Connect with us

Reuters

Tech groups’ services could face bans if they breach rules, EU industry chief says

Technology companies’ services could be banned from the European market if they do not heed EU regulation, Europe’s industry chief Thierry Breton told German weekly Welt am Sonntag, as the European Commission finalizes rules on internet companies….

Published

on

FILE PHOTO: European Union Internal Market Commissioner Thierry Breton talks to journalists during an online news conference at the EU headquarters in Brussels, Belgium September 3, 2020. Francisco Seco/Pool via REUTERS/File Photo

FRANKFURT (Reuters) – Technology companies’ services could be banned from the European market if they do not heed EU regulation, Europe’s industry chief Thierry Breton told German weekly Welt am Sonntag, as the European Commission finalizes rules on internet companies.

Breton will announce new draft rules known as the Digital Services Act and the Digital Markets Act together with European Competition Commissioner Margrethe Vestager on Dec. 2.

The rules will set out a list of do’s and don’ts for gatekeepers – online companies with market power – forcing them to share data with rivals and regulators and not to promote their services and products unfairly.

The new draft rules come as critics of U.S. tech giants, which include companies and industry bodies, question the EU’s rulings against Alphabet GOOGL.O unit Google, saying they have not curbed its allegedly anti-competitive behaviour. Some want EU enforcers to go further than just ordering companies to stop such practices.

The draft rules would allow the EU to ban companies or part of their services from the 27-country bloc as an extreme option. Until the draft rules are adopted EU antitrust and digital regulators do not currently have the power to impose such bans.

“Strict rules must be enforceable”, Breton told Welt am Sonntag.

“For this we need the appropriate arsenal of possible measures: Impose fines, exclude companies or parts of their services from the Single Market, insist that they split up if they want to keep access to the Single Market. Or a combination of all of these.”

He added that these sanctions would only apply to companies that do not respect the EU’s rules, and that the toughest measures would only be used in exceptional circumstances.

In a sign of how much tech firms fear the new regulation, Google unit last month launched a 60-day strategy to get U.S. allies to push back against the EU’s digital chief.

Reporting by Arno Schuetze and Yun Chee Foo. Editing by Jane Merriman

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Source: https://www.reuters.com/article/us-eu-tech-regulations/tech-groups-services-could-face-bans-if-they-breach-rules-eu-industry-chief-says-idUSKBN27V0A7

[ALT0]

Reuters

Biden set to withdraw U.S. troops from Afghanistan by Sept. 11

President Joe Biden plans to withdraw the remaining 2,500 U.S. troops from Afghanistan by Sept. 11, 2021, 20 years to the day after the al Qaeda attacks that triggered America’s longest war, U.S. officials said on Tuesday.

Published

on

WASHINGTON (Reuters) -President Joe Biden plans to withdraw the remaining 2,500 U.S. troops from Afghanistan by Sept. 11, 2021, 20 years to the day after the al Qaeda attacks that triggered America’s longest war, U.S. officials said on Tuesday.

The disclosure of the plan came on the same day that the U.S. intelligence community released a gloomy outlook for Afghanistan, forecasting “low” chances of a peace deal this year and warning that its government would struggle to hold the Taliban insurgency at bay if the U.S.-led coalition withdraws support.

Biden’s decision would miss a May 1 deadline for withdrawal agreed to with the Taliban by his predecessor Donald Trump. The insurgents had threatened to resume hostilities against foreign troops if that deadline was missed. But Biden would still be setting a near-term withdrawal date, potentially allaying Taliban concerns.

The Democratic president will publicly announce his decision on Wednesday, the White House said. A senior Biden administration official said the pullout would begin before May 1 and could be complete well before the Sept. 11 deadline. Significantly, it will not would be subject to further conditions, including security or human rights.

“The president has judged that a conditions-based approach, which has been the approach of the past two decades, is a recipe in staying in Afghanistan forever,” the official, speaking on condition of anonymity, said in a briefing with reporters.

U.S. Secretary of State Antony Blinken and U.S. Defense Secretary Lloyd Austin are expected to discuss the decision with NATO allies in Brussels on Wednesday, sources said.

Biden’s decision suggests he has concluded that the U.S. military presence will no longer be decisive in achieving a lasting peace in Afghanistan, a core Pentagon assumption that has long underpinned American troop deployments there.

“There is no military solution to the problems plaguing Afghanistan, and we will focus our efforts on supporting the ongoing peace process,” the senior administration official said.

The U.S. intelligence report, which was sent to Congress, stated: “Kabul continues to face setbacks on the battlefield, and the Taliban is confident it can achieve military victory.”

It remains unclear how Biden’s move would impact a planned 10-day summit starting April 24 about Afghanistan in Istanbul that is due to include the United Nations and Qatar.

The Taliban said they would not take part in any summits that would make decisions about Afghanistan until all foreign forces had left the country.

The May 1 deadline had already started to appear less and less likely in recent weeks, given the lack of preparations on the ground to ensure it could be done safely and responsibly. U.S. officials have also blamed the Taliban for failing to live up to commitments to reduce violence and some have warned about persistent Taliban links to al Qaeda.

