A Deutsche Bank board member advised Wirecard's former CEO to 'finish' the Financial Times, report says

Peter Kneffel/picture alliance via Getty Images A Deutsche Bank board member reportedly advised Wirecard's former CEO to "finish" the Financial Times.The bank's chairman told the board member that his comments were unacceptable, Bloomberg said.The FT's reporting of Wirecard hit its reputation hard, wiping off billions from its market value.Sign up here our daily newsletter, 10 Things Before the Opening Bell.Wirecard's former CEO Markus Braun was advised by a Deutsche Bank board member to "...
Tags: Finance, Banks, Trends, Markets, Bloomberg, Deutsche Bank, Goldman Sachs, Controversies, Donald Trump, Financial Times, Braun, Schuetz, The Financial Times, MicroStrategy, Wirecard, Paul Achleitner

Footwear giant Birkenstock is reportedly exploring a private equity sale that could value it at $5 billion

Sean Gallup/Getty Images Birkenstock is exploring a sale to private equity company CVC, sources told The Financial Times. The deal could value the footwear company at more than $4.85 billion including debt, the sources said. It isn't certain whether the companies will reach an agreement, one of the sources said. Visit Business Insider's homepage for more stories. German footwear giant Birkenstock is exploring a sale that could value it at more than 4 billion euros ($4.85 billion) includin...
Tags: Trends, Luxembourg, Goldman Sachs, CVC, Permira, The Financial Times, Birkenstock, Bethany Biron, Grace Dean, Sean Gallup Getty Images Birkenstock

A former Alibaba driver set fire to himself amid growing concerns about Chinese labor laws

Alibaba founder Jack Ma in January 2018. Wang HE/Getty Images A delivery driver set himself on fire following a pay dispute with a partner of Alibaba subsidiary Ele.me, reported Tuesday. "I want my blood and sweat money back," driver Liu Jin said in videos of the incident. He now has medical bills of more than 1 million yuan ($150,000). In December, a 22-year-old Chinese tech worker died. Her death was widely attributed to the "996" work culture that dominates the industry. Visit Busines...
Tags: Apple, News, China, US, Trends, Walmart, Beijing, Hsbc, Alibaba, Retail, Food Delivery, Workers Rights, Jack Ma, Weibo, Ele.me, Liu

An Alibaba driver set fire to himself amid growing concerns about Chinese labor laws

Alibaba founder Jack Ma in January 2018. Wang HE/Getty Images A delivery driver set himself on fire following a pay dispute with a partner of Alibaba subsidiary Ele.me, reported Tuesday. "I want my blood and sweat money back," driver Liu Jin said in videos of the incident. He now has medical bills of more than 1 million yuan ($150,000). In December, a 22-year-old Chinese tech worker died. Her death was widely attributed to the "996" work culture that dominates the industry. Visit Busines...
Tags: Apple, News, China, US, Trends, Walmart, Beijing, Hsbc, Alibaba, Retail, Food Delivery, Workers Rights, Jack Ma, Weibo, Ele.me, Liu

Chris Krebs and Alex Stamos have started a cyber consulting firm

Former U.S. cybersecurity official Chris Krebs and former Facebook chief security officer Alex Stamos have founded a new cybersecurity consultancy firm, which already has its first client: SolarWinds . The two have been hired as consultants to help the Texas-based software maker recover from a devastating breach by suspected Russian hackers, which used the company’s software to set backdoors in thousands of organizations and to infiltrate at least 10 U.S. federal agencies and several Fortune 5...
Tags: Security, Startups, Facebook, Texas, Russia, US, Tech, Cybercrime, United States, President, Homeland Security, Department Of Energy, Financial Times, Cyberwarfare, Data Security, U.s. Government

SolarWinds has hired ex-CISA chief Chris Krebs and Facebook's former security lead Alex Stamos months after its huge hack

Former CISA chief Christopher Krebs. Tasos Katopodis/Getty Images SolarWinds is hiring former Homeland Security official Chris Krebs and ex-Facebook security chief Alex Stamos to help shore up its security following its huge hack, which government agencies said was probably "Russian in nature." Krebs and Stamos both told The Financial Times they expect to uncover a lot more damage done by the hack than has been reported already. Krebs headed up the Department of Homeland Security's Cyberse...
Tags: Facebook, US, Trends, Homeland Security, Stanford University, Cisa, Solarwinds, Trump, Reuters, Stamos, Alex Stamos, Krebs, The Financial Times, Tech Insider, Steve Marcus, Chris Krebs

