German prosecutors drop FT investigation over Wirecard

German prosecutors have dropped their investigation into journalists of the Financial Times in connection with its reporting on the corporate fraud at payments firm Wirecard, reports Martin Arnold of the FT. Arnold reports, “The criminal prosecution office in Munich said on Thursday it had ‘suspended the investigative proceedings’ against the two FT journalists after they ‘did not […]

Another million file jobless claims

More than a million Americans filed for unemployment benefits last week in the latest sign that economic recovery remains elusive. CNN’s Anneken Tappe reported: Another 1 million American workers filed for first-time unemployment benefits last week on a seasonally adjusted basis, the Labor Department reported Thursday. The report met economists’ expectations, and was a small […]

U.S. expands sanctions on Huawei

Washington has slapped further sanctions on Chinese electronics maker Huawei. Josh Horwitz and Hyunjoo Jin reported the news for Reuters: Ramped-up U.S. restrictions on Huawei are likely to cut off the Chinese smartphone maker’s access to even off-the-shelf chips and disrupt the global tech supply chain once again, executives and experts cautioned. The Trump administration […]

Biz journalist Dimond, editor of Pulitzer winner on SEC, dies at 81

Thomas F. Dimond, 81, a former business editor of the Washington Star who moved to The Washington Post and edited a Pulitzer Prize-winning investigation of the Securities and Exchange Commission, died July 31. A story in The Post states, “Mr. Dimond had worked at the Star for more than 20 years when it ceased publication […]

Trump slaps ban on TikTok, WeChat

President Trump has issued a ban on U.S. transactions with ByteDance, the Chinese owner of app TikTok, and Tencent, owner of WeChat. David Shepardson and Alexandra Alper reported the news for Reuters: U.S. President Donald Trump on Thursday unveiled sweeping bans on U.S. transactions with China’s ByteDance, owner of video-sharing app TikTok, and Tencent (0700.HK), […]

Big Tech bosses face Congress scrutiny

The heads of the four largest tech companies in the world will today answer questions in a Congress hearing on possible anti-competitive practices. David Shepardson and Nandita Bose reported the news for Reuters: The chief executives of four of the world’s largest tech companies, Amazon.com Inc (AMZN.O), Facebook Inc (FB.O), Apple (AAPL.O) and Alphabet’s Google […]

UK bans Huawei tech from 5G network

The UK government has ordered mobile companies to stop buying 5G equipment from China’s Huawei and remove any existing Huawei equipment from the network. Leo Kelion reported the news for the BBC: The UK’s mobile providers are being banned from buying new Huawei 5G equipment after 31 December, and they must also remove all the […]

SABEW asks feds to release PPP recipients

The Society for Advancing Business Editing and Writing sent out the following statement on Monday: As the Paycheck Protection Program wraps up on Tuesday and as Americans prepare to celebrate Independence Day, SABEW highlights the importance of government transparency and disclosure. We call on the U.S. Small Business Administration and Department of the Treasury to […]

Fed caps banks’ dividends, orders suspension of share buybacks

The Federal Reserve has put a cap on the amount of dividends banks can pay their shareholders and has ordered them to suspend their stock repurchase programs. Ken Sweet reported the news for the AP: A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to […]

House Democrats propose $1.5-trillion infrastructure bill

House Democrats yesterday presented a bill that calls for $1.5 trillion in new infrastructure investment made urgent by the pandemic. Richard Cowan had the news for Reuters: U.S. House of Representatives Democrats on Thursday unveiled a $1.5 trillion infrastructure bill that they will seek to pass in coming weeks, arguing it has been made more […]