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Australia to establish office to police Facebook, Google

Friday, 26 July 2019

Australia said it would establish the world’s first dedicated office to police Facebook Inc and Google as part of reforms designed to rein in the US technology giants, potentially setting a precedent for global lawmakers. The move tightens the regulatory screws on the online platforms, which have governments from the United States to Europe scrambling to address concerns ranging from anti-trust issues to the spread of “fake news” and hate speech. Australian Treasurer Josh ...

Apple pays $1 bln for Intel unit in push for chip independence

Friday, 26 July 2019

Apple Inc took a major step toward supplying its own smartphone chips by purchasing the majority of Intel Corp’s modem business in a deal valued at $1 billion, the companies said on Thursday. Under the deal, about 2,200 Intel employees will join Apple, along with intellectual property, equipment and leases. Combined with its existing portfolio, Apple will have 17,000 wireless technology patents, ranging from cellular communication standards to modems, making it a more powerful ...

Amazon’s push for one-day delivery dents profits, costs up 21 pct

Friday, 26 July 2019

Amazon.com Inc on Thursday reported its first profit miss in two years and said income would slump in the current quarter, as the online retailer ramps up spending on one-day delivery to spark sales growth. Shares fell more than 2% in after-hours trade. Seattle-based Amazon has drawn more than 100 million paid subscribers to its loyalty club Prime by releasing original TV shows, equipping more gadgets with its voice assistant Alexa and offering quick shipping for ...

60 percent rise in users targeted by password stealers: Report

Thursday, 25 July 2019

According to new data from Kaspersky, there has been a rise in the number of users targeted by malware designed to harvest consumers’ digital data to over 940,000 for the first half of 2019, up from less than 600,000 for the same period in 2018.This malware, otherwise known as Password Stealing Ware (PSW), is aims to sabotage privacy, stealing consumers’ digital data directly from web browsers, which sometimes includes financial information.“Modern consumers are increasingly ...

Samsung to launch foldable smartphone in September

Thursday, 25 July 2019

South Korean electronics giant Samsung announced Thursday it will release its cutting-edge foldable smartphone in September, despite a trade dispute between Seoul and Tokyo which analysts say will affect delivery.Tokyo earlier this month restricted export to South Korea of several key materials crucial to its world-leading electronics and smartphone companies, including market leader Samsung.The decision was made in response to a South Korean court decision ordering Japanese firms that used ...

Tesla posts $408 million loss in latest quarter, causing stock to plummet

Thursday, 25 July 2019

Tesla lost $408 million in its latest quarter as it struggles to prove it can make money selling electric cars at mass-market prices. The setback announced Wednesday had already been telegraphed by Tesla CEO Elon Musk. Still, it underscored Tesla’s ongoing challenges and helps explain why the company’s shares have plunged by more than 20% this year while the Standard & Poor’s 500 index has surged by 20%. On the upside, Tesla’s second-quarter revenue climbed 47% from ...

Nissan plans to cut over 10,000 jobs globally: Source

Wednesday, 24 July 2019

Nissan Motor Co is planning to cut more than 10,000 jobs globally as part of efforts to turn around its business, a person familiar with the matter said on Wednesday, showing a tough road ahead for the automaker which is also reeling from the ouster of former Chairman Carlos Ghosn. The cuts include the 4,800 already announced in May, and will mostly be at factories overseas with low utilization rates, the source said on the condition of anonymity, adding that the move would be ...

US Justice Department to open new antitrust review of big tech companies: WSJ

Wednesday, 24 July 2019

The US Justice Department is opening a broad antitrust review into whether dominant technology firms are unlawfully stifling competition, the Wall Street Journal reported on Tuesday, citing department officials. The review is geared toward examining the practices of online platforms that dominate internet search, social media and retail services, including Facebook Inc, Alphabet Inc’s Google, Amazon.com Inc, and Apple Inc, according to the report. The Justice ...

UAE businesses’ adoption of AI hindered by knowledge gap: Report

Tuesday, 23 July 2019

Almost half of businesses in the UAE are struggling to adopt artificial intelligence (AI) due to a knowledge gap on the subject, according to a survey of business leaders in the UAE conducted by the market research partner Vanson Bourne and sponsored by the technology company Avaya.Forty-four percent of UAE respondents - higher than the global average of 30 percent - cited confusion between real-world AI and fictional AI seen in TV and movies as contributing to the knowledge gap, which is the ...

Trump meets with tech CEOs on Huawei

Tuesday, 23 July 2019

US President Donald Trump met on Monday with the chief executives of seven technology companies and he agreed with their request for timely licensing decisions from the Commerce Department on blacklisted Chinese firm Huawei Technologies, the White House said. “The CEOs expressed strong support of the President’s policies, including national security restrictions on United States telecom equipment purchases and sales to Huawei,” a White House statement said. ...

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