It was those ties that triggered U.S. military intervention in 2001 following al Qaeda’s Sept. 11 attacks, when hijackers slammed airplanes into the World Trade Center in New York City and the Pentagon outside Washington, killing almost 3,000 people. The Biden administration has said al Qaeda does not pose a threat to the U.S. homeland now.

‘ABANDON THE FIGHT’

Senate Republican Leader Mitch McConnell accused Biden of planning to “turn tail and abandon the fight in Afghanistan.” It was Trump, a Republican, who had agreed to the May 1 withdrawal.

“Precipitously withdrawing U.S. forces from Afghanistan is a grave mistake,” McConnell said, adding that effective counter-terrorism operations require presence and partners on the ground.

There currently are about 2,500 U.S. troops in Afghanistan, down from a peak of more than 100,000 in 2011. About 2,400 U.S. service members have been killed in the course of the Afghan conflict and many thousands more wounded.

FILE PHOTO: U.S. President Joe Biden speaks about jobs and the economy at the White House in Washington, U.S., April 7, 2021. REUTERS/Kevin Lamarque

Officials in Afghanistan are bracing for the withdrawal.

“We will have to survive the impact of it and it should not be considered as Taliban’s victory or takeover,” said a senior Afghan government source, speaking on condition of anonymity.

Although successive U.S. presidents sought to extricate themselves from Afghanistan, those hopes were confounded by concerns about Afghan security forces, endemic corruption in Afghanistan and the resiliency of a Taliban insurgency that enjoyed safe haven across the border in Pakistan.

Democratic U.S. Senator Bob Menendez, chairman of the Senate Foreign Relations Committee, said the United States could cut off financial assistance to Afghanistan “if there is backsliding on civil society, the rights that women have achieved.” Under previous Taliban rule, the rights of women and girls were curtailed.

Democratic Senator Jack Reed, chairman of Senate Armed Services, called it a very difficult decision for Biden.

“There is no easy answer,” Reed said.

Reporting by Phil Stewart, Idrees Ali and Steve Holland, Trevor Hunnicutt, Patricia Zengerle and Jonathan Landay in Washington, Jibran Ahmad in Peshawar and Hamid Shalizi in Kabul, Editing by Will Dunham

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Source: https://www.reuters.com/article/usa-afghanistan-withdrawal-int-idUSKBN2C02JI

biden-set-to-withdraw-u.s.-troops-from-afghanistan-by-sept.-11

Continue Reading

Reuters

Myanmar security forces with rifle grenades kill over 80 protesters – monitoring group

Myanmar security forces fired rifle grenades at protesters in a town near Yangon on Friday, killing more than 80 people, the Assistance Association for Political Prisoners (AAPP) monitoring group and a domestic news outlet said.

Published

on

(Reuters) – Myanmar security forces fired rifle grenades at protesters in a town near Yangon on Friday, killing more than 80 people, the Assistance Association for Political Prisoners (AAPP) monitoring group and a domestic news outlet said.

Details of the death toll in the town of Bago, 90 km (55 miles) northeast of Yangon, were not initially available because security forces piled up bodies in the Zeyar Muni pagoda compound and cordoned off the area, according to witnesses and domestic media outlets.

The AAPP and Myanmar Now news outlet said on Saturday that 82 people were killed during the protest against the Feb. 1 military coup in the country. Firing started before dawn on Friday and continued into the afternoon, Myanmar Now said.

“It is like genocide,” the news outlet quoted a protest organiser called Ye Htut as saying. “They are shooting at every shadow.”

Many residents of the town have fled, according to accounts on social media.

A spokesman for Myanmar’s military junta could not be reached on Saturday.

AAPP, which has maintained a daily tally of protesters killed and arrested by security forces, has previously said 618 people have died since the coup.

That figure is disputed by the military, which says it staged the coup because a November election won by Aung San Suu Kyi’s party was rigged. The election commission has dismissed the assertion.

Junta spokesman Major General Zaw Min Tun told a news conference on Friday in the capital, Naypyitaw, that the military had recorded 248 civilian deaths and 16 police deaths, and said no automatic weapons had been used by security forces.

An alliance of ethnic armies in Myanmar that has opposed the junta’s crackdown attacked a police station in the east on Saturday and at least 10 policemen were killed, domestic media said.

The police station at Naungmon in Shan state was attacked early in the morning by fighters from an alliance that includes the Arakan Army, the Ta’ang National Liberation Army and the Myanmar National Democratic Alliance Army, the media reported.

Shan News said at least 10 policemen were killed, while the Shwe Phee Myay news outlet put the death toll at 14.

Myanmar’s military rulers said on Friday that protests against its rule were dwindling because people wanted peace, and that it would hold elections within two years.

Ousted Myanmar lawmakers urged the United Nations Security Council on Friday to take action against the military.

“Our people are ready to pay any cost to get back their rights and freedom,” said Zin Mar Aung, who has been appointed acting foreign minister for a group of ousted lawmakers. She urged Council members to apply both direct and indirect pressure on the junta.

“Myanmar stands at the brink of state failure, of state collapse,” Richard Horsey, a senior adviser on Myanmar with the International Crisis Group, told the informal U.N. meeting, the first public discussion of Myanmar by council members.

