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☆ Visa debuts a new product designed to make it safer to pay directly from your bank account
▼ + stars: | 2024-09-05 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Visa said it plans to launch a dedicated service for bank transfers, skipping credit cards and the traditional direct debit process. Visa, which alongside Mastercard is one of the world's largest card networks, said Thursday it plans to launch a dedicated service for account-to-account (A2A) payments in Europe next year. Users will be able set up direct debits — transactions that take funds directly from your bank account — on merchants' e-commerce stores with just a few clicks. It won't initially apply its A2A service to things like TV streaming services, gym memberships and food boxes, Visa added, but this is planned for the future. The product will initially launch in the U.K. in early 2025, with subsequent releases in the Nordic region and elsewhere in Europe later in 2025.

Organizations: Visa, Mastercard Locations: Europe, Nordic

☆ How plaid became popular for school uniforms
▼ + stars: | 2024-09-05 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +9 min

CNN —As students return to school, one patterned textile now synonymous with uniforms will make its seasonal reappearance on pleated skirts, jumpers and ties: plaid. It’s a family of textiles with broad scholarly appeal, with both religious and secular schools worldwide incorporating plaid into uniforms, from Mexico to Japan to Australia. Centuries of romanticizing Highlander clanship and identity has likely influenced our contemporary understanding of the textile, Maxwell noted. But the textile didn’t become a fixture of school uniforms until the 1960s, according to historian and educator Sally Dwyer-McNulty, who authored “Common Threads: A Cultural History of Clothing in American Catholicism” in 2014. (Dwyer-McNulty herself attended two different Catholic schools in Philadelphia, wearing plaid uniforms through high school).

Persons: “, Plaid, Ralph Lauren, Brooks, Cher Horowitz, ”, Mhairi Maxwell, you’re, Gogo Yubari, Maxwell, Royal Stewart, Stuart, Vivienne Westwood’s, Naomi Campbell, Zhang Peng, Dundee, ” Maxwell, Jane Barlow, Charles Edward Stuart —, Bonnie Prince Charlie —, Queen Victoria, Thomas Trutschel, Sally Dwyer, McNulty, Bendinger, Eisenberg, Flynn, t.A.T.u, Bruno Vincent, Dwyer, Olivia Rodrigo, Jenna Ortega, Thom Browne, Lydia Deetz, Bill Clinton, It’s, Alicia Silverstone, Kim Kardashian, Christian Siriano, “ It’s Organizations: CNN, “ Derry Girls, Brooks Brothers, “, Paramount, Everett, Miramax, Scottish, University of Alabama, Scottish Tartans Authority, Jacobite, Scottish Highland, Getty, Plaid, Gotham, Silverstone, preppy Ivy League Locations: Scotland, madras, India, It’s, Mexico, Japan, Australia, American, Dundee, Nara, Glen Affric, ”, Queen, Puebla, O’Hara, Philadelphia

☆ Microsoft dodges in-depth UK probe into hiring of staff from AI firm Inflection
▼ + stars: | 2024-09-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Mustafa Suleyman, co-founder and chief executive officer of Inflection AI UK Ltd., speaks at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. In March, Microsoft announced the hiring of Suleyman from Inflection, along with a number of other key employees at the firm. Suleyman was appointed Microsoft's executive vice president and CEO of Microsoft AI. The CMA had not previously spelled out exactly how the hiring of Inflection AI employees could undermine competition. The Inflection arrangement isn't the only pact with a Big Tech company and AI startup that regulators in the U.K. are assessing.

Persons: Mustafa Suleyman, DeepMind, Suleyman, Karen Simonyan, Simonyan Organizations: Ltd, Economic, LONDON, U.K, Markets Authority, Microsoft, Windows, DeepMind, Google, CMA, CNBC Wednesday, Reuters, Street Journal, Big Tech, Amazon, Federal Trade Commission Locations: Davos, Switzerland, U.S, Britain, Redmond, Washington

☆ Robinhood lets Brits lend shares for extra income in bid to grow international footprint
▼ + stars: | 2024-09-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

In this photo illustration, the Robinhood Markets Inc. website is shown on a computer on June 06, 2024 in Chicago, Illinois. You can think of stock lending like "renting" out your stocks for extra cash. Customers are able to sell lent stock at any time and withdraw proceeds from sales once the trades settle, Robinhood said. It is not guaranteed stocks lent out via its lending program will always be matched to an individual borrower, however. "Stock Lending is another innovative way for our customers in the UK to put their investments to work and earn passive income," Jordan Sinclair, president of Robinhood U.K., said in a statement Wednesday.

Persons: —, Robinhood, Jordan Sinclair Organizations: Robinhood, Wednesday Locations: Chicago , Illinois, U.K

☆ Klarna rival Zilch posts first profit and appoints ex-Aviva CEO to board ahead of IPO
▼ + stars: | 2024-09-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

British financial technology firm Zilch on Tuesday reported its first-ever month of profit, marking a key milestone for the company as it looks toward an eventual initial public offering. Competitors Starling and Monzo, meanwhile, took more than three and four years to make their first profit, respectively. Others have managed to hit profitability faster. Zilch also said it topped £100 million ($130 million) in annual revenue run rate, doubling from the run rate it reported last year. Philip Belamant, Zilch's CEO and co-founder, told CNBC Tuesday that, despite the current high-interest rate environment, the firm was able to hit profitability by growing its business rather than cutting back like other fintechs have done.

