Switzerland is renowned for its banking prowess, but even the most prestigious institutions can succumb to ethical pitfalls. In a shocking admission, Banque Pictet, the private banking division of the esteemed 218-year-old Pictet Group, admitted to conspiring with U.S. taxpayers to conceal a staggering $5.6 billion from the Internal Revenue Service (IRS). With the Department
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In a recent development at the COP28 climate summit, Sultan Al-Jaber, the COP28 President and United Arab Emirates climate chief, made controversial remarks suggesting that there was “no science” behind calls for a phase out of fossil fuels. Al-Jaber argued that a fossil fuel phase out would hinder sustainable development and take the world back
In a significant development for the federal election interference case against former President Donald Trump, U.S. District Judge Tanya Chutkan denied two of Trump’s motions to dismiss on Friday. This ruling undermines Trump’s assertion of absolute immunity from criminal prosecution and has far-reaching implications for the future of presidential accountability. Judge Chutkan firmly rejected Trump’s
The struggling apparel company, Gap, has recently appointed Richard Dickson as its new CEO. Dickson, who joined the company from toy business Mattel in August, has shed light on the challenges he faced upon his arrival. During a conference organized by The Business of Fashion in the U.K., Dickson emphasized the lack of clarity in
Microsoft’s involvement with OpenAI has taken a new turn as the company announced that it will secure a non-voting board seat at the startup. This move comes after a turbulent month for OpenAI, which saw the firing and re-hiring of CEO Sam Altman. Microsoft’s investment of $13 billion into OpenAI has made its involvement in
Meta, formerly known as Facebook, recently unveiled its updated policies on political advertising. In a blog post, Nick Clegg, Meta’s president of global affairs, outlined the company’s new measures to ensure transparency and combat the spread of misinformation during election cycles. Notably, Meta will now require advertisers to disclose the use of artificial intelligence (AI)
Amazon announced on Tuesday that it achieved “record-breaking” sales during the period leading up to Cyber Monday. Despite the impact of inflation on consumers’ budgets, they were still eager to take advantage of discounts offered by the company. Comparing the same 11-day stretch from November 17 to Cyber Monday, Amazon declared it as its “biggest
Shares of iRobot saw a significant drop of up to 19% following a report issued by the European Union’s antitrust watchdog regarding Amazon’s planned $1.7 billion acquisition of the renowned Roomba maker. The European Commission has been conducting an extensive investigation into the purchase since July, with the decision expected to be made by February