Bussiness Section

  Canada bans TikTok on government devices Beginning on Tuesday, the video app TikTok will be removed from all government-issued devices in Canada. Following a review by Canada's chief information officer, the app "presents an unacceptable level of risk to privacy and security," according to a government spokesperson. A TikTok spokesperson expressed disappointment with the decision. It comes only a few days after the European Commission announced a similar prohibition. Security concerns Prime Minister Justin Trudeau stated that there was enough concern about the app's security to warrant the change. "This may be the first and only step we need to take," he said at a press conference near Toronto on Monday. TikTok has been chastised for its use of personal data and links to the Chinese government. ByteDance Ltd., a Chinese company, owns the short-form video app. TikTok was banned for US federal employees late last year, and the White House gave government age...

Toyota and Honda announce biggest pay rises in decades Toyota and Honda, two Japanese automakers, have agreed to give their employees in the country the largest pay raises in decades. They are the most recent companies in the world's third largest economy to raise wages as prices rise. Japan's inflation rate was at its highest in over 40 years, according to official figures released last month. This has put pressure on businesses and governments to assist people as their purchasing power has shrunk. Every year, Japanese companies hold weeks of pay negotiations with unions before announcing their decisions around the middle of March. The automobile manufacturers have not stated why this year's announcements were made earlier than usual. Toyota announced on Wednesday that it will meet union demands for pay and bonuses, with wages increasing by the most in 20 years. Toyota's incoming president, Koji Sato, expressed hope that the move would have a positive impact on the Jap...

 Starbucks launches olive oil coffee in Italy. Starbucks, the world's largest coffee chain, has announced the launch of a line of olive oil-infused drinks in Italy. According to CEO Howard Schultz, the "unexpected, velvety, buttery flavour... enhanced the coffee and lingers beautifully on the palate." Starbucks is one of the major US corporations that has encountered difficulties in expanding into the Italian food and beverage market. The coffee scene in Italy is known for its independent, often family-run cafes. Starbucks currently operates around 20 locations in the country. "There will be those who say, olive oil in coffee? But the proof is in the cup," Mr Schultz wrote on the company's website. "I can't remember a time in my life when I've been more excited, more enthused," he added. This spring, the company intends to bring the selection of hot and iced drinks to stores in Southern California, USA. The United Kingdom, the Middle Ea...

 Twitter will charge users for text-message authentication Non-subscribers will no longer be able to use text-message two-factor authentication (2FA). 2FA adds an extra layer of security to online accounts beyond passwords by double-checking the identity of the person logging in. Texting a code to users or using an authenticator app are two common methods. However, the Twitter Support account tweeted on Saturday that only Twitter Blue subscribers would be able to use text-message authentication beginning March 20. Some text messaging Users of 2FA also received an in-app notification to remove the method before the deadline to avoid losing access to their accounts. Elon Musk, the owner and CEO of Twitter, tweeted that its authenticator app, which would remain free, was more secure. Twitter was "scammed" by phone companies and was paying more than $60 million (£49 million) per year for "fake 2FA SMS messages," he told a critic of the move. Twitter announced on its blo...

  Instagram and Facebook will soon offer paid verification. Instagram and Facebook users can now pay for blue tick verification, according to parent company Meta. Meta Verified will cost $11.99 (£9.96) per month on the web, or $14.99 on the iPhone. This week, it will be available in Australia and New Zealand. Meta CEO Mark Zuckerberg stated that the move will improve security and authenticity on social media apps. Elon Musk, Twitter's owner, implemented the premium Twitter Blue subscription in November 2022. Although Meta's paid subscription service is not yet available for businesses, anyone can pay for verification. Badges, also known as "blue ticks," have been used as authentication tools for high-profile accounts. According to Meta, the subscription would provide paying users with a blue badge, increased visibility of their posts, protection from impersonators, and easier access to customer service. According to the BBC , the change will not affect previously ver...

