United states

BRUSSELS: Google was in the EU antitrust spotlight again on Tuesday as regulators opened an investigation into whether its digital advertising business gives the Alphabet unit an unfair advantage over rivals and advertisers. The European Union competition enforcer's move marks a new front against Google and follows more than 8 billion euros (US$9.5 billion) in fines over the past decade for blocking rivals in online shopping, Android smartphones and online advertising. The European Commission said it would investigate whether Google distorts competition by restricting third party access to user data for advertising purposes on websites and apps, while reserving such data for its own use. "We are concerned that Google has made it harder for rival online advertising services to compete in the so-called ad tech stack," European Competition Commissioner Margrethe Vestager said in a statement. Google generated US$147 billion in revenue from online ads last year, more than any ... » Learn More about Google in EU crosshairs again with advertising antitrust inquiry

CARACAS: Venezuelan food delivery driver Pablo Toro has no stake in cryptocurrency or blockchain, but indirectly uses digital tokens every time he sends money to his family. Toro, who emigrated to Colombia in 2019, uses an app called Valiu to receive Colombian pesos from working on Bogota's streets and deposit the corresponding bolivars into a Venezuelan bank account. In Venezuela's economy, mired by hyperinflation and hemmed in by sanctions, the operation is not so straightforward. Valiu uses pesos to buy cryptocurrency that it then sells on LocalBitcoins, a global peer-to-peer site for trading tokens in local currencies. For Toro, the platform is more reliable than informal money changers, the main channel for Venezuelan migrants to send money home. And he need not buy traditional money orders in person. "When the power is out in Venezuela, when internet service is down, it has a huge impact on how long it takes to send a remittance to one's family," said Toro, who quit ... » Learn More about As Venezuela’s economy regresses, crypto fills the gaps

Iran and world powers have made headway in talks to save the 2015 nuclear accord though much more work is needed, a senior European Union official said on Tuesday, April 20, with meetings to resume next week after consultations in their respective capitals. "Progress made over the last two weeks," European External Action Service Deputy Secretary General Enrique Mora said on Twitter. "But much more hard work needed. Third expert group was created to address sequencing issues." The talks, aimed at bringing Iran and the United States back into compliance with the nuclear deal will pick up again next week based on progress achieved so far, Russian and Chinese officials said earlier on Tuesday. Iran and world powers have been meeting in Vienna since early April to hammer out steps that must be taken, touching on US sanctions and Tehran's breaches of the deal's limits on its uranium enrichment capacity. "Today the Joint Commission of #JCPOA took note with ... » Learn More about Much more work needed in Iran nuclear talks despite progress, EU says

REUTERS: Sale Sharks centre Manu Tuilagi has withdrawn from the England squad for the summer series against the United States and Canada due to injury, the Rugby Football Union (RFU) said on Tuesday. Tuilagi, who was named in coach Eddie Jones's revised 36-man squad on Sunday, picked up the injury in Sale's 40-30 defeat by the Exeter Chiefs in Saturday's Premiership semi-final. The 30-year-old has played three times since returning from an Achilles tendon injury sustained in September. He will be replaced by Fraser Dingwall of Northampton Saints in the squad, RFU said. An England A side will kick off a summer series against their Scotland counterparts on June 27 followed by tests against the U.S. (July 4) and Canada (July 10). (Reporting by Manasi Pathak in Bengaluru; Editing by Raissa Kasolowsky) ... » Learn More about Rugby-Tuilagi pulls out of England squad due to injury

LONDON: Formula One has extended a partnership with sports merchandise retailer Fanatics after a U.S.-led surge in sales, the Liberty Media-owned sport said on Tuesday. Formula One said sales on its official online store had grown 40per cent globally in 2020. "This strong performance has accelerated in the first six months of 2021, with sales on the official online F1 store growing by triple digits compared to the same period in 2020," it added. The United States had become the most significant market, it added. Formula One is adding a second U.S. race in Miami next year and has gained a higher profile thanks to the popularity of the Netflix series "Drive to Survive" which is now filming its fourth season. The sport has a record 23 races scheduled for this season, with Mercedes' Lewis Hamilton chasing an unprecedented eighth title but locked in a thrilling battle with Red Bull's Max Verstappen. Florida-based Fanatics operates online stores and sells products for ... » Learn More about Motor racing-Formula One extends deal with Fanatics after surge in sales

