Toyota Motor Corp. found an instance of improper crash tests in one of its subsidiary companies and suspended shipments, the company said Friday. Toyota subsidiary Daihatsu copied the safety test results for a part of the vehicle, instead of performing new tests, according to the company. It is not clear how the deficiency was initially…
Jeffrey Epstein Blackmailed Bill Gates, Microsoft Co-Founder Says
Sex offender Jeffrey Epstein blackmailed Bill Gates, one of the wealthiest men in the world, the co-founder of Microsoft has said through a spokesperson. “Epstein tried unsuccessfully to leverage a past relationship to threaten Mr. Gates,” a spokeswoman for Gates told the Wall Street Journal. Gates has acknowledged meeting with Epstein, who pleaded guilty to…
Wall Street Opens Flat Amid Debt Limit Talks; Micron Slides
Wall Street’s main indexes opened flat on Monday as markets awaited updates on lawmakers’ talks about raising the U.S. debt ceiling, while shares of Micron fell following China’s ban on its memory chips. The Dow Jones Industrial Average fell 18.09 points, or 0.05 percent, at the open to 33,408.54. The S&P 500 opened lower by…
Instagram Back Up After Global Outage Affecting Thousands of Users
Meta Platform Inc.’s Instagram was back up for most users, the company said on Sunday, after a technical issue that disrupted services to thousands of people had been resolved. “Earlier today, a technical issue caused some people to have trouble accessing Instagram. We resolved the issue as quickly as possible for everyone who was impacted,”…
JPMorgan Expects $3 Billion Income Boost From First Republic Deal
NEW YORK—JPMorgan Chase & Co.’s net interest income would rise by $3 billion this year due to its purchase of failed First Republic Bank, according to a presentation published ahead of its investor day on Monday. The largest U.S. lender agreed to take into its books $173 billion of the failed bank’s loans, $30 billion…
Trump’s Truth Social Sues Washington Post for Over $3 Billion
May 22, 2023
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Business & MarketsCompaniesdefamationDonald TrumpMedia & Big TechTruth SocialUSUS NewsWashington Post
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Former President Donald Trump’s social media company has sued Jeff Bezos-owned The Washington Post for defamation and is seeking $3.78 billion in damages over an article that allegedly harmed Trump’s company’s reputation and caused “enormous loss.” The lawsuit was filed by Trump Media and Technology Group (TMTG), which owns the social media platform Truth Social,…
Stock Market Today: Global Shares Mostly Rise Despite Worries About US Debt Talks
May 22, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsstocks
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TOKYO—Global shares mostly drifted higher Monday as investors fretted over whether the United States government will be able to reach a deal to avoid a federal default. France’s CAC 40 inched down less than 0.1 percent in early trading to 7,489.72, while Germany’s DAX slipped 0.1 percent to 16,261.45. Britain’s FTSE 100 gained 0.3 percent…
National Retail Group Says 42 Percent Increase to Workcover a ‘Bitter Pill to Swallow’
Australia’s peak retail body, the Australian Retail Association, says an increase in WorkCover premiums is the last thing businesses need amid rising inflation and a crime wave targeting small businesses. On May 19, the Victorian Labor government announced a 42 percent increase to the Workcover premium paid by the state’s businesses into joint funds used…
Financial Institutions AMP and MLC Fined Millions for Breaching Customers’ Trust
May 21, 2023
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ASICAustraliabreach of trustBusiness & MarketsCompaniesfinehealth insuranceInvestmentpersonal financeWorld
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Australia’s Federal Court has issued AMP Group with a $24 million (US$16 million) fine for charging over 2000 deceased customers life insurance premiums and advice fees for nearly a decade. Additionally, the court has also fined MLC $10 million (US$6.6 million) for failing to pay benefits to nearly 120 injured or disabled customers it had promised…
Bud Light Distributor Sends Out Public Plea to Bring Back Customers
A Bud Light distributor in Alabama issued a public plea to bring back customers who boycotted the brand after it produced a can with transgender influencer Dylan Mulvaney’s face. Steve Tatum, with the Montgomery-based Bama Budweiser distributor, deployed a radio advertisement for several area stations, pleading with customers to purchase Bud Light again. In April…
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