• Huawei ban - who is actually the loser

      Huawei ban - who is actually the loser

      Last week the US declared war on Huawei, a relentless attack more blatant than North Korea hacking Sony in 2014, and undoubtedly - an unprecedented one. A a flagship corporate giant Huawei is one of the biggest names of the tech industry. It’s the world's largest provider of telecommunications equipment, a leader in next-generation 5G technology, and last year it even passed Apple to become the second-biggest smartphone seller in the world.

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    • Ford layoffs hit 7,000 jobs worldwide

      Ford layoffs hit 7,000 jobs worldwide

      Ford Motor Company announced on Monday that it will cut about 7,000 salaried workers, or roughly 10 percent of its global global workforce, in the coming months in a cost-cutting measure that officials said would save about $600m per year. According to the company's statement, the first wave of layoffs will begin tomorrow, 21 May and include 500 employees in the US only. In an email to employees, Ford CEO Jim Hackett added that job cuts in North America would be completed by the end of the week, with layoffs in international markets to conclude by the end of August.

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    • Apple, Google accused of ‘massive music piracy’

      Apple, Google accused of ‘massive music piracy’

      Apple, Amazon, Google, Microsoft and Pandora are all being sued by the estate of Harold Arlen, the composer of Over the Rainbow and many other classic songs. According to the 148-page lawsuit, the tech companies are being accused of being involved in a ‘massive music piracy operation,’ which involves over 6,000 pirated recordings. 

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    • Robot companion and cyber shoes at Webit

      Robot companion and cyber shoes at Webit

      Webit.Festival Europe has earned its reputation as one of the worlds most attended and globally renowned large-scale tech events and this year it did not disappoint as well. For the eleventh consecutive year, Webit gathered in Sofia between 13 and 15 May hundreds of the greatest minds of mankind - among them were top executives of huge corporations, founders of businesses, investors, entrepreneurs, academics, politicians and media representatives.

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    • VW postpones decision on Eastern European plant

      VW postpones decision on Eastern European plant

      The German manufacturer Volkswagen announced this Monday that it has postponed its decision on where to build its new multibrand assembly factory in Eastern Europe, where some of the German group’s car models would be produced. Still, the group, has been given the greenlight by the Board of Supervisors of the project and its management to start final talks with the contenders for the investment, which is being estimated at approximately €1bn.

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    • WhatsApp suffers 'targeted' surveillance attack

      WhatsApp suffers 'targeted' surveillance attack

      Hackers were able to remotely install surveillance software on phones and other devices using a major vulnerability in messaging app WhatsApp. According to a statement by the company, which is owned by Facebook, the attack targeted a "select number" of users, mostly human rights attorneys, and was orchestrated by "an advanced cyber-actor," which the Financial Times identified as Israel's NSO Group.

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    • Pakistan to receive $6bn IMF bailout

      Pakistan to receive $6bn IMF bailout

      Pakistan and the International Monetary Fund (IMF) have agreed on terms for a $6bn bailout package, to be disbursed over a span of 39 months. The IMF said last week that the programme of structural reforms will target increasing government revenues and reducing spending, bringing down the primary fiscal deficit - which excludes development spending - to 0.6 percent of the Gross Domestic Product (GDP) in Pakistan's upcoming budget.

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    • Mercedes to go fully 'carbon-neutral' by 2039

      Mercedes to go fully 'carbon-neutral' by 2039

      German giant Mercedes-Benz this week announced plans to stop selling traditional combustion engine cars by 2039 and make all of its new vehicles sold worldwide by that time carbon-neutral. In additon, the company also pledges to lean on wind power and other forms of clean energy in the future to make its vast manufacturing operations cleaner.

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    • China adds tariffs on $60bn of US goods

      China adds tariffs on $60bn of US goods

      China announced on Monday it was raising tariffs on $60bn of US goods in retaliation for the latest hike in US tariffs on its exports. The Finance Ministry in Beijing said the new penalty duties of 5% to 25% on hundreds of US products including batteries, spinach and coffee will take effect on 1 June.

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