Gary Cohn has donated $10 million to charity instead of returning it to Goldman Sachs, despite the bank's attempt to claw back money as a result of the 1MDB bribery scandal

Gary Cohn, former director of the US National Economic Council. Jeenah Moon/Reuters Gary Cohn, former Goldman Sachs COO, has reportedly given $10 million to charity rather than returning it to the bank as requested.  Cohn volunteered weeks ago to make a charitable contribution to Goldman Sachs-sponsored organizations, a representative told The Financial Times.  The bank is attempting to claw back money from executives as a result of the 1MDB bribery scandal. Visit Business Insider's homepa...
Tags: Finance, Wall Street, US, Trends, Malaysia, Goldman Sachs, Abu Dhabi, Donald Trump, Goldman, Justice Department, Trump, Board, Gary, Bloomberg News, Cohn, Gary Cohn

Pfizer has promised that rich people won't be able to jump the queue for its COVID-19 vaccine, following the shot's UK approval

Vincent Kalut / Photonews via Getty Images Wealthy UK residents won't be able to skip to the front of the line for vaccines, officials told The Financial Times. "Equity is at the heart of our decision to supply only the NHS," a Pfizer manager told the newspaper. On Wednesday, the UK approved the COVID-19 vaccine from Pfizer and BioNTech, marking the first such authorization in a Western country. As of Sunday, the UK had reached deals for about 357 million doses of the vaccine from various...
Tags: UK, US, Trends, NHS, Bangladesh, Oxfam, Pfizer, The Financial Times, Matt Hancock, Siphiwe Sibeko, Operation Warp Speed, Joint Committee on Vaccination and Immunisation, Kevin Shalvey, Vincent Kalut Photonews, Getty Images Wealthy UK, The Financial Times Equity

A key Biden COVID-19 advisor says Trump's 'Warp Speed' vaccine scheme should be overhauled to put more emphasis on testing

Former Vice President Joe Biden puts on a mask after a campaign event on July 28, 2020. Andrew Caballero-Reynolds/AFP via Getty Images The US needs to place a bigger emphasis on COVID-19 testing, Dr. Celine Gounder, a member of President-elect Joe Biden's COVID-19 advisory board, told the Financial Times. President Trump's flagship COVID-19 scheme, "Operation Warp Speed" is a government program that funds vaccine development efforts by drugmakers. "We need to be funding not just vaccines,"...
Tags: Yahoo, Congress, US, Trends, Joe Biden, Pfizer, Biden, Donald Trump, Financial Times, Trump, Centers for Disease Control and Prevention CDC, Celine Gounder, Michael Osterholm, The Financial Times, Gounder, Andrew Caballero Reynolds

Apple search crawler activity could signal a Google competitor, or a bid to make Siri a one-stop-shop

Encouraged by the spate of antitrust activity brewing in both the Justice Department and on Capitol Hill, Apple may be developing a search competitor to Google, according to a report in the Financial Times. That would be a move ripe with irony as the push for an end to anti-competitive practices is seemingly creating greater competition among the largest companies which already dominate the technology industry rather than between those established companies and more nimble upstarts. Signs of ...
Tags: Iphone, Apple, Google, TC, Microsoft, California, Siri, Google Search, Tech, Artificial Intelligence, Software, Itunes, Computing, Messages, Department Of Justice, Cupertino

Facebook is taking specific measures to slow the 'spread of viral content' in anticipation of possible unrest on Election day, report says

In this photo illustration a Facebook logo seen displayed on a smartphone. Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images Facebook is preparing specific measures to slow the "spread of viral content" in preparation for violence and unrest related to the election, sources told the Wall Street Journal. Last month, the company's head of global affairs told The Financial Times it planned to restrict content circulation in preparation for potential violence and u...
Tags: Facebook, Mark Zuckerberg, Politics, Elections, Buzzfeed, US, Trends, Violence, Election, Wall Street Journal, Zuckerberg, Kenosha, Election 2020, Kenosha Wisconsin, The Financial Times, Tech Insider

The balance of power is shifting in Asia, and China is gaining on the US

President Donald Trump and Chinese President Xi Jinping in Beijing, November 9, 2017. Reuters/Jonathan Ernst The gap in Chinese and US national power has narrowed, driven by external factors and domestic political decisions, according to the latest Asia Power Index by Australia's Lowy Institute. Neither is likely to dominate the region going forward, meaning the choices and interests of middle powers will be more consequential. Visit Business Insider's homepage for more stories. The gap be...
Tags: Asia, Australia, China, Defense, US, Trends, Beijing, Xi Jinping, Donald Trump, Manila, Trump, Communist Party, Tsang, India Japan, Forbidden City, JIM WATSON

