Tamil Nadu: DMK to discuss legal political options over Senthil Balaji's dismissal from cabinet

Senthil Balaji's dismissal from the Tamil Nadu Cabinet has been put on hold after intervention from the Union Home Ministry, says the DMK. The Governor's order was held in abeyance within five hours and the DMK is evaluating legal and political implications.

from mint - politics Senthil Balaji's dismissal from the Tamil Nadu Cabinet has been put on hold after intervention from the Union Home Ministry, says the DMK. The Governor's order was held in abeyance within five hours and the DMK is evaluating legal and political implications.

Gadgets 360

Canada's Department of Justice has concluded that Microsoft's deal to buy Call of Duty maker Activision Blizzard "is likely to" lead to less competition in some aspects of gaming, according to a court filing on Thursday.

In a letter dated Wednesday to Microsoft's US lawyers, the department said it had communicated to Microsoft's and Activision's lawyers in Canada that the deal would likely lead to less competition in "gaming consoles and multigame subscription services (as well as cloud gaming)."

On Thursday, the letter was put on the docket of a US federal court proceeding in which the US Federal Trade Commission is asking a judge to temporarily stop the proposed transaction so that an FTC judge will have time to assess it. Closing arguments in the proceeding are set for later on Thursday.

Microsoft has pressed for a decision in the court fight before the July 18 termination date for the deal. A ruling could come as early as next week.

In a statement, Microsoft said it was working with antitrust enforcers to address concerns.

"We received notice from the Canada Competition Bureau that it would continue to monitor our acquisition of Activision Blizzard after the formal waiting period preventing the deal to close expired," a Microsoft spokesperson said.

Microsoft's bid to acquire the Call of Duty videogame maker also faces opposition from British competition authorities. Microsoft's appeal to Britain's Competition Appeal Tribunal is scheduled for July 28.

© Thomson Reuters 2023

---

What are the most exciting titles that gamers can look forward to in 2023? We discuss some of our favourites on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/vu2ywDB

Canada's Department of Justice has concluded that Microsoft's deal to buy Call of Duty maker Activision Blizzard "is likely to" lead to less competition in some aspects of gaming, according to a court filing on Thursday.

In a letter dated Wednesday to Microsoft's US lawyers, the department said it had communicated to Microsoft's and Activision's lawyers in Canada that the deal would likely lead to less competition in "gaming consoles and multigame subscription services (as well as cloud gaming)."

On Thursday, the letter was put on the docket of a US federal court proceeding in which the US Federal Trade Commission is asking a judge to temporarily stop the proposed transaction so that an FTC judge will have time to assess it. Closing arguments in the proceeding are set for later on Thursday.

Microsoft has pressed for a decision in the court fight before the July 18 termination date for the deal. A ruling could come as early as next week.

In a statement, Microsoft said it was working with antitrust enforcers to address concerns.

"We received notice from the Canada Competition Bureau that it would continue to monitor our acquisition of Activision Blizzard after the formal waiting period preventing the deal to close expired," a Microsoft spokesperson said.

Microsoft's bid to acquire the Call of Duty videogame maker also faces opposition from British competition authorities. Microsoft's appeal to Britain's Competition Appeal Tribunal is scheduled for July 28.

© Thomson Reuters 2023

---

What are the most exciting titles that gamers can look forward to in 2023? We discuss some of our favourites on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

NCP BJP had meetings ahead of oath-taking ceremony in 2019 Sharad Pawar calls it political googly

NCP chief Sharad Pawar admits to engaging in discussions with BJP after 2019 Maharashtra elections to expose their power-hungry nature.

from mint - politics NCP chief Sharad Pawar admits to engaging in discussions with BJP after 2019 Maharashtra elections to expose their power-hungry nature.

Assam CM Himanta Biswa Sarma slams Rahul Gandhi for taking political advantage of tragic situation in Manipur

Assam Chief Minister Himanta Biswa Sarma criticizes Rahul Gandhi's visit to Manipur, calling it media hype and an attempt to gain political advantage. Sarma says the situation in Manipur is tragic and no one should exploit it.

from mint - politics Assam Chief Minister Himanta Biswa Sarma criticizes Rahul Gandhi's visit to Manipur, calling it media hype and an attempt to gain political advantage. Sarma says the situation in Manipur is tragic and no one should exploit it.

Gadgets 360

Inflection AI, a startup backed by several Silicon Valley heavyweights, said on Thursday it had raised $1.3 billion (nearly Rs. 10,670 crore) from investors including Microsoft and Nvidia, amid a boom in the artificial intelligence (AI) sector.

The investment, a mix of cash and cloud credit, valued the one-year-old company at $4 billion (nearly Rs. 32,840 crore), a source familiar with the matter told Reuters.

Inflection released its chatbot Pi last month. Founded by Google DeepMind co-founder Mustafa Suleyman and LinkedIn co-founder Reid Hoffman, it focused on building consumer-faced AI products and is considered a top rival of OpenAI.

Pi uses generative AI technology, similar to ChatGPT, to interact with users through dialogues, allowing people to ask questions and share feedback. Inflection said it wants to build a personal AI that will help people plan, schedule, gather information and perform other tasks.

Palo Alto, California-based Inflection AI has about 35 employees. It raised $225 million (nearly Rs. 1,850 crore) in a first round of funding in early 2022 from Greylock, Microsoft and Reid Hoffman.

Last week, it released a report on its model Inflection-1, which powers Pi, and claims it has outperformed most models available.

Most of the funding will be used to build computing power to develop a more powerful foundation model, according to Suleyman, chief executive at Inflection.

"We'll be building a cluster of around 22,000 H100s. This is approximately three times more compute than what was used to train all of GPT4. Speed and scale are what's going to really enable us to build a differentiated product," Suleyman said at Collision Conference on Thursday.

The AI space has been hailed as the next frontier for technology after OpenAI's bot ChatGPT became a viral sensation late last year.

The industry has drawn several investors in the past few months as corporates examine ways to integrate the technology into their businesses, while regulators have been mulling over how to tackle the technology.

Microsoft, an existing investor and also backer of rival OpenAI, participated in Inflection's latest fundraise.

Nvidia, which has stepped up its AI investments recently, Hoffman, Bill Gates and former Google CEO Eric Schmidt also participated in the latest round, Inflection said.

© Thomson Reuters 2023

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/Mf5um6a

Inflection AI, a startup backed by several Silicon Valley heavyweights, said on Thursday it had raised $1.3 billion (nearly Rs. 10,670 crore) from investors including Microsoft and Nvidia, amid a boom in the artificial intelligence (AI) sector.

The investment, a mix of cash and cloud credit, valued the one-year-old company at $4 billion (nearly Rs. 32,840 crore), a source familiar with the matter told Reuters.

