Category: News

NEW YORK — Reddit soared in its Wall Street debut as investors pushed the valued of the company close to $9 billion seconds after it began trading on the New York Stock Exchange. Reddit, which priced its IPO at $34 a share, debuted Thursday afternoon at $47 a share. The going price has climbed even higher since, with shares for the self-anointed "front page of the internet" soaring more than 55% as of around 1:20 p.m. ET. The IPO will test the quirky company's ability to overcome a nearly 20-year history colored by uninterrupted losses, management turmoil and occasional user backlashes to build a sustainable business. "The supply is pretty limited and there's strong demand, so my sense is that this is going to be a hot IPO," Reena Aggarwal, director…

Washington — The U.S. Department of Justice on Thursday sued Apple, the first major antitrust effort against the iPhone maker by the Biden administration, alleging it monopolized smartphone markets.   Apple joins a list of major tech companies sued by U.S. regulators, including Alphabet's  Google, Meta Platforms and Amazon.com across the administrations of both former President Donald Trump and President Joe Biden. "Consumers should not have to pay higher prices because companies violate the antitrust laws," Attorney General Merrick Garland said in a statement. "If left unchallenged, Apple will only continue to strengthen its smartphone monopoly." The Justice Department alleges that Apple uses its market power to get more money from consumers, developers, content creators, artists, publishers, small businesses and merchants. The civil lawsuit accuses Apple of an illegal monopoly on…

New York — President Joe Biden's administration announced Wednesday revised pollution standards for cars and trucks meant to accelerate the U.S. auto industry's shift to electric to mitigate climate change. The rules set ambitious emission reductions for 2032 but are moderated somewhat compared with preliminary standards unveiled last April. Following carmaker criticism, the final rules give manufacturers greater flexibility and ease the benchmarks in the first three years. Those shifts were criticized as a sop to corporations from at least one environmental group, even as the final rule won praise from other leading NGOs focused on climate change. The final rules — which were described by administration official as "the strongest ever" and would likely be undone if Republican Donald Trump defeats Biden in November — still require a nearly 50%…

Washington — The initial backlash came quickly. Within hours of last week’s vote in the House of Representatives approving legislation that could lead to a ban of the popular TikTok app in the United States, anger and outrage poured onto multiple social media platforms. Some of the anger targeted U.S. lawmakers who supported the bill. Some focused on China. And a number of social media accounts, some with large followings, put the blame on Israel and pro-Jewish groups in the United States. “A foreign government is influencing the 2024 election,” Briahna Joy Gray posted on X. “I'm not talking about China, but Israel,” added the former national press secretary for Senator Bernie Sanders’ 2020 presidential campaign.   Jake Shields, a former mixed martial arts fighter who has used social media in…

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Washington — The Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon.  President Joe Biden plans to talk up the investment on Wednesday as he visits Intel's campus in Chandler, Arizona, which could be a decisive swing state in November’s election. He has often said that not enough voters know about his economic policies and suggested that more would support him if they did know.  Commerce Secretary Gina Raimondo said the deal reached through her department would put the United States in a position to produce 20% of the world's most advanced chips by 2030, up from the current level of zero. The United States designs advanced…

washington — The U.S. House of Representatives passed a bill March 13 that, if enacted into law, would give ByteDance, the Chinese owner of the TikTok social media app, 180 days to divest its U.S. assets or face a ban over concerns about national security, including Beijing's ability to access Americans' private information through the company ByteDance denies it would provide such private data to the Chinese government, despite reports indicating such information could be at risk. VOA sat down on the day the bill passed with Republican Representative Mario Diaz-Balart of Florida, chairman of the House Appropriations subcommittee on state, foreign operations and related programs, and co-chair of the Congressional Taiwan Caucus, to hear why he supported the bill and why he's calling for faster military support for Taiwan, the self-ruled…

Washington — The US Supreme Court was hearing arguments on Monday in a social media case involving free speech rights and government efforts to curb misinformation online. The case stems from a lawsuit brought by the Republican attorneys general of Louisiana and Missouri, who allege that government officials went too far in their efforts to get platforms to combat vaccine and election misinformation. A lower court last year restricted some top officials and agencies of President Joe Biden's administration from meeting and communicating with social media companies to moderate their content. The ruling was a win for conservative advocates who allege that the government pressured or colluded with platforms such as Facebook and Twitter to censor right-leaning content under the guise of fighting misinformation. The order applied to a slew of…

After the Apollo program ended, the US took a long hiatus from lunar exploration. What happened during this time, and what has NASA been doing? This documentary by the Voice of America's Russian service explores the multiple attempts to return to the Moon, the space developments that laid the foundation for future concepts, and the birth of the Artemis lunar program. ...

Washington — The U.S. Treasury Department unveiled sanctions against a network of companies and individuals for facilitating illegal technology transfers from dozens of U.S. firms to Iranian entities, including the country's central bank.  The sanctions relate to Informatics Services Corporation (ISC), the technology arm of the Central Bank of Iran (CBI), the Treasury Department said in a statement Friday.   It also sanctioned a number of alleged ISC subsidiaries and front companies based in Turkey and the United Arab Emirates, and three individuals allegedly linked to them including Pouria Mirdamadi, a French-Iranian dual national.  Brian Nelson, the U.S. Treasury undersecretary for terrorism and financial intelligence, said the CBI "has played a critical role" in providing financial support to Lebanon's Hezbollah and the foreign arm of Iran's Islamic Revolutionary Guard Corps, known as…

The White House is urging senators to quickly begin considering a bill that would address national security concerns related to the social media app TikTok. The House approved the measure earlier this week. VOA Congressional Correspondent Katherine Gypson reports. Camera: Saqib Ul Islam. ...