Asian Business Headlines at 7:37 p.m. GMT
Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations
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TechCrunchIndian ride-hailing giant Ola quits UK, Australia and NZ in international pullback
Indian ride-hailing giant Ola is shutting down its operations in the U.K., Australia and New Zealand, six years after expanding to international markets, as it shifts focus to shoring up its domestic business ahead of an initial public offering. An Ola spokesperson told TechCrunch that the SoftBank-backed ride-hailing startup sees "immense opportunity for expansion in India," where it operates in hundreds of cities and offers a range of transportation options, including two-wheelers. "With this clear focus, we’ve reassessed our priorities and have decided to shut down our overseas ride-hailing business in its current form in the U.K., Australia and New Zealand," the spokesperson added.
- Autoblog
UPS and FedEx find it harder to replace gas guzzlers than expected
Shipping companies like UPS and FedEx are facing uncertainty in U.S. supplies of big, boxy electric step vans they need to replace their gas guzzlers.
- Yahoo Finance
Re-vote on Elon Musk’s pay could expose Tesla to even more legal trouble
Tesla is likely in for some fresh legal entanglements after recommending stockholders vote to reinstate Elon Musk’s compensation package.
- Yahoo Finance
Starbucks CFO says there are no plans to lower prices, but Wall Street is skeptical of its 2024 plans
The company is planning to introduce new menu items, loyalty offerings, and more, but it likely falls short of what's needed for a turnaround.
- Engadget
Google fired 28 workers who protested Israeli government cloud contract
Google has fired 28 employees involved in protests against the company's "Project Nimbus" cloud contract with the Israeli government.
- Engadget
Only 57 companies produced 80 percent of global carbon dioxide
A new report found that just 57 companies produced 80 percent of carbon dioxide emissions worldwide between 2016 and 2022.
- Autoblog
BYD got $3.7 billion in Chinese aid to dominate EVs, study says
China’s BYD Co. received at least $3.7 billion in direct government subsidies as part of Beijing’s push to dominate electric vehicles and other clean technologies, according to a new study.
- TechCrunch
Hackers stole 340,000 Social Security numbers from government consulting firm
U.S. consulting firm Greylock McKinnon Associates (GMA) disclosed a data breach in which hackers stole as many as 341,650 Social Security numbers. The data breach was disclosed on Friday on Maine’s government website, where the state posts data breach notifications. In its data breach notice sent by mail to affected victims, GMA said it was hit by an unspecified cyberattack in May 2023 and “promptly took steps to mitigate the incident.”
- Yahoo Finance
Retirement confidence in the US ticks up; new rule for financial advisers is set to start
Two-thirds of Americans reported that they feel confident they have enough money for a comfortable retirement, up a notch from last year.
- Autoblog
This Milwaukee mechanics tool set is an impressive 40% off at The Home Depot
Now available at an unbeatable 40% discount during The Home Depot's spring sale, this set is meticulously engineered for maximum tool strength, ensuring durability and longevity for any task. The flush directional lever and socket flats are designed to prevent rolling, while the stamped socket sizes offer easy visibility.
- Yahoo Sports
Shohei Ohtani's ex-interpreter, Ippei Mizuhara, released on $25K bond after turning himself in to feds
Mizuhara is accused of stealing $16 million from the Los Angeles Dodgers star.
- TechCrunch
Rivian targets gas-powered Ford and Toyota trucks and SUVs with $5,000 'electric upgrade' discount
Rivian is offering discounts up to $5,000 on its EVs — and a year of free charging — to customers willing to trade in their gas-powered trucks and SUVs. The promotion, which kicked off on April 22, is aimed directly at some of the best-selling and most ubiquitous gas-powered trucks and SUVs on the market today, including the Ford F-150, Toyota Tacoma and Jeep Wrangler. Rivian is even going after German automakers, Audi and BMW.
- TechCrunch
Google fires 28 employees after sit-in protest over controversial Project Nimbus contract with Israel
Google has terminated the employment of 28 staff following a prolonged sit-in protest at the company's Sunnyvale and New York offices. The employees were protesting against Project Nimbus, a $1.2 billion cloud computing contract inked by Google and Amazon with the Israeli government and its military three years ago. The controversial project, which reportedly also provides Israel with the full suite of Google Cloud's artificial intelligence and machine learning technology, allegedly has strict contractual stipulations that prevent Google and Amazon from bowing to boycott pressure.
- Engadget
Google asks court to reject the DOJ’s lawsuit that accuses it of monopolizing ad tech
Google filed a motion on Friday in a Virginia federal court seeking summary judgment for the Department of Justice's antitrust case against it. The DOJ sued Google at the beginning of 2023 for alleged monopolistic practices.
- Yahoo Sports
Michigan given three-year probation, recruiting penalties by NCAA for football violations
This ruling is unrelated to the Michigan sign-stealing investigation, which remains ongoing.
- Yahoo Finance
The stifling impact high inflation has on retirement savers
For many Americans, the daily costs of living have made saving for retirement a struggle. They’ve paused contributions to retirement accounts, pared them back, or dipped into these funds.
- Yahoo Finance
Wall Street bosses tested by calls to strip them of power
Some of Wall Street’s most powerful bosses are facing new shareholder proposals this spring that would strip them of power by separating CEO and chairman seats.
- Autoblog
Tesla job cuts: workers in U.S. and China, 'some really good players too'
Tesla's global job cuts include reducing staff in the U.S. and China, the automakers' two biggest markets, across sales, tech, and engineering.
- Yahoo Finance
AstraZeneca CEO on US-China tensions: 'We have established a very resilient supply chain'
AstraZeneca CEO Pascal Soriot joined Yahoo Finance to discuss the company's earnings today.
- Engadget
Meta asks a judge to throw out an FTC antitrust case
Meta has asked a court to throw out an FTC lawsuit that aims to force the company to unwind its purchases of Instagram and WhatsApp. It argued that the agency "has failed to provide evidence to support its claims."