Inflection released its chatbot Pi last month. Founded by Google DeepMind co-founder Mustafa Suleyman and LinkedIn co-founder Reid Hoffman, it focused on building consumer-faced AI products and is considered a top rival of OpenAI.

Pi uses generative AI technology, similar to ChatGPT, to interact with users through dialogues, allowing people to ask questions and share feedback. Inflection said it wants to build a personal AI that will help people plan, schedule, gather information and perform other tasks.

Palo Alto, California-based Inflection AI has about 35 employees. It raised $225 million (nearly Rs. 1,850 crore) in a first round of funding in early 2022 from Greylock, Microsoft and Reid Hoffman.

Last week, it released a report on its model Inflection-1, which powers Pi, and claims it has outperformed most models available.

Most of the funding will be used to build computing power to develop a more powerful foundation model, according to Suleyman, chief executive at Inflection.

"We'll be building a cluster of around 22,000 H100s. This is approximately three times more compute than what was used to train all of GPT4. Speed and scale are what's going to really enable us to build a differentiated product," Suleyman said at Collision Conference on Thursday.

The AI space has been hailed as the next frontier for technology after OpenAI's bot ChatGPT became a viral sensation late last year.

The industry has drawn several investors in the past few months as corporates examine ways to integrate the technology into their businesses, while regulators have been mulling over how to tackle the technology.

Microsoft, an existing investor and also backer of rival OpenAI, participated in Inflection's latest fundraise.

Nvidia, which has stepped up its AI investments recently, Hoffman, Bill Gates and former Google CEO Eric Schmidt also participated in the latest round, Inflection said.

© Thomson Reuters 2023

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Gadgets 360

Edtech major Byju's is growing slowly but sustainably and is close to achieving profitability at the group level, the company's CEO Byju Raveendran said on Thursday.

The company organised a town hall with Raveendran to allay apprehensions about the uncertainty around the company's growth and its future.

According to sources, who attended the town hall, Raveendran said that issues with $1.2 billion (nearly Rs. 9,852 crore) Term Loan B lenders are being resolved through discussion and hopeful of a positive outcome in the next few weeks without the court's intervention.

"Byju shared that Byju's is close to achieving profitability at the group level, demonstrating the company's commitment to financial management and optimization of operations," a source said.

He said that despite the challenges faced by tech companies globally, Byju's has made substantial progress towards this significant milestone.

Byju's had set a timeline to achieve profitability by March 2023.

"He said that Byju's is now growing slowly but sustainably and most of its business verticals are in good shape, relatively speaking," the source said.

Several reports have emerged around Byju's financial performance, debt burden, delay in filing financial results and the latest being investor in the firm Prosus lowering valuation in the firm for 9.6 percent stake.

Prosus' 9.6 percent stake value pegs the edtech firm's valuation at around $6 billion (nearly Rs. 49,260 crore) instead of $22 billion (nearly Rs. 1,80,600 crore) claimed by Byju's.

Amid all the controversies, a Delaware Court recently passed an order in favour of Byju's giving the company a significant boost in its fight against various controversies.

"Byju shared an important update that the TLB dispute is being resolved through constructive discussions, and the company is confident about achieving a positive outcome in the next few weeks without court intervention," another source said.

Raveendran said that constructive discussion with lenders signifies the company's ability to navigate challenges and find solutions through proactive engagement.

The CEO clarified to employees about the director's and auditor Deloitte's resignation.

"Byju highlighted the strategic decision to appoint BDO as Byju's statutory auditors for the next five years which led to Deloitte's exit. He said that a mutually agreed-upon decision has been taken to focus on efficient and timely audits going forward," the source said.

Raveendran during the town hall said that the company is now actively expanding and diversifying its board to reflect the scale, scope, and reach of operations, which is a routine practice for large companies.

He touched upon concerns around the viability of edtech as an industry.

He said that edtech is not a 'pandemic phenomenon' but a permanent fixture in education.

"Byju reassured that Byju's has weathered storms before and emerged stronger. He exhorted his team to “rise above the noise” and work with the resilience and determination that is found in the DNA of BYJU'S," the source said.

Another source claimed that employees did not ask any questions about lay-offs and provident fund deposits.

"Raveendran said that the company has been under crisis multiple times and has come out stronger. So they will come out stronger this time too," the source said.

An email query sent to Byju's elicited no reply. 

---

Is the Xiaomi Pad 6 the best Android tablet you can buy under Rs. 30,000 in India? We discuss the company's latest mid-range tablet on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/BMotvO7

Edtech major Byju's is growing slowly but sustainably and is close to achieving profitability at the group level, the company's CEO Byju Raveendran said on Thursday.

The company organised a town hall with Raveendran to allay apprehensions about the uncertainty around the company's growth and its future.

According to sources, who attended the town hall, Raveendran said that issues with $1.2 billion (nearly Rs. 9,852 crore) Term Loan B lenders are being resolved through discussion and hopeful of a positive outcome in the next few weeks without the court's intervention.

"Byju shared that Byju's is close to achieving profitability at the group level, demonstrating the company's commitment to financial management and optimization of operations," a source said.

He said that despite the challenges faced by tech companies globally, Byju's has made substantial progress towards this significant milestone.

Byju's had set a timeline to achieve profitability by March 2023.

"He said that Byju's is now growing slowly but sustainably and most of its business verticals are in good shape, relatively speaking," the source said.

Several reports have emerged around Byju's financial performance, debt burden, delay in filing financial results and the latest being investor in the firm Prosus lowering valuation in the firm for 9.6 percent stake.

Prosus' 9.6 percent stake value pegs the edtech firm's valuation at around $6 billion (nearly Rs. 49,260 crore) instead of $22 billion (nearly Rs. 1,80,600 crore) claimed by Byju's.

Amid all the controversies, a Delaware Court recently passed an order in favour of Byju's giving the company a significant boost in its fight against various controversies.

"Byju shared an important update that the TLB dispute is being resolved through constructive discussions, and the company is confident about achieving a positive outcome in the next few weeks without court intervention," another source said.

Raveendran said that constructive discussion with lenders signifies the company's ability to navigate challenges and find solutions through proactive engagement.

The CEO clarified to employees about the director's and auditor Deloitte's resignation.

"Byju highlighted the strategic decision to appoint BDO as Byju's statutory auditors for the next five years which led to Deloitte's exit. He said that a mutually agreed-upon decision has been taken to focus on efficient and timely audits going forward," the source said.

Raveendran during the town hall said that the company is now actively expanding and diversifying its board to reflect the scale, scope, and reach of operations, which is a routine practice for large companies.

He touched upon concerns around the viability of edtech as an industry.

He said that edtech is not a 'pandemic phenomenon' but a permanent fixture in education.

