Business

Uber co-founder Travis Kalanick announced his resignation from the company's board of directors, effective December 31. After 10 years with Uber, Kalanick plans to concentrate on his new business endeavors and philanthropic pursuits, having already sold most of his shares in the ride-hailing giant.

Major global stock markets showed minimal movement on Christmas Eve, with Japan's Nikkei slipping 0.2%, U.S. markets closing mixed, and European indices like FTSE 100 showing slight gains amid light trading volumes.

Chinese printing company Zhejiang Yunguang Printing rejects allegations of using prison labor, claiming cards are produced solely by their employees who follow labor laws, after Tesco suspended production following customer's claim

Tesco stopped manufacturing Christmas cards at a Shanghai factory after a six-year-old girl discovered a hidden message allegedly written by foreign prisoners forced to work against their will, raising serious human rights concerns.

The Securities and Exchange Commission revoked Robocash Finance Corporation's license for operating unauthorized branches in the Philippines. A Russian financing company that expanded in Southeast Asia, Robocash admitted to running branches without legal certifications, though they claimed no malicious intent.

In a significant security breach, the Bank of England's press conference audio was hacked minutes before scheduled broadcast. High-speed traders potentially gained competitive insights about pound and gilt values through unauthorized access to Governor Mark Carney's communication channel, highlighting vulnerabilities in financial communication systems.

The Dubai Media Office has shut down a social media campaign alleging inferior quality of UAE products. They emphasized that Jafza products meet standards set by the Emirates Authority for Standardisation and Metrology (Esma), refuting claims designed to harm commercial relations between the UAE and Saudi Arabia.

Elkhart-based Interlogic Outsourcing, Inc. is under federal investigation for allegedly siphoning $90 million in tax withholdings from client businesses. Owner Najeeb Khan faces potential indictment for stealing tax payments intended for the Internal Revenue Service.

HSBC bank was summoned by China's UK ambassador after providing documents in US prosecution case against Huawei's CFO Meng Wanzhou, who is fighting extradition charges related to alleged Iranian sanctions violations.

Alecta's CEO Magnus Billing urges the Swedish Corporate Governance Board to adopt reforms similar to the UK's Financial Reporting Council, emphasizing the need for clear goals and strategies that create long-term sustainable value and restore organizational confidence.