Instagram chief Adam Mosseri faced intense questioning in a federal court on August 25 as Meta Platforms defended itself against allegations that its social media platforms were designed in ways that could encourage addictive use among children and teenagers. During his testimony, Mosseri acknowledged that only a small percentage of teenagers were using Instagram’s “Take …
Brazil has imposed a 153.8 million reais fine, equivalent to about $29.8 million, on ByteDance, the Chinese technology company that owns TikTok, over the alleged unlawful processing of personal data belonging to teenagers. The penalty was issued by Brazil’s data protection authority, the Autoridade Nacional de Proteção de Dados, or ANPD, as regulators increase pressure …
Bitcoin climbed above the $80,000 mark on Tuesday, reaching its strongest level in more than three months as weakness in the U.S. dollar and renewed concerns about currency debasement encouraged investors to move toward digital assets. The latest rally reflects a broader shift in market sentiment, with developments in U.S. Treasury policy, bond yields and …
Alibaba was hit hard Aug. 24 after the Chinese tech company announced a $10.2 billion sale of shares to fund its growing artificial intelligence initiatives. One of the company's biggest equity offerings in recent years, the fundraising plan was priced at a hefty discount to its prior market valuation, raising immediate questions regarding shareholder dilution …
Xiaomi is making further strides in its quest to exert more control on the smartphones it manufactures with the introduction of its new chipset, Xring O3. The chip is being created as part of the Chinese smartphone manufacturer's plans to cut down on outside semiconductor suppliers and gain more control of the hardware powering its …
Uber has been fined by the Dutch regulator for suspending or deactivating driver accounts without giving the driver the information or meaningful human involvement required. It is one of the largest fines issued under the EU's General Data Protection Regulation (GDPR) and reflects the increasing regulatory worry about the use of algorithms in decision making, …
OpenAI has announced a significant reduction in developer pricing for its frontier GPT-5.6 Sol model, cutting the cost of using the model through its application programming interface by more than 20%. The move comes as competition in the artificial intelligence industry continues to intensify, with companies such as Anthropic and a growing number of Chinese …
China has launched its largest automotive recall campaign to date, with Tesla and eight other automakers preparing to recall about 4.3 million vehicles over concerns that passengers could struggle to open vehicle doors during emergencies. The campaign highlights growing scrutiny of vehicle safety in China as automakers increasingly rely on electronic controls, software and unconventional …
TikTok and its Chinese parent company ByteDance have agreed to pay $400 million to settle allegations by the U.S. Justice Department that the short video platform failed to properly protect children’s personal information. The settlement brings an important legal dispute over TikTok’s treatment of young users closer to an end, while also placing renewed attention …
As the number of corporate debt issues for the U.S. "AI buildout" has ramped up, bond investors are now pushing back against the flood of debt, and payouts are climbing. Big tech firms like Amazon and Alphabet still enjoy strong credit ratings and cash flow, but the amount of debt is putting pressure on the …
A 15-year-old New Jersey girl has withdrawn her lawsuit against Meta, Google and Snap just weeks before the case was expected to become one of several closely watched trials examining whether social media platforms contribute to serious harm among young users. The decision removes one of the cases selected to test how juries may respond …
As with ChatGPT, it looks like the robotics sector is at a pivotal moment. The progress of robot intelligence is making the field more and more capable of dealing with everyday duties and operating in new environments with fewer human instructions, Unitree founder and CEO Wang Xingxing said Aug. 20. His remarks coincided with increased …
The cryptocurrency stocks were up on Thursday as investors reacted to various causes in U.S. monetary markets and Washington's new emphasis on the regulation of cryptocurrencies. The rally followed the U.S. Treasury Department's announcement that it would expand digital asset bond buybacks to larger durations, and President Donald Trump has urged Congress to pass legislation …
The future of U.S. crypto regulation is increasingly being shaped by federal agencies as Congress struggles to move forward with sweeping digital asset legislation. The stalled Clarity Act has created a regulatory gap that the Securities and Exchange Commission and the Commodity Futures Trading Commission are now expected to address through agency rulemaking and policy …
