The U.S. Justice Department won’t pursue allegations that ByteDance Ltd.’s TikTok misled U.S. consumers about their data security in a forthcoming suit accusing the company of children’s privacy violations, according to people familiar with the decision.

The department is preparing to file a consumer protection lawsuit against TikTok later this year on behalf of the U.S. Federal Trade Commission (FTC), which investigated the case, according to the people, who asked not to be identified discussing interagency communications.

The FTC gave the Justice Department a referral with two parts. The Justice Department plans to drop one part of the complaint alleging that TikTok deceived U.S. consumers by failing to inform them that Beijing-based employees of its parent company, …

The government will continue to sell surplus grain stock in the open market to control rise in cereal inflation, a senior food ministry official on Wednesday said, adding that it has more than double grain stock to carry out market intervention programme.

“Through open market sale scheme (OMSS)of wheat and rice, we are aiming at controlling cereal inflation to the maximum possible extent,” Ashok Meena, chairman and managing director, Food Corporation of India (FCI) said in a briefing.

On January 1, FCI had rice and wheat stocks of 34.49 million tonne (MT) while 33.27 MT of rice is yet to be receivable from millers. Total foodgrains stock is against the buffer of 21.04 MT.

Market rally leads to higher regulatory fees for stock exchanges Is the world prep…

Sanofi India shares surged nearly 4% to an intra-day high of Rs 7,999 after the company tied up Cipla to distribute its central nervous system (CNS) medication in India. Sanofi joined hands with Cipla to use its extensive distribution network in the country. However, Sanofi will be retaining ownership, import, and manufacturing of the CNS portfolio. 

“As a part of this partnership, Cipla will be responsible for the distribution of Sanofi India’s six CNS brands including Frisium, a leading brand in the anti-epileptic medication category,” Sanofi said in an exchange filing. 

“Enhancing access to high-quality treatments is central to our purpose of ‘Caring for Life’Come from …

By Nuvama Research

In Q2FY24, Tata Power (TPWR) recorded a consolidated PAT of Rs 8.75 billion (after minority interests), reflecting a 7% y-o-y increase. The decline in coal profits was mitigated by positive developments such as (i) CGPL turning PAT positive (operating under Sec-11), (ii) higher PAT in solar EPC/Odisha discom, and (iii) reduced losses in Tata Projects.

While we acknowledge Tata Power’s commendable progress in the renewable energy transition, with green earnings expected to surpass coal/thermal by FY27–28, the company faces near-term growth limitations. Our assessment suggests limited upside potential, even in our Bull case scenario, which factors in (i) CGPL’s Sec-11 benefit persisting indefinitely, (ii) $130/T of…

Take-Two Interactive has won a case regarding its depiction of LeBron James’ tattoos in NBA 2K. While James himself was not involved in the case, his tattoo artist, Jimmy Hayden, was.

Hayden sued Take-Two by alleging that the use of James’ tattoos in NBA 2K violated his rights as he was not compensated despite being the one who inked them onto the basketball star. However, an Ohio federal jury rejected those allegations. Since Take-Two had an agreement to use James’ likeness in the game, the studio also had an implied license to also depict those tattoos onto his character.

As a result, the jury determined that Hayden’s rights were not violated. Take-Two’s attorney, Dale Cendali of law firm Kirkland & Ellis, praised the decision. She told Reuters that it was an important…

In the American city of Chicago and politicians are reportedly considering new legislation that would legalize sportsbetting and subsequently give five area professional sports facilities permission to host land-based sportsbooks.

According to a report from the Chicago Sun-Times newspaper, the measure was introduced by Alderman Walter Burnett (pictured) yesterday and seeks to revoke a long-running prohibition on sportsbetting for residents of ‘The Windy City’ and allow its local Wrigley Field, Soldier Field, Guaranteed Rate Field, Wintrust Arena and United Center stadiums to debut sports wagering facilities.

Prevailing prohibition:

The newspaper reported that online and land-based sportsbetting was legalized across Illinois two years ago as part of a measure suppor…