DIRS.INFO The most relevant business & tech news

The Competition Commission of India (CCI) ordered Google in October to make a series of changes, such as refraining from agreements that ensure exclusivity of its search services and mandatory pre-installation of its apps. It also told Google to allow third-party app stores to be housed within its Play Store. "There was negative impact over the years, we hope now consumers and device makers use our app more." About 97% of 600 million smartphone devices in India run on Android, according to Counterpoint Research estimates. Naval Chopra, a lawyer at India's Shardul Amarchand Mangaldas, which has challenged Google in courts in the past, said Thursday's court decision was a landmark one.

☆ I'm a stay-at-home dad who makes $20,000 a month through YouTube and email marketing. The first year I only made 13 cents — here's how I scaled up.
▼ + stars: | 2023-01-19 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +8 min

In 2017, I started to research how to make money online and teach myself digital marketing because I wanted to make extra money from home while taking care of my boys. I repurpose my videos on YouTube Shorts, Facebook Reels, Instagram Reels, and TikTok, which brings in additional revenue. Video titles that I've seen success with are related to working from home, how to work remotely, and how to make money online. I also just hired someone to start repurposing all my YouTube videos and turn them into 60-second vertical videos for TikTok, Instagram, and Facebook. YouTube, TikTok, and Facebook all work on algorithms, and they need time to learn about your content so they can show it to the right people.

☆ India antitrust body denies Google's allegation it copied EU's Android order
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

[1/2] A security guard stands outside the Competition Commission of India (CCI) headquarters in New Delhi, India, January 13, 2020. REUTERS/Adnan AbidiJan 19 (Reuters) - India's competition regulator on Thursday denied allegations by Google that investigators copied parts of a European order while ruling against the U.S. firm for abusing the market dominance of its Android platform. "We have not cut, copy and paste," N Venkataraman, a government lawyer representing the Competition Commission of India (CCI), told the top court. The comments came at a hearing in India's Supreme Court, where Google is seeking to block the CCI ruling. Reporting by Aditya Kalra, Arpan Chaturvedi and Munsif Vengattil; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ South Africa energy blackouts: Ramaphosa skips Davos to tackle crisis
▼ + stars: | 2023-01-18 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

London CNN —South Africa’s President Cyril Ramaphosa was forced this week to cancel a trip to Davos by an escalating energy crisis that is inflicting rolling blackouts on the continent’s most developed economy. At peak times, demand in South Africa averages between 28,000 MW and 34,000 MW. Electricity theft, including by impoverished townships in South Africa, and non-payment by municipal customers have made matters worse. Despite an abundance of sunshine and wind, South Africa still derives about 80% of its electricity from coal. South Africa’s National Energy Crisis Committee, a body run out of Ramaphosa’s office, has proposed several measures to ease the crisis in the short term, including importing energy from neighboring countries and buying excess energy from private producers.

☆ FTX says $415 million in crypto was hacked
▼ + stars: | 2023-01-17 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

[1/2] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco BelloJan 17 (Reuters) - Bankrupt crypto exchange FTX said in a report to creditors on Tuesday that about $415 million in cryptocurrency had been stolen as a result of hacks. Some $323 million in crypto had been hacked from FTX's international exchange and $90 million had been hacked from its U.S. exchange since it filed for bankruptcy on Nov. 11, CEO John Ray said in a separate statement on Tuesday. FTX told a bankruptcy judge in Delaware last week that it had recovered over $5 billion in crypto, cash and liquid securities, nine weeks after declaring bankruptcy. The crypto assets recovered to date include $685 million in Solana, $529 million in FTX's proprietary FTT token and $268 million in bitcoin, based on crypto prices on Nov. 11, 2022.

☆ China reports 60,000 COVID-related deaths, says peak passed
▼ + stars: | 2023-01-14 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

BEIJING — China on Saturday reported nearly 60,000 deaths in people who had COVID-19 since early December following complaints it was failing to release data, and said the “emergency peak” of its latest surge appears to have passed. The toll included 5,503 deaths due to respiratory failure caused by COVID-19 and 54,435 fatalities from other ailments combined with COVID-19 since Dec. 8, the National Health Commission announced. The report would more than double China’s official COVID-19 death toll to 10,775 since the disease was first detected in the central city of Wuhan in late 2019. China has counted only deaths from pneumonia or respiratory failure in its official COVID-19 death toll, a narrow definition that excludes many deaths that would be attributed to COVID-19 in other places. “These data show the national emergency peak has passed,” Jiao said at a news conference.

