Author: Alan Lorenz

China Blocks Series of Crypto-Related Social Media Accounts
7Jun By Alan LorenzNo Comments
Business, China, News

China Blocks Series of Crypto-Related Social Media Accounts

China has blocked many accounts on the Chinese Weibo platform, similar to Twitter, for their link to cryptos. The ban is in line with Beijing's stricter policy against trading and mining cryptocurrencies.   The blockade is certainly not the last action China will take against digital currencies. Many crypto activities in China are expected to be linked to the country's criminal law, analysts, and financial regulators. This means that mining and trading digital coins may become an illegal activity shortly. Beijing vowed last month to crack down on bitcoin mining and trading. That happened shortly after three agencies in the country banned crypto-related financial payment services. The Weibo interventions also come at a time when Chinese media are harsher in their coverage of crypto...
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The European Commission Starts Investigation into Possible Abuse of Facebook
4Jun By Alan LorenzNo Comments
Technology, Business, Europe, News

The European Commission Starts Investigation into Possible Abuse of Facebook

The European Commission begins a formal investigation into Facebook. According to Brussels, the social media company may have abused its dominant position to promote its own Marketplace service.   This would put competitors in the advertising market at a disadvantage and violate European competition rules. Facebook would also use data from advertisers on the platform to compete with those same advertisers. The marketplace is a service on which users can place personal advertisements, such as looking for or want to sell things. Facebook's nearly 3 billion users may be more likely to opt for the service than competitors such as eBay, Marktplaats or Craigslist because of the company's promotions. In addition, Facebook receives a lot of data via the service with which the American grou...
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Cinema Chain AMC Continues to Occupy Minds on Wall Street
3Jun By Alan LorenzNo Comments
Business, News, US

Cinema Chain AMC Continues to Occupy Minds on Wall Street

Cinema chain AMC Entertainment was also in the spotlight with investors on Wall Street on Thursday.   The company, which saw its stock market value double a day earlier, filed an application with the US stock watchdog SEC to sell almost 12 million shares in the future. The stock plunged more than 16 percent, where it seemed before the market that it would continue its rise. The leading Dow-Jones index lost 0.5 percent to 34,413 points in early trading. The broad S&P fell 0.6 percent to 4,182 points. The Nasdaq also stepped back. The tech gauge fell 0.9 percent to 13,554 points.
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Car Dealers Sell Record Number of Second-Hand Cars
2Jun By Alan LorenzNo Comments
Business, News

Car Dealers Sell Record Number of Second-Hand Cars

Recently, car dealers are selling more used cars than ever before. According to new figures from trade association BOVAG, 561,100 used passenger cars were involved in the first five months of this year. That's almost 11 percent more than a year ago and the highest number ever.   The industry attributes its success to the need for personal transportation. It has grown significantly since the start of the corona crisis. It also emerged this week that new car sales are recovering. In January and February, used car sales were still in a dip because the showrooms were forced to close. But since the reopening at the beginning of March, the specialist trade has been selling around 120,000 second-hand passenger cars every month. Last month, 123,629 used cars were delivered, which is a reco...
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Catholic Church Tightens Penalties for Child Abuse
1Jun By Alan LorenzNo Comments
News

Catholic Church Tightens Penalties for Child Abuse

Pope Francis tightens sentences for priests guilty of sexually abusing children. Criminal law within the Catholic Church has also become stricter for several other offences.   They are the most drastic changes in almost forty years. The Catholic Church has been working on amendments to the so-called Codex of Canon Law since 2009. Critics argue that this code is outdated and not transparent. The new version, which will come into effect from December 8, states, among other things, that priests will be removed from office after sexual abuse of minors and will also face "other just punishments". This also applies to priests who are guilty of grooming children or vulnerable adults. Grooming occurs when a perpetrator tries to gain the trust of another to abuse this person sexually. The...
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Corona Vaccine Available to All Adults in France
31May By Alan LorenzNo Comments
France, Europe, News

