DIRS.INFO The most relevant business & tech news

☆ A darling of US conservatives, Iran’s top opposition group may face an uncertain future
▼ + stars: | 2023-07-10 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +9 min

But recent setbacks for the most powerful Iranian opposition group have some observers wondering whether its glory days are numbered. The MeK believes these actions were part of a “policy of appeasement” of the regime in Tehran, a top representative from the group told CNN in an email interview. Gobadi told CNN the raid “was carried out at the behest or under pressure” from Iran. ‘Illegal and subversive activity’An Albanian foreign ministry coordinator told CNN by email that the country has not provided any seized material to Iran. Gobadi told CNN that that speakers or attendees have never received payments from the MeK.

Persons: Mike Pompeo, John Bolton, Mike Pence, Saddam Hussein, bode, ” Shahin Gobadi, Ashraf, Gobadi, “, ” Gobadi, cyberattack, Albania “, Saud, Maryam Rajavi, Bryan Olin Dozier, Prince Turki al, Faisal, Al Faisal, ’ “, Emanuel Macron, Ebrahim Raisi, Trita Parsi, ”, Donald Trump, Rudy Giuliani, Liz Truss, Ali Ahmadi, ” Ahmadi, Alex Vatanka, ” Vatanka Organizations: CNN, United States National Security, Foreign Affairs, National Council of Resistance, Paris, Washington Summit, Organization of Iranian, Communities, Hyatt, Quincy Institute, British, Geneva Centre, Security, Middle East Institute Locations: Iran, Islamic Republic, Albania, France, Tehran, Paris, Tirana, Albanian, Saud Arabia, Washington ,, Saudi Arabia, Saudi, al, Riyadh

☆ A Fatal Shooting and a Hijab Ban: Two Faces of France’s Racial Divisions
▼ + stars: | 2023-07-02 | by ( Catherine Porter | ) www.nytimes.com time to read: +1 min

Mama Diakité is a French citizen, raised in the suburbs of Paris by two immigrant parents, not far from where a 17-year-old boy was shot by the police during a traffic stop last week. As cars burned and barricades went up in her neighborhood over the shooting, she got word from the country’s top administrative court that she could not play the most popular sport in France — soccer — while wearing her hijab. On Thursday, the Conseil d’Etat upheld the French Football Federation’s ban on wearing any obvious religious symbols, in keeping with the country’s bedrock principle of laïcité, or secularism. The decision inspired a storm of feelings in Ms. Diakité — shock, anger, disappointment. One involved a fatal traffic stop that French officials have condemned; the other involved a charged debate on the visibility of Islam in French society.

Persons: Diakité, “, ” Organizations: French Football Locations: French, Paris, France

☆ Amazon appeals to French court to scrap planned 3 euro book delivery fee
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

PARIS, June 27 (Reuters) - Online retailer Amazon.com (AMZN.O) has appealed to France's highest administrative court to overturn part of a law seeking to charge a minimum 3-euro ($3.3) delivery fee for books purchased online, it said on Tuesday. The law is due to come into effect in October and represents an increase to Amazon's previous charge of a single euro cent on book deliveries in France. Previous French governments have issued similar legislation, which has been aimed at protecting local, independent bookstores in the face of competition from Amazon. Amazon says such measures will hit lower-income people who may live in rural areas without any bookshops. Guillaume Husson, who heads the Syndicat de la Librairie Francaise bookshops union, criticised Amazon's move and said it showed how the giant online retailer wanted to have a monopoly on the online book market.