Apple Reportedly on EU 'Hit List' of Big Tech Companies Targeted for Regulation

EU regulators are taking aim at up to 20 big tech companies, including Apple, as part of a "hit list" that seeks to curb their market influence, reports The Financial Times. The plans reportedly involve the demand that larger tech companies face tougher regulations than smaller competitors, data sharing with rivals, and increased transparency on data gathering. The move is part of a wider effort by EU lawmakers to increase competition in the technology industry. The list is to be determined ...
Tags: Apple, Amazon, Europe, Eu, European Union, Antitrust, Korea Herald, Ft.com, Apple Facebook Google, The Financial Times, European Union Europe, Koreaherald.com

The UK considered sending asylum seekers to a volcanic island in the middle of the Atlantic

Ascension Island Barry Lewis / In Pictures via Getty Images Images The UK government asked officials to explore sending asylum seekers to an island in the middle of the Atlantic. The UK Home Secretary considered creating an asylum centre on Ascension Island, a volcanic outcrop over four thousand miles from the UK, according to a report. The idea was dropped after officials examined its viability. The Labour Party said the idea was "inhumane, completely impractical and wildly expensive." Vi...
Tags: Politics, UK, Africa, International, Trends, Atlantic, Britain, Royal Air Force, Tony Abbott, Home Office, Labour Party, Financial Times, Nordic, Atlantic Ocean, Ascension Island, Helena

Facebook says it is ready for violent unrest in the US election, and has plans to restrict the spread of inflammatory posts

Facebook CEO Mark Zuckerberg prepares to testify before a House Energy and Commerce Committee in Rayburn Building on the protection of user data on April 11, 2018. Tom Williams/CQ Roll Call Facebook is preparing in case violence erupts after the November US presidential election. Nick Clegg, its head of global affairs, told The Financial Times the network has plans for scenarios like widespread civil unrest, or an unclear result if mail-in votes are counted slowly. He declined to explain F...
Tags: Facebook, Mark Zuckerberg, Politics, US, Trends, Nick Clegg, News UK, Donald Trump, Sheryl Sandberg, Election 2020, House Energy and Commerce Committee, Clegg, The Financial Times, Tech Insider, 2020 Election, Rayburn Building

TikTok's Chinese owner contradicted 2 of Trump's key boasts about its deal with Walmart and Oracle

US President Donald Trump. JIM WATSON/AFP via Getty Images TikTok parent ByteDance released a statement Monday about the app's US deal with Oracle and Walmart that contradicted two statements made by the president. It asserted that Beijing-headquartered ByteDance will maintain 80% control of the newly formed TikTok Global despite Trump saying it would have "nothing to do with China." The company also denied knowledge of the president's claim that $5 billion would go to the US Treasury to s...
Tags: White House, China, US, Trends, Walmart, Bloomberg, Beijing, Treasury, US Treasury, Donald Trump, Oracle, Trump, Reuters, Fayetteville North Carolina, The Financial Times, Tech Insider

TikTok is racing to finalize a deal that could give Oracle and US investors a majority stake in the app. Here's what we know about the bid that could save TikTok from a US ban.

TikTok; Samantha Lee/Business Insider The future of popular video app TikTok remains uncertain as the Trump administration threatens another ban.  The US Department of Commerce said on Friday it would ban new downloads and software updates of TikTok starting September 20, and then ban TikTok completely on November 12 if no deal were reached to allay the administration's concerns about the app's ties to China. The Treasury Department and TikTok parent ByteDance have reportedly reached a te...
Tags: Enterprise, Media, Microsoft, China, Advertising, US, Trends, Walmart, Bloomberg, Beijing, Missouri, Larry Ellison, Treasury, National Security, US Treasury, Republican

Oracle, TikTok, and the Trump administration have reportedly 'tentatively' reached a deal. Here's everything we know about the partnership that could save TikTok from Trump's threats of a US ban.