☆ China's COVID fever and emergency hospitalisations have peaked, health official says
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] Patients receive IV drip treatment at a community health service centre, amid the coronavirus disease (COVID-19) outbreak, in Shanghai, China January 9, 2023. cnsphoto via REUTERSSHANGHAI, Jan 14 (Reuters) - COVID fever and emergency hospitalisations have peaked in China and the number of hospitalised COVID patients is continuing to decline, a Chinese health official said on Saturday. Nationwide, "the number of fever clinic visitors is generally in a declining trend after peaking, both in cities and rural areas," Jiao Yahui, an official from the National Health Commission, told a news conference. Jiao said the number of emergency treatment patients was also declining and the ratio of patients who had tested positive for COVID-19 was steadily falling as well. The number of severe cases has also peaked, she added, though remained at a high level, and patients were mostly elderly. Wen Daxiang, a Shanghai Health Commission official, said China would strengthen health monitoring and management of the high-risk population.

☆ Google says India antitrust ruling to drive up costs for app developers
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

Jan 13 (Reuters) - Alphabet Inc's (GOOGL.O) Google said on Friday that India's new antitrust order to change how the company markets its Android platform will drive up costs for app developers, equipment makers, and consequently, consumers. The Competition Commission of India (CCI) in October fined Google $161 million for exploiting its dominant position in Android, and asked it to change restrictions imposed on smartphone makers related to pre-installing apps. Google licenses its Android system to smartphone makers, but critics say that its imposition of restrictions, such as the mandatory pre-installation of its own apps, is anti-competitive. Reuters reported earlier this month that Google warned in a Supreme Court challenge to the order that Android ecosystem's growth in India was on the brink of stalling due to the order. Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

NEW DELHI, Jan 12 (Reuters) - Google has been jolted after the Indian antitrust authority sought changes to how it markets its Android system, which powers 97% of smartphones in the world's second biggest mobile market. * Google should not impose any curbs in India on the practice of "sideloading", or downloading apps without using its app store. * Competitors and app developers should not be denied access to the programming interface of Google Play services, the underlying software system that powers Android devices. This directive is meant to ensure compatibility between apps on Play Store and third-party app stores based on Android variants, the antitrust authority has said. * The CCI asked Google not to restrict makers of Android smartphones from developing other devices, such as tablets or TVs based on modified versions of Android.

The U.S. Commodities Futures Trading Commission has estimated missing customer funds at more than $8 billion. The affiliates -- LedgerX, Embed, FTX Japan and FTX Europe -- are relatively independent from the broader FTX group, and each has its own segregated customer accounts and separate management teams, according to FTX court filings. In part to preserve the value of its businesses, FTX also sought Dorsey's approval to keep secret 9 million FTX customer names. Dorsey allowed the names to remain under wraps for only three months, not six months as FTX wanted. In addition to customer funds lost, the collapse of the company has also likely wiped out equity investors.

The Competition Commission of India (CCI) in October fined Alphabet Inc-owned Google (GOOGL.O) $161 million for exploiting its dominant position in Android, which powers 97% of smartphones in India, and asked it to change restrictions imposed on smartphone makers related to pre-installing apps. "Google will be required to make far-reaching changes to the Android mobile platform which has been in place for the last 14-15 years." Google licenses its Android system to smartphone makers, but critics say it imposes restrictions like mandatory pre-installation of its own apps that are anti-competitive. The CCI in October ordered Google to not prohibit un-installing of its apps by Android phone users in India -- currently, one can't delete apps such as Google Maps or YouTube from their Android phones when they come pre-installed. "No other jurisdiction has ever asked for such far-reaching changes based on similar conduct," Google said in its court submissions.

NEW DELHI, Jan 7 (Reuters) - Google has filed a legal challenge in India's Supreme Court to block a ruling by the country's antitrust watchdog that will force the U.S. company to change how it markets its Android platform, court records showed on Saturday. The challenge comes after Google suffered a setback on Wednesday when an appeals tribunal rejected its request to block the antitrust ruling. The company argued that implementation of the CCI's directives will hurt its long-standing business model and consumer interests. Supreme Court records show Google filed a challenge against the tribunal ruling on Saturday. Google's Supreme Court filing seeks to put the CCI decison on hold while its appeal is heard, said one person familiar with the matter on Saturday.

Jan 6 (Reuters) - FTX's U.S.-based bankruptcy team have agreed to coordinate with liquidators winding down the crypto exchange's operations in the Bahamas, resolving a dispute that threatened the recovery of what could be billions of dollars in lost funds. FTX’s U.S. bankruptcy team has been at odds with Bahamian officials since November, when competing bankruptcies were filed in the two countries. The Securities Commission of the Bahamas began liquidation proceedings on Nov. 10 against FTX Digital Markets Ltd., the company's Bahamas-based unit. The next day a U.S. Chapter 11 proceeding was filed in Delaware, which included more than 100 FTX entities including FTX Trading and crypto hedge fund Alameda Research. Bahamian regulators have seized FTX assets, which officials said was meant to safeguard assets that will ultimately be returned to creditors of FTX Digital Markets.