REUTERS: Japan women's international forward Kumi Yokoyama has come out as a transgender man and says they want to help raise awareness in their home country. The 27-year-old, who plays for National Women's Soccer League (NWSL) side Washington Spirit, said living in the United States and Germany had shown that it was possible to be more comfortable with their identity. They were speaking in a video interview on former team mate Yuki Nagasato's YouTube channel. Yokoyama had surgery to remove breast tissue seven years ago without hormonal treatments, as that would have meant there was a risk of failing doping tests, and plans to undergo more gender-affirming procedures after retiring as a player. "I've dated several women over the years but I had to stay closeted in Japan," Yokoyama said in the interview, which was translated by the Japan Times. "In Japan I'd always be asked if I had a boyfriend, but here (in the U.S.) I'm asked if I have a boyfriend or girlfriend. When ... » Learn More about Soccer-Japan’s Yokoyama comes out as transgender man

DUBAI: Iranian President-elect Ebrahim Raisi on Monday (Jun 21) backed talks between Iran and six world powers to revive a 2015 nuclear deal but flatly rejected meeting US President Joe Biden, even if Washington removed all sanctions. In his first news conference since he was elected on Friday, the hardline cleric said his foreign policy priority would be improving ties with Iran's Gulf Arab neighbours, while calling on Iran's regional rival Saudi Arabia to immediately halt its intervention in Yemen. Raisi, 60, a strident critic of the West, will take over from pragmatist Hassan Rouhani on Aug 3 as Iran seeks to salvage the tattered nuclear deal and be rid of punishing US sanctions that have crippled Iran's economy. "We support the negotiations that guarantee our national interests ... America should immediately return to the deal and fulfil its obligations under the deal," he said. Negotiations have been under way in Vienna since April to work out how Iran and the United ... » Learn More about Iran President-elect Raisi backs nuclear talks, rules out meeting Biden

REUTERS: China's Full Truck Alliance Co Ltd raised nearly US$1.6 billion through a U.S. initial public offering on Tuesday, giving it a valuation of around US$20.6 billion and marking another high-profile Chinese float in New York this year. The company, which styles itself as the "Uber for trucks", sold 82.5 million American depositary shares (ADS) at US$19 per ADS, the upper end of its target range of US$17 and US$19 per ADS. Each ADS represents 20 Class A ordinary shares. Backed by high-profile investors such as SoftBank's Vision Fund and Tencent Holdings, Full Truck Alliance was formed in 2017 out of a merger between Chinese digital freight platforms Yunmanman and Huochebang. The company runs a mobile app that connects truck drivers to people that need to ship items within China. It is set to debut on the New York Stock Exchange later on Tuesday and will trade under the ticker symbol "YMM". Several richly valued Chinese tech startups have targeted IPOs in the United ... » Learn More about China’s Full truck Alliance raises US$1.6 billion in US IPO

LONDON: Hedge funds have rarely been more bullish about the outlook for oil in the last three years, even as prices have climbed to levels that have induced a strong response from producers in the past. Hedge funds and other money managers purchased the equivalent of 26 million barrels in the six most important petroleum futures and options contracts in the week to June 15, according to exchange and regulatory data. Last week's purchases were focused on Brent (+22 million barrels) and NYMEX and ICE WTI (+9 million), with small buying in European gas oil (+4 million), although there were sales of U.S. diesel (-1 million) and U.S. gasoline (-8 million). The combined position rose to 945 million barrels, only exceeded twice in the last 140 weeks – at the end of 2019 and start of 2020 after the trade truce between China and the United States but before the pandemic. Net positions in both crude (746 million barrels) and products (199 million barrels) were in the 83rd-84th ... » Learn More about Column – Oil bulls bet on restraint by OPEC+ and US shale firms: Kemp

REUTERS: Chinese online grocery startup Missfresh Ltd is planning to raise as much as US$336 million from its US initial public offering, which is expected to value the company at up to US$3.8 billion at the top end of the range. Missfresh, which is backed by an affiliate of Chinese gaming and social media giant Tencent Holdings Ltd, is offering 21 million American Depositary Shares (ADSs) at a price range of between US$13 and US$16 each. Founded in 2014, Missfresh is a mobile e-commerce platform that offers delivery services of fresh produce, including fruits, vegetables, dairy products, meat, beverages and drinks, and other daily dining and living items. The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market. Earlier this month, Dingdong also filed to list in the United States. Missfresh also counts Abu Dhabi ... » Learn More about Tencent-backed Missfresh eyes US$3.8 billion valuation in US IPO