Month: September 2022
Patagonia uses fashion to fight climate change
A rock climbing fanatic, he started out as making metal climbing spikes for himself and his friends to wedge into rocks, before moving into clothing and eventually creating a hugely successful sportswear brand with a cult following. The billionaire founder of the outdoor fashion brand Patagonia has given away his company to a charitable trust.
$44bn Musk deal approved
Twitter’s shareholders have voted to approve a deal with Elon Musk to buy the company for $44bn .It means Twitter will now try to force Elon Musk to buy the company in the courts. In April, Twitter agreed to sell the company to the world’s richest person, Elon Musk. However, the deal soured after Mr
Google loses appeal over anti-trust Android fine
Google acquired the mobile phone operating system developer, which today powers roughly 70% of the world’s mobile phones, in 2005 for $50m . An European Union court has largely upheld a record fine against Google for using the Android platform to cement its search engine’s dominance. It said Google had breached its laws by forcing
Amazon dominance
By protecting Amazon’s dominance of the market, the deals give the firm freedom to raise fees on merchants, which eventually hit consumers in the form of higher prices. The state of California has accused Amazon of violating competition law with practices that prevent sellers from offering lower prices elsewhere. The lawsuit from America’s most populous
cryptocrash in South Korea
A South Korean court has issued an arrest warrant for Do Kwon who co-founded the company behind the Terra Luna and TerraUSD cryptocurrencies. Prosecutors believe that Terraform Labs, which is registered in Singapore, had violated capital market rules. Their spectacular collapse earlier this year spooked investors and saw the values of major tokens plummet. Mr
Russia’s retreat from northeast Ukraine
Ukraine claims to have regained territory in Kherson dividing and isolating invading Russian forces. Russian troops that had kept their base in and around Kharkiv for months were suddenly pushed back, forcing the Kremlin to decide whether to reinforce their army in the south or try to fight back Ukraine’s counteroffensive. However, despite the optimism,
Members of the Shanghai Cooperation Organisation
Members of the Shanghai Cooperation Organisation will hold in-person meetings for the first time since 2019 when the Covid-19 pandemic upended lives around the globe. The meeting comes at a time when China and Russia are increasingly positioning the grouping as a counter to the West. Indian Prime Minister Narendra Modi will attend a summit
Romania to supply Moldova with gas
Moldova’s gas company Moldovagaz signed a long-term contract with Gazprom last autumn, but Moldova failed to observe a memorandum attached to it namely, it failed to carry out an independent audit on the historic debts between the two parties. Transnistria has received gas from Russia for free over the decades and owes some USD 7-8
The new Armenia-Azerbaijan fighting
Armenia and Azerbaijan have faced each other off in a conflict over Nagorno-Karabakh for more than three decades. Border clashes between Armenia and Azerbaijan have killed about 100 troops on both sides in the largest outbreak of fighting between the longtime adversaries in nearly two years, fueling fears of even bigger hostilities. The mountainous region
Twitter’s data centre knocked out by extreme heat in California
Extreme heat in California has knocked out one of Twitter’s key data centres in the state. Amid the heatwave, controlling temperatures across data centres warehouses with computers, servers and data storage systems would have been crucial for companies to ensure uninterrupted operations. The record-setting heatwave in the state strained the US state’s power supply that