LONDON/WASHINGTON, Jan 6 (Reuters) - A Russian hacking team known as Cold River targeted three nuclear research laboratories in the United States this past summer, according to internet records reviewed by Reuters and five cyber security experts. Cold River has escalated its hacking campaign against Kyiv's allies since the invasion of Ukraine, according to cybersecurity researchers and western government officials. 'INTELLIGENCE COLLECTION'In May, Cold River broke into and leaked emails belonging to the former head of Britain's MI6 spy service. Reuters was unable independently to confirm why Cold River targeted the NGOs. "Google has tied this individual to the Russian hacking group Cold River and their early operations," he said.

In India, Google is now gearing up to file a legal challenge at the Supreme Court within days as the antitrust watchdog's Jan. 19 deadline to implement changes to its model looms, the first source with direct knowledge said. The Supreme Court approach will come after Google suffered a setback on Wednesday when a tribunal turned down its request to block the antitrust ruling. Google believes some of CCI's directives cannot be implemented, and the company "has no other option" than approaching the Supreme Court for relief, the source added. Google licenses its Android system to smartphone makers, but critics say it imposes restrictions like mandatory pre-installation of its own apps that are anti-competitive. Separately, Google has alleged in its filings the CCI's investigation unit copied parts of a European 2018 ruling against the U.S. firm, Reuters has reported.

☆ India tribunal declines Google's request to block Android antitrust ruling
▼ + stars: | 2023-01-04 | by ( Arpan Chaturvedi | ) www.reuters.com time to read: +1 min

NEW DELHI, Jan 4 (Reuters) - An Indian tribunal on Wednesday declined a request by Google to block an antitrust ruling that ordered the tech giant to change its approach to its Android platform, dealing the U.S. firm a setback in a key growth market. During the hearing, Google's counsel, Abhishek Manu Singhvi, repeatedly pushed for putting the decision on hold, or extending the date of implementation of CCI's directives beyond Jan. 19. He said the CCI's decision will force the company to change its business model and harm consumer interest. The CCI investigators "copy-pasted extensively from a European Commission decision, deploying evidence from Europe that was not examined in India", Google alleged. Reporting by Arpan Chaturvedi and Munsif Vengattil in New Delhi; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Biden names Phillips acting head of energy regulator
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +1 min

Companies Federal Energy Regulatory Commission FollowWASHINGTON, Jan 3 (Reuters) - President Joe Biden has named Willie Phillips, a Democrat, acting chairman of the Federal Energy Regulatory Commission, FERC said on Tuesday. Phillips joined the commission in December, 2021 after being appointed by Biden and approved by Congress. After Phillips joined FERC, that began to change as Democrats had a 3-2 majority and the Biden administration pursued policies to transition to low-carbon energy. But now Phillips is acting chairman, FERC will be locked at a 2-2 because the former head, Richard Glick, left FERC after Senator Joe Manchin, a conservative Democrat, did not hold a confirmation hearing to consider Biden's re-nomination of Glick. Phillips will serve as temporary chief of the commission as the Biden administration considers nominating a permanent chair.

☆ Indian tribunal declines interim stay for Google on Android-related antitrust ruling
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, Jan 4 (Reuters) - An Indian tribunal on Wednesday declined Google's request for an interim stay on an antitrust ruling that ordered the tech giant to change its approach to its Android platform. The Competition Commission of India in October fined Alphabet Inc's (GOOGL.O) Google $161 million for exploiting its dominant position in markets such as online search and through the Android app store, and asked it to change restrictions imposed on smartphone makers related to pre-installing apps. Reporting by Munsif Vengattil in New Delhi; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Sam Bankman-Fried pleaded not guilty in New York federal court Tuesday to eight charges related to the collapse of his former crypto exchange FTX and hedge fund Alameda Research. The onetime crypto billionaire was indicted on charges of conspiracy to commit wire fraud and securities fraud, individual charges of securities fraud and wire fraud, money laundering, and conspiracy to avoid campaign finance regulations. Federal prosecutors also announced the launch of a new task force to recover victim assets as part of an ongoing investigation into Bankman-Fried and the collapse of FTX. Federal prosecutors built the indictment against Bankman-Fried with unusual speed, packaging together the criminal charges against the 30-year-old in a matter of weeks. The federal charges came alongside complaints from the Commodity Futures Trading Commission and the Securities and Exchange Commission.

