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Real-time News
Brussels is exploring legal options to allow European companies to breach long-term gas contracts with Russia without paying Moscow huge fines, three officials familiar with the plan said. The European Commission has been studying these contracts and the possibility of declaring force majeure. If force majeure is declared, importers can refrain from fulfilling their obligations without paying extra costs. "If the whole idea is not to pay Russia, then paying compensation would defeat the whole purpose," said an EU official. The move highlights the EUs efforts to break away from its dependence on Russian energy and deprive the Kremlin of revenue for the Russia-Ukraine conflict. Russian gas currently accounts for only 11% of the EUs pipeline gas supply, while this proportion will be close to two-fifths in 2022, but the amount of Russian liquefied natural gas (LNG) has increased rapidly in the past three years.On April 15, Zuckerberg, CEO of Meta Platforms (META.O), testified in a trial in Washington on Monday, where the Federal Trade Commission (FTC) claimed that the company spent billions of dollars to acquire Instagram and WhatsApp to stifle potential competitors to Facebook. The FTC is seeking to force Meta to reorganize or sell Instagram and WhatsApp. This is both a test of Trumps promise to crack down on large technology companies and an existential threat to the company, which is estimated to get about half of its U.S. advertising revenue from Instagram. Zuckerberg calmly answered questions while trying to refute allegations that Meta acquired these companies a decade ago to eliminate competition. The trial may last until July. Advertising research firm Emarketer previously predicted that Instagrams revenue this year will reach $37.13 billion, slightly more than half of Metas U.S. advertising revenue.News on April 15th, recently, the Ministry of Ecology and Environment and the State Administration for Market Regulation jointly issued the "Opinions on the Criteria for Determining the Seriousness of Motor Vehicle Emission Inspection Institutions Falsifying Emission Inspection Results or Issuing False Emission Inspection Reports", which detailed and clarified the punishment basis for fraud in the field of motor vehicle emission inspections, and increased the deterrence against illegal acts. In the next step, the market supervision department will continue to focus on prominent issues such as fraud in motor vehicle inspections, and jointly with relevant departments to increase supervision and inspection and special rectification efforts, resolutely curb the chaos of motor vehicle inspection fraud, and strive to create a healthy development ecology for the industry. For motor vehicle inspection institutions that are determined to be serious according to the opinions of the two departments, their inspection qualifications will be revoked in accordance with the relevant provisions of the Air Pollution Prevention and Control Law. At the same time, the linkage between administrative law enforcement and credit punishment will be promoted, and the punishment information will be recorded in the credit files of inspection and testing institutions to strengthen joint punishment.On April 15, Science Corp., a technology company focused on the human brain founded by Max Hodak, received more than $100 million in a round of financing led by Khosla Ventures. Khosla operating partner and chief marketing officer Shernaz Daver said: "Our philosophy is to invest in early, bold bets that have an impact on the future." Max Hodak is the co-founder of Musks brain-computer interface company Neuralink. Max Hodak announced his departure from Neuralink in 2021.Zhou Hei Ya (01458.HK) once rose nearly 9% during the session, after announcing an increase in the repurchase fund limit to a maximum of HK$100 million.
