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LONDON (AP) — TikTok could face a 27 million-pound ($29 million) fine in the U.K. over a possible breach of U.K. data protection law by failing to protect children's privacy when they are using the video-sharing platform. The U.K. Information Commissioner's Office said Monday that it has issued the social media company a legal document that precedes a potential fine. It said TikTok may have processed the data of children under 13 without appropriate parental consent, and processed “special categ
The recent rally in the U.S. dollar is creating an “untenable situation" for riskier assets that could end in a financial or economic crisis, strategists at Morgan Stanley warned in a note Monday. The wild swings in currencies are another pressure on the global economy and corporate earnings, which are expected to fall as the Federal Reserve’s aggressive interest rate hikes over the summer begin to weigh on spending. “The ultimate lows for stocks, and highs for yields, will likely be determined by the growth trajectory in earnings and the economy rather than inflation or the Fed,” analysts including Michael Wilson at Morgan Stanley wrote.
Recent profit warnings from bellwether companies like Ford Motor Co, may signal more challenges ahead for corporate America, increasing wariness for investors as the stock market deepens its sell-off. The U.S. Federal Reserve raised interest rates by three-quarters of a percentage point for a third straight time on Wednesday in its fight to combat inflation, and some analysts think the aggressive hikes could tip the economy into recession. Ford Motor warned last Monday that inflation-related supplier costs will run about $1 billion higher than expected in the current quarter, while FedEx Corp outlined on Thursday cost cuts of up to $2.7 billion after falling demand hammered first-quarter profits.
The TFSA is a great way to start saving, but, if used with your RRSP, it is a fantastic way to get closer to retirement. The post TFSA 101: How to Use it With Your RRSP appeared first on The Motley Fool Canada.
LONDON (Reuters) -Turmoil in British financial markets forced mortgage lenders to temporarily withdraw and reprice products for new customers on Monday, a real-world consequence of the market volatility thrown up by finance minister Kwasi Kwarteng's mini-budget last week. Brokers said the moves were likely just the start of a big shift in Britain's mortgage market. The country's largest mortgage lender Halifax said it was withdrawing its fee-paying mortgage products - where borrowers could pay an arrangement fee in exchange for a lower interest rate - and moving to a full fee-free range.
SEOUL, South Korea (AP) — North Korea and China resumed freight train service Monday following a five-month hiatus, South Korean officials said, as the North struggles to revive an economy battered by the pandemic, U.N. sanctions and other factors. The reopening came after North Korean leader Kim Jong Un last month made a dubious claim to have overcome the COVID-19 pandemic and ordered an easing of the restrictions guarding against the spread of the coronavirus. South Korea’s Unification Ministr
Expect an ugly open to Asian markets on Monday as investors try to shield themselves from the fallout from the widespread selling that battered stocks, bonds, and currencies on Friday. The historic rout in UK bonds and sterling took center stage on Friday but at the heart of the gloom shrouding world markets is the Fed's drive to raise rates far higher than most people had bargained for, and the effect that is having on global rates. The dollar's 'wrecking ball' status is being painfully felt in Asia, where several currencies have sunk to multi-year or record lows, and central banks have intervened to try and stop the rot.
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WASHINGTON (AP) — President Joe Biden announced a new initiative Monday that would eventually allow consumers to see a more complete price on airline tickets — including baggage and change fees — before they buy, as the White House continues to search for ways to lower costs for Americans amid persistently high inflation. The White House says the proposed rule from the Transportation Department will prevent airlines from hiding the “true cost” of airline tickets, which would help consumers save
(Reuters) -The union for Sunwing Airlines pilots said it is urging Canada's government to stop a plan by the Ontario-based leisure carrier to hire foreign pilots this winter to help cope with an expected holiday travel surge. Airline industry use of foreign pilots as aviation rebounds from the COVID-19 pandemic is sensitive for unions in Canada and the United States. "It's a punch in the face," Barret Armann, president of the union local that represents Sunwing pilots, said of the plan to hire non-Canadian pilots, adding that Labor Minister Seamus O'Regan "needs to step in and stop this."
For six months, home for Ms. Xu has been a room in a high-rise apartment in the southern Chinese city of Guilin that she bought three years ago, attracted by brochures touting its riverfront views and the city's clean air. "All the family's savings were invested in this house," Xu, 55, told Reuters from the Xiulan County Mansion complex, her room bare except for a mosquito net-covered bed, a few necessities and empty bottles on the floor. Xu and about 20 other buyers living in Xiulan County Mansion share a makeshift outdoor toilet and gather during the day at a table and benches in the central courtyard area.
Japan likely won't intervene in the currency market to defend a line-in-the-sand such as 145 yen versus the dollar, and instead limit any further action to smoothing operations aimed at taming volatility, former top currency diplomat Naoyuki Shinohara said. After the dollar's spike to near 146 yen, Japan intervened in the currency market on Thursday to buy yen for the first time since 1998. Finance minister Shunichi Suzuki signalled readiness to step in again if yen moves become too volatile.
While economic growth is expected to slow significantly in 2023, these four Canadian stocks are cheap and have significant growth potential. The post 4 Cheap Canadian Stocks That Can Still Grow Their Earnings Next Year appeared first on The Motley Fool Canada.
Given their high yields, attractive valuations, and stable cash flows, these three TSX stocks are excellent buys for income-seeking investors. The post Passive Income: 3 Top TSX Stocks That Pay Dividends Monthly appeared first on The Motley Fool Canada.
Util-Assist and SEW announced today that the companies have signed an agreement for Util-Assist to deliver system integration services to clients implementing SEW's Digital Customer Experience (CX) Platform - Smart Customer Mobile® (SCM®), Digital Workforce Experience (WX) Platform-Smart Mobile Workforce (SMW®), and Smart AI/ML Analytics Platform - Smart-iQ (SiQ).
OTTAWA — Federal Industry Minister Francois-Philippe Champagne will represent Canada at former Japanese prime minister Shinzo Abe's state funeral this week. Prime Minister Justin Trudeau was scheduled to visit Japan and attend Tuesday's funeral, but cancelled those plans to oversee recovery efforts after post-tropical storm Fiona ravaged much of eastern Canada and parts of Quebec. Describing Abe as a friend and ally of Canada, Champagne says the former Japanese prime minister played an important
WASHINGTON (Reuters) -The U.S. Transportation Department (USDOT) on Monday proposed requiring airlines disclose fees for baggage, ticket changes and family seating the first time an airfare is displayed. This is the latest in a series of rules the Biden administration has proposed to boost airline consumer protections. "My administration is also cracking down on the airlines," President Joe Biden said at a meeting of his competition council Monday.
BOSTON (Reuters) -Biogen Inc has finalized a $900 million settlement resolving a whistleblower lawsuit accusing the biotech company of paying doctors kickbacks to prescribe multiple sclerosis drugs, the U.S. Department of Justice said on Monday. The settlement resolves a long-running whistleblower lawsuit in Boston federal court that a former employee pursued on the government's behalf. Biogen in July disclosed it reached a potential settlement, which was subject to government approval.