Author: Press Room

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British cyber security group Darktrace said on Wednesday that it would buy back up to £75mn worth of shares, after coming under attack from a short seller that accused it of accounting irregularities. The London-listed company said plans to acquire up to 35mn shares was an attempt to boost its stock, which has tumbled more than a fifth since the start of the month.The company’s announcement comes a day after New York-based hedge fund Quintessential Capital Management published a detailed report outlining claims about potential irregularities in contracts with resellers and customers, predominantly dating from before Darktrace’s public listing in…

The Federal Reserve unanimously approved a quarter-point interest rate hike Wednesday, slowing the pace of its increases in a clear sign that the central bank is seeing progress in its fierce battle with inflation. The decision, at the conclusion of the Federal Open Market Committee’s first meeting of 2023, comes after months of jumbo-sized rate increases intended to cool the economy, and marks the return to a more traditional interest-rate policy. Since the last Fed meeting in December, two economic trends have indicated that the central bank’s mission to cool the economy and stall price increases is working: Recent data…

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CNN  —  The CDC is urging people to stop using a certain brand of eyedrops while it investigates at least 50 infections across 11 states. A formal recall hasn’t been issued, but officials are looking into how the artificial tears led to instances of permanent vision loss, hospitalizations and one death. Here’s what else you need to know to Get Up to Speed and On with Your Day. (You can get “5 Things You Need to Know Today” delivered to your inbox daily. Sign up here.) A critical White House meeting is set for today between President Joe Biden and…

Norwegian airline Flyr is filing for bankruptcy.The loss-making airline made the announcement on Tuesday, saying it had failed to raise the cash it needed for its operations.”All departures and ticket sales have as a consequence been cancelled,” the company said in a statement.More than 400 employees will lose their jobs as a result of the bankruptcy, Flyr founder and board Chair Erik Braathen told Norwegian daily Dagbladet.What happened to Flyr?Flyr launched operations in mid-2021 to serve domestic destinations in Norway as well as in Europe. On 4 October, the company said it would make heavy spending cuts, including furloughs, to preserve cash during the…

SEOUL: A South Korean court on Wednesday (Feb 1) rejected a Buddhist temple’s claim to a statue that it said Japanese pirates looted in the 14th century, clearing the way for Japan to press for its return. The 20-inch gilt bronze statue of a Buddhist Bodhisattva was stolen from a Japanese temple in 2012 by South Korean thieves, who were caught trying to sell it after returning home. The Buseoksa Temple in South Korea filed a legal case in 2016 claiming ownership of the statue, which has been in the custody of the government, saying Japanese pirates had plundered it…

PHNOM PENH: The last surviving Khmer Rouge leader has been transferred to a Cambodian state prison to serve two life sentences after losing his appeal against a genocide conviction, prosecutors said Wednesday (Feb 1). In its final verdict last year, the kingdom’s UN-backed court upheld the 2018 genocide conviction and life sentence imposed on Khieu Samphan. The 91-year-old was head of state for the murderous communist regime that wiped out a quarter of the Cambodian population in less than four years in the 1970s. Khieu Samphan and “Brother Number Two” Nuon Chea, who died in 2019, were also given life…

CNN  —  Congressional Democrats are betting that a coordinated offense is their best defense against the coming Republican investigative onslaught. Democrats on Capitol Hill, at the White House, in agencies and in outside political groups are gearing up to do battle with the Republican committee chairs probing all corners of the Biden administration as well as the Biden family’s financial dealings. The significant effort at the outset is a sign of the danger the GOP investigations and their subpoena power pose to Biden’s political prospects heading into his reelection. The stakes of knocking down the GOP probes have only grown…

Inflation in the euro zone receded for the third month in a row in January, according to preliminary data from Eurostat released on Wednesday.Inflation in the twenty countries using the single currency is projected to have slipped to 8.5% year-on-year in January from 9.2 % in December. The first decline was seen in November although it was still above the 10% threshold after reaching a record-high the month before. Energy continued to be the biggest driver of inflation last month with a year-on-year bump of 17.2% but prices have significantly lowered in recent months. This is attributed to milder-than-user temperatures in the…