☆ Bahamas regulator sticks to estimate of FTX assets
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

Jan 2 (Reuters) - The Securities Commission of the Bahamas (SCB) rebuffed on Monday FTX's claims about the digital assets of its Bahamas unit held by the regulator, saying the debtors of the bankrupt cryptocurrency exchange had "incomplete information". Last month, the SCB said it had seized more than $3.5 billion in cryptocurrency from the unit, FTX Digital Markets, which it was holding for future repayment to customers and other creditors. FTX disputed SCB's calculations, saying its digital assets seized in November were worth just $296 million and not $3.5 billion. "Such public assertions by the Chapter 11 debtors werebased on incomplete information," the regulator said in a statement on Monday. Bahamas officials have sought access to FTX's records to help liquidate FTX Digital Markets, but the company's U.S. bankruptcy team said it did not trust them with the information.

☆ Regulators in the Bahamas back their estimate on $3.5 billion in seized FTX crypto assets, saying the exchange's counter-claim of $296 million is due to 'incomplete information'
▼ + stars: | 2023-01-03 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Regulators in the Bahamas stood by their estimate on the $3.5 billion in crypto assets they seized from FTX. They rejected FTX's claims that the assets are worth just $296 million. "Such public assertions by the Chapter 11 debtors were based on incomplete information," the SCB said. The Securities Commission of the Bahamas pushed back against FTX's own valuation of $296 million, saying "Such public assertions by the Chapter 11 debtors were based on incomplete information." Meanwhile, FTX founder and former chief executive Sam Bankman-Fried is set to be arraigned in court on Tuesday in Manhattan federal court.

☆ Google alleges India antitrust body copied parts of EU order on Android abuse
▼ + stars: | 2023-01-03 | by ( ) www.cnbc.com time to read: +3 min

Indian visitors talk on their mobile phones outside the Google stall at the India Mobile Congress in New Delhi on Sept. 27, 2017. In its filing to an Indian appeals tribunal, Google argues the CCI's investigation unit "copy-pasted extensively from a European Commission decision, deploying evidence from Europe that was not examined in India". Spokespeople for the CCI and European Commission did not immediately respond to requests for comment. In Europe, 75% of 550 million smartphones run on Android, compared with 97% of 600 million devices in India, Counterpoint Research estimates. In its appeal, Google alleges the CCI only found antitrust infringements related to the Google search app, Chrome browser and YouTube, but its order "extends beyond" that.

☆ North Korea's Kim sacks No. 2 military official
▼ + stars: | 2023-01-02 | by ( Hyonhee Shin | ) www.reuters.com time to read: +3 min

SEOUL, Jan 2 (Reuters) - North Korea has sacked Pak Jong Chon, the second most powerful military official after leader Kim Jong Un, state media reported. The party's Central Military Commission, which is headed by Kim, is considered the country' most powerful military decision-making body, above the defence ministry. In late 2020, Pak was promoted to the politburo and earned the title of marshal, the highest military rank under Kim, and became a leading voice last November against joint South Korea-U.S. military exercises. Like most other top military aides who went through ups and downs repeatedly under Kim, Pak was briefly demoted in mid-2021 after Kim chided some officials for their handling of North Korea's anti-coronavirus policy, before being promoted again months later. Ri, Pak's successor, is also a senior military commander who held key positions including chief of the army's general staff and defence minister.

☆ FTX says Bahamas regulators hold $296 mln, not $3.5 bln of company's assets
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: 1 min

Dec 30 (Reuters) - FTX on Friday disputed the Securities Commission of the Bahamas' claims that the regulator was holding $3.5 billion of the bankrupt cryptocurrency exchange's assets. When the digital assets of FTX were transferred to the regulator in November, their value was just $296 million, FTX said in a statement. Reporting by Niket Nishant in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Bahamas Regulator Says It Seized $3.5 Billion in FTX Crypto Assets
▼ + stars: | 2022-12-30 | by ( Jonathan Randles | Becky Yerak | ) www.wsj.com time to read: 1 min

Bahamas securities regulators said they seized digital assets valued at $3.5 billion from FTX’s local operation in mid-November as the cryptocurrency exchange spiraled toward collapse and confirmed they relied on FTX’s co-founders to make the transfers happen. Christina Rolle, executive director of the Securities Commission of the Bahamas, said in an affidavit made public Thursday that the commission sought control of the crypto assets held by FTX Digital Markets Ltd. last month after FTX co-founder Sam Bankman-Fried told local authorities under oath about a hacking attempt.

Search resuls for: "Commission of"

25 mentions found