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Elon Musk: Judge blocks ‘unfathomable’ $56bn Tesla pay deal

A judge in the US state of Delaware has annulled a $55.8bn (£44bn) pay deal awarded to Elon Musk in 2018 by the electric car company Tesla. The lawsuit was filed by a shareholder who argued that it was an overpayment. Judge Kathaleen McCormick ruled that the Tesla board’s approval of the pay package was “deeply flawed.” In a post ...

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Universal Music to pull songs from TikTok

Universal Music is set to pull its millions of songs from TikTok after a breakdown in talks over payments. The move would mean the social media platform would no longer have access to songs by artists including Taylor Swift, The Weeknd and Drake. Universal accused TikTok of “bullying” and said it wanted to pay a “fraction” of the rate other ...

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Murikata onion price goes over Tk 100 per kg in just 2 days

The price of Murikata, an early variety of onion, jumped by Tk 20 per kg to Tk 105 per kg on Tuesday, compared to Tk 80 to 85 per kg two days ago in Dhaka. Though the wholesaler said that onion prices have dropped slightly in the wholesale market, the effect is yet to be visible in the retail market, ...

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Bangladesh, Sweden discuss cooperation and investment

Bangladesh and Sweden on Tuesday discussed expansion of cooperation in the areas of green energy, generating energy from waste and Swedish investment in ICT sectors. The issues came up when Swedish Ambassador to Bangladesh Alexandra Berg von Linde called on Foreign minister Dr Hasan Mahmud at his office at the ministry in Dhaka, a press release said, reports BSS. About ...

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Toyota sets new global record for annual vehicle sales

Toyota and its subsidiaries sold 11.2 million vehicles in 2023, a new global record for annual sales, the Japanese automaker said Tuesday. The figure cements the company’s position as the world’s top-selling automaker for the fourth year running, beating Volkswagen, which sold 9.2 million vehicles last year, AFP reports.

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NBR seeks budget proposals for fiscal 2024-25

The National Board of Revenue (NBR) has initiated the budget preparation process for the fiscal year 2024-25 (FY25) as it has sought budget proposals from different trade bodies, and other relevant stakeholders including professional organizations, research firms, intellectuals and taxpayers from all strata. The NBR has asked all the chambers and trade associations to send their budget proposals before the ...

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Post Office chairman Henry Staunton steps down

The Post Office chairman has stepped down amid ongoing tensions around the Horizon IT scandal that saw hundreds of sub-postmasters wrongly convicted. The organisation said Henry Staunton had been asked to leave the post by Business Secretary Kemi Badenoch. She said the company was “rightfully” under heightened scrutiny as the public outcry over the scandal continues. “I felt there was ...

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UAE entrepreneurs interested to invest in Bangladesh

Businesses and entrepreneurs of the United Arab Emirates (UAE) are interested to invest in Bangladesh and thus hiring skilled manpower from the country. Mahbubul Alam, the president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), assured all kinds of support to the investors of UAE in this regard. Mahbubul Alam, president of the FBCCI, and Mohammad Ali ...

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Half a million UK expats to miss out on pension increase this year

  Hundreds of thousands of UK expat pensioners are set to miss out on a key financial boost this year, warns the CEO and founder of one of the world’s largest independent financial advisory, asset management and fintech organisations. The warning from Nigel Green of deVere Group, which has more than 80,000 expat clients globally, comes as UK state pension ...

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Chinese yuan included in RTGS system

Bangladesh Bank (BB) has included the Chinese Yuan in the Real-Time Gross Settlement (RTGS) system. The Chinese currency will come into trade settlement on RTGS from February 4, as per a BB circular issued on Thursday. In September 2022, BB started automated clearing operations in five foreign currencies (US Dollar, Pound Sterling, Euro, Japanese Yen and Canadian Dollar). Following this, ...

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