Ohio’s attorney general on Monday filed a lawsuit against Meta, formerly known as Facebook, accusing it of violating federal securities law by misleading investors in claiming that its products don’t harm children’s health and wellbeing. Attorney General Dave Yost filed the lawsuit (pdf) on behalf of the state’s pension fund—the Ohio Public Employees Retirement System (OPERS)—and…
Ohio AG Sues Facebook for Violations of Securities Law Amid Allegations of Harm to Children
November 15, 2021
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Adelaide Suspends Police Access To Facial Recognition Tech
South Australia (SA) police will not be granted access to facial recognition services embedded in a new $3 million surveillance system due to concerns about indiscriminate use and lack of regulation. The federally-funded system—which also features object and license plate recognition—will cover the City of Adelaide following the retirement of existing ageing infrastructure. The rollout…
Samsung’s Lee Visits US Ahead of Likely $17 Billion Chip Plant Decision: Media
November 15, 2021
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Asia & PacificBusiness & EconomyBusinesses in COVID-19CanadachipCompanieseconomyJay Y. LeemediaplantSamsungTechTech NewsUSWorld
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SEOUL—Samsung Electronics vice chairman Jay Y. Lee is visiting North America in his first high-profile trip after serving jail time for bribery, with a decision imminent on the company’s planned $17 billion U.S. chip plant. Lee left Seoul on Sunday and his trip to Canada and the United States is expected to coincide with a…
As UAE Waits for US F-35s, Russia Pitches New Warplane in Dubai
DUBAI—Russia showed off a prototype of its new fifth-generation warplane at the Dubai Airshow on Sunday as the United Arab Emirates’ deal to buy American F-35 fighter jets makes slow progress. It was the first time the Sukhoi Su-75 Checkmate, unveiled in July, had been shown outside Russia, and according to the Russian state news…
Japan Looking to Beef Up Chip, Storage Battery Sectors as Part of Stimulus Plan
November 15, 2021
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TOKYO—Japan’s economic stimulus package will feature a plan to urgently strengthen the chip industry while the government will also formulate a strategy for storage batteries, trade minister Koichi Hagiuda said on Monday. Hagiuda unveiled the plan days before Prime Minister Fumio Kishida is set to announce a stimulus package worth “several tens of trillion yen”…
Futures Rise on Tech Strength; Tesla Extends Losses
November 15, 2021
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U.S. stock index futures rose on Monday as major technology stocks advanced, while investors awaited a slew of retail earnings and economic data this week to gauge the health of consumer spending. The three major Wall Street indexes had fallen between 0.3 percent and 0.7 percent last week on concerns over high inflation and weakening…
Wall Street Supported by Tech; Tesla Extends Losses
November 15, 2021
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Business & EconomyBusinesses in COVID-19Companieseconomic policiesEconomieseconomyGold & CommoditiesinflationInvestmentLocal NewsMarket WatchMarketsMedia & Big TechNew YorkNY NewsRegional-Local NewsstrengthTechteslaUSUS NewsWall Street
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U.S. stock indexes were buoyed by technology stocks on Monday as concerns over rising inflation saw investors shift to economically resilient sectors ahead of major retail earnings and data this week. The S&P technology and communication services sectors were the best performers in early trade, adding 0.4 percent and 0.6 percent, respectively, while Meta Platforms…
Pledging to Retain Stimulus, BOJ’s Kuroda Projects Inflation Near 1 Percent Mid-Next Year
November 15, 2021
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Asia & PacificbankBusiness & EconomyBusinesses in COVID-19Companieseconomic policiesEconomiesGold & CommoditiesHaruhiko KurodainflationInternationalJapanTechTech NewsWorld
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TOKYO—Bank of Japan Governor Haruhiko Kuroda expects inflation to accelerate to around 1 percent in the first half of next year as the economy recovers to pre-coronavirus levels, pledging to maintain ultra-easy policy in hopes of a consumption-driven recovery. With inflation still short of its 2 percent target, the BOJ will maintain its “powerful” monetary…
Hackers Compromise FBI Email System, Spam at Least 100,000 Recipients
Hackers have compromised an external email system of the FBI, a watchdog group that tracks spam and similar cyber threats announced on Nov. 13. “We have been made aware of ‘scary’ emails sent in the last few hours that purport to come from the FBI/DHS [Department of Homeland Security],” the group, Spamhaus Project, wrote on Twitter….
Toyota to Develop Alternative Fuels With Other Japanese Vehicle Makers
OKAYAMA, Japan—Toyota Motor Corp said on Saturday it will partner with four other Japanese vehicle makers to explore the viability of alternative green fuels for internal combustion engine cars, including hydrogen and synthetic fuels derived from biomass. The companies, which in addition to Toyota include Mazda Motor Corp, Subaru Corp, Yamaha Motor and Kawasaki Heavy…
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