Democrats have introduced a bicameral proposal to overhaul the debt ceiling process, leaning heavily into the recent default scare to push a bill that would essentially let Treasury ignore the debt cap and continue writing cheques with no limit. The Debt Ceiling Reform Act, introduced jointly on Friday by Rep. Brendan Boyle (D-Pa.) and Sen….


Jury Returns $63 Million Verdict After Finding Chevron Covered up Toxic Pit on California Land

SANTA BARBARA, Calif.—A California jury has returned a $63 million verdict against Chevron after finding the oil giant covered up a toxic chemical pit on land purchased by a man who built a house on it and was later diagnosed with a blood cancer. Kevin Wright, who has multiple myeloma, unknowingly built his home directly…


Binance.US Halts Dollar Deposits, Robinhood Delists Tokens After SEC Crackdown

The U.S. affiliate of Binance said it was halting dollar deposits, while trading platform Robinhood Markets said it was delisting some crypto tokens, after the U.S. securities regulator stepped up its crackdown on the crypto sector. Binance.US, the purportedly independent partner of Binance, said in a tweet on Thursday that its banking partners were preparing…


IN-DEPTH: Shareholder Votes Show Support for ESG Falling

This year’s spring season of shareholder voting is leading some to believe that the tide may be turning against the left-wing corporate pressure campaign that goes under the awkward moniker of Environmental, Social and Governance, or ESG. “The big story this year is the drop in support for ESG proposals,” Scott Shepard, a fellow at…


Republicans Unveil Major Tax Cut Proposal

House Republicans have unveiled a major tax cut proposal as part of a broader package of bills that aims to grow jobs, bolster small businesses, and provide relief to inflation-squeezed households by leaving more of their hard-earned dollars in their wallets. The tax cut proposal comes as part of a trio of bills introduced on…