"Byju reassured that Byju's has weathered storms before and emerged stronger. He exhorted his team to “rise above the noise” and work with the resilience and determination that is found in the DNA of BYJU'S," the source said.

Another source claimed that employees did not ask any questions about lay-offs and provident fund deposits.

"Raveendran said that the company has been under crisis multiple times and has come out stronger. So they will come out stronger this time too," the source said.

An email query sent to Byju's elicited no reply. 

---

Is the Xiaomi Pad 6 the best Android tablet you can buy under Rs. 30,000 in India? We discuss the company's latest mid-range tablet on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Gadgets 360

Two US authors sued OpenAI in San Francisco federal court on Wednesday, claiming in a proposed class action that the company misused their works to "train" its popular generative artificial-intelligence system ChatGPT.

Massachusetts-based writers Paul Tremblay and Mona Awad said ChatGPT mined data copied from thousands of books without permission, infringing the authors' copyrights.

Matthew Butterick, an attorney for the authors, declined to comment. Representatives for OpenAI, a private company backed by Microsoft, did not immediately respond to a request for comment.

Several legal challenges have been filed over material used to train cutting-edge AI systems. Plaintiffs include source-code owners against OpenAI and Microsoft's GitHub, and visual artists against Stability AI, Midjourney and DeviantArt.

The lawsuit targets have argued that their systems make fair use of copyrighted work.

ChatGPT responds to users' text prompts in a conversational way. It became the fastest-growing consumer application in history earlier this year, reaching 100 million active users in January only two months after it was launched.

ChatGPT and other generative AI systems create content using large amounts of data scraped from the internet. Tremblay and Awad's lawsuit said books are a "key ingredient" because they offer the "best examples of high-quality longform writing."

The complaint estimated that OpenAI's training data incorporated over 300,000 books, including from illegal "shadow libraries" that offer copyrighted books without permission.

Awad is known for novels including '13 Ways of Looking at a Fat Girl' and 'Bunny'. Tremblay's novels include 'The Cabin at the End of the World', which was adapted in the M. Night Shyamalan film 'Knock at the Cabin' released in February.

Tremblay and Awad said ChatGPT could generate "very accurate" summaries of their books, indicating that they appeared in its database.

The lawsuit seeks an unspecified amount of money damages on behalf of a nationwide class of copyright owners whose works OpenAI allegedly misused.

© Thomson Reuters 2023

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/IlCj9v0

Two US authors sued OpenAI in San Francisco federal court on Wednesday, claiming in a proposed class action that the company misused their works to "train" its popular generative artificial-intelligence system ChatGPT.

Massachusetts-based writers Paul Tremblay and Mona Awad said ChatGPT mined data copied from thousands of books without permission, infringing the authors' copyrights.

Matthew Butterick, an attorney for the authors, declined to comment. Representatives for OpenAI, a private company backed by Microsoft, did not immediately respond to a request for comment.

Several legal challenges have been filed over material used to train cutting-edge AI systems. Plaintiffs include source-code owners against OpenAI and Microsoft's GitHub, and visual artists against Stability AI, Midjourney and DeviantArt.

The lawsuit targets have argued that their systems make fair use of copyrighted work.

ChatGPT responds to users' text prompts in a conversational way. It became the fastest-growing consumer application in history earlier this year, reaching 100 million active users in January only two months after it was launched.

ChatGPT and other generative AI systems create content using large amounts of data scraped from the internet. Tremblay and Awad's lawsuit said books are a "key ingredient" because they offer the "best examples of high-quality longform writing."

The complaint estimated that OpenAI's training data incorporated over 300,000 books, including from illegal "shadow libraries" that offer copyrighted books without permission.

Awad is known for novels including '13 Ways of Looking at a Fat Girl' and 'Bunny'. Tremblay's novels include 'The Cabin at the End of the World', which was adapted in the M. Night Shyamalan film 'Knock at the Cabin' released in February.

Tremblay and Awad said ChatGPT could generate "very accurate" summaries of their books, indicating that they appeared in its database.

The lawsuit seeks an unspecified amount of money damages on behalf of a nationwide class of copyright owners whose works OpenAI allegedly misused.

© Thomson Reuters 2023

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

BJP reshuffle on the cards? Top brass conducts late night marathon meet at PM Modi's residence

Senior BJP leaders, including PM Modi, Amit Shah, and JP Nadda, held a meeting to discuss strategy for the 2024 Lok Sabha elections. Speculation of a party reshuffle was also discussed.

from mint - politics Senior BJP leaders, including PM Modi, Amit Shah, and JP Nadda, held a meeting to discuss strategy for the 2024 Lok Sabha elections. Speculation of a party reshuffle was also discussed.

Gadgets 360

The Indian government met large global firms such as Foxconn, Samsung Electronics and Reliance Industries to find ways to boost manufacturing in the country with its production-linked incentive (PLI) scheme.

The meeting, addressed by India's Trade Minister Piyush Goyal on Tuesday, comes amid concerns that some of the businesses were facing delays in availing the incentives from New Delhi amid complicated procedures.

The discussions included ways to improve local manufacturing at competitive costs, higher domestic value-adds in production, and quick grievance redressal, the government said in a statement on Wednesday.

The meeting was also attended by executives from iPhone maker Wistron, laptop maker Dell, telecommunications firm Nokia Solutions and others that benefited from the scheme's incentive payouts.

The PLI scheme, introduced in late 2020, is Prime Minister Narendra Modi's main industrial policy to boost manufacturing.

The government has so far announced incentives for 14 sectors including electronics and technology products, pharmaceutical drugs, and drones, among others, drawing investments totalling Rs. 625 billion until March 2023, per the statement.

Investments under the PLI scheme are expected to rise further to Rs. 2.74 trillion as it runs its course, according to government estimates.

With more than Rs. 1.97 trillion earmarked for incentives, payouts totalled Rs. 29 billion until fiscal 2023 across eight industries.

© Thomson Reuters 2023

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/WVzSRPp

The Indian government met large global firms such as Foxconn, Samsung Electronics and Reliance Industries to find ways to boost manufacturing in the country with its production-linked incentive (PLI) scheme.

The meeting, addressed by India's Trade Minister Piyush Goyal on Tuesday, comes amid concerns that some of the businesses were facing delays in availing the incentives from New Delhi amid complicated procedures.

The discussions included ways to improve local manufacturing at competitive costs, higher domestic value-adds in production, and quick grievance redressal, the government said in a statement on Wednesday.

The meeting was also attended by executives from iPhone maker Wistron, laptop maker Dell, telecommunications firm Nokia Solutions and others that benefited from the scheme's incentive payouts.

The PLI scheme, introduced in late 2020, is Prime Minister Narendra Modi's main industrial policy to boost manufacturing.

