Citigroup has repeatedly violated Regulation W, a U.S. Federal Reserve rule meant to limit risky intercompany transactions, leading to errors in its liquidity reporting.
Legal & Regulatory
Elon Musk Faces Lawsuit From Ex-CNN Host After X Partnership Falls Through
Ex-CNN anchor Don Lemon filed a lawsuit against Elon Musk and X, alleging breach of contract and reputational damage after the platform canceled their partnership despite prior agreements and promises.
Chinese Firm Claims US Sanctions Came After They Uncovered US Spy Activities From CIA and NSA
Qihoo 360 claims its recent U.S. sanctions are due to its discovery of CIA and NSA spying on China and its role in strengthening Chinese cybersecurity.
US Progressives and Senator Warren Urge DOJ to Investigate Nvidia's Market Dominance
Nvidia faces calls from U.S. progressive groups and Senator Elizabeth Warren for a DOJ investigation into its potential anticompetitive practices amid its dominant position in the AI chip market.
World's First-Ever AI Law Now Enforced in Europe, Targeting US Tech Giants
The European Union's new AI Act, effective August 1, 2024, introduces strict regulations for AI technologies, impacting major U.S. tech companies with its comprehensive framework and penalties for non-compliance.
Latest News
Delta Air Lines CEO Ed Bastian announced that a recent IT outage caused by a faulty CrowdStrike software update resulted in a $500 million loss for the airline and over 4,000 canceled flights.
China is turning to supercomputing to boost its AI capabilities in response to U.S. sanctions on advanced semiconductors and GPUs, which are crucial for developing large language models (LLMs).
US Secretary of State Antony Blinken and Defense Secretary Lloyd Austin are in Manila this week to announce a $500 million defense funding to help the Philippines in its deterrence against China.
Delta Airlines has hired David Boies, prominent attorney and chair of law firm Boies Schiller Flexner, in order to seek damages from CrowdStrike and Microsoft after an outage this month that caused millions of computers to crash, including those in airports.
MrBeast, the 300-million-subscriber YouTube channel and media company behind it, has been under fire in recent days due to double allegations directed at its founding co-presenters, Jimmy Donaldson and Ava Kris Tyson, regarding its questionable work ethics and predatory sexual behavior, respectively.
Billionaire investor Bill Ackman’s firm Pershing Square announced that it was postponing its initial public offering, saying that there was an ‘enormous sensitivity’ to the size of the transaction.
American Airlines agreed to allot $4.2 billion worth in pay and benefits to its flight attendants after agreeing on a tentative deal.
Hundreds of newspaper journalists of Australian commercial media outlet Nine began its nationwide five-day strike to oppose a pay offer from company management while the media firm is set to broadcast the Paris Olympics.
SpaceX said that it identified and fixed the problem that caused a failure in its Falcon 9 rocket in a launch earlier this month after announcing it has filed a mishap report to the FAA.
