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  • French court finds three ex-Ubisoft execs guilty of harassment charges

    French court finds three ex-Ubisoft execs guilty of harassment charges

    A French court has found three former Ubisoft executives, Tommy François, Serge Hascoët, and Guillaume Patrux, guilty of “moral and sexual harassment and attempted sexual assault” following a recent hearing. This verdict concludes a key part of what became known as the ‘Ubisoft Scandal,’ which began in 2020. The scandal initially revealed a party-like atmosphere at Ubisoft that allegedly involved harassment and potential assault. Five years after the initial revelations, these three executives, who had resigned from the company, have now received their sentences. The sexual harassment trial began which began last month, focuses on determining the accountability of the executives identified as central to the misconduct.

    What the French court said about the three ex-Ubiosft execs

    According to a report by French publication Liberation, the court said: “Tommy François, Serge Hascoët and Guillaume Patrux were found guilty of moral and sexual harassment and attempted sexual assault by the Bobigny criminal court.”The report mentions that the court “handed down suspended sentences of up to three years in prison against three of the video game giant’s former executives.”A suspended sentence means the executives will not serve prison time unless they commit further offences, which could then activate the court’s authority to enforce incarceration.“The most heavily sentenced is the former vice-president of the editorial department, Tommy François. He received a three-year suspended prison sentence and a fine of 30,000 euros, the sentence requested by the prosecutor for the charges of moral and sexual harassment and attempted sexual assault,” the report added.Serge Hascoët received a suspended sentence of eighteen months and a 45,000-euro fine.Meanwhile, former game director Guillaume Patrux “was sentenced to twelve months in prison with a suspended sentence and a fine of 10,000 euros for his violent and intimidating behavior towards the small team where he worked.”The court findings describe the behaviour of the three as including “sexist jokes, humiliations, and uncomfortable or vulgar behaviour towards certain employees.”These claims align with earlier reports suggesting the company’s headquarters had a “Boys’ club atmosphere.”


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  • PM lauds KSA’s role in truce with India

    PM lauds KSA’s role in truce with India


    ISLAMABAD:

    Prime Minister Shehbaz Sharif on Wednesday appreciated the efforts by Saudi Arabia for peace in the Middle East as well as its significant role in the ceasefire understanding between Pakistan and India.

    The prime minister said this in a meeting with Ambassador of Saudi Arabia in Islamabad Nawaf bin Saeed Al Malkiy, while fondly recalling his warm and cordial telephone conversation with the Saudi Crown Prince on June 24 to discuss the regional situation.

    He conveyed his respectful regards to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Saudi Crown Prince and Prime Minister Prince Mohamed bin Salman bin Abdulaziz Al Saud.

    The prime minister told the ambassador that as Pakistan had assumed the rotating Presidency of the UN Security Council for the month of July, it would count on Saudi Arabia’s support to ensure that its tenure was conducted smoothly and successfully.

    The Saudi ambassador thanked the prime minister for Pakistan’s role in peace and stability in the region.

    FBR

    Prime Minister Shehbaz Sharif on Wednesday applauded the Ministry of Finance and the Federal Board of Revenue (FBR) for achieving a historic 42% increase in federal tax revenues during the fiscal year 2024-25 – the highest surge in the past decade.

    The prime minister chaired a high-level weekly review meeting on the digitization and reform agenda of the FBR, whereas during the briefing, it was revealed that reforms and enforcement of new tax laws enabled the government to collect an additional Rs 865 billion in revenues compared to the previous year, an eightfold increase.

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  • Microsoft to cut up to 9,000 jobs as it invests in AI

    Microsoft to cut up to 9,000 jobs as it invests in AI

    Microsoft has confirmed that it will lay-off as many as 9,000 workers, in the tech giant’s latest wave of job cuts this year.

    The company said several divisions would be affected without specifying which ones but reports suggest that its Xbox video gaming unit will be hit.

    Microsoft has set out plans to invest heavily in artificial intelligence (AI), and is spending $80bn (£68.6bn) in huge datacenters to train AI models

    A spokesperson for the firm told the BBC: “We continue to implement organisational changes necessary to best position the company for success in a dynamic marketplace.”

    The cuts would equate to 4% of Microsoft’s 228,000 global workforce.

    It has initiated three other rounds of redundancies so far in 2025, including in May when it said it would axe 6,000 roles.

    A database maintained by the Washington state shows more than 800 of the positions eliminated will be concentrated in Redmond as well as in Bellevue, another hub that Microsoft maintains in its home state.

    In recent years, along with its counterparts in Big Tech, Microsoft has pivoted its attention towards the develop of AI, including investing in datacentres and chips.

    Last year, the firm hired British AI pioneer Mustafa Suleyman to lead its new Microsoft AI division.