The government has so far announced incentives for 14 sectors including electronics and technology products, pharmaceutical drugs, and drones, among others, drawing investments totalling Rs. 625 billion until March 2023, per the statement.

Investments under the PLI scheme are expected to rise further to Rs. 2.74 trillion as it runs its course, according to government estimates.

With more than Rs. 1.97 trillion earmarked for incentives, payouts totalled Rs. 29 billion until fiscal 2023 across eight industries.

© Thomson Reuters 2023

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Gadgets 360

Activision Blizzard said its studio that developed Call of Duty would set up shop in Barcelona, putting into action its pledge to invest in Europe after Brussels approved Microsoft's $69 billion (nearly Rs. 5,66,000 crore) acquisition of the company in May.

The US company said on Wednesday its game developer Infinity Ward, which created the blockbuster first-person shooter game, would join its Digital Legends mobile games unit in the Spanish city.

The decision comes after Britain blocked the Microsoft takeover, prompting Activision, which has studios in Guildford and Warrington in England, to say it would "reassess" its growth plans in the country.

In contrast, it said it would "meaningfully expand" its investment and workforce in the European Union after the deal received the green light there.

Microsoft and Activision Blizzard are battling antitrust regulators on both sides of the Atlantic to clinch the deal, the biggest ever in video gaming.

Activision Blizzard CEO Bobby Kotick and his Microsoft counterpart Satya Nadella are due to testify in a court in San Francisco on Wednesday to urge a judge to allow the merger.

The Federal Trade Commission, which is seeking to block the deal, wants the transaction temporarily stopped in order to allow the agency's in-house judge to decide the case.

Microsoft is appealing the British veto with the "aggressive" support of Activision.

The games company, which also owns the Candy Crush Saga and World of Warcraft franchises, said in April that Britain was "clearly closed for business" after the deal was blocked.

It said on Wednesday it was looking closely at the EU to enlarge its studio footprint.

"For good reason: Europe has played a key role in the evolution of gaming — particularly mobile gaming — across the globe and it's not unreasonable to expect developers on the continent to maintain that momentum thanks to ample skills, ambition, and government support," it said in a blog post.

© Thomson Reuters 2023

---

What are the most exciting titles that gamers can look forward to in 2023? We discuss some of our favourites on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/ywfzNPU

Activision Blizzard said its studio that developed Call of Duty would set up shop in Barcelona, putting into action its pledge to invest in Europe after Brussels approved Microsoft's $69 billion (nearly Rs. 5,66,000 crore) acquisition of the company in May.

The US company said on Wednesday its game developer Infinity Ward, which created the blockbuster first-person shooter game, would join its Digital Legends mobile games unit in the Spanish city.

The decision comes after Britain blocked the Microsoft takeover, prompting Activision, which has studios in Guildford and Warrington in England, to say it would "reassess" its growth plans in the country.

In contrast, it said it would "meaningfully expand" its investment and workforce in the European Union after the deal received the green light there.

Microsoft and Activision Blizzard are battling antitrust regulators on both sides of the Atlantic to clinch the deal, the biggest ever in video gaming.

Activision Blizzard CEO Bobby Kotick and his Microsoft counterpart Satya Nadella are due to testify in a court in San Francisco on Wednesday to urge a judge to allow the merger.

The Federal Trade Commission, which is seeking to block the deal, wants the transaction temporarily stopped in order to allow the agency's in-house judge to decide the case.

Microsoft is appealing the British veto with the "aggressive" support of Activision.

The games company, which also owns the Candy Crush Saga and World of Warcraft franchises, said in April that Britain was "clearly closed for business" after the deal was blocked.

It said on Wednesday it was looking closely at the EU to enlarge its studio footprint.

"For good reason: Europe has played a key role in the evolution of gaming — particularly mobile gaming — across the globe and it's not unreasonable to expect developers on the continent to maintain that momentum thanks to ample skills, ambition, and government support," it said in a blog post.

© Thomson Reuters 2023

---

What are the most exciting titles that gamers can look forward to in 2023? We discuss some of our favourites on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Gadgets 360

Shares of US chipmakers fell on Wednesday following a report that the Biden administration was planning new curbs on export of computing chips for artificial intelligence to China as early as July.

Companies such as Nvidia, Advanced Micro Devices and Intel, which rely on the world's second largest economy for at least a fifth of their revenue, fell between 0.8 percent and 1.8 percent, caught in the US-China crossfire.

The Philadelphia chip index dropped 0.9 percent.

Last year, US officials had ordered Nvidia to stop exporting its top two AI chips to China to limit the country's technological capability.

Months later, Nvidia launched a new advanced chip called A800 in China to meet export control rules.

The new restrictions being considered by the Commerce Department would also include a ban on the sale of Nvidia's A800 chip without a special US export license, the Wall Street Journal report said.

Curbs on sales of datacenter graphics processing units to China would impact future financial results, Nvidia's finance chief Colette Kress said on Wednesday. However, the company does not expect the additional restrictions to have an immediate material impact on its results.

"With an update on export controls now expected, investors will assess just how limiting the new rules will be for chip makers' sales," said Susannah Streeter, head of money and markets, Hargreaves Lansdown.

"A handful of tech companies pack a huge punch on Wall Street due to their sheer size, so any wobble in confidence reverberates on indices."

Rising expectations over the advancements in AI have helped Wall Street climb this year, with Nvidia at the pole position on the S&P 500 index, gaining 187 percent so far this year.

But the sharp rise in shares has also sparked doubts over lofty valuations.

Nvidia is trading at 47 times its expected 12-months earnings, while AMD is at a 31.2 multiple and Intel at 31.8, way above the S&P 500's multiple at 19, according to Refinitiv data.

The Philadelphia chip index has surged more than 44 percent so far this year, far ahead of the benchmark index's 14 percent rise.

Across the Atlantic, Nordic Semiconductor, Dutch chipmaker ASML, Milan-listed STMicroelectronics, however, closed between 2.3 percent and 6.4 percent higher.

© Thomson Reuters 2023

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/UOmZ0oB

Shares of US chipmakers fell on Wednesday following a report that the Biden administration was planning new curbs on export of computing chips for artificial intelligence to China as early as July.

Companies such as Nvidia, Advanced Micro Devices and Intel, which rely on the world's second largest economy for at least a fifth of their revenue, fell between 0.8 percent and 1.8 percent, caught in the US-China crossfire.

The Philadelphia chip index dropped 0.9 percent.

Last year, US officials had ordered Nvidia to stop exporting its top two AI chips to China to limit the country's technological capability.

Months later, Nvidia launched a new advanced chip called A800 in China to meet export control rules.

The new restrictions being considered by the Commerce Department would also include a ban on the sale of Nvidia's A800 chip without a special US export license, the Wall Street Journal report said.

