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Amazon says French digital tax will hit consumers, small firms

Friday, 2 August 2019

Amazon said on Friday it would pass on the cost of a new French digital tax to consumers and business partners, warning that the measure could make it harder for some small businesses in France to compete against foreign rivals. The French Senate voted last month to approve a 3% levy on tech giants’ revenue from digital services earned in France, riling US President Donald Trump, who threatened to impose retaliatory duties on French wine. “We are not in a position to absorb an ...

Apple halts Siri response grading program after privacy concerns

Friday, 2 August 2019

Apple Inc said on Friday it suspended its global program where it analyzed recordings from users interacting with its voice assistant Siri, after some privacy concerns were raised about the program.Apple’s decision comes in the light of a report from in Guardian last week which said the company’s contractors around the globe tasked with reviewing the recordings regularly heard confidential information and private conversations.“While we conduct a thorough review, we are ...

Pentagon puts $10 bln JEDI contract on hold after complaints

Friday, 2 August 2019

The Pentagon has decided to put on hold its decision to award a $10 billion cloud computing contract after President Donald Trump said his administration was examining Amazon.com Inc’s bid following complaints from other tech companies. The contract, called the Joint Enterprise Defense Infrastructure Cloud, or JEDI, is part of a broad modernization of the Pentagon’s information technology systems. Oracle Corp lobbied aggressively and expressed concerns about ...

Egypt’s Fawry raises $22 mln in private placing ahead of IPO

Friday, 2 August 2019

Egyptian digital payments company Fawry has raised about 360 million Egyptian pounds ($22 million) in a heavily over-subscribed private share placing ahead of its initial public offering (IPO) on the local stock exchange, the listing manager said on Thursday. Investment bank EFG Hermes said bids were entered for 15.9 times the number of shares on offer in the placing, which was priced at 6.46 Egyptian pounds per share. The placing represents about 10% of Fawry’s ...

UK markets watchdog: Cryptoassets have ‘no intrinsic value’

Wednesday, 31 July 2019

People should be cautious about putting money into unregulated cryptoassets like bitcoin that have “no intrinsic value” and few protections, Britain’s Financial Conduct Authority said on Wednesday. The FCA was publishing final guidance to help firms in the sector understand if their cryptoasset activities come under existing rules. “This will allow firms to have a better understanding of whether they need to be authorized and what they need to do to ensure they are ...

US could decide on licenses for companies to sell to Huawei by next week: Ross

Wednesday, 31 July 2019

The Trump administration could respond by next week to companies that have requested special licenses to sell to Chinese telecoms giant Huawei Technologies Co Ltd, US Commerce Secretary Wilbur Ross said on Tuesday during a visit to Brazil. Ross said he expects a decision on the licenses will be “forthcoming” by the time he returns to the United States, after making additional stops in Argentina and Peru over the next few days. The Trump administration has ...

Huawei says revenue surges 23 pct in first half

Tuesday, 30 July 2019

Huawei’s revenue jumped by 23 percent in the first half of the year, the company said Tuesday, as the Chinese telecom giant shrugged off US sanctions.Huawei has been under immense pressure this year as Washington has lobbied allies worldwide to skirt the company’s telecom gear over security concerns, and in May blacklisted the firm from both the US market and buying crucial US components.Sales reached 401.3 billion yuan ($58.3 billion) in the first six months of the year, the company ...

Google builds gesture controls into new Pixel phone

Tuesday, 30 July 2019

Google on Monday revealed that it is building gesture controls and face recognition into a next-generation Pixel smartphone as it looks to fuel early enthusiasm for its upcoming flagship handset.The Pixel 4 is expected to make its debut in October, along with a new iPhone as competitors strive to win or keep fans in the competitive, cooling smartphone market.The two new Pixel features teased by Google were billed as representing a “next step” in the internet giant’s vision for ...

Apple won’t get tariff waivers for certain China imports: Trump

Friday, 26 July 2019

President Donald Trump said on Friday that Apple would face tariffs for components of its Mac Pro computers which are expected to be manufactured in China. Trump’s comments came after reports the US tech giant was seeking an exemption from tariffs for the high-end computer, which in the past had been made in the United States. Apple is reportedly now shifting production to China. “Apple will not be given Tariff wavers, or relief, for Mac Pro parts that are made in China. Make them in ...

Egyptian digital payment firm Fawry sets IPO price at 6.46 Egyptian pounds

Friday, 26 July 2019

Egyptian digital payment company Fawry has set the price for its initial public offering (IPO) at 6.46 Egyptian pounds ($0.3906), it said on Friday. The company said it is planning to offer 254.6 million ordinary shares, representing 36% of its share capital, on the Egyptian stock market. Investment bank EFG Hermes, which is managing the listing, announced the listing plan on Sunday but gave no indication of the expected offer price. EFG Hermes said the ...

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