Cryptocurrency exchange operator Binance will close its Australian derivatives business after relinquishing a financial services licence on Thursday amid a regulatory probe into its operations. The Australian Securities and Investment Commission (ASIC) has been conducting a “targeted review” of Binance, first confirmed in February, when Binance said it had misclassified some retail investors as wholesale. […]
A regional Australian mayor said he may sue OpenAI if it does not correct ChatGPT’s false claims that he had served time in prison for bribery, in what would be the first defamation lawsuit against the automated text service. Brian Hood, who was elected mayor of Hepburn Shire, 120km (75 miles) northwest of Melbourne, last […]
Vietnam’s government said it will probe TikTok’s operations in the country from May, in a bid to ensure the video platform complies with regulations on content management, tax payments and commercial policies. The popular Chinese-owned application, that carries bite-sized videos, has recently allowed “toxic, offensive, false and superstitious” content on its platform, ministry representative Le […]
The collapse of crypto exchange FTX and its grant-making body, the FTX Future Fund, has left some researchers at top universities without the funds they were promised and others trying to repay grants before they could be ordered to. Launched in February 2022, the FTX Future Fund was part of the FTX Foundation, the philanthropic […]
Among the French business executives travelling to Beijing with President Emmanuel Macron, the mood was cautiously sanguine on the thawing post-pandemic trade prospects with China, with some rejecting American-led calls for ‘decoupling’. Macron travelled to China with a 50-strong delegation of business leaders including the CEOs of Airbus, Alstom and EDF, raising eyebrows among some diplomats […]
Oil remained on track for weekly gains on Thurday, with further production cuts targeted by OPEC+ and a drop in U.S. oil inventories overshadowing fears over global economic growth. Brent and U.S. crude have both gained more than 6% this week, heading for a third weekly gain after the Organization of the Petroleum Exporting Countries […]
Apple Inc on Wednesday revealed the look of its first retail store in India, as several people tried to catch a glimpse outside the store’s black and yellow artwork patterned after Mumbai’s iconic taxis. The store is still in barricades and is likely to open this month, a person familiar with the matter told Reuters. India […]
Amazon.com Inc said it would reduce employee stock awards, a part of its compensation plan, as the e-commerce giant navigates an uncertain economy. “We made the decision to reduce RSU (restricted stock units) awards in the final outlook year by a small amount (other years are not impacted),” an Amazon spokesperson said in an emailed statement, […]
Banking sector turmoil has not dented demand for equities, with MSCI’s world stock index up 7% so far this year. Hopes that the Federal Reserve and others could soon pause the most aggressive interest rate hiking cycle in decades has supported stocks even as sentiment more generally has been rattled by the failures of two U.S. lenders and […]
There is growing interest globally in responsible investing, whereby institutional investors incorporate environmental, social, and governance (ESG) issues into their investment processes. For instance, the Global Sustainable Investment Alliance estimates that in 2020, assets amounting to $35 trillion were invested according to ESG principles, a figure that has almost tripled since 2012 (GSIA 2013, 2021). […]
