A recent ban of TikTok use on U.S. government-owned devices, coupled with new legislation in Congress seeking to block the app, have fueled expectations the popular Chinese-owned platform could soon be barred nationwide. Adding to the perception, last week the company said the Biden administration had demanded TikTok’s owners divest their stakes in the popular […]
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France’s National Assembly on Thursday approved the use of Artificial Intelligence (AI) video surveillance during the 2024 Paris Olympics, overlooking warnings from civil rights groups that the technology posed a threat to civil liberties. The government says algorithmic video surveillance can detect “pre-determined events”, abnormal behaviour and crowd surges, helping ensure the safety of millions […]
Bankrupt cryptocurrency exchange FTX said on Thursday it would sell its stake in Web3-focused startup Mysten Labs for $95 million, as it strives to pay back its customers. The exchange had paid nearly $101 million last year for preferred shares of Mysten and led a funding round that valued the platform which provides infrastructure for […]
Toshiba Corp’s board has accepted a $15.2 billion buyout offer from a group led by private equity firm Japan Industrial Partners, the company said on Thursday, potentially drawing a line under years of upheaval at the conglomerate. A successful deal, which would value Toshiba at 4,620 yen per share or 2 trillion yen in total, […]
Snap Inc, owner of photo messaging app Snapchat, launched a new division on Thursday that will help other companies build augmented reality features for their websites or apps. The division called AR Enterprise Services (ARES) marks the first time Snap will sell to business customers its AR technology, which can enhance photos and videos of […]
Moderna Inc has entered a licensing deal with Generation Bio Co to develop treatments targeting the immune system and liver, the latest such transaction by the vaccine maker as it expands beyond its COVID shots. Generation Bio’s shares rose about 13.14% to $4.40 in premarket trading on Thursday. Moderna will pay $40 million in cash […]
Accenture Plc on Thursday lowered its annual revenue and profit forecasts and said it would cut about 2.5% of workforce, or 19,000 jobs, the latest sign that the worsening global economic outlook was sapping corporate spending on IT services. More than half of the layoffs will affect staff at its non-billable corporate functions, the company […]
Private equity firms that acquired companies since the banking crisis started on March 8 have funded the deals mostly with their own funds, a departure from traditional leveraged buyouts that reflects their struggle to secure cheap debt. Four acquisitions of companies by private equity firms that were announced in the last two weeks were funded […]
China has never deliberately pursued a trade surplus with the United States, Shu Jueting, a commerce ministry spokesperson, said on Thursday, despite signs that China is continuing to reduce its reliance on American exports. Although American export data published on Feb. 7 shows that exports to China increased by $2.4 billion on the year to […]
Huawei Technologies on Thursday continued to press ahead against U.S. pressure by launching a new smartphone with a price starting at 4,488 yuan ($658), which it promised has a top end camera though it would only be able to use 4G. Richard Yu, CEO of Huawei’s consumer arm, spent almost an hour presenting Huawei’s self-developed […]