Corona Vaccine Available to All Adults in France

From Monday, there will no longer be an age limit for adults to receive a vaccine against the coronavirus in France.   Prime Minister Jean Castex announced this earlier this month. All residents of eighteen years of age or older are now eligible for a vaccine. The initiation of vaccination for all adults is two weeks earlier than expected. It was initially planned for mid-June, but France is more than ever on the right track, according to the prime minister. More than 25 million inhabitants of France have received their first corona pepper so far. This is almost 40 percent of the population. Nearly 12 million inhabitants, just over 20 percent of the population, have been fully vaccinated. The corona situation across the country has improved significantly in recent weeks, allowing...
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The European Commission in Action Against TikTok for Hidden Advertising for Children
28May By Alan LorenzNo Comments
Business, Europe, News

The European Commission in Action Against TikTok for Hidden Advertising for Children

The European Commission takes action against video app TikTok following consumer complaints about hidden marketing and aggressive advertising techniques targeting children.   Brussels wants the company to adapt its policies and commercial practices and comply with EU consumer protection rules. The day-to-day EU administration has therefore started a "formal dialogue" with the popular platform. TikTok will be given one month to discuss the matter with the committee and the European consumer authorities and reach a satisfactory solution. The umbrella European consumer organization BEUC had made it clear earlier this year that something was up after complaints about TikTok's advertising practices from various countries. EU Commissioner Didier Reynders (Justice): "The current pandemi...
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Biden Wants US Federal Budget of $ 6 Trillion
27May By Alan LorenzNo Comments
US, Business, News

Biden Wants US Federal Budget of $ 6 Trillion

US President Joe Biden will propose a $ 6 trillion budget. The New York Times reports this based on documents that the newspaper has seen.   It is said to be the highest federal expenditure since World War II. Biden will announce his budget plans for the fiscal year 2022 starting in October on Friday. Earlier, he had already developed great ambitions for investment in infrastructure, worth $ 2 trillion, and a stronger social safety net, involving $ 1.8 trillion. In addition to roads and bridges, it also concerns expenditure on childcare and education, for example. According to The New York Times, total federal spending will reach $ 8.2 trillion by 2031. The White House wants to pay for the expenditure through higher taxes on the wealthiest Americans and large companies, among oth...
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Official Olympic Games Sponsor Calls for Cancellation
26May By Alan LorenzNo Comments
Sports, News

Official Olympic Games Sponsor Calls for Cancellation

The Japanese newspaper Asahi Shimbun, an official domestic partner of the Tokyo Olympics, has called in an article on Wednesday to cancel the sporting event this summer.   According to the newspaper, the risks to public safety and the pressure that the Games are putting on health because of the corona pandemic are too significant. "We ask Prime Minister Yoshihide Suga to calmly and objectively assess the situation and decide not to let the event go ahead this summer," the article headed "Decision to Cancel." Wednesday morning (local time), the article's headline had already been retweeted more than 21,000 times. There are more than 60 Japanese companies that have partnered with the event, including several newspapers. Initially, they all agreed to move the event from 2020 to 2021....
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The Founder of the Chinese Telecom Giant Huawei Calls for Diversification
25May By Alan LorenzNo Comments
Technology, News

The Founder of the Chinese Telecom Giant Huawei Calls for Diversification

The founder of the Chinese telecom giant Huawei calls on his employees to accelerate the group's diversification. The aim is to circumvent US sanctions on smartphones by making more products yourself.   The telecom giant has been suffering from the trade war between China and the United States for years. Washington blacklisted the company in 2019, barring Huawei from accessing US technologies for its products, including the electronic chips essential to its phones, as well as software services like Google's. This situation also weighed heavily on Huawei's sales. In an internal note to his employees seen by AFP, Huawei founder Ren Zhenfei is now calling for a total transformation of the group. Among other things, the autonomy of its software must be accelerated. "For example, the Un...
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