Category: Companies

South Korea Fines Tesla $2.2 Million for Exaggerating Driving Range of EVs

January 4, 2023
antitrustBusiness & MarketsCompaniesfailingSouth Koreatesla
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SEOUL—South Korea’s antitrust regulator said it would impose a 2.85 billion won ($2.2 million) fine on Tesla Inc. for failing to tell its customers about the shorter driving range of its electric vehicles (EVs) in low temperatures. The Korea Fair Trade Commission (KFTC) said that Tesla had exaggerated the “driving ranges of its cars on…

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Stocks Creep Higher as Inflation Data Offers Hope Ahead of Fed

January 4, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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SINGAPORE/LONDON—European and Asian shares rose on Wednesday thanks to positive news about inflation and China’s strict anti-COVID measures, while the dollar backpedaled as investors await minutes from the Federal Reserve’s most recent meeting. The pan-European STOXX 600 was up 0.9 percent by 0835 GMT as a lower inflation reading from France boosted sentiment, adding to…

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Employers of Foreign Workers to Pay Higher Visa Fees Under DHS Proposal

January 4, 2023
Business & MarketsCompaniesDHSeconomic policieseconomyExecutive BranchImmigrantsPoliticsUSUS Newsvisa
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The Department of Homeland Security (DHS) has proposed increasing the fees paid by companies that employ immigrants in an effort to boost revenue for the United States Citizenship and Immigration Services (USCIS), from around $4.5 billion a year to roughly $6.4 billion a year. The proposed fee update (pdf) was announced by USCIS, the agency that handles…

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Tesla Shares Tumble After Company Misses Delivery Target

January 3, 2023
Business & MarketsCompaniesMarketsstocksteslaUS
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DETROIT—Shares of Tesla tumbled more than 12 percent Tuesday on the first full day of trading since the company announced 2022 delivery numbers that fell short of targets. The electric vehicle and solar panel maker’s stock closed at $108.10, and it’s down just under 70 percent since the start of last year. The stock hit…

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Kentucky Lists BlackRock, JPMorgan Chase for Divestment Over ‘Ideological’ Energy Boycott

January 3, 2023
BlackRockBusiness & Marketscancel cultureCompanieseconomic policieseconomyenergyFeatured Topicsfossil fuelInvestmentKentuckyLocal NewsPolicies & ImpactsRegional-Local NewsUSUS News
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The State of Kentucky on Tuesday released a list of 11 financial companies that included BlackRock and JPMorgan Chase, warning that they are at risk of divestment because of their ideologically driven boycott of the fossil fuel industry. “When companies boycott fossil fuels, they intentionally choke off the lifeblood of capital to Kentucky’s signature industries,”…

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Southwest Airlines Is Sued for Not Providing Refunds After Meltdown

January 3, 2023
Business & MarketsCompaniesexpensepassengersrefundsreimbursementsSouthwest Airlines
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NEW YORK—Southwest Airlines has been sued by a passenger who said it failed to provide refunds to passengers left stranded when an operational meltdown led the carrier to cancel more than 15,000 flights late last month. In a proposed class action filed on Dec. 30 in New Orleans federal court, Eric Capdeville accused Southwest of…

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Security Loophole in Google Home Speakers Let Hackers Snoop on Private Conversations

January 3, 2023
Business & MarketsCompaniesCrime and IncidentseconomyGoogle HomehackersMedia & Big TechTechTech NewsUS
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It was recently revealed that a security loophole within Google Home speakers allowed hackers to snoop on conversations. A bug allowed hackers to install a backdoor account on a Google Home smart speaker device and use it via remote control to eavesdrop on unsuspecting owners by accessing its microphone feed, reported Bleeping Computer. Security researcher Matt…

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4 Newspapers in Alabama, Mississippi to End Print Editions

January 3, 2023
Business & MarketsCompaniesMedia & Big TechnewspapersRegional-Local NewsUS
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For readers of three newspapers in Alabama and one in Mississippi, next month will mark the end of an era of print journalism. Alabama Media Group (AMG) announced in November that publication of four print editions will halt on Feb. 26 to move fully digital. “We remain deeply committed to serving our local communities and…

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Twitter Sued for Allegedly Not Paying Rent for California Office

January 3, 2023
Business & MarketsCaliforniaCompaniesLocal NewsMedia & Big TechNorthern CaliforniaRegional-Local NewsTwitterUSUS News
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Twitter has been sued for allegedly not paying rent for an office in San Francisco. The landlord of the office filed a complaint for breach of lease against Twitter, which is headquartered in California, in state court on Dec. 29, 2022. Twitter was alerted in mid-December that it owed approximately $136,260 in rent and that,…

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World Markets Mostly Gain Ahead of Fed Report, US Jobs Data

January 3, 2023
Business & MarketsCompanieseconomic policieseconomyenergyGold and CommoditiesinflationMarketsrecessionstocksUS
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BEIJING—Global stock markets and Wall Street futures were higher Tuesday ahead of updates on U.S. jobs amid fears of a possible global recession. Frankfurt, Shanghai, and Hong Kong advanced. Seoul declined. Oil prices rose. Coming off a year of big declines for major stock markets, traders worry the Federal Reserve and other central banks might…

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