    A top Microsoft executive recently told the BBC that the next half century will “fundamentally be defined by artificial intelligence,” changing the way we work and interact with one another.

    Microsoft is also a major investor and shareholder in OpenAI, the company behind the popular chatbot ChatGPT, although the relationship has reportedly grown tense in recent months.

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  • PAC blows whistle on Rs40b Kohistan scam

    PAC blows whistle on Rs40b Kohistan scam


    ISLAMABAD:

    The Public Accounts Committee (PAC) on Wednesday held a detailed discussion on the alleged Rs40 billion scam in Kohistan, expressing serious concerns over financial irregularities and a lack of departmental cooperation.

    Chairing a meeting after a month-long break, PAC Chairman Junaid Akbar said that when the committee raises audit objections, the department concerned fails to cooperate effectively.

    In May, the Khyber-Pakhtunkhwa government launched an investigation into the mega corruption scandal in Kohistan district, where an estimated Rs40 billion had allegedly been siphoned off from the provincial treasury.

    The account was meant for retention money by contractors for schemes of four departments including communication and works, local government, irrigation and public health engineering departments. The scandal came under intense scrutiny during a meeting of the PAC, chaired by K-P Assembly Speaker Babar Saleem Swati.

    Officials from the finance department and the Accountant General’s office admitted during the session that billions had been misappropriated from government funds.

    While an official embezzlement figure of Rs24 billion had been confirmed, the PAC members expressed dissatisfaction with the explanations provided by finance secretary and the accountant general.

    On Wednesday, the audit officials revealed that there had been a misuse of cheque book, with fraud committed by three individuals who have now been arrested. The National Accountability Bureau (NAB) is currently investigating the matter.

    The auditor general disclosed that despite sending three letters to the finance department, no disciplinary action had been taken against any of their officials. The committee demanded complete details of the case and directed that all relevant records be submitted.

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  • Apollo-backed Athora nearing takeover of UK’s Pension Insurance Corporation – Financial Times

    Apollo-backed Athora nearing takeover of UK’s Pension Insurance Corporation – Financial Times

    1. Apollo-backed Athora nearing takeover of UK’s Pension Insurance Corporation  Financial Times
    2. Apollo-backed Athora closes in on £6bn Pension Insurance Corporation deal  Sky News
    3. R120 billion sale on the cards for Johann Rupert’s English giant  Business Tech
    4. STOCK HIGHLIGHT: Investors celebrate Reinet talks  BusinessLIVE
    5. Johann Rupert’s ‘stepchild’ has another big sale in the works  Daily Investor

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  • Weather Satellites Can Even Study the Weather Over on Venus

    Weather Satellites Can Even Study the Weather Over on Venus

    In 2014 and 2016, the Himawari-8 and -9 satellites were launched into orbit. Owned and operated by the Japan Meteorological Agency (JMA), these satellites monitor global weather patterns and atmospheric phenomena using their multispectral Advanced Himawari Imagers (AHIs). In a recent study, a team led by the University of Tokyo presented infrared images that capture changes in Venus’ atmosphere, revealing unseen temperature patterns in its cloud tops. The results show that meteorological satellites can complement observations of Venus’ atmosphere by robotic missions and ground-based telescopes.

    The team was led by Gaku Nishiyama, a visiting postdoctoral researcher at the University of Tokyo and the Institute of Space Research at the German Aerospace Center (DLR). The Max Planck Institute for Extraterrestrial Physics (MPE), National Institute of Advanced Industrial Science and Technology, the University of Tokyo’s Institute of Astronomy, Graduate School of Frontier Sciences, the National Astronomical Observatory of Japan (NAOJ), Institute of Space and Astronautical Science (ISAS) at the Japan Aerospace Exploration Agency (JAXA), the European Space Research and Technology Centre (ESTEC), and multiple universities.

    Scientists have studied Venus’ atmosphere for decades, hoping to learn more about the dynamics of the hottest planet in the Solar System. However, several mysteries are still unresolved, such as its thermal tides and planetary-scale waves. As Nishiyama and his colleagues indicated in their study, multi-band spectral monitoring of Venus’ atmosphere would shed light on these and related phenomena. This presents multiple challenges, however, and robotic probes sent to Venus in the past decade have been limited to either single-band imagery or short observation periods. As Nishiyama said in a UTokyo press release:

    The atmosphere of Venus has been known to exhibit year-scale variations in reflectance and wind speed; however, no planetary mission has succeeded in continuous observation for longer than 10 years due to their mission lifetimes. Ground-based observations can also contribute to long-term monitoring, but their observations generally have limitations due to the Earth’s atmosphere and sunlight during the daytime.

