Monday, 10 May 2021

Business

Nasdaq loses 2% with tech sell-off

WASHINGTON – The Nasdaq closed lower on Wednesday with a sell-off in technology stocks. The tech-heavy index lost 265 points to end the day at 12,961, with GameStop plummeting 33% and AMC Entertainment sliding 15%. The two companies were popular in January when a group of small investors coordinated on ...

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Tesla stans dunk on Porsche Taycan’s slow software update

LONDON – The first electric Porsche Taycans are due for a software update, but it won’t be quick. Drivers won’t be able to push a button on the in-car screen, connect to WiFi, and update the car while in their own garage. Instead, the $100,000+ electric vehicle needs to be brought into ...

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Bitcoin could surge to $300,000

LONDON – Bitcoin has hit its record price above $60,000 at the beginning of the month – now the cryptocurrency trades at around $57,000. Bitcoin’s value could surge as high as $300,000 with possible gains up to $100,000 this summer, the co-founder and former CEO of China-based crypto exchange BTCC, ...

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First tweet fetches $2.9 mn at auction

SAN FRANCISCO – The first message ever fired off at Twitter sold for $2.9 million when its sender Jack Dorsey accepted the winning bid for the collectible as a “non fungible token” or NFT at an auction. “Jack accepted the offer from sinaEstavi for $2,915,835.47,” read a tweet from the ...

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AstraZeneca says US trial data shows vaccine 79% effective

LONDON – AstraZeneca says advanced trial data from a U.S. study on its Covid vaccine shows it is 79 per cent effective. Although AstraZeneca’s vaccine has been authorised in more than 50 countries, it has not yet been given the green light in the US. The US study comprised 30,000 ...

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UK to launch 5-year Islamic bond in coming weeks

LONDON  – Britain will launch a five-year Islamic sukuk bond in the coming weeks, the United Kingdom Debt Management Office said on Monday, following up on a previous five-year issue which took place in 2014 and raised 200 million pounds ($277 million). The DMO said HSBC, CIMB Investment Bank, Dubai ...

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Suspend Uber’s facial recognition checks in UK: Drivers’ union

LONDON – A drivers union in the UK has called for Microsoft to suspend the use of its facial recognition technology by ride-hailing platform Uber after several drivers were misidentified and their licenses were revoked by Transport for London (TfL). According to a report in TechCrunch, the App Drivers & ...

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Hackers hit computer maker Acer with $50 million ransomware attack

TAIPEI – Taiwanese electronics and computer maker Acer has been hit by a ransomware attack where the hackers are demanding $50 million, the largest known ransom to date. According to Bleeping Computer, hackers have accessed Acer documents that include financial spreadsheets, bank balances and bank communications, reportedly compromising its network ...

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