 Amazon calls staff back to office three days a week. Amazon will require all office employees to work in-person at least three days per week, ending a policy that allowed team directors to make remote work decisions. Andy Jassy, the company's CEO, informed employees of the change on Friday, stating that it would take effect on May 1. This year, the company joins others such as Disney and Starbucks in tightening remote work policies. Mr. Jassy stated that the change would improve communication, career development, and corporate culture. "When we're in person, it's easier and more effective to collaborate and invent," he wrote in a memo shared by the firm. During the pandemic lockdowns in 2020 , remote work increased dramatically. It is still far more common than it was before the pandemic, but surveys indicate that the practise is gradually fading. According to a monthly online survey of working arrangements and attitudes conducted by Stanford economist Nicholas ...

  Do Kwon: US regulator accuses cryptocrash CEO of fraud US financial regulators have charged failed South Korean cryptocurrency boss Do Kwon and his company Terraform Labs with "orchestrating a multi-billion dollar crypto asset securities fraud". The Singapore-based company was responsible for the Terra Luna and TerraUSD tokens, which crashed spectacularly last year. It is estimated that the collapse cost investors more than $40 billion (£33.5 billion). Mr. Kwon and Terraform Labs did not respond immediately to a request for comment from the BBC. "We allege that Terraform and Do Kwon failed to provide the public with full, fair, and truthful disclosure as required for a variety of crypto asset securities, most notably LUNA and Terra USD," said US Securities and Exchange Commission (SEC) chairman Gary Gensler in a statement. " We also allege that they committed fraud by making false and misleading statements repeatedly in order to gain trust before causing deva...

  ASML claims a Chinese employee stole data in the US-China chip war. ASML, a major computer chip equipment manufacturer, claims that a former employee in China stole proprietary information about its technology. The Dutch firm claims to have reported the breach to authorities in the Netherlands and the United States. The company did, however, add that it does not "believe that the misappropriation is material to our business." ASML is a significant player in the global microchip supply chain. It creates machines that produce the most advanced chips in the world. Chips, or semiconductors, are at the heart of a bitter dispute between the United States and China and are used to power everything from mobile phones to military hardware. "We have experienced unauthorised misappropriation of proprietary technology data by a (now) former employee in China," ASML reported in its most recent annual report. "Certain export control regulations may have been violated as a ...

 Elon Musk donates nearly $2bn of Tesla stocks to charity. Elon Musk, CEO of Tesla, claims to have donated approximately $1.95 billion (£1.6 billion) in Tesla stock to charity last year. The donation of 11.6 million shares was described as a "bona fide gift" in a filing with US regulators. The donation's recipient or recipients were not named in the filing. Also on Wednesday, Mr. Musk stated that the end of the year would be a "good time" to find someone to succeed him as CEO of Twitter. The donation was made between August and December of last year, according to the document filed with the US Securities and Exchange Commission. Tesla did not immediately respond to a request for comment from the BBC. This is not Mr Musk's first time donating Tesla stock to charity. According to a regulatory filing, he donated approximately $5.74 billion in shares in 2021. He also said on Twitter that year, that he planned to donate $20m to schools in Cameron County and $10m ...

  Six tips for getting a job if you're in your 50's Britain requires you. That was Chancellor Jeremy Hunt's message last month when he urged people who had retired early to return to work to help the economy. Mr Hunt promised that the government would make it worthwhile for anyone looking to return to work. While we await the details of the measures, the BBC has asked recruiters and charities for advice for anyone looking to return to work. 1. Concentrate on ability rather than age. Unfortunately, ageism remains a problem, according to James Reed, CEO of recruitment firm Reed. "Despite age discrimination legislation, older job seekers may still face bias," he admits. He advises shifting the emphasis away from your age and towards your ability wherever possible. "While you should never lie about your age, there is no reason to exaggerate it," he says. "Think about streamlining your CV and removing older experience that is more than ten years old, or ...