obligations

The European Union will investigate whether TikTok breached online content rules, revealed Reuters. The social media, owned by ByteDance, may have failed to protect children and ensure transparent advertising and might have to pay a fine of up to 6% of its global turnover. According to Thierry Breton, the European Commissioner for Internal Market, the decision was taken after he analyzed the short video app's risk assessment report and its replies to requests for information. Today we open an investigation into…

The Chargers on Monday announced that they interviewed Jim Harbaugh for their head-coaching job.Having just won a national championship at Michigan, Harbaugh is the eighth candidate the team has publicly identified.The Chargers are searching for a replacement for the fired Brandon Staley. They also need a general manager having dismissed Tom Telesco, both moves coming on Dec. 15.Harbaugh, 60, is the biggest name linked to the Chargers to date. His success both collegiately and in the NFL has elevated him to the top of a…

President Bola Tinubu’s Policy Advisory Council has proposed the sale of Nigeria’s assets to settle existing federal government debt obligations. The advisory council, put together by Mr Tinubu to support the delivery of sustainable and inclusive economic growth, consists of Tokunbo Abiru (chair), Yemi Cardoso, Sumaila Zubairu and Doris Anite, with KPMG listed as the consultant. The council called on Tinubu’s administration to set a policy directive that all proceeds from the sale of assets must be used to settle…

A group of lenders, who claim to collectively own more than 85% of a $1.2 billion term loan taken by Byju’s, has termed the suit filed by the edtech company against their demand for an “accelerated” repayment “meritless”.The group, comprising “21 highly respected global institutional investors”, said it has sought to work “constructively with the company over the past nine months to cure its numerous defaults” and will continue to do so in good faith. “However, in the event Byju’s intentionally remains in default, the…

Twitter fired back at Elon Musk on Monday, accusing the world's richest person of "knowingly" breaching an agreement to buy the social media firm, days after the Tesla chief sought to back out of the $44 billion (roughly Rs. 3,37,465 crore) deal.In a letter sent to Musk, dated Sunday and filed with regulators on Monday, Twitter said it had not breached its obligations under the merger agreement as indicated by Musk on Friday for looking to end the deal."Twitter demands that Mr. Musk and the other Musk Parties comply with…

Photo: T. Schneider (Shutterstock)The after shakes of the recent crypto earthquake have brought down the roofs of several crypto lenders and exchanges, and some of those who once happily played in the crypto sandbox with the big players are now racing to sue before all the money is shaken out of their pockets.KeyFi Inc., which once operated as an asset manager for the crypto exchange Celsius, turned around and sued their former partner in New York State supreme court Thursday, arguing that the broker had been operating a…

Celsius founder and CEO Alex Mashinsky as he appeared in a promotional video for Celsius uploaded to YouTube.Screenshot: Celsius / YouTubeThe Celsius crypto network has halted all trading, including withdrawals, according to a press release from the company released overnight. The unusual move comes as major cryptocurrencies plummeted over the weekend and there are serious questions about whether Celsius will ever allow users to withdraw their money thanks to some rather slipperylanguage in its terms of service.“Due to…