Reuters The Treasury Department, ByteDance, and Oracle have reportedly "tentatively" agreed on the terms of a deal in which Oracle would become TikTok's "trusted technology provider" in the US. No details have been made official, but reports indicate the deal is a far cry from President Donald Trump's early demands that TikTok's Chinese parent company sell off its US operations. According to CNBC, Oracle will take a 20% stake in a US-headquartered TikTok entity, and will host millions of ...
Tags: Enterprise, Media, Microsoft, China, Advertising, US, Trends, Walmart, Bloomberg, Beijing, Missouri, Larry Ellison, Treasury, National Security, Republican, Donald Trump

Here's what we know about Oracle's bid to become TikTok's 'trusted technology provider' and potentially save it from Trump's threats of a US ban

Reuters The US government is expected to review a deal where Oracle would become TikTok's "trusted technology provider" in the US. No details have been made official, but reports indicate the deal is a far cry from President Trump's early demands that TikTok-parent ByteDance sell off its US operations. However, the deal's framework does seem to satisfy some of the national-security concerns the US government has long raised. Here's what we know, what's been reported, and what questions we...
Tags: Enterprise, Media, Microsoft, China, Advertising, US, Trends, Walmart, Beijing, Missouri, Larry Ellison, Treasury, National Security, The Wall Street Journal, Donald Trump, Wall Street Journal

A short-seller said Nikola's electric truck business is an 'intricate fraud' and accused its founder of 'numerous lies'

Nikola's Badger pickup truck. Nikola Hindenburg Research, a short-seller, published a lenghty report accusing the electric truck maker Nikola of fraud. The firm published what it claims are text messages, contracts, and other "extensive evidence" showing years of "deception" by founder Trevor Milton.  Nikola has denied all of the claims in Hindernburg Research's report.  General Motors, which recently inked a $2 billion deal with Nikola, said it stands by the company.  Nikola's stock p...
Tags: Transportation, News, Trends, General Motors, Electric Vehicles, Bloomberg News, Milton, Nikola, The Financial Times, Hindenburg, Tech Insider, Trevor Milton, Graham Rapier, Andrew Left of Citron Research, NKLA, Hindenburg Research

Meet Eric Yuan, the founder and CEO of Zoom, who has made over $12 billion since March and now ranks among the 400 richest people in America

Zoom founder Eric Yuan speaks before the Nasdaq opening bell ceremony on April 18, 2019 in New York City. Kena Betancur/Getty Images Eric Yuan, the founder and CEO of video conferencing startup Zoom Technologies, Inc., built a $35 billion video conferencing empire in nine years. Yuan got the idea for Zoom while trying to find a way to connect with his long-distance girlfriend. The 50-year-old billionaire's net worth jumped 396.5% to $17.7 billion in 2020 so far, as the rest of the world su...
Tags: Japan, UK, New York, California, Life, China, New York City, America, San Francisco, Trends, Tech, Cisco, Tesla, Bloomberg, Features, United States

US companies are defying Trump's demands to 'decouple' from China

U.S. President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. REUTERS/Kevin Lamarque/File Photo/File Photo American companies based in China are ignoring Trump's calls to return to the US, a new survey has found. Trump this week reiterated his plan to "decouple" the US economy from China's and transform the country into the "manufacturing superpower of the world." However, research f...
Tags: Hong Kong, News, White House, China, US, International, America, Trends, G20, Economy, Beijing, Xi Jinping, Shanghai, Pwc, Donald Trump, Huawei

Boris Johnson plans to tear up parts of his Brexit agreement with the EU and says leaving with no trade deal is a 'good outcome'

Britain's chief negotiator David Frost (L) and EU's Brexit negotiator Michel Barnier arrive for a working breakfast after a seventh round of talks, in Brussels on August 21, 2020. YVES HERMAN / Contributor / Getty Images Boris Johnson plans to rip up parts of the UK's legally-binding Brexit deal with the EU/ The Financial Times reported that the UK government has a contentious plan to renege on the Withdrawal Agreement agreed last year. The prime minister will use legislation calle...
Tags: Politics, UK, News, International, Trends, Eu, Britain, Ireland, Labour, Republic Of Ireland, Northern Ireland, Nicola Sturgeon, SNP, Boris Johnson, Brussels, Parliament

Trump Ban On Chinese Drone Parts Risks Worsening Wildfires

An anonymous reader quotes a report from The Financial Times: The U.S. interior department's decision not to buy more drones with Chinese parts has made it more difficult to fight wildfires, according to an internal departmental memo that lays bare one cost of the Trump administration's crackdown on Chinese technology. The memo, which was written by the department's Office of Aviation Services earlier this year, found that by the end of the year, the department will have carried out only a quart...
Tags: Tech, Financial Times, Trump, Interior, Bernhardt, U S Interior Department, The Financial Times, David Bernhardt, Susan Combs, Office of Aviation Services

