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The administration of President Joe Biden has announced the awarding of $504 million in funding for 12 technology hubs in the US.
Industry
Lufthansa Receives EU Approval to Acquire ITA Airways for $350 Million
Lufthansa has won EU antitrust approval to buy 41% of ITA Airways for around $350 million. Lufthansa has received antitrust clearance from the European Union (EU) to acquire 41% of ITA Airways for 325 million euros (about $350 million) following the sale of certain routes and slots, the company announced Wednesday, July 3.
Criminals Are Stealing Billions From Music Industry Through Fake Streams: Report
Criminal groups are siphoning billions of dollars annually from the music industry through fraudulent streaming activities, according to a streaming technology firm.
Russia's Central Bank Encourages Businesses to Use Crypto to Evade Sanctions
Russia's central bank has advised businesses to explore alternative solutions, including cryptocurrencies and other digital assets, to facilitate payments with foreign partners.
AI Investments Rise 47% in US Venture Capital Funding—Highest Level Recorded in 2 Years
US venture capital funding climbed to $55.6 billion in the second quarter, marking the highest level in two years, according to PitchBook data.
Latest News
The Securities and Exchange Commission (SEC) has filed a lawsuit against Silvergate Capital Corporation over alleged violations of the Bank Secrecy Act.
Samsung Electronics workers in South Korea will hold a strike from July 8 to 10, according to union officials.
President Joe Biden and Senator Bernie Sanders have urged Novo Nordisk and Eli Lilly to lower the prices of their popular weight loss drugs.
The Biden administration canceled eight export licenses this year that had allowed several companies to send goods to the Chinese telecom giant Huawei.
The FTC has settled with Arise Virtual Solutions, requiring the company to pay $7 million for misleading gig workers about potential earnings and unlawfully requiring them to cover expenses.
Google's annual sustainability report revealed that despite efforts, the company's carbon emissions continued to rise in part due to challenges related to AI.
US officials said that drug traffickers for Mexico's Sinaloa cartel chose to launder money through Citi.
A federal judge has dismissed a lawsuit filed by several Massachusetts cannabis businesses seeking to challenge the existing federal prohibition on marijuana.
China has established a new entity that combines national oil producers and state firms to look for ultra-deep oil and gas reserves.
