Saturday, July 13

Tag: IKON

Biden’s first 2024 ad focuses on ‘extremist’ threat to democracy
Politics

Biden’s first 2024 ad focuses on ‘extremist’ threat to democracy

President Joe Biden’s campaign released its first television ad for the 2024 election on Thursday, warning of an “extremist” threat to democracy over images of the January 6, 2021 attack on the US Capitol. The advertisement, entitled “Cause,” will get its first network showing on Saturday, the third anniversary of the historic assault by Donald Trump supporters which left five people dead. “All of us are being asked right now, what will we do to maintain our democracy?” the 81-year-old Democrat says in a passage lifted from a speech he gave in Arizona last year. “There’s something dangerous happening in America. There’s an extremist movement that does not share the basic beliefs in our democracy,” says the ad, released early on social media. During the one-minute ad, Biden...
In Europe, tourist tax is seen as one solution to overtourism
Lifestyle

In Europe, tourist tax is seen as one solution to overtourism

From Amsterdam to the Algarve to Barcelona, tourist accommodation will be more expensive in some places this year due to hikes in the tourist taxes adopted by many European destinations. One key reason for this is the need to limit the negative effects of overcrowded tourist areas. The start of the new year always brings its share of changes, including price hikes. And travellers are not spared, not even those planning a city-break in Europe. In fact, the increase in Amsterdam's tourist tax has caused quite a stir. Said to be the most onerous in the European Union, it has risen from 7 per cent to 12.5 per cent of the cost of a night's stay in a hotel. This price increase will apply from the beginning of this year. The tax on cruise passengers visiting the Venice of the North is als...
Report: Foreign govts paid Trump firms millions while he was US president
Politics

Report: Foreign govts paid Trump firms millions while he was US president

Former US president Donald Trump’s businesses received at least US$7.8 million from foreign governments including China during his time in the White House, a congressional report claimed Thursday. Officials from Saudi Arabia, India, Turkey and Democratic Republic of Congo were among some 20 countries’ representatives who paid money to Trump’s hotel and real estate businesses during his presidency, Democrats on the House Oversight Committee wrote in their report. The authors claim that such revenues from overseas governments violated a constitutional ban on “foreign emoluments.” “As President, Donald Trump accepted more than US$7.8 million in payments from foreign states and their leaders, including some of the world’s most unsavoury regimes,” said the report titled “White Hou...
Power Root Faces RM23 Million Blow in Trademark Battle Over ‘Ah Huat’ Brand in Indonesia
News

Power Root Faces RM23 Million Blow in Trademark Battle Over ‘Ah Huat’ Brand in Indonesia

Malaysian company Power Root Berhad finds itself entangled in a legal conundrum after its subsidiaries were unexpectedly ordered to pay RM23 million in a trademark infringement case involving its "Ah Huat" brand in Indonesia. The case stems from allegations that an Indonesian company registered the "Ah Huat" trademark without Power Root's consent. Despite intending to appeal the decision, Power Root faces a setback as its subsidiaries were ordered to pay the substantial sum without being informed or given a chance to defend themselves. The legal dispute originated in 2013 when an Indonesian party allegedly registered the trademark without Power Root's knowledge or permission. Last year, Power Root initiated legal proceedings to cancel the trademark's registration, citing ba...
Apple hit with second downgrade this week as iPhone worries grow
Business

Apple hit with second downgrade this week as iPhone worries grow

Apple Inc. was already the least-loved big tech stock on Wall Street. Growing concerns over iPhone sales have now triggered a second downgrade this week, cementing analysts’ cautious approach. Piper Sandler & Co.’s Harsh Kumar cut his Apple rating on Thursday, citing a weak macro environment in China that will dampen demand for iPhones. “We are concerned about handset inventories,” Kumar said in a note, lowering his recommendation for Apple to neutral from overweight after holding a bullish view since March 2020. “Growth rates have peaked for unit sales,” he said. Kumar’s downgrade follows a more bearish move by peers at Barclays Plc, where analysts led by Tim Long cut their rating to underweight on Tuesday. Coming into 2024, Apple was already the big tech stock with t...
TotalEnergies to review land buyouts in contested Africa projects
Business

TotalEnergies to review land buyouts in contested Africa projects

French energy giant TotalEnergies on Thursday said it had launched a review of its land acquisition practices for controversial $10-billion projects in Uganda and Tanzania slammed by environmentalists. TotalEnergies is pushing ahead with its Tilenga drilling project in Uganda and the 1,443-kilometre (897-mile) East African Crude Oil Pipeline (EACOP) to transport it to the coast in Tanzania in the face of opposition from activists and environmentalists. “This mission will evaluate the land acquisition procedures implemented, the conditions for consultation, compensation and relocation of the populations concerned, and the grievance handling mechanism,” the statement said, adding that it would submit its report by April. Tilenga targets oil under the rich Murchison Falls nature...
Tencent buybacks hit record as China watchdog roiled markets
Business

Tencent buybacks hit record as China watchdog roiled markets

Tencent Holdings Ltd. bought back a record HK$10 billion ($1.3 billion) of shares in December and has accelerated the pace even further into 2024 after China’s gaming regulator surprised investors with a raft of new regulations that triggered a broad tech selloff. China’s most valuable company sharply boosted its buybacks as the shock announcement triggered a 12% plunge on Dec. 22. Tencent has since increased daily purchases to about HK$1 billion, compared with an average of HK$375 million a day last year prior to the sweeping gaming restrictions. The controversial regulations, which encompass caps on in-game spending and a ban on rewards for frequent log-ins, revived fears that China was reverting to a 2021-style crackdown on the internet arena. While Beijing has since sought t...
Silicon Valley startups had their worst funding year since 2019
Business

Silicon Valley startups had their worst funding year since 2019

The value of venture capital deals in the US last year fell to levels not seen since 2019, according to new year-end data highlighting startups’ chaotic 2023. Over the last 12 months, investors poured money into artificial intelligence startups, but the rest of the industry foundered. According to early data released by research firm PitchBook on Thursday, venture capitalists invested $170.6 billion in the US in 2023, over an estimated roughly 15,000 deals. That deal value is down by about 30% from 2022. The VC industry also declined globally last year. Around the world, investors put $345.7 billion into startups, down 35% from what they spent last year and the lowest outlay since 2017. Venture capital is an influential part of the global business ecosystem. Bets from VCs hel...