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Google clashes with Brazil over disinformation bill
The Brazilian government accused Google Tuesday of "deceitful and abusive propaganda" against a bill to tackle disinformation online, ordering the US tech giant to stay out of the debate or label its positions as advertising. "No one should be manipulating Brazilians' freedom of expression," Dino told a news conference, accusing Google of abusing its platform to promote its own position.
Fresh rout of US regional banks despite First Republic deal
Shares of US regional banks suffered deep losses on Wall Street Tuesday, dashing hopes that the resolution of First Republic's woes would end the crisis. While the FDIC move prompted a sigh of relief, leading regional banks notably suffered losses on Monday in what turned out to be a forerunner of Tuesday's much worse session.
White House 'will not negotiate' on debt ceiling
President Joe Biden, the Republicans and the US economy were on a disastrous collision course Tuesday after the White House made clear it will not negotiate over extending the nation's debt limit. Republicans, who control the House of Representatives, insist they will only extend the debt limit if Biden first agrees to steep cuts in the federal budget.
EU targets 1 million shells a year as Ukraine saps ammo
The EU will put forward a plan to boost its production capacity of artillery shells to one million a year, officials said Tuesday, as it scrambles to arm Ukraine and refill its own stocks. The EU has already pledged to spend 2 billion euros on providing Ukraine one million artillery shells over the next year by raiding stockpiles and placing joint orders.
ChatGPT sends shares in online learning giants into tailspin
Shares in companies that specialize in publishing school textbooks and offering online classes took a big hit on Tuesday after signs emerged that AI-bots such as ChatGPT were eating into their business.
Nearly 300 arrested in US-Europe dark web drug bust
A multi-continental crackdown has halted a major "dark web" drugs marketplace, with international police arresting 288 suspects and recovering more than 50 million euros ($54.8 million) in cash and virtual currency, Europol said Tuesday.
US lawmakers urge scrutiny of fashion firm Shein over forced labor reports
A bipartisan group of US lawmakers has urged securities regulators to require fashion upstart Shein to attest it does not use forced Chinese labor as a condition of a public offering.
'Bring it on': Emirates airline boss welcomes Saudi competition
The UAE's Emirates airline does not feel threatened by ambitious expansion plans in neighbouring Saudi Arabia and welcomes increased competition, its president said on Tuesday.
Pakistan inflation hits record-high 36.42 percent
Pakistan's year-on-year inflation hit its highest-ever level of 36.42 percent in April, after the government introduced new taxes and raised fuel prices to try to meet International Monetary Fund (IMF) conditions for a crucial bailout. Food prices were up by nearly 50 percent in April from a year earlier, with transport costs 57 percent higher.
AFP
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