Author: i2wtc

Two women were killed and three others injured on Thursday after the roof of a six-storey residential building collapsed near Lyari’s Khadda Market in Karachi, officials said. Photo: FILE According to rescue authorities, the sixth floor of the Ghani Mansion building, located near Bilal Masjid and Peshawari Hotel, gave way and fell onto the fifth floor, which in turn collapsed onto the fourth. Rescue 1122 teams, along with other emergency services, rushed to the site and launched relief efforts. Police also cordoned off the area and helped coordinate rescue operations, which are yet underway. DIG South Syed Asad Raza confirmed…

Signage for Taiwan Semiconductor Manufacturing Company (TSMC) at it’s fabrication plant in Phoenix, Arizona, US, on Monday, March 3, 2025. Rebecca Noble | Bloomberg | Getty ImagesTaiwan Semiconductor Manufacturing Company CEO C.C. Wei on Thursday said the company is seeing “strong interest” from its leading U.S. customers and is working to speed up its volume production schedule by several quarters.TSMC is the world’s largest contract chip manufacturer, and the company has pledged to invest a total of $165 billion in advanced semiconductor manufacturing in the U.S. The company shared updates to its global manufacturing plans during its second-quarter earnings call on Thursday.”TSMC…

(L-R) Brian Moynihan, Chairman and CEO of Bank of America; Jamie Dimon, Chairman and CEO of JPMorgan Chase; and Jane Fraser, CEO of Citigroup; testify during a Senate Banking Committee hearing at the Hart Senate Office Building in Washington, D.C., on Dec. 6, 2023.Saul Loeb | Afp | Getty ImagesNearly everywhere you look in the world of finance, things are going surprisingly well — at least for now.Wall Street is humming thanks to a boom in stock and bond trading and a pickup in corporations acquiring competitors and taking out massive loans. At the same time, Main Street is holding…

Listen to article ISLAMABAD: In an interesting development, the apex court has remanded back to the High-Powered Selection Board (HPSB) the case of a retired civil servant for him for proforma promotion “de novo”. A proforma promotion is a type of promotion given to an employee without a change in the current post, pay, or responsibilities, but with the intent to maintain parity with a junior or peer who may have been promoted due to structural or administrative reasons. The court has noted that the promotion should be considered in accordance with the exactitudes of Fundamental Rule 17 (FR 17)—with fair, impartial…

Elon Musk listens as US President-elect Donald Trump speaks during a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC.Allison Robbert | Getty ImagesThe Securities and Exchange Commission has agreed to give Elon Musk more time to respond to its lawsuit over his alleged failure to properly disclose purchases of Twitter stock before bidding to buy the company.In a motion filed Thursday in U.S. District Court in Washington, the SEC said it had reached a joint agreement with Musk to push back the deadline for his response to Aug. 29. The…

Stock and bond markets and the value of the U.S. dollar will plunge if President Donald Trump fires Federal Reserve Chairman Jerome Powell, Sen. Elizabeth Warren warned Thursday.”I think they crash,” Warren, D-Mass., said on CNBC’s “Squawk Box” when asked what would happen if Trump succeeds in pushing Powell out as head of the U.S. central bank.As the top Democrat on the Senate Banking Committee, Warren has criticized Powell’s decision-making in the past. But she contended Thursday that the president’s relentless attacks on the central bank leader risk undermining the independence of the Fed, which is key for U.S. and…

Listen to article Pakistan Army has deployed helicopters as Punjab declared a state of emergency following heavy rains and widespread flooding that claimed at least 63 lives in the province on Thursday, the National Disaster Management Authority (NDMA) said. Since the start of the monsoon season on June 26, the death toll in Punjab has reached 103, with 393 injured, according to Reuters. According to the NDMA, army helicopters have been dispatched to rescue people stranded by floodwaters in Rawalpindi, Chakwal, and other affected areas. Pakistan Army is carrying out large-scale relief efforts, focusing on hard-to-reach areas to assist residents affected by…

Attendees walk through an exposition hall at AWS re:Invent, a conference hosted by Amazon Web Services, in Las Vegas on Dec. 3, 2024.Noah Berger | Getty ImagesAmazon is laying off some staffers in its cloud computing division, the company confirmed Thursday.”After a thorough review of our organization, our priorities, and what we need to focus on going forward, we’ve made the difficult business decision to eliminate some roles across particular teams in AWS,” Amazon spokesperson Brad Glasser said in a statement. “We didn’t make these decisions lightly, and we’re committed to supporting the employees throughout their transition.”The company declined to…

With expectations that prices will rise throughout the economy over the summer as more tariffs stack up, a group of legislators on Capitol Hill, highlighted by Senator Elizabeth Warren (D-Mass.), introduced a bill to target price gouging by the market’s biggest companies.The Price Gouging Prevention Act of 2025 — introduced on Thursday by Warren along with Senator Tammy Baldwin (D-Wisc.), Rep. Jan Schakowsky (D-Illinois), and Rep. Chris Deluzio (D-Pa.) — would make price gouging illegal and give the Federal Trade Commission and state attorneys general the power to litigate alleged abuses of market power.The proposed legislation comes just days after…

Bristol Myers Squibb and Pfizer on Thursday said they will start selling their blockbuster blood thinner, Eliquis, directly to patients at a more than 40% discount.The move comes as the Trump administration ramps up pressure on the pharmaceutical industry to cut drug prices, and threatens to impose sweeping tariffs on pharmaceuticals imported into the U.S. The companies’ new effort would bypass traditional middlemen, including pharmacy benefit managers and insurers, to cut the drug’s monthly cost from a list price of around $606 to $346. Starting Sept. 8, uninsured, underinsured and self-pay patients will be able to purchase the medicine directly from…