Curbs on sales of datacenter graphics processing units to China would impact future financial results, Nvidia's finance chief Colette Kress said on Wednesday. However, the company does not expect the additional restrictions to have an immediate material impact on its results.

"With an update on export controls now expected, investors will assess just how limiting the new rules will be for chip makers' sales," said Susannah Streeter, head of money and markets, Hargreaves Lansdown.

"A handful of tech companies pack a huge punch on Wall Street due to their sheer size, so any wobble in confidence reverberates on indices."

Rising expectations over the advancements in AI have helped Wall Street climb this year, with Nvidia at the pole position on the S&P 500 index, gaining 187 percent so far this year.

But the sharp rise in shares has also sparked doubts over lofty valuations.

Nvidia is trading at 47 times its expected 12-months earnings, while AMD is at a 31.2 multiple and Intel at 31.8, way above the S&P 500's multiple at 19, according to Refinitiv data.

The Philadelphia chip index has surged more than 44 percent so far this year, far ahead of the benchmark index's 14 percent rise.

Across the Atlantic, Nordic Semiconductor, Dutch chipmaker ASML, Milan-listed STMicroelectronics, however, closed between 2.3 percent and 6.4 percent higher.

© Thomson Reuters 2023

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Gadgets 360

Tata Communications will acquire US-based enterprise messaging firm Kaleyra for about $100 million (nearly Rs. 820 crore) in an all-cash deal, the company said on Wednesday.

With operations in over 190 countries, Kaleyra provides integrated communication services with a set of proprietary platforms, offering targeted personalisation through messaging, video, push notifications, e-mail and voice-based services and chatbots.

"Tata Communications has agreed to acquire Kaleyra, Inc in a cash-only transaction, for a total consideration to Kaleyra shareholders of approximately $100 million and the assumption of all outstanding debt," Tata Communications said in a statement.

With this transaction, Tata Communications will gain an industry-proven platform with strong capabilities and scale, the statement said.

"Upon closing of the transaction, expected in six to nine months, Kaleyra Inc will become a subsidiary of Tata Communications Limited," the statement said.

Kaleyra claims to have a strong presence in the business communications market in banking and financial services, retail and digital commerce industries across global markets, in addition to a team with expertise in technology, engineering and research and development.

Tata Communications will also benefit from Tier 1 carrier connections in the US, ready connectors to third-party platforms, and video services without the need for additional software plug-ins, the statement said.

"We are excited about Kaleyra's remarkable talent and their demonstrated capabilities in next-gen technologies. With this acquisition, we will further build intelligent, intuitive and innovative multi-channel communication solutions to unlock new growth opportunities for our customers," Tata Communications MD and CEO AS Lakshminarayanan said.

The resulting business will leverage Tata Communications' large base of enterprise customers worldwide, including 300 Fortune 500 companies, mobile network operator (MNO) connections and global expansion opportunities.

For the full year ended December 31, 2022, Kaleyra reported revenue of $339.2 million nearly Rs. 2,780 crore).

"When we launched Kaleyra 24 years ago with my co-founder Simone Fubini, I could hardly envision that our voyage would take us from a small Italian startup to global expansion, a publicly listed NYSE company, and now working together with a great technology leader like Tata Communications. This is a great day for Kaleyra and our shareholders and our employees worldwide," Kaleyra founder and CEO Dario Calogero said. 

---

Is the Xiaomi Pad 6 the best Android tablet you can buy under Rs. 30,000 in India? We discuss the company's latest mid-range tablet on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/VepKy1q

Tata Communications will acquire US-based enterprise messaging firm Kaleyra for about $100 million (nearly Rs. 820 crore) in an all-cash deal, the company said on Wednesday.

With operations in over 190 countries, Kaleyra provides integrated communication services with a set of proprietary platforms, offering targeted personalisation through messaging, video, push notifications, e-mail and voice-based services and chatbots.

"Tata Communications has agreed to acquire Kaleyra, Inc in a cash-only transaction, for a total consideration to Kaleyra shareholders of approximately $100 million and the assumption of all outstanding debt," Tata Communications said in a statement.

With this transaction, Tata Communications will gain an industry-proven platform with strong capabilities and scale, the statement said.

"Upon closing of the transaction, expected in six to nine months, Kaleyra Inc will become a subsidiary of Tata Communications Limited," the statement said.

Kaleyra claims to have a strong presence in the business communications market in banking and financial services, retail and digital commerce industries across global markets, in addition to a team with expertise in technology, engineering and research and development.

Tata Communications will also benefit from Tier 1 carrier connections in the US, ready connectors to third-party platforms, and video services without the need for additional software plug-ins, the statement said.

"We are excited about Kaleyra's remarkable talent and their demonstrated capabilities in next-gen technologies. With this acquisition, we will further build intelligent, intuitive and innovative multi-channel communication solutions to unlock new growth opportunities for our customers," Tata Communications MD and CEO AS Lakshminarayanan said.

The resulting business will leverage Tata Communications' large base of enterprise customers worldwide, including 300 Fortune 500 companies, mobile network operator (MNO) connections and global expansion opportunities.

For the full year ended December 31, 2022, Kaleyra reported revenue of $339.2 million nearly Rs. 2,780 crore).

"When we launched Kaleyra 24 years ago with my co-founder Simone Fubini, I could hardly envision that our voyage would take us from a small Italian startup to global expansion, a publicly listed NYSE company, and now working together with a great technology leader like Tata Communications. This is a great day for Kaleyra and our shareholders and our employees worldwide," Kaleyra founder and CEO Dario Calogero said. 

---

Is the Xiaomi Pad 6 the best Android tablet you can buy under Rs. 30,000 in India? We discuss the company's latest mid-range tablet on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

TS Singh Deo to be Chhattisgarhs deputy chief minister

Congress president Mallikarjun Kharge has approved the proposal for the appointment of Singh Deo as the deputy chief minister in Chhattisgarh

from mint - politics Congress president Mallikarjun Kharge has approved the proposal for the appointment of Singh Deo as the deputy chief minister in Chhattisgarh

Gadgets 360

US Federal Trade Commission Chair Lina Khan is set to testify on July 13 before the House Judiciary Committee led by Republicans who have sharply criticized her leadership of the antitrust enforcement agency, the committee, and commission confirmed on Friday.

This will be her first appearance before the committee since Republicans assumed control.

Republicans have been especially critical of the FTC's privacy investigation into Twitter since it was purchased by billionaire Tesla CEO Elon Musk.

In March, the FTC confirmed it was conducting an investigation into Twitter's privacy practices. The agency has been concerned whether Twitter had the staffing to abide by a May 2022 settlement with the FTC in which it agreed to improve its privacy practices.

