Collins Dictionary has chosen the term NFT as its word of the year after surging interest in the digital tokens that can sell for millions of dollars brought it into the mainstream. NFT is short for non-fungible token. Collins defines it as “a unique digital certificate, registered in a blockchain, that is used to record […]
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Italy’s antitrust watchdog has fined Apple and Amazon a total of more than 200 million euros ($225 million) for cooperating to restrict competition in the sale of Apple and Beats branded products in violation of European Union rules. An investigation found that provisions in a 2018 agreement between the U.S. tech giants limited access to […]
Samsung said it plans to build a $17 billion semiconductor factory outside of Austin, Texas, amid a global shortage of chips used in phones, cars and other electronic devices. “This is the largest foreign direct investment in the state of Texas, ever,” Texas Gov. Greg Abbott said in announcing the project Tuesday. Samsung said it […]
A coalition of states attorneys general launched Thursday an investigation into Instagram’s ways of attracting and affecting the younger generation, especially younger girls, in their latest attempt to harshen regulatory scrutiny on Meta Platforms Inc, according to The Wall Street Journal. The examination into the social networking platform led by eight states, with Massachusetts and Nebraska […]
Food delivery company DoorDash Inc is paying more than $5 million to settle an investigation by San Francisco into alleged labor law violations, with the bulk of the money going to delivery workers, the city attorney said on Monday. The San Francisco Chronicle was first to report the news Monday, quoted San Francisco City Attorney […]
Taiwan’s Economy Minister Wang Mei-Hua revealed on Tuesday that the U.S. discussed with its country potential plans to address the semiconductor chip shortage, in addition to finding the needed approaches to counter China’s economic “coercion.” During the second session of an economic dialogue initiated last year, the discussion followed a week after a virtual meeting […]
General Motors is testing the water in electric boating by buying a 25% stake in a Seattle company that makes battery-powered outboard motors. The Detroit automaker said Monday that it bought the stake in Pure Watercraft for a venture that it says will develop and commercialize battery electric watercraft. Pure Watercraft, founded in 2011, is […]
Asian shares were mixed Tuesday after a late drop left major Wall Street indexes mostly lower. Tokyo was closed Tuesday for a holiday. Hong Kong and Seoul declined while Shanghai advanced. Market players appeared to be relieved to learn that President Joe Biden will nominate Jerome Powell for a second four-year term at the helm […]
The European Commission said Thursday that it could approve aid to fund production of semiconductors in the 27-nation bloc amid a global chip shortage and intense worldwide competition to fill the need. The EU’s executive arm expects that the scarcity of semiconductors — a key component in everything from smartphones to cars — will last, […]
E-commerce giant Alibaba Group’s shares plummeted on Thursday in both New York and Hong Kong listings by more than 10 percent, following the giant’s drastic cut in sales, led by slow growth in China’s consumer spending. Following the quarterly results, Alibaba revealed expectations of reaching a 20 to 30 percent rise in sales in the […]