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Small toy figures are seen on representations of virtual currency in front of the Libra logo in this illustration picture, June 21, 2019. — Reuters
Spooked by Facebook's Libra, euro zone to step up work on public cryptocurrency
HELSINKI — Euro zone governments and central banks are working on a long-term plan to launch a public digital currency that they hope would make redundant projects like Facebook's Libra, which is seen as a risk to financial stability, officials said on Friday.The 19-country bloc is also united in pursuing a tough regulatory approach should Libra seek authorizations to operate in Europe. It is also considering a common set of rules for virtual currencies, which are currently largely unregulated.The currency union has worked in past years on several plans to make digital payments cheaper and faster, but none of them has properly taken off so far.But plans unveiled in June by US social media giant Facebook to launch its own digital currency, Libra, for payments among its hundreds of...
September 13, 2019

Spooked by Facebook's Libra, euro zone to step up work on public cryptocurrency

Charles Li, CEO of Hong Kong Exchanges and Clearing Limited, speaks at the Sandler O'Neill   Partners Global Exchange and Brokerage Conference in New York, US, June 6, 2018. — Reuters
London Stock Exchange rejects Hong Kong takeover bid
LONDON — London Stock Exchange Group on Friday formally rejected a takeover bid by its Hong Kong rival, citing "fundamental" flaws and concerns over its ties to the Hong Kong government.In a statement, LSEG said management "unanimously rejects the conditional proposal" from Hong Kong Stock Exchange (HKEX) and "given its fundamental flaws, sees no merit in further engagement" regarding the offer worth almost £32 billion ($40 billion, 36 billion euros)."There is no doubt that your unusual board structure and your relationship with the Hong Kong government will complicate matters," LSEG told HKEX bosses in a letter published alongside the rejection statement.LSEG, which runs the London and Milan stock exchanges, added that it "remains committed...
September 13, 2019

London Stock Exchange rejects Hong Kong takeover bid

This file photo taken on Feb. 18, 2019 shows the US  multinational technology and Internet-related services company Google logo displayed on a tablet in Paris. US Internet giant Google has agreed a settlement totaling 945 million euros ($1.0 billion) to settle a tax dispute in France under an agreement announced in court on Thursday. The company will pay a 500-million-euro fine for tax evasion, as well as a further 465 million euros to settle claims with French tax authorities. — AFP
Google agrees 945-million-euro tax settlement with France
PARIS — US Internet giant Google has agreed a settlement totaling 945 million euros ($1.0 billion) to end a tax dispute in France under an agreement announced in court on Thursday.The company will pay a 500-million-euro fine for tax evasion, as well as a further 465 million euros to settle claims with French tax authorities.In a statement, Google confirmed the settlement and hailed the fact it had put an end to fiscal differences that it had had with France for numerous years.The settlement follows similar out-of-court agreements reached in Italy and Britain by Google in recent years, though the French agreement is much larger than the previous ones.Google said it now wanted to see a coordinated reform for a clear international taxation framework.French Justice Minister Nicole Galoubet...
September 12, 2019

Google agrees 945-million-euro tax settlement with France

Phil Schiller, senior vice president of worldwide marketing, presents the new iPhone 11 Pro at an Apple event at their headquarters in Cupertino, California, US on Tuesday. — Reuters
Apple's new iPhones shift smartphone camera battleground to AI
CALIFORNIA — When Apple Inc introduced its triple-camera iPhone this week, marketing chief Phil Schiller waxed on about the device's ability to create the perfect photograph by weaving it together with eight separate exposures captured before the main shot, a feat of "computational photography mad science.""When you press the shutter button it takes one long exposure, and then in just one second the neural engine analyzes the fused combination of long and short images, picking the best among them, selecting all the pixels, and pixel by pixel, going through 24 million pixels to optimize for detail and low noise," Schiller said, describing a feature called "Deep Fusion" that will ship later this fall.It was the kind of technical digression that, in years...
September 12, 2019

Apple's new iPhones shift smartphone camera battleground to AI

Packaging made out of recycled or natural products are pictured during a media visit for the inauguration of the Nestle Institute of Packaging Sciences in Lausanne, Switzerland, Thursday. — Reuters
Nestle institute aims to develop packaging of the future
LAUSANNE, Switzerland, — Nestle has set up a research institute to develop more environmentally friendly packaging for its products and reduce plastic waste, taking matters into its own hands rather than relying on its suppliers.Having been identified by environmental group Greenpeace as one of the biggest producers of plastic waste that is polluting landfill sites and oceans, Nestle has also been criticized for its lack of action to address the problem."It's our name on the package, so we want to be in the driver's seat when it comes to developing solutions," Nestle Chief Executive Mark Schneider said on Thursday at the inauguration of the Nestle Institute of Packaging Sciences in Lausanne."We are pushing our suppliers because we have the feeling they have not...
September 12, 2019