Reporting by Reuters Staff; Writing by Raju Gopalakrishnan; Editing by Pravin Char

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Source: https://www.reuters.com/article/us-myanmar-politics-idUSKBN2BX0D5

myanmar-security-forces-with-rifle-grenades-kill-over-80-protesters---monitoring-group

Continue Reading

Reuters

Factbox: Russian central bank considers digital rouble in 2023

(Refiles to remove superfluous word in headline; no change in text.)

Published

on

(Refiles to remove superfluous word in headline; no change in text.)

FILE PHOTO: A Russian flag flies over Russian Central Bank headquarters in Moscow, Russia December 3, 2018. REUTERS/Maxim Shemetov/File Photo

(Reuters) – The Russian central bank is considering limiting future transactions with a digital rouble to smooth the impact of its implementation, planned for 2023, Deputy Governor Alexei Zabotkin said on Thursday.

Russia is working on introducing the digital rouble on top of existing cash and non-cash roubles, to facilitate payments for individuals and businesses and make the use of its currency more global in the face of Western sanctions.

“The emission of the cryptorouble will be akin to cash emission,” Zabotkin said.

“It will be feasible to introduce limits on the transactions from non-cash form into the digital rouble,” Zabotkin said, adding that the central bank will stand ready to compensate for possible liquidity shortages when introducing the digital rouble.

Russia is joining other central banks across the world that are stepping up efforts to develop digital currencies to modernise financial systems, speed up payments and counter a potential threat from other cryptocurrencies.

Below are the key aspects that are known about Russia’s digital rouble project:

* The central bank first floated the idea of the digital rouble in October, citing the need to make payments more convenient;

* The digital rouble will be issued by the central bank and will not substitute for cash in circulation or accounts in banks;

* The first test-drive stage is planned for 2022 and will include transactions with banks. Other operations, such as tax payments and budget settlements, will be tested later;

* Russia is leaning towards a two-tier system for its digital rouble, with banks opening digital wallets with the central bank and serving as intermediaries for customers and companies;

* Russian banks expressed concern about the digital rouble, pointing at cyber risks, possible liquidity shortages and damage to their profits;

* Russia gave cryptocurrencies, such as bitcoin, legal status in 2020. But it banned them from being used as a means of payment, stressing that only currencies issued by central banks can be used for that;

* Russia eyes the digital rouble introduction at times when major central banks including the U.S. Federal Reserve have teamed up with the Bank for International Settlements (BIS) to explore central bank digital currencies.

Reporting by Anna Rzhevkina and Elena Fabrichnaya; editing by Andrey Ostroukh, Larry King

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Source: https://www.reuters.com/article/us-russia-cenbank-rouble-factbox/factbox-russian-central-bank-considers-digital-rouble-in-2023-idUSKBN2BV2AH?il=0

factbox:-russian-central-bank-considers-digital-rouble-in-2023

Continue Reading

Title

Entrepreneur3 hours ago

Penny Stocks To Buy For Under $1 On Robinhood

Are Penny Stocks Under $1 on Robinhood Worth It?

Crunchbase16 hours ago

C2i Genomics Secures $100M Note To Detect Tiny Traces of Cancer

C2i’s cancer diagnostics service uses AI pattern recognition and whole-genome analysis to spot trace amounts of cancer much quicker.

Blockchain news19 hours ago

Ethereum’s Upside Appears Limitless as ETH Breaches $2,400 For the First Time Ever

On-chain metrics provider Santiment has delved deeper into Ethereum’s uptrend and noted that its rally to $3k and beyond looks...

CNBC1 day ago

JPMorgan Chase beats profit estimates on strong trading, $5.2 billion release of loan-loss reserves

JPMorgan posted first-quarter profit of $4.50 a share, much higher than the $3.10 per share expected by analysts surveyed by...

CNBC2 days ago

Coinbase drops below debut price

Coinbase held its direct listing on the Nasdaq on Wednesday, luring public market investors who've been waiting to get into...

Ventureburn2 days ago

Joburg healthtech startup secures undisclosed seven-figure funding –

Quro Medical has secured an undisclosed seven-figure USD amount of funding in a seed round led by Enza Capital and...

ZDNET2 days ago

Is there a market for an Apple TV/HomePod Frankenstein?

Rumors are circulating that Apple is planning to take two devices that aren't selling all that well, and smash them...

Reuters2 days ago

Biden set to withdraw U.S. troops from Afghanistan by Sept. 11

President Joe Biden plans to withdraw the remaining 2,500 U.S. troops from Afghanistan by Sept. 11, 2021, 20 years to...

Business insider2 days ago

Annual Report and Sustainability Report 2021: New Wave Group AB

KUNGÄLV, Sweden, April 14, 2021 /PRNewswire/ -- New Wave Group AB today published the Annual Report and Sustainability Report for...

CNBC3 days ago

States rush to replace J&J vaccine appointments after FDA recommends pause

The FDA and CDC recommended a pause in the use of J&J's vaccine after six women developed a rare blood...

Review

    Select language

    Trending