Apple Publishes Human Rights Policy Following Shareholder Pressure Over China Censorship

Apple has published a that commits to "freedom of information and expression," following years of criticism from investors that it shows too much deference to Beijing and accedes to China's censorship demands. The four-page document formalizes Apple's commitment to "respecting the human rights of everyone whose lives we touch," but concedes that the company is "required to comply with local laws," although it stops short of mentioning any particular country. "Where national law and interna...
Tags: Iphone, Apple, Ios, Ipad, Mac, China, Beijing, New York Times, Rumors, Vpn, The Financial Times, US Securities and Exchange Commission Apple, Sondhya Gupta, Hong Kong Umbrella Movement, WhatsApp Facebook Snapchat Twitter

TikTok chief executive Kevin Mayer resigns after Trump call to sell US assets

In a letter to staff Meyer cited a ‘sharply changed’ political environment, after Donald Trump ordered ByteDance to sell up within 90 daysTik Tok’s chief executive, Kevin Mayer, has quit just months after his appointment, amid a “sharply changed” political environment after Donald Trump accused the platform of threatening national security.The Financial Times reported on Thursday that the former Disney executive would be replaced in the interim by Vanessa Pappas, the general manager. In a letter...
Tags: Technology, China, Disney, US, Social Media, US news, Meyer, Donald Trump, Trump, The Financial Times, Kevin Mayer, Bytedance, Tiktok, Vanessa Pappas, Guardian Mayer

Unity’s IPO numbers look pretty … unreal?

Unity, the company founded in a Copenhagen apartment in 2004, is poised for an initial public offering with numbers that look pretty strong. Even as its main competitor, Epic Games, is in the throes of a very public fight with Apple over the fees the computer giant charges developers who sell applications (including games) on its platform (which has seen Epic’s games get the boot from the App Store), Unity has plowed ahead narrowing its losses and maintaining its hold on over half of the game...
Tags: Apple, Google Play Store, TC, Hollywood, Disney, Tech, Pandora, Computing, Tencent, Nintendo, App-store, Mario Kart, Copenhagen, North Carolina, VentureBeat, Epic Games

Buying Arm would give Nvidia firepower against rivals, but a merger would face intense 'regulatory and customer backlash,' analysts say (NVDA)

There's more speculation that Nvidia would buy Arm, with the Financial Times reporting on Friday that the chip giant plans to offer more than $32 billion for the chip design company. Such an acquisition would definitely expand Nvidia's reach in the semiconductor market, giving it more firepower against rivals Intel and AMD, veteran industry analysts told Business Insider. But such a deal would also face intense regulatory scrutiny, they said, and could hurt Arm's relationship with existing cus...
Tags: Google, Softbank, Trends, Intel, House Of Representatives, Nvidia, Amd, Financial Times, Idc, Business Insider, Bernstein, Apple Amazon Facebook, NVDA, The Financial Times, Nathan Brookwood, Ben Bajarin

The UK spent $500 million on a bankrupt satellite operator despite officials warning they could lose everything 'with no wider benefits'

The UK invested $500 million in a bankrupt satellite operator despite high-level warnings about huge financial risk. Boris Johnson's government invested half a billion dollars in OneWeb and now has a 45% share in the firm. The prime minister's chief adviser Dominic Cummings had reportedly been pushing for the UK to back the firm. However, a senior government official had warned that the deal was "unusual" and had "stark" risks, the Financial Times reports. Visit Business Insider's homepage for...
Tags: UK, Trends, European Union, Treasury, Boris Johnson, Parliament, Johnson, Downing Street, Financial Times, Beckett, Dominic Cummings, BEIS, UK Space Agency, OneWeb, Alok Sharma, The Financial Times

Giroir Says Of Health Experts: ‘None Of Us Lie’ Amid Trump Attempts To Sow Fauci Distrust

Assistant Secretary for Health Brett Giroir said on Tuesday that the nation’s health experts do not lie to the public, contrary to claims by President Donald Trump this week that implied the nation’s top infectious diseases expert, Dr. Anthony Fauci, and others, have lied in relaying critical information about the pandemic’s impact in the United States. When asked whether the experts aren’t telling the truth, Giroir who is a prominent member of the White House coronavirus task force told th...
Tags: News, Cbs News, White House, United States, Donald Trump, Abc News, Anthony Fauci, Trump, Peter Navarro, Sean Hannity, Fauci, Sun Belt, The Financial Times, Brett Giroir, President Trump, Chuck Woolery