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Alphabet's Google was fined 21.1 billion roubles ($373 million) on Monday by a Moscow court for a repeated failure to remove content Russia deems illegal, such as "fake news" about the conflict in Ukraine, Russia's communications regulator said, Reuters reported. Moscow has long objected to foreign tech platforms' distribution of content that falls afoul of its restrictions. But the simmering dispute has erupted into a full-on battle since Moscow assembled its armed forces before sending them into Ukraine in February.
A creditor list of bankrupt crypto hedge fund Three Arrows Capital puts the interconnected nature of the industry on display, with lenders ranging from some of the biggest digital-asset firms to the wife of co-founder Kyle Davies, Bloomberg reported. At the top is Digital Currency Group Inc., the parent company of crypto brokerage Genesis, which filed a $1.2 billion claim against Three Arrows, according to people familiar with the matter who reviewed a court filing. Chen Kaili Kelly, the wife of Davies, also filed a claim of about $66 million, the filing shows.
The Supreme Court of Newfoundland and Labrador has approved the sale of 42 properties belonging to the Roman Catholic Episcopal Corporation of St. John's, including 12 churches, as dozens more church property sales loom across eastern Newfoundland, CBC reported. The move will reshape the landscape for Catholics in the St. John's area and beyond as the church — which has been held liable for sexual and physical abuse at the Mount Cashel orphanage — raises money to settle victim claims from the 1940s, '50s and '60s.
The Supreme Court has refused to interfere with the judgment of a Division Bench of the High Court of Tripura, where the High Court had held that a decree holder falls under the class of "other creditors" and so cannot be treated as a "financial creditor" under the Insolvency and Bankruptcy Code 2016, Mondaq reported.
SAS and pilots unions reached a wage deal on Monday, ending a strike over a new collective bargaining agreement that has grounded hundreds of flights and thrown the airline's future into doubt, Reuters reported. A majority of SAS pilots in Sweden, Denmark and Norway walked out on July 4, triggering a strike that SAS has said cost it between $94 million and $123 million a day. "What I'm hearing from the negotiation room is that we have a deal," a spokesperson for Dansk Metal, one of the unions representing SAS pilots, told Reuters, adding the agreement was not yet finalised.
Two U.S. congresswomen made a bipartisan call for companies to take action to comply with a newly operative U.S. law intended to block the import of goods made with Uyghur forced labor, the Wall Street Journal reported. The remarks underscored congressional concern over enforcement of a law that presumes that goods with ties to Xinjiang, the home region of China’s Uyghur minority, have been made with forced labor. The law, which went into effect last month, gives U.S. Customs and Border Protection the power to stop their import. Reps.
A commercial court recognized the dissolution of Mexico's Credito Real and ordered its judicial liquidation, the troubled payroll lender said in a filing yesterday, Reuters reported. Credito Real, reeling from a bond default, said in June it was aiming for an orderly restructuring of its debt.