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Market news: Amazon (AMZN.O) founder Jeff Bezos sold $4.07 billion worth of stock.Conflict Situation 1. Israel – ① The Israeli parliament approved an extension of the emergency mobilization order for the armed forces. 2. Iran – ① Revolutionary Guard: An MQ-9 drone was intercepted and shot down by the Revolutionary Guards Aerospace Forces advanced air defense system over the Strait of Hormuz. ② Military advisor to Irans Supreme Leader: We possess missiles and have the capability for self-defense. Even if the United States sends warships into the Strait of Hormuz through unauthorized routes, we will strike them. US-Iran Negotiations 1. Iran – ① Iranian Foreign Ministry spokesman Bagae: (Regarding negotiations with the US) There are no plans to receive a (US) delegation or send an Iranian delegation "in recent days". 2. United States – ① Trump: The duplicitousness of the Iranian leadership is unbelievable. They requested a meeting, negotiations have begun, and more talks are scheduled for the coming days, proceeding in two phases. ③ US officials: There are currently no plans to hold new Iran negotiations. 3. Others – ① Sources: US and Iranian negotiators have no plans to meet in Islamabad for at least the next 24 hours. The date and location for the resumption of direct negotiations have not yet been finalized. ② Swiss Foreign Ministry: Switzerland is in contact with all relevant countries and is prepared to provide necessary assistance if both sides are willing. ③ Report: There is cautious optimism regarding the prospects for a breakthrough in the US-Iran negotiations; the mediators need some time to reach an agreement on the upcoming ceasefire declaration. ④ Sources: The Pakistani Interior Minister plans to visit Iran in the next day or two. Strait of Hormuz 1. United States—① US military: Continues maritime blockade of Iran, has changed the routes of 44 merchant ships. ② Trump: The conflict with Iran is progressing very well; the Strait of Hormuz is controlled by the US Navy. Nothing can enter Iran without US approval; Iran will not be allowed to collect passage fees in the Strait of Hormuz; the Strait of Hormuz may reopen no later than tomorrow. 2. Iran—① Iranian Foreign Ministry: Currently not in dialogue with the US; dialogue with Oman is focused on the Straits agreement. ② Iran: Has discussed opening new shipping routes in the Strait of Hormuz with Oman. ③ Senior Iranian official: Will not allow the US to open non-Iranian shipping routes in the Strait of Hormuz. ④ Iranian sources: Tehran rejected the latest US proposal, insisting that the Strait of Hormuz will not be fully reopened before the end of the war. Other developments: 1. Irans Economy Minister: An economic resilience plan of at least two years has been formulated. 2. Tanker activity surges at Saudi Yanbu port, Red Sea oil routes regain activity. 3. Gaza Peace Committee: Israeli forces will withdraw beyond the "Yellow Line" after Hamas completes its disarmament. 4. Israel states it will not withdraw from its existing positions in the Gaza Strip and will continue to thwart any threats to its citizens and soldiers. 5. Former Iranian Foreign Minister Javad Zarif warned that if Iran fails to reach a final agreement with the United States within the proposed 60-day negotiation period, it may face further economic difficulties, domestic unrest, or a new round of military strikes.Market news: Japanese IT services provider NTT Data is considering investing approximately $9 billion in Japans data center sector.August 4th - According to Nikkei, the Japanese governments proposal to reduce the food consumption tax to 1% starting next April for a period of two years was approved by the ruling partys main committee on Monday, taking a step closer to fulfilling its campaign promise, although the source of funding remains uncertain. Itsunori Onodera, chairman of the Tax System Committee, stated that the Liberal Democratic Partys Tax System and Social Security Committee has passed the draft. It is expected to be submitted to the partys highest decision-making body for deliberation as early as Wednesday. Prime Minister Sanae Takaichis government hopes to obtain cabinet approval at the beginning of the month and submit the relevant bill to the extraordinary session of the Diet in the autumn. The proposal aims to lower the tax rate from 8% to 1% starting in April. Starting in June, approximately 600 billion yen (about US$3.82 billion) in cash subsidies will be distributed annually to low- and middle-income families, with the amount fluctuating according to income levels. Takaichi has not yet specified the specific source of funding to fill the consumption tax revenue gap. The government plans to utilize non-tax revenue, tax revenue growth, and funds saved from reviewing tax incentives and subsidy policies.According to Nikkei: Japans ruling party is close to lowering the food tax rate from 8% to 1%.

Australia's highest court decides Google is not liable for defamation

Charlie Brooks

Aug 18, 2022 10:51

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The highest court in Australia reversed a judgment that found Google guilty of defamation for providing a link to a contested newspaper article on Wednesday, focussing attention on how internet libel cases are handled in the country.


The seven-judge panel of the High Court of Australia ruled 5 to 2 to reverse an earlier ruling that the Alphabet (NASDAQ:GOOGL) Inc subsidiary was involved in the publication of the contentious article by acting as a "library" holding it, stating that the website had no active role.


In Australia, the question of who is responsible for internet-based libel has simmered for years. This decision increases the difficulty. An evaluation of the country's libel law that has lasted years has not yet produced a conclusive answer as to whether Google and Facebook (NASDAQ:META) should be held accountable.


According to the published judgment, the issue stems from a 2004 article alleging that a criminal defense attorney exceeded professional bounds by becoming a "confidant" of criminals. According to the judgment, attorney George Defteros uncovered a connection to the article via a Google search of his name in 2016 and had Google remove it after 150 people viewed it.


A state court determined that Google is a publisher and ordered the company to pay Defteros A$40,000 (US$28,056). Google appealed the conviction, culminating in the verdict issued on Wednesday.


"The Underworld article was not authored by any of the appellant's employees or agents," two panel judges noted in a ruling issued on Wednesday.


"It was written by a journalist unaffiliated with the appellant and published by a newspaper over which the appellant had no influence or control."


Google "does not own or control the internet," they said.


A Google representative was unavailable for immediate comment.


Despite the fact that Google was not found accountable, Defteros felt vindicated because the court agreed that the article was defamatory.


The decision was rendered after the High Court determined last year that a newspaper publisher was liable for defamatory comments posted on Facebook beneath an article it had posted.


The media companies "invited and promoted" comments last year, however Google "did not create a space or area where it could be sent nor did it encourage the drafting of response comments," the judges decided.