Persons: Frederic Duval, Guillaume Husson, Amazon's, Elizabeth Pineau, Emelia Sithole Organizations: Amazon.com, Amazon, French Ministry of Culture, Librairie Francaise, Thomson Locations: Amazon France, France

[1/3] Chief Executive Officer of Credit Suisse, Thomas Gottstein, speaks during the fourth annual Future Investment Initiative in Riyadh, Saudi Arabia, January 27, 2021. REUTERS/Ahmed Yosri/File PhotoZURICH, June 22 (Reuters) - A group of Credit Suisse AT1 bondholders has filed a class action suit accusing former executives at the Swiss bank, including three past chief CEOs, of being responsible for the bank's downfall. "Credit Suisse’s directors and senior executives, and the rotten culture they instilled and fostered, destroyed trust in the bank, which led to its collapse," the lawsuit said. The lawsuit also accused executives of "creating and perpetuating a culture at Credit Suisse that placed profits, excessive risk-taking, and self-dealing over sound risk management and compliance with the law." Last month, Switzerland’s Federal Administrative Court said it has received 230 claims against the country’s financial regulator FINMA after it wrote off the value of Credit Suisse’s AT1 bonds.

Persons: Thomas Gottstein, Ahmed Yosri, Tidjane Thiam, Brady Dougan, litigators, Noele, Tomasz Janowski Organizations: Credit Suisse, Investment, REUTERS, UBS, Court, Thomson Locations: Riyadh, Saudi Arabia, ZURICH, Swiss, New York, Switzerland’s Federal

☆ FTC to argue Microsoft's deal to buy Activision should be paused
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, June 22 (Reuters) - The U.S. Federal Trade Commission on Thursday will argue in federal court for a preliminary injunction to temporarily block Microsoft's acquisition of videogame maker Activision Blizzard, stopping the deal from closing before the government's case against the deal is heard. But if the court pauses the deal, Microsoft and Activision will have to agree to extend it past a July 18 termination date built into their original agreement. The FTC fears that without action by the federal court, the combined firm "could alter Activision's operations and business plans" and could allow Microsoft to access sensitive business information. Resolving the U.S. lawsuit is one of several key antitrust battles Microsoft and Activision have fought around the world to get the deal finalized. Microsoft CEO Satya Nadella and Activision CEO Bobby Kotick are among the witnesses planned for a five-day evidentiary hearing.

Persons: Satya Nadella, Bobby Kotick, Chris Sanders, Leslie Adler Organizations: U.S . Federal Trade Commission, Activision, Microsoft, Microsoft Corp, Activision Blizzard Inc, FTC, EU, Nintendo, Sony Group, Sony, Thomson Locations: San Francisco

☆ US FTC asks court to block Microsoft acquisition of Activision
▼ + stars: | 2023-06-12 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

June 12 (Reuters) - The Federal Trade Commission asked a court to temporarily block Microsoft Corp's (MSFT.O) acquisition of Activision Blizzard (ATVI.O) on Monday, seeking to halt the deal from closing before the government's case against the $69 billion deal is heard. The FTC said Microsoft and Activision had signaled the deal could close as soon as Friday and asked a federal judge to block any final agreement before 11:59 p.m ET June 15. Shares in Microsoft closed up 1.5% Monday, while Activision fell 0.8%. "We welcome the opportunity to present our case in federal court," said Microsoft president Brad Smith in a statement. When announcing the deal in January 2022, Microsoft said they expected it would close in their 2023 fiscal year, which ends in June.

Persons: Brad Smith, Joe Biden, Rami Ayyub, David Shepardson, Doina Chiacu, Nick Zieminski, Conor Humphries, Anna Driver Organizations: Federal Trade Commission, Microsoft, Activision Blizzard, FTC, Activision, Nintendo, Sony Group, EU, Sony, U.S, Thomson Locations: Washington

☆ FTC to seek federal court order temporarily blocking Microsoft-Activision deal
▼ + stars: | 2023-06-12 | by ( Brian Fung | ) edition.cnn.com time to read: +1 min

CNN —The Federal Trade Commission plans to file in federal court to prevent Microsoft and Activision-Blizzard from closing their $69 billion merger, according to a person familiar with the matter. The FTC sued Microsoft in the agency’s administrative court in December, challenging the deal as anticompetitive. “We welcome the opportunity to present our case in federal court,” Brad Smith, Microsoft’s president, said in a statement. Microsoft has struck 10-year licensing agreements with some game platforms that will ensure those titles remain available. Antitrust officials from the European Union blessed the deal last month, saying that Microsoft’s concessions were enough to address its competition concerns.

