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Nepalis fight TikTok ban in court, or ignore it entirely
When Nepal suddenly announced a ban on TikTok last year, lawyer Sunil Rajan Singh was determined to fight what he said was a government effort to hide its wrongdoings. Others like Singh are determined to fight.
Asian markets track Wall St down ahead of Fed decision
Asian stocks sank in holiday-thinned trade Wednesday, tracking a sharp sell-off on Wall Street after fresh US data dealt another blow to hopes the Federal Reserve will cut interest rates this year. That provided another hammer blow to hopes the Fed will cut rates this year, with bets already reduced to just one by January -- compared with an expected six at the start of 2024.
Starbucks points to weaker consumer as profit falls
Starbucks reported lower profits on falling sales on Tuesday as the coffee giant pointed to weakening consumer sentiment and lackluster conditions in China as factors behind an earnings miss. Starbucks has taken note of a large number of cases where consumers begin digital orders and do not follow through with a transaction.
Amazon triples quarterly profit as cloud surges
E-commerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived. The embrace of AI has boosted sales of its key cloud services, such as Azure, a rival of AWS. Like most tech titans, Amazon faces increased regulatory scrutiny.
US lawmakers accuses oil giants of climate 'doublespeak'
The oil industry's public relations strategy has evolved from climate science denial to "disinformation and doublespeak" to counter meaningful environmental policies, US congressional Democrats said in a report Tuesday.
Vienna conference urges regulation of AI weapons
The world should establish a set of rules to regulate AI weapons while they're still in their infancy, a global conference said on Tuesday, calling the issue an "Oppenheimer moment" of the time. He warned now was the "time to agree on international rules and norms to ensure human control".
Tesla to cut hundreds more jobs in Musk cost push: report
Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a US media report. Tesla last week reported a 55 percent drop in quarterly earnings to $1.1 billion, reflecting a decline in EV sales in a market with intensifying competition.
Gaza boycott continues to weigh on McDonald's sales
McDonald's reported a modest increase in quarterly profits Tuesday despite a boycott stemming from the Middle East conflict expected to drag on sales for the foreseeable future. "The continued impact of the war in the Middle East more than offset positive comparable sales in Japan, Latin America and Europe," McDonald's said of the division.
G7 to phase out coal-fired power plants by mid-2030s
G7 ministers agreed a timeframe Tuesday for phasing out coal-fired power plants, setting as a goal the mid-2030s, in a move hailed as significant by some environmentalists but slammed as "too late" by others. Some countries, and many environmentalists, had been pushing for a 2030 limit, but Japan -- which relies heavily on coal -- was reluctant to set a date.
AFP
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