Author: ALJAZEERA

CEO of Taiwan-based Gold Apollo released after questioning over role in deadly explosions.Components used in thousands of pagers that detonated on Tuesday in Lebanon in a deadly blow to Hezbollah were not made in Taiwan, Taiwan’s economy minister has said. Taiwan-based Gold Apollo said this week it did not manufacture the devices used in the attack, and that Budapest-based company BAC to which the pagers were traced has a licence to use its brand. It was not clear how or when the pagers were weaponised so they could be remotely detonated. The same applies to the hundreds of hand-held radios used by Hezbollah…

Expert body makes seven recommendations on regulating AI, including establishment of fund to help developing countries.There is an “irrefutable” need for global governance of artificial intelligence and its development cannot be left to the “whims” of the market alone, a United Nations advisory body has warned. While national governments will play a crucial role in regulating AI, the borderless nature of the technology necessitates a “global approach”, the High-level Advisory Body on Artificial Intelligence said in a report on Thursday. “The accelerating development of AI concentrates power and wealth on a global scale, with geopolitical and geoeconomic implications,” the 39-member…

Authorities charge 32-year-old Sydney man over Ghost network allegedly used by crime gangs in multiple countries.Australian police have arrested a 32-year-old man for allegedly building and administering an encrypted message app used by organised crime gangs around the world to traffic drugs and firearms, launder money and order killings. Jay Je Yoon Jung appeared in a Sydney court on Wednesday on charges related to the creation of the Ghost messaging platform, which authorities allege was “built solely for the criminal underworld”. Jung faces five charges, including supporting a criminal organisation and benefitting from proceeds of crime. Australian Federal Police (AFP)…

White House condemns Tesla CEO’s post on X as ‘irresponsible’.Tech billionaire Elon Musk has deleted a social media post about the lack of assassination attempts on United States President Joe Biden and Vice President Kamala Harris following widespread criticism. In the wake of a second apparent assassination attempt on former President Donald Trump on Sunday, Musk wrote in a post on X that “no one is even trying to assassinate Biden/Kamala” along with an emoji of a face with a raised eyebrow. The chief executive of Tesla and SpaceX, who has emerged as an outspoken Trump supporter in recent months,…

Tech billionaire’s comments prompt rebuke from Australian officials.Tech billionaire Elon Musk has branded the Australian government “fascists” over proposals to fine social media companies that fail to stop the spread of misinformation online. Under proposals by Australia’s centre-left Labor Party government, platforms could be fined up to 5 percent of global annual revenue if they allow the spread of content that is “reasonably verifiable as false, misleading or deceptive and reasonably likely to cause or contribute to serious harm”. Communications Minister Michelle Rowland announced the legislation on Thursday after a previous draft of the law was scrapped following backlash from…

Some 33,000 union members walk off the job at factories in Seattle and Portland after rejecting pay offer.Boeing workers on the West Coast of the United States have voted overwhelmingly to strike in the latest blow to the beleaguered aircraft giant. Some 33,000 machinists at the company’s factories in Seattle and Portland, Oregon on Thursday voted to walk off the job from midnight after rejecting management’s latest offer for better pay and conditions. The International Association of Machinists and Aerospace Workers (IAM) said that 94.6 percent of its members voted to reject the contract and 96 percent backed a strike.…

Boeing’s management will likely need to access new sources of liquidity in the event of a prolonged strike.Fitch Ratings and Moody’s have joined S&P Global Ratings in warning that a prolonged strike at Boeing’s factories on the United States West Coast may lead to a ratings downgrade, a headache for the plane maker, which is saddled with massive debt. “If the current strike lasts a week or two, it is unlikely to pressure the rating. However, an extended strike could have a meaningful operational and financial impact, increasing the risk of a downgrade,” Fitch said on Friday. Moody’s warned of…

Republican candidate says workers who put in more than 40 hours should not pay taxes on overtime.Former United States President Donald Trump has pledged to scrap all taxes on overtime work if re-elected to the White House. Addressing supporters in Tucson, Arizona, on Thursday, Trump said the plan to eliminate taxes on work beyond 40 hours a week would give people greater incentive to work and make it easier for businesses to hire. “The people who work overtime are among the hardest-working citizens in our country. And for too long, no one in Washington has been looking out for them.…

Investors are scrambling to shift their positioning following the closely-watched debate between US Republican Donald Trump and Democratic Vice President Kamala Harris, as betting markets swung in Harris’s favour after the event. Shares of Trump Media & Technology Group, the company that owns Truth Social, fell 13 percent on Wednesday afternoon, while other so-called Trump trades such as Bitcoin and crypto stocks retreated. Solar stocks, seen as benefitting from a Harris win, rallied and healthcare shares fell. In a combative debate late Tuesday, Trump and Harris clashed over everything from the economy to immigration, as each sought a campaign-altering moment in what has been a closely-fought race.…

European Commission directed Apple to pay billions in back taxes, an order upheld by the EU’s top court.European Union antitrust chief Margrethe Vestager has scored two major wins as Europe’s top court has backed her crackdown against Apple’s Irish tax deal and Google’s anticompetitive practices in two landmark cases. Vestager, who ends her term in November, has made a name for herself going after Big Tech’s tax arrangements with some EU countries and attempts to stifle smaller rivals. The court victories, which were announced on Tuesday, could embolden her successor to take a similar tack. The antitrust chief cheered the…