Persons: ” Brad Smith Organizations: CNN, Federal Trade Commission, Microsoft, Activision, Court, Northern, Northern District of, FTC, Sony, “, Antitrust, European Union Locations: Northern District, Northern District of California, U.S, European

☆ Countdown to mega merger - how Credit Suisse wobbled and UBS rushed to rescue
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +6 min

March 19: An emergency rescue of Credit Suisse, brokered by the Swiss government, central bank and financial regulator, is announced. March 23: Switzerland's financial market regulator FINMA defends its decision to impose steep losses on Credit Suisse bondholders, calling the decision legally watertight. Separately, some holders of Credit Suisse AT1 bonds wiped out by the merger instruct lawyers to represent them for possible litigation to recover losses. April 6 - UBS CEO Ermotti tells Credit Suisse staff to stay focussed on the business, but warns of "change and hard decisions" ahead. April 15 - The Federal Reserve approves UBS's acquisition of the U.S. subsidiaries of Credit Suisse.

Persons: Greensill, FINMA, Sergio Ermotti, Axel Lehmann, Ulrich Koerner, Ermotti, John Revill, Tomasz Janowski Organizations: UBS, Credit Suisse, Suisse, U.S . Securities, Exchange Commission, SEC, Silicon Valley Bank, Swiss National Bank, Saudi National Bank, Credit, Swiss Bank Employees Association, Federal Reserve, Court, Switzerland's Social Democratic Party, Thomson Locations: ZURICH, Silicon, Swiss, Switzerland

☆ Polish president backpedals on law on undue Russian influence
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

WARSAW, June 2 (Reuters) - Poland's President Andrzej Duda said on Friday he would propose amendments to a law on undue Russian influence he signed this week, reacting to criticism that it could result in banning opposition politicians from public office. Duda on Monday signed into law the bill proposed by the ruling party to let a panel investigate whether opposition parties allowed Poland to be unduly influenced by Russia. A spokesman for ruling nationalists Law and Justice (PiS) suggested the amendments could be acceptable for the party. "The amendment proposed by the president as a result of social pressure does not change anything. The entire law establishing this illegal kangaroo court should end up in the trash," Wladyslaw Kosiniak-Kamysz, leader of the Polish Peasants' Party (PSL), wrote on Twitter.

Persons: Andrzej Duda, Duda, Monday, PiS, Jarosław Kaczynski, Rafal Bochenek, Wladyslaw Kosiniak, Anna Wlodarczak, Andrew Cawthorne, Emelia, Angus MacSwan Organizations: WARSAW, Constitutional, U.S . State Department, European, Justice, Polish Peasants ' Party, Twitter, Thomson Locations: Poland, Russia, Polish

☆ EU, US concerned about Polish law that could ban people from public office
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +3 min

BRUSSELS/WARSAW, May 30 (Reuters) - The European Commission and U.S. State Department have expressed concern about a new Polish law they say could effectively ban individuals deemed to have acted under Russian influence from holding public office without providing proper judicial review. The law, which Poland's president on Monday said he would sign into law, was developed by the eurosceptic and nationalist ruling PiS party ahead of parliamentary elections due in October or November. Poland's foreign ministry rejected the criticism, saying the law provided for "due process in a fair procedure". "We have a special concern now about the situation in Poland with the creation by law of a special committee able to deprive citizens, individuals, from their right to be elected to public office," EU Justice Commissioner Didier Reynders said. Any party subject to the commission's decision will have the right to appeal in an administrative court, the ministry said.