In April, the committee subpoenaed Khan for documents related to the Twitter privacy probe following Musk's $44 billion (roughly Rs. 3,61,687 crore) purchase of the social media company in October.

House Judiciary Committee chair Jim Jordan suggested in a June 8 letter "there is an unjustified approximate one-year gap in the FTC's actions with respect to Twitter" and added it was reasonable to conclude neither the prior chair nor Khan "seriously planned to take action against Twitter "until political pressure arose given Mr. Musk's impending acquisition."

Jordan in February also questioned the FTC's plans to adopt a new rule to ban noncompete clauses for workers and its approach to the merger of Illumina and Grail.

San Diego-based Illumina, which specializes in gene sequencing, is appealing an FTC order that said the company's $7.1 billion (roughly Rs. 58,200,830 crore) acquisition of Grail will curb competition in the cancer-testing market. Illumina has denied the allegations.

The FTC, which typically has five commissions including two from the minority party, currently has just three Democratic commissioners after Christine Wilson stepped down at the end of March.

Khan, an antitrust researcher focused on Big Tech's immense market power, vowed to reinvigorate antitrust enforcement after she joined the FTC in June 2021 and was named chair.

This week the FTC sued Amazon.com accusing it of enrolling millions of consumers into its paid subscription Amazon Prime service without their consent and making it hard for them to cancel.

Politico first reported the plans for the hearing. 

© Thomson Reuters 2023 

---

What are the most exciting titles that gamers can look forward to in 2023? We discuss some of our favourites on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/d5HmUSq

US Federal Trade Commission Chair Lina Khan is set to testify on July 13 before the House Judiciary Committee led by Republicans who have sharply criticized her leadership of the antitrust enforcement agency, the committee, and commission confirmed on Friday.

This will be her first appearance before the committee since Republicans assumed control.

Republicans have been especially critical of the FTC's privacy investigation into Twitter since it was purchased by billionaire Tesla CEO Elon Musk.

In March, the FTC confirmed it was conducting an investigation into Twitter's privacy practices. The agency has been concerned whether Twitter had the staffing to abide by a May 2022 settlement with the FTC in which it agreed to improve its privacy practices.

In April, the committee subpoenaed Khan for documents related to the Twitter privacy probe following Musk's $44 billion (roughly Rs. 3,61,687 crore) purchase of the social media company in October.

House Judiciary Committee chair Jim Jordan suggested in a June 8 letter "there is an unjustified approximate one-year gap in the FTC's actions with respect to Twitter" and added it was reasonable to conclude neither the prior chair nor Khan "seriously planned to take action against Twitter "until political pressure arose given Mr. Musk's impending acquisition."

Jordan in February also questioned the FTC's plans to adopt a new rule to ban noncompete clauses for workers and its approach to the merger of Illumina and Grail.

San Diego-based Illumina, which specializes in gene sequencing, is appealing an FTC order that said the company's $7.1 billion (roughly Rs. 58,200,830 crore) acquisition of Grail will curb competition in the cancer-testing market. Illumina has denied the allegations.

The FTC, which typically has five commissions including two from the minority party, currently has just three Democratic commissioners after Christine Wilson stepped down at the end of March.

Khan, an antitrust researcher focused on Big Tech's immense market power, vowed to reinvigorate antitrust enforcement after she joined the FTC in June 2021 and was named chair.

This week the FTC sued Amazon.com accusing it of enrolling millions of consumers into its paid subscription Amazon Prime service without their consent and making it hard for them to cancel.

Politico first reported the plans for the hearing. 

© Thomson Reuters 2023 

---

What are the most exciting titles that gamers can look forward to in 2023? We discuss some of our favourites on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Gadgets 360

Apple on Wednesday released the visionOS SDK, a set of tools that will enable developers to build apps for the Apple Vision Pro mixed reality headset. The Cupertino company's first spatial computer will go on sale in the US next year and Apple is providing app developers with the tools required to build apps for the device. Unlike other Apple products, the company's upcoming mixed reality headset will use a combination of three different modes of interaction using a person's eyes, hands, and voice. The visionOS SDK will allow developers to tailor their apps around this functionality while making use of the specialised hardware on the device.  

The company announced on the Apple Developer website that the visionOS SDK is now available to developers. In order to create spatial computing apps for the Apple Vision Pro, developers will have to download Xcode 15 Beta 2 that includes the latest visionOS SDK along with a tool to visualise and preview 3D content for the headset called Reality Composer Pro.

Developers will be able to use a simulator for visionOS, which will let them interact with their apps as they are built, while also testing how they will appear in different lighting conditions or in a variety of room layouts, according to Apple. The SDK will let users port an existing app project for the headset, or allow them to create a new application from the ground up.

Apple's visionOS will allow developers to display apps on a large canvas
Photo Credit: Apple

 

Apple also stated that it will open labs where developers can test their apps on the Apple Vision Pro, starting in July. These developer labs will be set up in Cupertino, London, Munich, Shanghai, Singapore, and Tokyo. The company's engineers will also be available to provide support to developers looking to create applications for the Vision Pro headset.

Meanwhile, the company will also open up applications for Apple Vision Pro developer kits. Instead of testing at the company's developer labs, these kits will allow app creators to build their apps and test them at a faster rate on the mixed reality headset. However, there's no word from Apple on whether these developer kits will only be available to developers in the US, or the criteria for applying to receive these kits.

Announced by Apple at WWDC 2023 earlier this month, the Apple Vision Pro is the firm's first mixed reality headset that supports both augmented reality (AR) and virtual reality (VR) technologies. It is controlled with a user's hands, voice, and eyes. The device also features Apple's EyeSight technology allowing a user to be aware of their surroundings. Apple's Vision Pro will also feature support for optical inserts for users who require vision correction, and the prescription lenses will be available when the headset goes on sale in the US next year.  

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/RBJ8upC

Apple on Wednesday released the visionOS SDK, a set of tools that will enable developers to build apps for the Apple Vision Pro mixed reality headset. The Cupertino company's first spatial computer will go on sale in the US next year and Apple is providing app developers with the tools required to build apps for the device. Unlike other Apple products, the company's upcoming mixed reality headset will use a combination of three different modes of interaction using a person's eyes, hands, and voice. The visionOS SDK will allow developers to tailor their apps around this functionality while making use of the specialised hardware on the device.  

The company announced on the Apple Developer website that the visionOS SDK is now available to developers. In order to create spatial computing apps for the Apple Vision Pro, developers will have to download Xcode 15 Beta 2 that includes the latest visionOS SDK along with a tool to visualise and preview 3D content for the headset called Reality Composer Pro.

Developers will be able to use a simulator for visionOS, which will let them interact with their apps as they are built, while also testing how they will appear in different lighting conditions or in a variety of room layouts, according to Apple. The SDK will let users port an existing app project for the headset, or allow them to create a new application from the ground up.

