ILLEGAL PRODUCTS
Amazon Prime Refund: $3 million for customers after lawsuit alleges company made subscription cancellations complicated; also pledges $1.5 million for consumer protection
Amazon Prime Refund: Amazon has agreed to pay $3 million to eligible Prime customers in Arizona to settle allegations that its six-step membership cancellation process made it difficult for subscribers to end their memberships. The company will also contribute $1.5 million towards consumer protection, pay $1.5 million in legal expenses and donate $1 million to food charities. Amazon has denied wrongdoing.
Jensen Huang row gives US lawmakers fresh ammo on chip controls
Members of the US Congress have urged for for tighter congressional oversight of advanced chip exports to China and legislations mandating companies to track chips to tackle smuggling.
Moonshot AI rents Nvidia’s top AI chips in China, documents show
Documents indicate that Moonshot AI possibly accessed advanced Nvidia chips despite US export restrictions and related investigations. The servers were reportedly rented from Super Micro Computer Inc. with significant financial backing from Lingmeixin Technology Co.
The US, Singapore and Taiwan have all looked at Alice Huang or her company Megaspeed; here’s what each investigation covers
One Chinese businesswoman, three countries and a growing national security controversy. Alice Huang has drawn scrutiny in the US, Singapore and Taiwan over her alleged links to Beijing and her former company, Megaspeed. But each country's role is different. While US authorities have examined suspected Chinese intelligence links, Singapore is investigating Megaspeed, and Taiwan's reported inquiry centres on her alleged connections to China.
Alice in Nvidia CEO's secret world: Jensen Huang's personal affair matters far beyond than what meets the eye
Concerns about national security have emerged regarding Nvidia CEO Jensen Huang and a Chinese businesswoman, Alice Huang. US intelligence suggests Alice may have gathered information for Beijing after forming a close relationship with Jensen. Nvidia's advanced processors play a crucial role in AI and military applications, making them strategically significant in US-China relations. Congressional inquiries are seeking clarity on Nvidia's security protocols regarding foreign espionage risks.
Trump announces Task Force Iron Gate to choke off Iran's trade routes, enforce restrictions on weapons supplies
US President Donald Trump has announced Task Force Iron Gate to restrict the movement of weapons, dual-use technologies and sanctioned materials into and out of Iran. The initiative will operate alongside a US naval blockade that CENTCOM says has prevented Iran from exporting more than $25 billion in crude oil.
Delhi govt urges citizens to burst only green crackers, stick to specific timings: Check permitted time, restricted areas and other key details
Delhi pollution news: Delhi government has outlined restrictions on firecracker use for the upcoming Diwali festival. Green firecrackers will be allowed only on specific dates and times in November. The sale is limited to certified green firecrackers at authorized locations only. Violators of these regulations may face penalties and confiscation of illegal products. Supreme Court has mandated these conditions to reduce pollution and noise during the celebrations.
Inflation, tariffs and a voter revolt: The midterm verdict on Trump's economy
US President Trump's policies led to rising inflation, resulting in substantial Republican losses in the midterm elections. Many voters attributed the economic challenges to Trump rather than his predecessor, Democrat Joe Biden. The electorate expressed dissatisfaction with the economy, particularly lower-income voters who felt financially worse off. Additionally, a significant number wanted the government to address healthcare costs and economic inequality.
Mahadev case: Chandrakar's custody needed to identify officials who got 'protection money', says CBI
Saurabh Chandrakar, accused of masterminding the Mahadev betting app scam, was extradited from Oman for interrogation. The Central Bureau of Investigation is seeking information on Chhattisgarh public servants allegedly involved in corruption. Reports claim that huge amounts of protection money were paid to facilitate illegal operations of the betting syndicate. Investigations have revealed a substantial financial network utilising fake bank accounts for gambling transactions.
Mahadev betting app kingpin Saurabh Chandrakar sent to 8-day police custody
Saurabh Chandrakar, wanted in the Mahadev betting app case, was granted eight days of police custody. The Central Bureau of Investigation brought him from New Delhi for examination before a special court. Chandrakar was arrested in Oman after being detained by the Royal Oman Police. He is facing allegations related to illegal online betting and corruption charges. The Enforcement Directorate has also filed a prosecution complaint against him.
India’s illegal gold imports surge 1,500% after tax hike
India's illegal gold imports surged dramatically in the third quarter of 2023, reaching 50 metric tons. This rise is attributed to the government's recent duty hike on gold and silver imports. The increase in informal shipments is linked to previous tax increases that incentivized smuggling and cash sales. Gold demand typically rises during major festivals, though year-on-year metrics indicate a decline.
China to expand global access to yuan assets, promote Hong Kong as offshore hub
China plans to expand global access to yuan-denominated assets and strengthen Hong Kong's role as an offshore yuan hub. Meanwhile, regulators flagged risks from surging AI investments, warning of rising leverage, higher borrowing costs and financial instability.
ITC Q2 net profit falls 20% as high taxes keep margins in check
ITC reported a 20% decline in standalone net profit for the September quarter despite a 45% increase in revenue. The rise in cigarette taxation significantly impacted profitability, forcing ITC to absorb part of the price hikes. Non-cigarette businesses showed strong growth, achieving the highest revenue growth in 14 quarters. Factors such as inflation and geopolitical tensions continue to affect the operating environment.
Who sent $2 bn military equipment to Iran past US blockade? More than 5,000 agencies
Iran has developed a clandestine network involving over 5,000 agencies to import military equipment and evade sanctions. This network functions despite ongoing US naval blockades and sanctions since the war began. Extensive investigations reveal significant transactions and military logistics supporting their activities. The secretive agencies have been linked to the Islamic Revolutionary Guard Corps and elite controlled businesses.
Reddit posts search traffic declines, will push visitor sign-ins to curb data scraping
Reddit CEO Steve Huffman outlined a plan on Thursday to make signing-in mandatory for most content as the company grapples with data scraping and declining search referral traffic in recent months.
Nvidia CEO Jensen Huang seen as target of China spy plot; Trump briefed but took no action: Report
A Chinese businesswoman suspected of passing intelligence to Beijing developed a close relationship with Nvidia CEO Jensen Huang, according to a New York Times exclusive report. US President Donald Trump was briefed on the intelligence findings roughly a year ago but took no action, reportedly wary of disrupting Nvidia's chip sales and US-China trade relations.
Jensen Huang lists three countries that may lead manufacturing and advanced technology, and neither US or India are in that list
Nvidia CEO Jensen Huang has named Germany, Japan and China as three countries with strong positions in advanced manufacturing, citing China’s integration of computing and industrial production. He also said US export restrictions had accelerated China’s semiconductor ambitions, while maintaining that American technology companies were prepared to compete globally.
Amid supply chain issues, India's strategic mining in critical state
India's mining sector remains underdeveloped due to high import dependence and severe execution bottlenecks. Challenges include land acquisition difficulties, uncoordinated state-level regulations, and environmental concerns related to mining activities. The Centre has urged states to improve the operationalisation of mines, with only a fraction currently active. Various stages of clearances have delayed the progress of numerous mining projects in different regions.
Is India a “shadow transshipment” hub? The data says otherwise
Between 2014 and 2024, India’s goods exports to the US grew 1.86 times, while US exports to India grew 1.94 times. A rising two-way relationship, with India’s global exports also up 1.36-fold, is hard to square with a “mere pass-through” story tailored to one market.
Load More
