Shein has disclosed that its U.S. operations are under investigation by the U.S. Federal Trade Commission, warning that the probe could result in significant monetary payments and materially affect its financial condition and results. The fast-fashion e-commerce company revealed the inquiry in documents filed with the Hong Kong stock exchange...
ANKARA, Turkey – Speaking after a NATO summit in Ankara in early July, NATO Supreme Allied Commander Transformation Adm. Pierre Vandier warned that current Western air and missile defense models are inadequate for the large-scale barrages now seen in Ukraine and the Middle East. He said that despite allies committing...
NASHVILLE — Singer Jelly Roll and podcaster Bunnie Xo are taking sharply different directions after the end of their nearly 10-year marriage. Jelly Roll filed for divorce on May 18, listing May 9 as the separation date, and the divorce was finalized in July. The pair first met at a...
LONDON - The Bank for International Settlements (BIS) has warned that the rapid expansion of artificial intelligence is making it harder for central banks to interpret inflation signals and calibrate interest rates. In a bulletin on the economic implications of AI, the Switzerland-based central bank umbrella group said the technology...
Swiss Re said on Tuesday that ongoing wildfires in France and Spain are likely to drive higher demand for private insurance coverage in southern Europe. The reinsurer noted that wildfire losses are generally not covered by national insurance pools in the region, leaving homeowners to purchase separate policies and creating...
Zurich, Switzerland – FIFA has announced plans to create a new commercial subsidiary, FIFA Forward Enterprise (FFE), valued at around $20 billion that would consolidate the governing body’s commercial and event operations. Under the proposal presented on Tuesday, FIFA would invite external investors to buy minority, non-controlling stakes in FFE...
BENGALURU, India – Apple’s market capitalization briefly surpassed $5 trillion for the first time on Tuesday, making the iPhone maker only the second company ever to reach that milestone after Nvidia. The stock hit an intraday high of $342.89, implying a market value of about $5.036 trillion, before easing to...
AMSTERDAM, Netherlands – China’s move to develop a homegrown immersion deep ultraviolet (DUV) lithography machine is increasing pressure on Dutch chip equipment maker ASML, which has recently become Europe’s most valuable listed company after a sharp share price rise. Reuters reported that Shanghai Aishengna Electronic Technology Group, a little-known Chinese...
Record quantities of foul-smelling sargassum seaweed are inundating beaches along Mexico’s Caribbean coast, disrupting tourism and raising environmental concerns, according to officials and researchers speaking in late July. Authorities in Quintana Roo, home to Cancun, Playa del Carmen and Tulum, project about 119,000 tons of sargassum will reach shore by...
Rebecca Cooke, a Democratic House candidate in Wisconsin aiming to unseat Republican Rep. Derrick Van Orden, has reversed her position on a federal ban on conversion therapy following criticism from progressive voters. During several primary forums ahead of the August 11 Democratic primary, Cooke declined to endorse a nationwide prohibition...