Nestle institute aims to develop packaging of the future

German Chancellor Angela Merkel looks at a BMW Vision iNext concept car with the CEO of German carmaker BMW Oliver Zipse (L) and the President of the German Association of the Automotive Industry (VDA) Bernhard Mattes as she visits the company's booth during her opening tour at the IAA Car Show in Frankfurt on Thursday.  Merkel opened the biennial IAA car show in Frankfurt to the public, addressing an auto industry on the defensive over safety and the environment. — AFP
Germany's Merkel to open embattled Frankfurt car show
FRANKFURT AM MAIN — German Chancellor Angela Merkel opens the biennial IAA car show in Frankfurt to the public Thursday, addressing an auto industry on the defensive over safety and the environment.Climate protection protesters plan a rally outside the show Saturday, saying the sector is failing to reduce carbon emissions despite a massive push for new electric vehicles.Meanwhile media and politicians have debated the safety of SUVs this week, after four people, including a three-year-old boy, were killed when a driver mounted the pavement on a central Berlin street.Once feted as "climate chancellor" for pushing forward Germany's "energy transition", Merkel is on the back foot on environmental issues.After successive hot summers, car industry scandals like...
September 12, 2019

Germany's Merkel to open embattled Frankfurt car show

Japanese video game designer, writer, director and producer Hideo Kojima speaks on stage to present his new video game
From Death Stranding to Olympic Mario at Tokyo Game Show
MAKUHARI, Japan — Gamers got a sneak peek on Thursday at everything from the hyper-realistic, much anticipated Death Stranding to an Olympic-themed Mario edition at this year's Tokyo Game Show.The annual event for game enthusiasts is showcasing the diversity of the field, though Kojima Production's long-awaited Death Stranding for the PlayStation is expected to be among the biggest draws.It is a "totally new" type of game, according to creator Hideo Kojima, a towering figure in the industry who struck out on his own after years honing his talent at Konami with landmark titles like Metal Gear."Kojima is always on the cutting edge," said Yasuyuki Yamaji, secretary general of the Computer Entertainment Supplier's Association that organizes the show.Kojima...
September 12, 2019

From Death Stranding to Olympic Mario at Tokyo Game Show

Hong Kong Exchanges and Clearing Limited Chief Executive Charles Li attends an interview by Reuters in Hong Kong, China, Sept. 5, 2017. — Reuters
Charles Li, Hong Kong's charismatic exchange chief, leads charge for LSE
HONG KONG — When Hong Kong Exchange chief executive Charles Li described his company's surprise offer for the London Stock Exchange this week as a "a corporate tale of Romeo and Juliet," listeners outside Asia may have been surprised by the colorful analogy.But in Hong Kong, Li's fondness for extended metaphors are well known and have made the charismatic former offshore oil worker, lawyer, journalist and investment banker a popular figure at public events.Li has run Hong Kong Exchanges & Clearing since 2010. Under his supervision, the exchange presents itself as a gateway between China and the rest of the world, and has benefited from a wave of IPOs as giant Chinese companies raised billions from international investors.The exchange has been the world's largest...
September 12, 2019

Charles Li, Hong Kong's charismatic exchange chief, leads charge for LSE

File photo of a container ship docked at a port in Qingdao, in eastern China’s Shandong Province. — AP
China cancels some US products from tariffs list
BEIJING — China on Wednesday said it would spare some US products from punitive new tariffs, an apparent olive branch ahead of high-level talks next month to resolve the two nations' protracted trade war.However, the goods do not include big-ticket agricultural items that could be crucial to the ultimate success of any agreement between the two sides, whose stand-off is dragging on the global economy.The exemptions will become effective on September 17 and be valid for a year, according to the Customs Tariff Commission of the State Council, which released two lists that include seafood products and anti-cancer drugs.The lists mark the first time Beijing has announced products to be excluded from tariffs.Other categories that will become exempt include alfalfa pellets, fish feed,...
September 11, 2019

China cancels some US products from tariffs list

 Rae Kwon Chung, Chairman of the Global Energy Prize International Award Committee, stressing a point at the 24th World Energy Congress in Abu Dhabi, UAE.
Technology subsidies to take out the ecosystem from crisis
ABU DHABI — While economic growth and urbanization are positive trends in the development of humankind, they also contribute to an increase in the world's population and exacerbate the shortage of three inextricably linked resources: energy, water and food. The issue of ensuring their availability, as well as security, requires a comprehensive approach, said Rae Kwon Chung, Chairman of the Global Energy Prize International Award Committee, member of the IPCC, awarded the Nobel Peace Prize in 2007. The shift of subsidies towards green energy, sustainable agriculture and land use, as well as support for technological solutions in the field of production, storage and transfer of energy resources will not only answer this challenge, but will also have a positive impact on solving...
September 11, 2019

Technology subsidies to take out the ecosystem from crisis

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