Apple's visionOS will allow developers to display apps on a large canvas
Photo Credit: Apple

 

Apple also stated that it will open labs where developers can test their apps on the Apple Vision Pro, starting in July. These developer labs will be set up in Cupertino, London, Munich, Shanghai, Singapore, and Tokyo. The company's engineers will also be available to provide support to developers looking to create applications for the Vision Pro headset.

Meanwhile, the company will also open up applications for Apple Vision Pro developer kits. Instead of testing at the company's developer labs, these kits will allow app creators to build their apps and test them at a faster rate on the mixed reality headset. However, there's no word from Apple on whether these developer kits will only be available to developers in the US, or the criteria for applying to receive these kits.

Announced by Apple at WWDC 2023 earlier this month, the Apple Vision Pro is the firm's first mixed reality headset that supports both augmented reality (AR) and virtual reality (VR) technologies. It is controlled with a user's hands, voice, and eyes. The device also features Apple's EyeSight technology allowing a user to be aware of their surroundings. Apple's Vision Pro will also feature support for optical inserts for users who require vision correction, and the prescription lenses will be available when the headset goes on sale in the US next year.  

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Gadgets 360

Certain banks working with FTX founder Sam Bankman-Fried's trading firm Alameda Research raised questions about the firm's wire activity as early as 2020, according to a report released by FTX on Monday.

Some banks began rejecting wires to or from Alameda the same year that the cryptocurrency exchange scrambled to access the US banking system, the report said.

Federal prosecutors have alleged that Bankman-Fried stole billions of dollars in customer funds to plug losses at Alameda. FTX, which filed for bankruptcy in November after Bankman-Fried resigned as CEO, has estimated that approximately $8.7 billion (nearly Rs. 71,300 crore) in customer assets were misappropriated from the exchange.

Bankman-Fried has pleaded not guilty to 13 counts of fraud and conspiracy. He has previously said that when FTX did not have a bank account, some customers wired money to Alameda and were credited on FTX. Bankman-Fried did not immediately respond to a request for comment on the report.

In 2020, certain banks working with Alameda pressed the firm on its wire transfers, according to the report.

One bank representative wrote to Alameda about references to FTX in the company's wire activity and asked whether the account was being used to settle trades on FTX. An Alameda employee responded that while customers "occasionally confuse FTX and Alameda," all wires through the account were to settle trades with Alameda, according to the report.

The Alameda employee's response was false, FTX said on Monday. In 2020 alone, one of Alameda's accounts received more than $250 billion (nearly Rs. 20,49,900 crore) in deposits from FTX customers and more than $4 billion (nearly Rs. 32,800 crore) from other Alameda accounts that were funded in part by customer deposits, the report said.

Bankman-Fried, a 31-year-old former billionaire, rode a boom in digital assets to accumulate an estimated net worth of $26 billion (nearly Rs. 2,13,200 crore), and became an influential political and philanthropic donor before FTX declared bankruptcy.

© Thomson Reuters 2023

---

Will crypto tax hurt the industry in India? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/7yXiOSD

Certain banks working with FTX founder Sam Bankman-Fried's trading firm Alameda Research raised questions about the firm's wire activity as early as 2020, according to a report released by FTX on Monday.

Some banks began rejecting wires to or from Alameda the same year that the cryptocurrency exchange scrambled to access the US banking system, the report said.

Federal prosecutors have alleged that Bankman-Fried stole billions of dollars in customer funds to plug losses at Alameda. FTX, which filed for bankruptcy in November after Bankman-Fried resigned as CEO, has estimated that approximately $8.7 billion (nearly Rs. 71,300 crore) in customer assets were misappropriated from the exchange.

Bankman-Fried has pleaded not guilty to 13 counts of fraud and conspiracy. He has previously said that when FTX did not have a bank account, some customers wired money to Alameda and were credited on FTX. Bankman-Fried did not immediately respond to a request for comment on the report.

In 2020, certain banks working with Alameda pressed the firm on its wire transfers, according to the report.

One bank representative wrote to Alameda about references to FTX in the company's wire activity and asked whether the account was being used to settle trades on FTX. An Alameda employee responded that while customers "occasionally confuse FTX and Alameda," all wires through the account were to settle trades with Alameda, according to the report.

The Alameda employee's response was false, FTX said on Monday. In 2020 alone, one of Alameda's accounts received more than $250 billion (nearly Rs. 20,49,900 crore) in deposits from FTX customers and more than $4 billion (nearly Rs. 32,800 crore) from other Alameda accounts that were funded in part by customer deposits, the report said.

Bankman-Fried, a 31-year-old former billionaire, rode a boom in digital assets to accumulate an estimated net worth of $26 billion (nearly Rs. 2,13,200 crore), and became an influential political and philanthropic donor before FTX declared bankruptcy.

© Thomson Reuters 2023

---

Will crypto tax hurt the industry in India? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Gadgets 360

Meta Platforms plans to cut off access to news on Facebook and Instagram for all users in Canada once a new law requiring internet giants to pay news publishers takes effect, arguing news has no economic value to the company and that its users do not use the platform for news.

Canada drafted new rules after legacy media companies complained about internet companies elbowing news businesses out of the online advertising market.

Why are technology companies against the law? 

The Canadian parliament passed "Bill C-18" into law, requiring internet giants to pay news publishers.

The Online News Act forces platforms like Facebook and Alphabet's Google to negotiate commercial deals and pay news publishers for their content.

Both Meta and Google had warned they would withdraw access to news articles on their platforms in Canada if the legislation is passed into law without amendments. Facebook says links to news articles make up less than 3 percent of the content on its users' feed, and that journalists benefit from posting their work on the social media platform.

Google has argued Canada's law is broader than those enacted in Australia and Europe, and puts a price on news story links displayed in search results and can apply to outlets that do not produce news.

Google proposed that the bill be revised to make the displaying of news content, rather than links, as the basis for payment and to specify that only businesses that produce news and adhere to journalistic standards are eligible to receive payments.

What happened when similar rules were passed in Australia?

Google and Facebook had also threatened to curtail their services after Australia became the first nation to enact similar laws in 2021. Eventually both struck deals with Australian media companies after amendments were made to the legislation.

During the fight, Facebook blacked out Australian news pages and only restored them once the government granted concessions.

Yet in the year following the law taking effect, Meta and Google have paid some AUD 200 million (nearly Rs. 1,100 crore) annually to Australian news outlets, according to a report from the former chair of Australia's competition regulator.

What could the global impact be?

Lawmakers are pushing for similar rules in Meta's home state of California and in the US Congress. Meta says it makes 40 percent of its revenue in the US and lists Australia and Canada among its most significant markets. If Meta fails to secure exemptions or get the rules changed in Canada, the tech giant may face a similar fate in the United States.