☆ Credit Suisse Investors Challenge Switzerland’s $17 Billion Bond Write-Down
▼ + stars: | 2023-04-21 | by ( Alexander Saeedy | Margot Patrick | ) www.wsj.com time to read: 1 min

Credit Suisse Group AG bondholders have launched a legal challenge in Switzerland against regulators’ decision to write down $17 billion in securities as part of UBS Group AG’s rescue of the troubled bank last month. Bondholders holding about 4.5 billion Swiss francs ($5 billion) of Credit Suisse’s canceled debt want the decision to write down their bonds revoked or amended, according to an outline of their appeal made in a Swiss administrative court and reviewed by The Wall Street Journal. The bondholders are alleging the total write-down was disproportionately punitive to them and violated their property rights, according to the summary of the legal filing.

☆ Factbox: Lawsuits lodged over state-backed Credit Suisse takeover
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +2 min

April 21 (Reuters) - Several lawsuits have been filed over the terms of last month's emergency deal to save Swiss lender Credit Suisse (CSGN.S) by selling it to its bigger rival UBS (UBSG.S). Around 16 billion Swiss francs of Additional Tier 1 (AT1) Credit Suisse debt was written down to zero, in a shock to markets. But it has declined to name claimants or provide an ongoing tally of those lodged by bondholders or their lawyers. UNITED STATESOne of the first proposed U.S. class action s against Credit Suisse over alleged false or misleading statements pre-dates the rescue. Credit Suisse declined to comment.

☆ Credit Suisse bondholders sue Swiss authorities
▼ + stars: | 2023-04-21 | by ( ) edition.cnn.com time to read: +2 min

Investors representing more than 4.5 billion Swiss francs ($5 billion) of Credit Suisse bonds have sued the Swiss financial regulator over its decision to wipe out their investments during last month’s emergency government-orchestrated takeover. Law firm Quinn Emanuel Urquhart & Sullivan, which is representing the bondholders, said Friday the move was the first in a series of steps to seek redress for clients it said had been unlawfully deprived of their property rights during the takeover of Credit Suisse (CS) by bigger rival UBS (UBS). The appeal against FINMA, the Swiss Financial Market Supervisory Authority, which ordered the writedown, was filed on April 18 in the Federal Administrative Court in St Gallen, north-east Switzerland. “FINMA’s decision undermines international confidence in the legal certainty and reliability of the Swiss financial center,” said Thomas Werlen, Quinn Emanuel’s Swiss managing partner. The Federal Administrative Court said it was still receiving complaints but declined to name claimants or comment on how many had been lodged by bondholders or their lawyers.

It is the first major lawsuit in the public domain to be filed over the Swiss decision to wipe out around $18 billion of Credit Suisse's Additional Tier 1 (AT1) debt during the 3 billion Swiss franc all-share rescue deal last month, which stunned markets and alerted litigators. The appeal against FINMA, the Swiss Financial Market Supervisory Authority that ordered the writedown, was filed on April 18 in the Federal Administrative Court in St Gallen, north east Switzerland. "FINMA's decision undermines international confidence in the legal certainty and reliability of the Swiss financial center," said Thomas Werlen, Quinn Emanuel's Swiss managing partner. FINMA declined to comment and Credit Suisse did not immediately respond to a Reuters request for comment. ($1 = 0.8941 Swiss francs)Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ More chaos at Egyptian champions Zamalek as club president excluded
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

April 17 (Reuters) - Five-time African champions Zamalek suffered another blow in a chaotic season as a local administrative court in Egypt ordered the removal of club president Mortada Mansour, days after the team appointed Colombian coach Juan Carlos Osorio. Mansour told his YouTube channel, which has more than half a million followers, "I will not talk about the ruling now because judgment is the title of truth." Mansour had previously threatened to ban a group of supporters after they arranged themselves in the shape of a giant "angry face" emoji in an eye-catching protest during an African Champions League match against Sudan's Al-Merreikh. Zamalek are fourth in the Egyptian Premier League on 39 points from 23 matches, 11 points behind leaders Al-Ahly who have played 20 games. Reporting by Osama Khairy, Additional reporting by Taha Mohamed and Mohamed Sadek Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

