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Japanese Finance Minister Satsuki Katayama declined to comment on whether foreign exchange intervention was carried out today.On August 3rd, the Token Service Working Group (in preparation) of the Artificial Intelligence Industry Development Alliance (AIIA) recently held a closed-door seminar on "Token Cross-border Flow and Open Cooperation." The Token Service Working Group will systematically promote the construction of a token cross-border flow and open cooperation mechanism in the following five aspects: First, systematically conduct research on cross-border flow mechanisms. Compile the "Token Cross-border Flow Development Research Report," analyze the regulatory policies and technical constraints of major global markets, and clarify compliance boundaries, risk points, and feasible paths; Second, simultaneously develop dual standards and specifications for compliance and technology. Promote the compilation of the "Artificial Intelligence Token Cross-border Flow Compliance Guidelines" and the "Artificial Intelligence Token Cross-border Flow Technical Requirements," clarify compliance requirements for data export and technology export, and unify interface specifications for cross-domain transmission and computing power scheduling; Third, conduct pilot demonstrations in emerging markets. Relying on multilateral and bilateral mechanisms targeting emerging markets such as ASEAN and BRICS, and the advantages of free trade zones, conduct closed-loop verification of "compliant entry + domestic processing + compliant exit," testing the stability of technical solutions and the effectiveness of compliance mechanisms; Fourth, build a cross-border service supply and demand matching platform; Fifth, construct a token cross-border flow service system.Japanese Chief Cabinet Secretary Minoru Kihara: Japan and the United States maintain close communication on foreign exchange issues. If necessary, Japan will not hesitate to take further foreign exchange action.August 3 - The Peruvian National Institute of Geophysics reported that a 5.7-magnitude earthquake struck 53 kilometers northeast of Ocaiacu, Leoncio-Oprado Province, Huanuco Region, at 8:42 p.m. local time on August 2. The earthquake had a depth of 152 kilometers, and there are currently no reports of casualties or damage.August 3rd - Driven by major customers such as Nvidia, AMD, and Broadcom actively securing production capacity, TSMCs 3nm process target of 180,000 wafers per month, originally scheduled for the end of the year, is expected to be achieved ahead of schedule in early Q4. Meanwhile, orders for the 2nm process are also rapidly increasing, with monthly wafer shipments expected to approach 100,000 wafers by the end of the year as planned.

The CEO of Suncor Energy resigns after the most recent workplace death

Skylar Williams

Jul 11, 2022 11:08

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After a series of terrible mishaps at Canada's third-largest oil producer, Suncor Energy Inc. announced on Friday that CEO Mark Little has resigned.


Little was also stepping down from his roles as president and board member, according to a statement from the Calgary, Alberta-based company.


While the board seeks for a permanent successor, Kris Smith, the company's executive vice president of downstream, will succeed Little as temporary CEO.


Little announced his resignation one day after a worker was murdered at Suncor's oil sands base facility in northern Alberta. It was the second fatality at a Suncor facility in 2018, and the twelfth since 2014.


Michael Wilson, the chair of the board, said in a statement, "Suncor is dedicated to attaining safety and operational excellence across our whole company, and we must recognise where we have fallen short and the crucial need for change."


Little, who joined Suncor's CEO in 2019 after serving as COO, is under pressure to address safety and operational challenges. He reminded investors in February that he took full responsibility for deaths at Suncor locations and committed to enhance operations.


Elliot Management, a U.S.-based activist investment fund, announced a 3.4% holding in Suncor in April and encouraged the corporation to install new board members, restructure management, and conduct a strategy review due to Suncor's lagging share price.


As a consequence of Elliot's public criticism, Little's work as chief executive officer was scrutinized more closely.


Canadian Natural (NYSE:CNQ) Resources Ltd overtook Suncor in 2020 as the country's most valued energy firm.


In addition to the deaths, the firm displeased investors by lowering its dividend by a substantial amount in 2020, consistently missing its production projections, and experiencing operational challenges at its new Fort Hills oil sands mine, which have delayed the completion of the project.


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