Markets
Apple sued by New York student for $1 billion: Here’s why
Bah filed a lawsuit against Apple claiming that the only way the company could have linked him to the crime scenes in other states was if it programmed its facial recognition software to hunt the criminal down, either inviting a high margin of error or intentionally falsely identifying the thief's face as Bah's. [Full Article...]
Microsoft Staff Criticise Jack Ma-Backed "996" China Work Culture
A protest by tech employees in China over the expectation of 72-hour work weeks has this week attracted the support of 30 workers from Microsoft and its GitHub subsidiary. "We must entertain the possibility that Microsoft and GitHub will be pressured to remove the repository as well", the letter said. "We know this is a problem that crosses national borders", wrote employees in the petition. [Full Article...]
China Introduces New Game Approval Process This Month
This primarily impacts "copycat games", along with poker and mahjong titles. The larger developers, who already have developed and been approved for this type of game in the past will still be able to sell their games, however. When submitting a game for approval, do not include the version number in the title. Mobile game applications do not require publishers to send a smartphone with the game... [Full Article...]
China's Starbucks challenger files for US IPO
Luckin, which now ranks as China's second-largest coffeehouse chain, said it would look to raise $100 million in its IPO, but did not say how many shares would be offered for sale. Luckin held only a 2.1 per cent share in 2018. "China's coffee market is highly underpenetrated". Coffee consumption is estimated to grow by roughly 3 percent a year through 2023, according to Euromonitor. [Full Article...]
Draft Proposal: RBI may allow fintech firms to test regulatory sandbox
The draft confirms that this financial service will set the stage to launch new advancements in this sector and also sustain the existing technology. On Thursday, April 18, 2019 , the Reserve Bank of India (RBI) released a report on what they refer to as the " Regulatory Sandbox " (RS), which explores the different facets of FinTech . [Full Article...]
Pace of Existing Home Sales in the US Drops
There were 1.68 million previously owned homes on the market in March, up from 1.63 million in February. February's sales pace was revised down to 5.48 million units from the previously reported 5.51 million units. Still, it said March sales remained strong from a historical perspective. Having jumped in February, but failed to gain on a year-over-year basis, the seasonally adjusted pace of exis... [Full Article...]
Oil prices little changed despite Saudi export cuts, United States stocks draw
The price of "black gold" was also supported by the decline in USA stocks. International Brent crude futures were down 50 cents at $54.41 a barrel. WTI and Brent have increased 40.94 percent and 33.77 percent, respectively, so far this year. [Full Article...]
Ben & Jerry's campaign opposes racial inequalities in marijuana arrests
While marijuana is now legal in 33 states and consumers can consume it in more places than ever before, the company said there is still racial inequalities in cannabis-related arrests. "On 4/20, let's be blunt about justice", says the headline of the campaign's page, which asks Congress to expunge records and provide pardons or amnesty to those convicted of cannabis possession. [Full Article...]