☆ FTC Abandons Challenge to Meta’s Acquisition of Virtual-Reality Startup
▼ + stars: | 2023-02-24 | by ( Jan Wolfe | ) www.wsj.com time to read: 1 min

The FTC had argued that Meta Platforms Inc. purchase of Within Unlimited would hurt competition in the market for virtual-reality fitness products. WASHINGTON—The Federal Trade Commission on Friday dropped its last remaining effort to block Meta Platforms Inc.’s acquisition of a virtual-reality startup, handing a final victory to the Facebook parent. The announcement that the agency was abandoning an administrative proceeding against the deal came less than a month after a federal judge denied the FTC’s request for a court order halting Meta’s purchase of Within Unlimited. That ruling by U.S. District Judge Edward Davila didn’t directly affect the parallel challenge brought by the FTC in its in-house administrative court, and it had been unclear if the agency would push forward with the administrative case.

☆ German peace activists park rusty tank outside Russian embassy
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +2 min

Berlin, Feb 23 (Reuters) - Activists protesting against Russia's invasion of Ukraine parked a destroyed, rusty tank directly in front of the Russian embassy in Berlin on Friday, bringing a piece of the battlefield to the centre of the German capital. The Russian embassy was not available for comment. They said it was transferred to Germany with the help of the Ukrainian Defence Ministry and the Ukrainian National Museum of Military History. The district office of Berlin's Mitte borough rejected Lenze's and Giebel's application to display the tank last year, citing concerns including road safety. The tank will subsequently tour through Europe and may end up in a German tank museum.

☆ Colombia court moves to metaverse to host hearing
▼ + stars: | 2023-02-24 | by ( Isabel Woodford | ) www.reuters.com time to read: +3 min

[1/3] A magistrate speaks during a Colombian court hearing held in the Metaverse, February 15, 2023, in this still image taken from a social media video. Bogota?s Municipal Criminal Court 69/via REUTERSFeb 24 (Reuters) - A Colombian court this month hosted its first legal trial in the metaverse, and now hopes to experiment again with virtual reality, authorities told Reuters. At the two-hour hearing held by Colombia's Magdalena Administrative court, participants in a traffic dispute appeared as avatars in a virtual courtroom. "It felt more real than a video call," Quiones told Reuters on Friday, describing the metaverse experience as "amazing." Nonetheless, Colombia's court proceedings on Feb 15 - streamed to Youtube - went off without too much of a glitch, bar some dizzying camera movement and some distorted movements.

☆ Volkswagen faces possible recalls after environmental NGO wins emissions software lawsuit
▼ + stars: | 2023-02-20 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: A Volkswagen logo is pictured in a production line at the Volkswagen plant in Wolfsburg, Germany March 1, 2019. The NGO, Deutsche Umwelthilfe, is calling for Volkswagen Golf vehicles to be recalled because of software manipulation to emissions mechanisms, alleging the KBA authority should never have allowed these vehicles to be released to the market. “The case was effectively successful,” a court spokesperson said, meaning the decision by the authority to release the vehicles must be revoked. Volkswagen said in a statement it would wait to receive the full reasoning of the court to decide on next steps. The ruling concerns software Volkswagen installed to control the recirculation of exhaust gases, which EU courts have said is illegal in certain conditions but Volkswagen views as in line with the law.

Dozens of employees at a Tesla factory in upstate New York have been fired just days after launching a union campaign, organizers alleged Thursday. In a complaint with the National Labor Relations Board, Workers United said Tesla fired more than 30 workers from its Autopilot unit at a Buffalo plant as a retaliatory measure and to discourage union activity. Employees at the Buffalo facility on Tuesday launched organizing efforts under the union Tesla Workers United. Workers received an email Wednesday evening laying out a new policy that prohibits them from recording workplace meetings without the permission of all participants, Tesla Workers United said in a release Thursday. In 2017, Tesla fired a union activist named Richard Ortiz, and in 2018, Musk tweeted a comment found to have violated federal labor laws.