    The Advanced Himawari Imagers measure Venus’ temperature over multiple infrared bands, showing the temporal variation across the period of observation. ©2025 Nishiyama et al. CC-BY-ND

    Nishiyama and his colleagues believe meteorological satellites could fill this gap thanks to their extended lifetimes and capabilities. The Himawari satellites are scheduled to remain operational for more than a decade (until 2029). In addition, the AHI instruments provide multi-band infrared coverage of Earth’s atmosphere to obtain temperature information from different altitudes, which is essential to tracking and predicting weather patterns. Lastly, the geostationary satellites can obtain images of the turbulent atmosphere when they are aligned with Earth and Venus.

    To demonstrate the potential of these missions, the team used data from the Himawari-8 and -9 satellites to map the temporal dynamics of Venus’ atmosphere and create a comparative analysis with previous datasets. This consisted of extracting all the AHI images where Venus was visible in the distance (437 images in total) to create a dataset. This allowed them to track temperature variations in multiple infrared bands in Venus’ cloud tops over time. This was then analyzed on daily and annual timescales to discern variability in Venus’ thermal tides and planetary-scale waves.

    Their analysis confirmed that both the tides and waves are subject to changes in amplitude over time, which appear to decrease with altitude. Moreover, it allowed them to identify calibration discrepancies in data retrieved by previous planetary missions. Last, the results suggest that variations in thermal tide amplitude could be linked to variations in the structure of Venus’ atmosphere that occur every decade or so. However, the limited temporal resolution of the AHI data makes it very difficult to determine the physics behind these variations at this time.

    Nevertheless, Nishiyama and his team believe their analysis method will provide vital data about Venus until future planetary missions are sent there. At present, there are six missions under development worldwide, including NASA’s Venus Emissivity, Radio Science, InSAR, Topography, and Spectroscopy (VERITAS) orbiter and the Deep Atmosphere Venus Investigation of Noble gases, Chemistry, and Imaging (DAVINCI) probe, and the ESA’s EnVision orbiter. In the meantime, Nishiyama and his colleagues are already contemplating how their research using multi-band spectral data from Earth observation satellites could be applied to the study of other planets:

    I think that our novel approach in this study successfully opened a new avenue for long-term and multi-band monitoring of solar system bodies. This includes the moon and Mercury, which I also study at present. Their infrared spectra contain various information on physical and compositional properties of their surface, which are hints at how these rocky bodies have evolved until the present. We hope this study will enable us to assess physical and compositional properties, as well as atmospheric dynamics, and contribute to our further understanding of planetary evolution in general.

    The paper that details their findings appeared in Earth, Planets and Space on June 30th.

    Further Reading: University of Tokyo

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  • Trade corridor via rail link needed: minister

    Trade corridor via rail link needed: minister


    ISLAMABAD:

    Communications Minister Abdul Aleem Khan has reaffirmed Pakistan’s strong commitment to enhance trade through rail, road, and air routes.

    Addressing the Ministerial Summit of the Shanghai Cooperation Organization (SCO) in Tianjin, China, he expressed Pakistan’s keen interest in establishing trade corridors through China, Afghanistan and Iran, highlighting the country’s strategic role in regional connectivity and trade activities, said a press release issued here on Wednesday.

    He emphasized that under the CPEC, Pakistan has achieved major milestones in road infrastructure. “Our focus now is to expand trade beyond the borders of Afghanistan and Iran with fully functional international-standard cargo ports in Gwadar and Karachi.”

    The minister also underscored the significance of Khunjerab in the North and the coastal gateways of Gwadar and Karachi in Pakistan’s trade expansion strategy. Highlighting regional development initiatives, Abdul Aleem Khan noted that the proposed Uzbekistan-Afghanistan-Pakistan Railway Project would be a transformative step for the entire region.

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  • Hyundai IONIQ 6 N Set to Electrify Goodwood Festival of Speed with Dynamic Debut

    Hyundai IONIQ 6 N Set to Electrify Goodwood Festival of Speed with Dynamic Debut

    Hyundai has also released the first teaser film of IONIQ 6 N via the Hyundai N Worldwide YouTube channel, offering a striking cinematic glimpse of the car’s dynamic silhouette in action on the track.

    Recently unveiled teaser images show a high-performance sedan profile, engineered for high-speed stability through intensive aerodynamic development. Flared fenders, a wider stance, lightweight wheels and a motorsport-inspired swan-neck rear spoiler all emphasize IONIQ 6 N’s focus on aerodynamic efficiency and dynamic capability.

    IONIQ 6 N will make its public debut at the 2025 Goodwood Festival of Speed, where the Hyundai N brand will present a lineup of performance vehicles within a dedicated brand booth. The N Booth will feature interactive public activations, including race simulators and photo booths. Visitors who complete all N Booth activities will receive exclusive access to N’s grandstand, offering exclusive views of the iconic hill climb.


