France will block development of Facebook libra cryptocurrency

Thursday, 12 September 2019

France warned Thursday it will block development of Facebook’s planned Libra cryptocurrency in Europe because it threatens the “monetary sovereignty” of governments.“I want to be absolutely clear: in these conditions, we cannot authorize the development of Libra on European soil,” Bruno Le Maire said at the opening of an OECD conference on virtual, cryptocurrencies.Facebook unveiled in June its plans for Libra in an announcement greeted with concern by governments ...

Follow the money to fight human trafficking, top Interpol director says

Thursday, 12 September 2019

Countries and companies need to share financial data if they hope to stop human trafficking, connecting governments and companies that often do not work together to fight crime, a top Interpol director said on Wednesday. Encouraging the private sector to share information, governments can help international authorities get access to sensitive data from financial institutions and industries, said Paul Stanfield, who oversees organized and emerging crime units at Interpol. ...

Uber vows to fight California worker's rights law

Thursday, 12 September 2019

California lawmakers confronting the changing definition of work have approved sweeping legislation designed to give many contract workers new pay and benefit protections, but tech giants Uber and Lyft vowed to keep fighting the changes, possibly by bankrolling an expensive fight on the 2020 ballot. The measure, passed Wednesday, that is heading to Democratic Gov. Gavin Newsom outlines a three-part test that makes it harder for companies to classify workers as independent contractors who are not ...

Uber fires engineering, product staff for profit

Wednesday, 11 September 2019

Uber on Tuesday said it was laying off about eight percent of its product and engineering teams as the smartphone-summoned ride service tries to map a route to profitability. The San Francisco-based company is cutting about 265 people from its engineering group and another 170 or so jobs from its product team, a spokesman told AFP. While a fast-growing startup, ranks of Uber employees swelled to more than 27,000 employees around the world and the time had come to shift gears and cut ranks for ...

Huawei drops lawsuit against US over seized equipment: Court filing

Tuesday, 10 September 2019

China’s Huawei Technologies Co Ltd has dropped a lawsuit against the US government after Washington released telecommunications equipment it had seized on suspicion of violations of export controls, according to a court filing on Monday. Huawei, which has been placed on a US trade blacklist since May, had sued the Commerce Department and other US government agencies for seizing its equipment in Alaska in 2017 en route back to China after a lab test in California. ...

Consumer preference main risk of tech disruption for GCC retail banks: S&P

Monday, 9 September 2019

The main risk for technological disruption in banks based in the Arabian Gulf is customers changing their preferences, according to a report released by S&P Global Ratings on Sunday.S&P Global Ratings Credit Analyst Mohamed Damak said that the conclusion of the report was drawn from an analysis of a banking system’s technology, regulation, industry, and preferences.“Regulatory risk is low because policymakers are conscious of the extreme importance of local banking systems in ...

Egypt’s Fawry eyes UAE deal, to enter Saudi and Kuwaiti markets

Sunday, 8 September 2019

Egyptian digital payments company Fawry plans to expand into the United Arab Emirates by the end of the year and also hopes to enter Saudi Arabia and Kuwait in 2020, its managing director said. Mohamed Okasha told Reuters Fawry planned to complete a deal with one of the largest listed UAE banks to use its technology platform in the Gulf country, without giving details.

Huawei showcases chip for new smartphone despite uncertainty over Google Android

Friday, 6 September 2019

Huawei Technologies showcased its chipset for a new high-end smartphone on Friday, pressing ahead with plans to launch its Mate 30 range, despite uncertainty about whether the new phones will be able to run Google’s Android operating system and apps. The Chinese tech giant bills the Kirin 990 chipset as the first all-in-one 5G system on a chip, describing it as superior to alternatives from Qualcomm and Samsung that, it says, graft 5G modems on to 4G chips. The ...

Amazon’s Ring doorbell cameras attract congressional concern

Friday, 6 September 2019

Amazon-owned doorbell camera company Ring is facing questions from a US senator over its partnerships with police departments around the country. Senator Edward Markey, a Massachusetts Democrat, sent a letter on Thursday to Amazon CEO Jeff Bezos raising privacy and civil liberty concerns about Ring cameras that are capturing and storing footage of US neighborhoods. Markey is seeking more information from Bezos about Ring's video-sharing agreements with law enforcement agencies. The lawmaker says ...

Huawei denies US allegations of technology theft

Tuesday, 3 September 2019

Beleaguered Chinese telecom giant Huawei on Tuesday denied accusations reported in the Wall Street Journal that it stole technology from a Portuguese inventor, accusing him of “taking advantage of the current geopolitical situation.” The US Department of Justice is looking into the claim, potentially adding to existing criminal cases against Huawei, the WSJ reported last week.Huawei -- considered the world leader in superfast 5G equipment and the world’s number two smartphone ...

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