In 2022, US lawmakers released a revised version of a bill aimed at making it easier for news organizations to negotiate collectively with platforms like Google and Facebook.

The New Zealand government said in 2022 it would introduce a law requiring big online digital companies to pay New Zealand media companies for the local news content that appears on their feeds.

© Thomson Reuters 2023

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/shJyXUI

Meta Platforms plans to cut off access to news on Facebook and Instagram for all users in Canada once a new law requiring internet giants to pay news publishers takes effect, arguing news has no economic value to the company and that its users do not use the platform for news.

Canada drafted new rules after legacy media companies complained about internet companies elbowing news businesses out of the online advertising market.

Why are technology companies against the law? 

The Canadian parliament passed "Bill C-18" into law, requiring internet giants to pay news publishers.

The Online News Act forces platforms like Facebook and Alphabet's Google to negotiate commercial deals and pay news publishers for their content.

Both Meta and Google had warned they would withdraw access to news articles on their platforms in Canada if the legislation is passed into law without amendments. Facebook says links to news articles make up less than 3 percent of the content on its users' feed, and that journalists benefit from posting their work on the social media platform.

Google has argued Canada's law is broader than those enacted in Australia and Europe, and puts a price on news story links displayed in search results and can apply to outlets that do not produce news.

Google proposed that the bill be revised to make the displaying of news content, rather than links, as the basis for payment and to specify that only businesses that produce news and adhere to journalistic standards are eligible to receive payments.

What happened when similar rules were passed in Australia?

Google and Facebook had also threatened to curtail their services after Australia became the first nation to enact similar laws in 2021. Eventually both struck deals with Australian media companies after amendments were made to the legislation.

During the fight, Facebook blacked out Australian news pages and only restored them once the government granted concessions.

Yet in the year following the law taking effect, Meta and Google have paid some AUD 200 million (nearly Rs. 1,100 crore) annually to Australian news outlets, according to a report from the former chair of Australia's competition regulator.

What could the global impact be?

Lawmakers are pushing for similar rules in Meta's home state of California and in the US Congress. Meta says it makes 40 percent of its revenue in the US and lists Australia and Canada among its most significant markets. If Meta fails to secure exemptions or get the rules changed in Canada, the tech giant may face a similar fate in the United States.

In 2022, US lawmakers released a revised version of a bill aimed at making it easier for news organizations to negotiate collectively with platforms like Google and Facebook.

The New Zealand government said in 2022 it would introduce a law requiring big online digital companies to pay New Zealand media companies for the local news content that appears on their feeds.

© Thomson Reuters 2023

---

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Gadgets 360

Google has urged India's Supreme Court to quash antitrust directives against it for abuse of the Android market, two sources said, as its presses its legal battle against the competition watchdog in one of its most important markets.

The Competition Commission of India (CCI) said in October that Google, whose Android mobile operating system powers 97 percent of the 600 million smartphones in India, had exploited its dominant position.

It ordered Google to remove restrictions imposed on device makers, including those related to the pre-installation of apps, and fined the US firm $163 million (nearly Rs. 1,300 crore), which it paid.

In March, an Indian tribunal gave partial relief to the Alphabet unit by setting aside four of the 10 directives in the case.

The tribunal said CCI's findings of Google's anti-competitive conduct were correct, but gave Google some relief by quashing some of the directives that forced it to alter its business model.

Google is now asking the Supreme Court to quash the remainder of the directives, the first source with direct knowledge said.

Google is also arguing in its filing made on Monday that it has not abused its market position and should not be liable to pay a penalty, the source added.

Google in a statement confirmed the Supreme Court filing, saying that it looked forward to presenting its case and demonstrating how Android benefited users and developers.

The Indian tribunal had ruled authorities must prove harm caused by anti-competitive behaviour "but did not apply this requirement" to several of CCI's Android directives, Google said, explaining the rationale of its latest challenge.

Google's Supreme Court challenge has not been previously reported.

The CCI too has approached the Supreme Court, seeking to reverse the tribunal's decision to give Google partial relief, according to a third source. The CCI did not respond to a request for comment.

Google has been particularly concerned about India's Android decision as the directives were seen as more sweeping than those imposed in the European Commission's landmark 2018 ruling against the operating system.

Google had made sweeping changes to Android in India in recent months following the directive, including allowing device makers to license individual apps for pre-installation.

© Thomson Reuters 2023

---

Google I/O 2023 saw the search giant repeatedly tell us that it cares about AI, alongside the launch of its first foldable phone and Pixel-branded tablet. This year, the company is going to supercharge its apps, services, and Android operating system with AI technology. We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

from Gadgets 360 https://ift.tt/HDRQbUe

Google has urged India's Supreme Court to quash antitrust directives against it for abuse of the Android market, two sources said, as its presses its legal battle against the competition watchdog in one of its most important markets.

The Competition Commission of India (CCI) said in October that Google, whose Android mobile operating system powers 97 percent of the 600 million smartphones in India, had exploited its dominant position.

It ordered Google to remove restrictions imposed on device makers, including those related to the pre-installation of apps, and fined the US firm $163 million (nearly Rs. 1,300 crore), which it paid.

In March, an Indian tribunal gave partial relief to the Alphabet unit by setting aside four of the 10 directives in the case.

The tribunal said CCI's findings of Google's anti-competitive conduct were correct, but gave Google some relief by quashing some of the directives that forced it to alter its business model.

Google is now asking the Supreme Court to quash the remainder of the directives, the first source with direct knowledge said.

Google is also arguing in its filing made on Monday that it has not abused its market position and should not be liable to pay a penalty, the source added.

Google in a statement confirmed the Supreme Court filing, saying that it looked forward to presenting its case and demonstrating how Android benefited users and developers.

The Indian tribunal had ruled authorities must prove harm caused by anti-competitive behaviour "but did not apply this requirement" to several of CCI's Android directives, Google said, explaining the rationale of its latest challenge.

Google's Supreme Court challenge has not been previously reported.

The CCI too has approached the Supreme Court, seeking to reverse the tribunal's decision to give Google partial relief, according to a third source. The CCI did not respond to a request for comment.

Google has been particularly concerned about India's Android decision as the directives were seen as more sweeping than those imposed in the European Commission's landmark 2018 ruling against the operating system.

Google had made sweeping changes to Android in India in recent months following the directive, including allowing device makers to license individual apps for pre-installation.

© Thomson Reuters 2023

---

Google I/O 2023 saw the search giant repeatedly tell us that it cares about AI, alongside the launch of its first foldable phone and Pixel-branded tablet. This year, the company is going to supercharge its apps, services, and Android operating system with AI technology. We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.