International and regional news from around the globe.
A substantial quantity of Pfizer’s Paxlovid, a crucial antiviral drug for Covid-19, has gone unused and expired in Europe, resulting in significant financial losses for purchasers. Stringent restrictions on the eligibility for receiving the medication have led to millions of doses being wasted, in stark contrast to the drug’s accessibility in the United States. In…
Europe’s largest parking app operator, EasyPark Group, has voluntarily reported a security breach to information regulators in both the EU and the UK. The incident involved unauthorized access by hackers, resulting in the theft of customer information. EasyPark Group, which owns brands like RingGo and ParkMobile, disclosed that the compromised data included customer names, phone…
On December 8, a preliminary agreement was reached in Europe regarding significant European Union regulations concerning the utilization of artificial intelligence (AI), encompassing the governmental deployment of AI in biometric surveillance and the regulation of AI systems like ChatGPT. This political understanding marks a significant step, positioning the EU to potentially be the first major…
European banks are poised to enter the upcoming year with only a slightly reduced capital buffer, indicating their ability to sustain recent dividend distributions despite regulatory directives for increased reserves. According to calculations by Bloomberg, the top 10 banks that have disclosed their regulatory-mandated capital needs for the next year currently maintain an excess of…
On one of the most hectic shopping days of the year, workers employed by the American e-commerce giant Amazon (AMZN.O) initiated strikes at various locations across Europe on Friday, expressing their dissent over the company’s labor conditions. Protests and strikes are scheduled in more than 30 countries, starting from Black Friday—the day following the U.S….
According to the Institute of International Finance, markets like the United States and Japan were the main drivers of the growth in global debt, which reached a record $307 trillion in the second quarter of the year despite rising interest rates restricting bank credit. The amount of global debt in dollars increased by $10 trillion…
In a statement on Tuesday, the US’s largest bank, JP Morgan & Co., announced that it has increased its stake in C6, a Brazilian digital bank, to 46% from 40%, without disclosing the financial terms. Since 2021, the C6 had expanded their clients to 25 million from 8 million, the banks said, and when JPMorgan…
China is considered the world’s largest mobile market, for which the chief executive of Samsung Electronics said they are “going in the right direction” in China. They have boosted their premium offers and made partnerships with regional content companies in the process of raising their lagging market share. According to TM Roh, the head of…
On Monday, oil prices spiked after the revolt by Russian mercenaries. The revolt raised worries about the political instability in Russia and its potential impact on the oil supply from one of the world’s biggest producers. Both of the benchmarks, U.S. West Texas Intermediate crude futures and Brent, gained 0.4% on Monday, and in early…
The bank released a statement on Thursday saying that the employees will be held accountable for adhering to the norms of the hybrid work model at Citigroup. According to the report released by Bloomberg, the bank will monitor whether the employees are meeting the requirement of working for at least three days a week in…
