Author: Admin
The U.S. Department of Labor has closed its investigation into Scale AI’s compliance with the Fair Labor Standards Act, a person familiar with the matter told Reuters on Friday. The FLSA is a federal law that establishes minimum wage, overtime pay, recordkeeping and other labor norms.The investigation was looking into Scale AI’s compliance with fair pay practices and working conditions. It was initiated nearly a year ago under the former President Joe Biden’s administration, the company had said in March.Scale AI said it was “pleased with the update.” Founded in 2016, Scale AI is a data labeling startup backed by tech…
[MANILA] The Philippine economy expanded slower than expected in the first quarter, underscoring challenges for policymakers even before the Trump administration’s trade war rocked markets and hurt global sentiment.Gross domestic product expanded 5.4 per cent in the January-to-March period from a year earlier, the statistics agency said Thursday (May 8). That’s below the median estimate of 5.7 per cent in a Bloomberg News survey, but is still faster than the 5.3 per cent pace in the last quarter of 2024. On a seasonally-adjusted basis, the economy expanded 1.2 per cent from the prior quarter, below the median estimate of 1.6…
Jonathan McKernan testifies during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., February 27, 2025.Annabelle Gordon | ReutersPresident Donald Trump plans to nominate Jonathan McKernan to be undersecretary of domestic finance at the Treasury Department, months after the president tapped McKernan to lead the embattled Consumer Financial Protection Bureau, Treasury Secretary Scott Bessent announced Friday.A statement issued by the Treasury Department did not say that Trump has pulled McKernan’s CFPB nomination from Senate consideration.But it does note that McKernan “has been an advisor at the Treasury Department while awaiting Senate confirmation…
For weeks, both US and China have played hardball, escalating tariffs and seeking to out-stare each other, but recent reports suggest concessions…
Pinterest recently agreed to pay $34.7 million to settle a lawsuit from an early adviser who claimed she had co-created the platform without compensation.Christine Martinez, 44, who was a friend of Ben Silbermann and Paul Sciarra, two of Pinterest’s three co-founders, sued the company in 2021 for breach of implied contract, idea theft, unjust enrichment and unfair business practices. She said she came up with many ideas for the app — like organizing images on “boards” — but was never paid for her contributions, despite promises she would be.Pinterest, a virtual pinboard company that has many female users, disclosed the…
Charlie Woods failed to get out of local qualifying for the U.S. Open, the second straight year the son of Tiger Woods missed out.The 16-year-old Woods was among a record 10,202 entries for the U.S. Open. He improved from last year’s score in 18-hole local qualifying, posting a 3-over 75 at Wellington Golf Club on Thursday. That left him seven shots short of being among those who advanced to the 36-hole final stage. A year ago, he shot 81 in the local U.S. Open qualifier.Tiger Woods, who has three U.S. Opens among his 15 professional majors, never had to go…
Sir Keir Starmer will join other European leaders in Kyiv on Saturday for talks on the “coalition of the willing”.The prime minister is attending the event alongside French President Emmanuel Macron, recently-elected German Chancellor Friedrich Merz and Polish Prime Minister Donald Tusk. It will be the first time the leaders of the four countries will travel to Ukraine at the same time – with their meeting hosted by President Volodymyr Zelenskyy.Follow latest updates on the Ukraine war Image: Sir Keir and Volodymyr Zelenskyy during a meeting in March. Pic: AP Military officers from around 30 countries have been involved in…
[FRANKFURT] Commerzbank’s first-quarter profit unexpectedly rose to the highest in 14 years as commissions increased, and the German lender set aside less money than expected for souring loans.Net income increased 12 per cent from a year earlier and operating profit hit a record, Commerzbank said in a statement on Friday (May 9) from Frankfurt. Loan loss provisions of 123 million euros (S$179.6 million) came in below analysts’ estimate of 162 million euros.Commerzbank has “a very well diversified, well managed loan portfolio, and that now pays off,” chief executive officer Bettina Orlopp said in an interview on Bloomberg TV. “And therefore…
[BEIJING] Nvidia plans to release a downgraded version of its H20 artificial intelligence (AI) chip for China in the next two months, following US export restrictions on the original model, three sources familiar with the matter told Reuters.The US chipmaker has notified major Chinese customers, including leading cloud computing providers, that it aims to release the modified H20 chip in July, two of the sources said. The downgraded H20 represents Nvidia’s latest attempt to maintain its presence in one of its most crucial markets in the face of Washington’s expanding efforts to restrict China’s access to advanced semiconductor technology. The H20, which…
The Trump administration is “actively looking at” the possibility of suspending the writ of habeas corpus to handle people the administration says aren’t in the country legally, White House deputy chief of staff Stephen Miller said Friday. A writ of habeas corpus requires authorities to produce in court an individual they are holding and justify their confinement. Article I of the Constitution says the “privilege of the writ of habeas corpus shall not be suspended, unless when in cases of rebellion or invasion the public safety may require it.”Miller made the comments to reporters at the White House Friday when a…