News Archives - Page 40 of 44

Big Tech Bill Approved by Senate Panel despite Pushback from Silicon Valley

The U.S. Senate Judiciary Committee has voted to pass a major bill placing limits on Big Tech, despite pushback from Silicon Valley lobbyists. This week, the committee voted 16-6 to move forward with the bill that defies the powerful lobbyists of Silicon Valley. Top executives like Apple Chief Executive Tim…

US and UK in Talks to Resolve Dispute over Steel and Aluminum Tariffs

Officials from the United States and the United Kingdom have entered into joint talks in an effort to resolve the trade dispute over tariffs on U.S. steel and aluminum. Representatives agreed to resolve the dispute in a joint virtual conference beginning on Jan. 20. American representatives are keen on removing…

Djokovic Owns 80% Stake in Biotech Company Developing Non-Vaccine Covid Treatment, Report Shows

Tennis star Novak Djokovic and his wife own an 80 percent stake in a biotech company that is developing a non-vaccine-based treatment for COVID-19, according to a new report. The Djokovics are the majority shareholders in a Danish biotech firm QuantBioRes, the company’s boss said on Wednesday. The Serbian native…

CEOs of Multiple Major US Airlines Warn 5G Could Ground Planes

Multiple CEOs from several major U.S. airlines have warned that 5G technology could cause huge disruptions to air travel by grounding planes. On Monday, a group of top airline executives warned that the nation’s commerce will essentially “grind to a halt” and there will be “significant operation disruptions” to air…

FAA Sets New Rules for Some Boeing 787 Landings Near 5G Service

Federal safety officials have released new sets of rules for some Boeing 787 planes landing in areas that have 5G service. The Federal Aviation Administration (FAA) is directing operators of some Boeing planes to adopt extra procedures when landing on wet or snowy runways near impending 5G service. According to…

Insurance Companies Hit With $44 Billion in Losses during Pandemic

Insurance companies across America have been hit with $44 billion in losses during the pandemic. Insured losses and risks of newer variants emerging increased the strain on risk management companies around the world. The hit was revealed in a recent report by international insurance intermediary group Howden. Although enormous losses…

Weekly Unemployment Claims Soar, Indicating Omicron Hit to Jobs Recovery

The number of weekly unemployment claims for American workers has spiked, indicating that the recent Omicron surge has hit the U.S. jobs recovery hard. In the first week of the year, the number of U.S. workers filing weekly jobless claims—a proxy for layoffs—rose by 23,000 from the prior week. The…

Bitcoin Outflows over $100 Million for January First Week, Crypto Market over $200M

During the first week of the year, cryptocurrencies suffered a total outflow of value equivalent to $207 million, according to a report by digital assets hedge fund CoinShares. The report indicates a persistent bearish outlook for January. This is the fourth straight week of outflows, now totaling $465 million and…

Novartis Seeks Emergency Use FDA Approval for New Covid Therapy

Swiss pharmaceutical corporation Novartis has announced that positive data from a clinical trial of COVID-19 therapeutic drug ensovibep has prompted the firm to seek emergency use approval from the United States Food and Drug Administration (FDA). The comapny wishes exercise an option to in-licence the antiviral from development partner Molecular…

European Central Bank Policymakers Surprised by Record High Inflation

Policymakers at the European Central Bank (ECB) say they are surprised by Europe's inflation rate soaring to a record high last month. Eurozone inflation hit a new record high of 5 percent in December 2021. The spike raises more questions about the competency of the ECB monetary policy, which claimed…