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Banking

TikTok joins Meta in appealing against EU gatekeeper status

EU flag and TikTok logo are seen in this illustration taken, June 2, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSTOCKHOLM, Nov 16 (Reuters) - TikTok on Thursday joined Meta (META.O) in appealing against the "gatekeeper" status under the Digital Markets Act (DMA), an EU law that brings in tougher rules for tech companies and makes it easier for users to move between competing services.Meta on Wednesday challenged the "gatekeeper" designations for its Messenger and Marketplace platforms, but did not appeal against the status for Facebook, Instagram and WhatsApp.The European Union...
Banking

Payments app Zelle begins refunds for imposter scams after Washington pressure

Nov 13 (Reuters) - Banks on the payment app Zelle have begun refunding victims of imposter scams to address consumer protection concerns raised by U.S. lawmakers and the federal consumer watchdog, in a major policy change.The 2,100 financial firms on Zelle, a peer-to-peer network owned by seven banks including JPMorgan Chase (JPM.N) and Bank of America (BAC.N), began reversing transfers as of June 30 for customers duped into sending money to scammers claiming to be from a government agency, bank or existing service provider, said Early Warning Services (EWS), the...
Investing

Portugal’s PM soothes investors after resignation over corruption probe

Portugal's Prime Minister and Socialist Party (PS) Secretary General Antonio Costa looks on after winning the general election in Lisbon, Portugal, January 31, 2022. REUTERS/Pedro Nunes/File Photo Acquire Licensing RightsLISBON, Nov 11 (Reuters) - Portugal's premier Antonio Costa, who resigned this week, told foreign investors on Saturday the country was open for business and wanted to remain attractive despite an ongoing corruption probe into "green" energy projects.Costa stepped down on Tuesday over an investigation into alleged illegalities in his government's handling of lithium and hydrogen projects, as well as a...
Banking

Musk’s X has a fraction of rivals’ content moderators, EU says

'X' logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsBRUSSELS/STOCKHOLM, Nov 10 (Reuters) - Elon Musk's X social media platform has just 2,294 content moderators to ensure users comply with EU online content rules, significantly fewer than Google (GOOGL.O) and TikTok, a senior European Commission official said on Friday.Adopted recently, the EU's Digital Services Act (DSA) requires 19 very large online platforms and 2 very large...
Banking

China’s biggest lender ICBC hit by ransomware attack

Industrial and Commercial Bank of China Ltd (ICBC)'s logo is seen at its branch in Beijing, China, March 30, 2016. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsNov 9 (Reuters) - The Industrial and Commercial Bank of China's (ICBC) U.S. arm was hit by a ransomware attack that disrupted trades in the U.S. Treasury on Thursday, the latest in a string of victims ransom-demanding hackers have claimed this year.ICBC Financial Services, the U.S. unit of China's largest commercial lender by assets, said it was investigating the attack that disrupted some of its...
Funds

US Senate Democrats block Republican bid to aid Israel, not Ukraine

The U.S. Capitol Building is seen in Washington, U.S., August 15, 2023. REUTERS/Kevin Wurm/File Photo Acquire Licensing RightsWASHINGTON, Nov 7 (Reuters) - U.S. Senate Democrats on Tuesday blocked a Republican effort to win quick approval for a bill providing emergency aid to Israel that passed the House of Representatives last week, but that provides no assistance for Ukraine's war against Russia.Republican Senator Roger Marshall said: "Time is of the essence and it's imperative that the Senate not delay delivering this crucial aid to Israel another day," he said.Democrats objected, stressing...
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