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  • PM to attend 17th ECO summit in Baku

    PM to attend 17th ECO summit in Baku


    ISLAMABAD:

    Prime Minister Shehbaz Sharif will lead Pakistan delegation at the 17th Summit of the ECO which is being held in Baku on July 3-4.

    “During the Summit, the Prime Minister will share Pakistan’s perspective on key regional and global challenges, reaffirm Pakistan’s commitment to the ECO Vision 2025, and advocate for enhanced intra-regional trade, transport connectivity, energy cooperation, and sustainable development,” the Foreign Office said in a statement.

    The prime minister will also hold bilateral meetings with other ECO leaders on the sidelines of the summit to discuss matters of mutual interest.

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  • Asian Shares Post Modest Gains Before US Payrolls: Markets Wrap

    Asian Shares Post Modest Gains Before US Payrolls: Markets Wrap

    (Bloomberg) — Asian shares inched higher in the leadup to US jobs data, after US stocks hit another record following Donald Trump’s announcement of a trade deal with Vietnam.

    A regional equity gauge opened up 0.2% after the S&P 500 closed at another record high Wednesday. News of a trade deal supported apparel stocks including Nike Inc. amid hopes the latest accord will avert a potential supply-chain catastrophe. The dollar held its losses, hovering around three-year lows.

    Treasuries edged up modestly in early Asian trading Thursday after yields rose in the prior session following heavy selling in the UK, where concerns about Chancellor of the Exchequer Rachel Reeves’ future reignited questions over the nation’s fiscal position. In Japan, 10-year bonds declined ahead of a closely watched auction of 30-year sovereign notes at 12:35 p.m. in Tokyo.

    The cross-asset moves underscored cautious optimism as traders contend with pockets of uncertainty ahead of jobs data that will help identify the path ahead for interest rates. Like in the UK, investors have raised concerns in the US, where Trump’s signature economic legislation stalled in the House Wednesday afternoon as Republican fiscal conservatives delayed a key procedural vote.

    On the Vietnam trade deal, Trump said he reached a deal with the country after weeks of negotiations. A 20% tariff will be placed on Vietnamese exports to the US, with a 40% levy on any goods deemed to be transshipped through the country. Trump said that Vietnam had agreed to drop all levies on US imports.

    Markets Live Strategist Mary Nicola says:

    The deal also includes a 40% duty on transshipped goods, a clause clearly aimed at Chinese exports. Details on enforcement remain scarce, but this heightens risks of a potential response from Beijing.

    Meanwhile, UK Prime Minister Keir Starmer said Rachel Reeves will stay on as Chancellor of the Exchequer, as he sought to draw a line under speculation about her future that sparked the bond selloff.

    Back in the US, monthly nonfarm payroll data due later Thursday — a day earlier than usual due to a holiday —  will show slower hiring and the highest unemployment rate since 2021 as the Trump administration’s trade and immigration policy shifts start to leave an imprint.

    Separate private payrolls data from ADP Research on Wednesday showed employment at US companies fell for the first time in over two years. Despite signs of a downshift, Federal Reserve Chair Jerome Powell has repeated the labor market remains solid. Policymakers have refrained from lowering interest rates this year as they wait to see the impact of tariffs on inflation.

    “One of the reasons the Fed has been able to be patient before cutting rates was because the job market was holding up so well, so if that were to change, then the Fed may be forced to move earlier than they would like,” said Chris Zaccarelli at Northlight Asset Management.

    Following ADP Research’s private payrolls data, traders added to wagers on at least two rate reductions this year, with the first coming in September. If the upcoming jobs report shows further weakness, traders reckon the Fed could move up cuts.

    Some of the main moves in markets:

    Stocks

    • S&P 500 futures were little changed as of 9:18 a.m. Tokyo time
    • Japan’s Topix fell 0.3%
    • Australia’s S&P/ASX 200 was little changed
    • Euro Stoxx 50 futures rose 0.6%

    Currencies

    • The Bloomberg Dollar Spot Index was little changed
    • The euro was little changed at $1.1806
    • The Japanese yen rose 0.1% to 143.49 per dollar
    • The offshore yuan was little changed at 7.1607 per dollar

    Cryptocurrencies

    • Bitcoin fell 0.2% to $108,958.4
    • Ether fell 0.7% to $2,573.04

    Bonds

    • The yield on 10-year Treasuries declined one basis point to 4.27%
    • Australia’s 10-year yield advanced four basis points to 4.19%

    Commodities

    • West Texas Intermediate crude fell 0.3% to $67.24 a barrel
    • Spot gold fell 0.3% to $3,346.68 an ounce

    This story was produced with the assistance of Bloomberg Automation.

    –With assistance from Richard Henderson.

    ©2025 Bloomberg L.P.

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