Content moderator in Kenya sues Meta over working conditions

NAIROBI, May 10 (Reuters) – A former moderator working for Facebook owner Meta Platforms Inc. (FB.O) on Tuesday filed a lawsuit alleging that poor working conditions for contracted content moderators violate the Kenyan constitution. The petition, also filed against Meta’s local outsourcing company, Sama, alleges that workers who moderate Facebook posts in Kenya have been … Read more

Explanation: Can companies leaving Russia recover their losses through insurance?

March 23 (Reuters) – Hundreds of companies said they were pulling out or suspending operations in Russia after it invaded Ukraine, by energy producer Shell Plc (SHELL) to car manufacturer Hyundai Motor Co (005380.KS) to PwC, a global professional services firm. Here’s a look at how insurance and international arbitration could soften the blow to … Read more

Exclusive: Xiaomi accuses the Indian agency of threats of “physical violence” during an investigation

Xiaomi India faces Indian investigation over royalty payments Xiaomi has obtained legal redress, but accuses the agency of threats – document Company says executives threatened with ‘disastrous consequences’ – document India claims Xiaomi made overseas payments under the ‘cover of royalty’ NEW DELHI, May 7 (Reuters) – Chinese smartphone maker Xiaomi Corp 1810.HK alleged its … Read more

LIC’s $2.7 billion IPO in India was subscribed 67% on day one

Investors bid for 108.7 million shares vs. 162.1 million offered Insured, IPO Employee Portions Oversubscribed Stock market falls as RBI hikes rates MUMBAI, May 4 (Reuters) – The $2.7 billion IPO of Life Insurance Corp (LIC), India’s largest public issue, was 67% subscribed on the first day of the call. offers, even as a surprise … Read more

US airlines appear optimistic as bookings soar

An American Airlines Airbus A321-200 plane takes off from Los Angeles International Airport (LAX) in Los Angeles, California, U.S. March 28, 2018. REUTERS/Mike Blake/File Photo Join now for FREE unlimited access to Reuters.com Register CHICAGO, April 21 (Reuters) – The airlines are back. That’s the message major U.S. carriers are sending to investors after struggling … Read more

Elon Musk’s Tesla Accelerates Cost Rise With Price Hikes

SAN FRANCISCO, April 20 (Reuters) – Tesla Inc results (TSLA.O) beat Wall Street expectations on Wednesday as higher prices helped insulate the electric vehicle maker from supply chain chaos and rising costs. The results are also expected to trigger $23 billion in new payouts to CEO Elon Musk, already the world’s richest man. Tesla has … Read more

Ackman Drops Netflix, Suffering $400M Loss as Stocks Tumble

April 20 (Reuters) – Billionaire investor William Ackman has liquidated a $1.1 billion bet on Netflix (NFLX.O) Wednesday, locking in a loss of more than $400 million as the streaming service’s shares plunged after news it had lost subscribers for the first time in a decade. Ackman’s hedge fund, Pershing Square Capital Management, flip-flopped, selling … Read more

Nasdaq drops as Netflix subscriber numbers weigh on tech

Procter & Gamble wants to raise its sales forecast for the year IBM wins on optimistic forecast, first quarter results are better Netflix plummets after losing subscribers in first quarter Indices: Dow up 0.71%, S&P down 0.06%, Nasdaq down 1.22% April 20 (Reuters) – The tech-heavy Nasdaq tumbled on Wednesday as Netflix’s surprise subscriber slump … Read more

In latest gaming crackdown, China bans live streaming of unauthorized titles

A man plays an online game on a computer at an internet cafe in Beijing, China August 31, 2021. REUTERS/Florence Lo Join now for FREE unlimited access to Reuters.com Register BEIJING/HONG KONG, April 15 (Reuters) – China on Friday said live streaming of unauthorized video games was banned, signaling tougher enforcement of the rules as … Read more

Citigroup lowers its forecast of potential losses in Russia

A view of the exterior of the Citibank headquarters in New York, New York, U.S., May 20, 2015. REUTERS/Mike Segar/File Photo Join now for FREE unlimited access to Reuters.com Register Citi adds $1.9 billion in Ukraine crisis reserves Investment banking revenue plummets following slowdown in SPACs Bank returns $4 billion to shareholders Stocks gain 1.4% … Read more