Pfizer seeks $75.2 million from SAC insider trading settlement
The dispute arises from SAC’s $602 million SEC settlement over insider trades in Wyeth and Elan by convicted employee Mathew Martoma
Intel announces plans to make Intel Capital a standalone entity
Intel Capital manages over $5 billion in assets and focuses on investments in silicon, frontier technologies, devices, and cloud infrastructure
US bans imports from 37 Chinese firms over alleged Uyghur forced labor
The move targets companies in the textile, mining, and solar sectors under the Uyghur Forced Labor Prevention Act
Biden signs order ensuring AI infrastructure supports national security efforts
Order allocates Defense and Energy lands for AI centers and power needs
Wildfires threaten operations of $4 trillion Los Angeles asset management hub
Firms in Los Angeles manage more than $4 trillion of the $132 trillion in global assets managed in the United States
Biden administration finalizes US crackdown on Chinese vehicles
It's really important because we don't want two million Chinese cars on the road and then realize... we have a threat, says US Commerce Secretary
U.S. sanctions reshape oil shipping routes and raise transportation costs
The sanctions aim to restrict revenue from the world’s second-largest oil exporter due to its ongoing war in Ukraine
Russian court issues $77.9 million fine to Google over regulatory violations
This marks a substantial rise from typical fines of around 4 million roubles levied on foreign technology platforms for non-compliance with Russian regulations
EU reviews Big Tech investigations under Digital Markets Act
The review may narrow or adjust the scope of the investigations and has paused decisions and fines while technical work continues
Oil trades near four-month highs on sanctions against Russian exports
Brent crude futures slip 0.67% to $80.47 per barrel, while U.S. West Texas Intermediate (WTI) crude drops 0.67% to $78.29 per barrel
Dollar rises to two-year high on strong U.S. economic data
The dollar/yuan market remains critical, with the People's Bank of China unveiling measures to stabilize the yuan amid rising depreciation pressures
Hyundai donates $1 million to Trump inaugural fund
The corporate support highlights private sector engagement ahead of Trump’s January 20 inauguration
Six EU countries urge G7 to cut Russian oil price cap further
The countries argue that the move would further reduce Moscow's revenue to fund its war in Ukraine without causing a shock to global markets
OpenAI calls for investment and regulation to maintain U.S. AI advantage
The announcement comes ahead of President-elect Donald Trump’s inauguration, with a new administration expected to be more supportive of the tech industry
Apple faces accusations of overcharging British consumers by $1.8 billion
The U.S. tech giant faces claims from 20 million U.K. users over alleged overcharges for app purchases