Latest news with #KevinLiffey
The Star
4 days ago
- Business
- The Star
Apple challenges 'unreasonable' EU order to open up to rivals
People walk by the Apple store on Fifth Avenue in New York City, U.S., May 1, 2025. REUTERS/Kylie Cooper/File Photo (Reuters) - Apple has submitted a legal challenge to an EU order to open up its closed ecosystem to rivals such as Meta and Alphabet's Google, saying the demands are unreasonable and hamper innovation. The European Commission had in March detailed how Apple must comply with the Digital Markets Act, which aims to rein in the power of Big Tech. Apple said the EU's interoperability requirements create "a process that is unreasonable, costly, and stifles innovation". "These requirements will also hand data-hungry companies sensitive information, which poses massive privacy and security risks to our EU users," it said in a statement. "These deeply flawed rules that only target Apple - and no other company - will severely limit our ability to deliver innovative products and features to Europe, leading to an inferior user experience for our European customers." Meta, Google, Spotify and Garmin are among companies that have requested access to Apple users' data. The legal fight will likely take years to play out in court. Until then, Apple will have to comply with the EU order. The Commission ordered Apple to give rival makers of smartphones, headphones and virtual reality headsets access to its technology and mobile operating system so they can connect with Apple's iPhones and iPad tablets. It also set out a detailed process and timeline for Apple to respond to interoperability requests from app developers. (Editing by Kevin Liffey)
Zawya
20-03-2025
- Business
- Zawya
Russian rouble corrects after rally fuelled by US-Russia talks
The Russian rouble weakened further on Thursday, adjusting after a significant rally since the start of the year that has been fuelled by hopes of an easing in geopolitical tensions amid talks between Russia and the United States. By 0920 GMT, the rouble was down 0.4% at 84.30 against the dollar in the over-the-counter market, extending its losses from the previous session when it fell 2.8%, its biggest daily drop since the beginning of the year. Against the Chinese yuan, the most traded foreign currency in Russia, the rouble was down 1.1% at 11.62 on the Moscow Stock Exchange. Despite these losses, the rouble is still up by 26% against the dollar this year. "What we are observing now is a natural rebound after a series of margin calls for early players against the rouble and buyers of currency futures; they simply had to sell urgently," BCS analysts said in a note. (Reporting by Gleb Bryanski; Editing by Kevin Liffey)
Yahoo
27-02-2025
- Yahoo
Cyprus should have investigated UK woman's gang rape claim, European Human Rights Court rules
(Reuters) - Cyprus failed in its legal duty to investigate a British woman's allegation in 2019 that she had been gang-raped by Israeli tourists on the holiday island, the European Court of Human Rights said on Thursday. The woman, who was 18 at the time and is identified in court documents as "X", reported being raped by Israeli youths in July 2019 in the resort of Ayia Napa. However, after hours of police interrogation without legal representation, she retracted her statement - which she later said she had done under duress. She was charged with "public mischief" and handed a suspended jail sentence. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. In its ruling, the ECHR agreed with "X" that Cyprus had breached its obligations to effectively investigate and prosecute her allegations. After her retraction, the youths were released from detention and returned home without facing further legal action. Some said they had had consensual sex with "X" but all denied rape. In January 2022, Cyprus's Supreme Court overturned the woman's conviction, upholding her assertion that she had retracted her allegation under pressure, casting a harsh light on Cypriot practices in investigating sexual abuse. Despite that ruling, Cyprus's attorney-general declined to reopen an investigation into her original complaint, her lawyers said. (Writing by Michele Kambas; Editing by Kevin Liffey)
Zawya
06-02-2025
- Business
- Zawya
Egypt's net foreign assets slip in December
CAIRO: Egypt's net foreign assets (NFAs) slid by $592.1 million in December, their third decline in three months, after a series of foreign liabilities put payments under pressure, central bank data showed on Wednesday. NFAs declined to the equivalent of $5.29 billion from $5.96 billion at the end of November, according to Reuters calculations based on the official central bank currency rates. The decline followed a $3.25 billion drop in November. Egypt has been using NFAs, which include foreign assets at both the central bank and commercial banks, to help to prop up its currency since as long ago as September 2021. NFAs turned negative in February 2022 and only returned to positive territory in May last year. Egypt needed to pay dollars in December as Egyptian pound treasury bills held by foreign investors matured and nearly $1 billion in IMF loan repayments and payments for natural gas imports came due, bankers, brokers and analysts said. Egypt's NFA position for January is likely to improve following the sale of $2 billion in international bonds, analysts added. Foreign assets rose in December at both the central bank and commercial banks, but foreign liabilities increased at both by even more. (Reporting by Patrick Werr; Editing by Kevin Liffey)