The most contentious reforms for those in Poland's ruling camp concern the judicial system. To become law, the bill needs to be signed by President Andrzej Duda. "We will now continue to follow the next steps in the legislative process," Didier Reynders, EU Commissioner for Justice, said on Twitter. Relaxing rules on wind farm investment is also among the milestones Poland has to pass to unlock the EU funds. The amendment will slash potential onshore wind investments by 60-70%, effectively discouraging them, according to the Polish Wind Energy Association which groups some 150 investors.

☆ Italy supreme court upholds nullity of ruling over Vivendi's control of TIM
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

MILAN, Jan 25 (Reuters) - Italy's supreme court upheld a ruling which had annulled a market regulator's resolution indicating French media group Vivendi (VIV.PA) was exercising 'de facto control' of Telecom Italia (TIM) (TLIT.MI), a court document showed on Wednesday. Italian market watchdog Consob ruled that Vivendi, TIM's top shareholder with a 24% stake, took control of two-thirds of the Italian phone company's board in 2017. Activist fund Elliott eventually wrested control from Vivendi the following year. In 2020, Italy's top administrative court annulled the resolution of Consob, which subsequently appealed that decision. The supreme court's ruling came as Vivendi is calling for governance changes in Telecom Italia to better reflect the relative weight of shareholders.

☆ Italy court ruling allows work on Tuscan LNG terminal to proceed
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +3 min

[1/3] A view shows the spot where a floating storage and regasification unit will be set up in front of the port city of Piombino, Italy, October 20, 2022. The court said on Thursday it had scheduled a new hearing on March 8 to assess longer-term safety issues relating to the floating terminal. The infrastructure needs to be operational by April to help Italy replace dwindling Russian gas supplies and to re-fill its gas storage by next winter. The Piombino terminal will have a capacity of 5 billion cubic metres (bcm) and will allow Italian energy groups to increase LNG imports to the country. In Italy there are currently three LNG terminals with a total capacity of nearly 17 bcm.

☆ Polish PM and ruling party boss send mixed signals on court reform
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: +3 min

However, on Saturday ruling party leader Jaroslaw Kaczynski, widely seen as Poland's de facto ruler, was quoted as saying the bill containing the amendments could be "extremely destructive". "The dispute with the European Commission must be ended, because the real conflict is taking place east of Poland today," Morawiecki wrote in a Facebook post. The comments by PiS leader Kaczynski added to uncertainty over the bill's passage. Judges would also not face disciplinary action for questioning the independence of colleagues appointed by organs that critics say are politicised. ($1 = 0.9450 euros)Reporting by Alan Charlish; Editing by Helen Popper and David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Explainer: Germany's Reichsbuerger: Searching for an emperor and fascinated by guns
▼ + stars: | 2022-12-07 | by ( Sabine Siebold | ) www.reuters.com time to read: +4 min

REICHSBUERGER MOVEMENT NUMBERS AND STRUCTUREGermany's domestic intelligence service Verfassungsschutz put the Reichsbuerger movement under observation in 2016, shortly after one of its members shot dead a policeman during a raid at his home. Today, the Verfassungsschutz attributes some 21,000 people to the Reichsbuerger, with around 5% or 1,150 of them seen as far-right extremists. Some 2,100 Reichsbuerger are prepared to use violence to reach their goals, according to the 2021 annual report of the agency. REICHSBUERGER BELIEFSMembers of the Reichsbuerger (Citizens of the Reich) do not recognise modern-day Germany as a legitimate state. Other members of the Reichsbuerger argue Germany is still occupied and under military occupation.

Search resuls for: "Administrative Court"

25 mentions found