Persons: Zilch, Starling, Monzo, Philip Belamant Organizations: CNBC

☆ Delivery Hero (DHER) plans IPO of Middle East unit Talabat in Dubai
▼ + stars: | 2024-08-29 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

BERLIN, GERMANY - SEPTEMBER 04: The Delivery Hero office photographed on September 04, 2020 in Berlin, Germany. (Photo by Jeremy Moeller/Getty Images)European food delivery firm Delivery Hero says it plans to spin off its Middle East business Talabat and float it on the Dubai stock exchange later this year. In a brief statement Thursday, Delivery Hero said that it is "preparing a listing of its Talabat business on the Dubai Financial Market" in the fourth quarter. "A listing may be pursued through a secondary sale of shares by Delivery Hero which would retain the majority interest in the local listing entity after an IPO," Delivery Hero said in a statement. Shares of Delivery Hero jumped nearly 10% Thursday on the back of the Talabat IPO news as of 7:30 a.m.

Persons: Jeremy Moeller, Niklas Ostberg Organizations: Getty, Dubai, CNBC Locations: BERLIN, GERMANY, Berlin, Germany, Dubai

☆ Uber takes stake in SoftBank-backed self-driving tech startup Wayve
▼ + stars: | 2024-08-29 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

LONDON — Uber and British artificial intelligence startup Wayve announced a partnership Thursday that will see the two firms collaborate on autonomous driving technology. As part of the deal, Uber is also investing an undisclosed amount into Wayve for a minority stake, the companies said in a statement. He said that, together with Uber, Wayve is "excited to work with Automotive OEMs [original equipment makers] to bring autonomous driving technologies to consumers sooner." In the future, Uber intends to launch self-driving vehicles on its app equipped with Wayve's tech, the companies said. Uber has also offered rides in vehicles operated by Waymo, the Google self-driving spinoff, as part of a commercial tie-up.

Persons: Uber, Alex Kendall, Wayve's, Dara Khosrowshahi, Khosrowshahi, Cruise, Waymo Organizations: Uber, Nvidia, Microsoft, Automotive, SAE International, Aurora Technologies, General Motors, Waymo, Google, Lyft Locations: British, ., Aurora

☆ Telegram CEO charged with allowing criminal activity by French prosecutors
▼ + stars: | 2024-08-28 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Founder and CEO of Telegram Pavel Durov delivers a keynote speech during the Mobile World Congress in Barcelona, Spain February 23, 2016. REUTERS/Albert GeaFrench prosecutors on Wednesday charged Telegram CEO Pavel Durov with enabling criminal activity on the messaging platform and placed him under formal investigation following his arrest Saturday. In a statement, the Paris Prosecutors' Office said that Durov was indicted of all charges unveiled earlier this week in a statement from prosecutors. Durov has posted 5 million euros for bail, is under judicial supervision, cannot leave French territory, and has to report twice weekly to a police station, prosecutors said Tuesday. The 39-year-old Russian-born billionaire has been accused of failing to mitigate the misuse of his social media and messaging platform for criminal activities.

Persons: Pavel Durov, Albert Gea, Durov Organizations: Mobile, REUTERS, Paris Prosecutors, Office, CNBC Locations: Barcelona, Spain, Paris, Russian

☆ Nokia phone maker launches Barbie handset for $130 — with no internet
▼ + stars: | 2024-08-28 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The HMD Barbie phone is a co-branded product with Mattel, the toymaking giant behind the franchise. HMD, the company behind Nokia -branded phones, launched a Barbie-branded phone Wednesday that comes with calls, texts and a classic "flip" design — but no internet or social media apps. The HMD Barbie Phone is a hot pink device that flips open and shut and sports a bold "Barbie" logo on the back, harking back to the iconic fashion doll collection. A U.S. launch is planned "soon," according to HMD, which added that it will reveal exact details of the U.S. launch on social media. Unlike the internet-connected smartphones of today, which are the most widely adopted form factor when it comes to mobile devices, HMD's Barbie phone won't be connected to the internet.

Persons: Barbie, Lars Silberbauer Organizations: Mattel, Nokia Locations: U.S

☆ Russia warns France over Telegram founder's detainment, suggests it may be politically motivated
▼ + stars: | 2024-08-27 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Russia on Tuesday issued words of caution to France over its detainment of Pavel Durov, the founder and CEO of messaging app Telegram, suggesting the move may be politically motivated. Kremlin spokesman Dmitry Peskov on a Tuesday call with journalists urged Paris to provide evidence to support its allegations against Durov, Reuters and Russian state news agency Tass reported. "The charges are very serious indeed," Peskov told reporters, according to Reuters-translated comments. Peskov suggested that Durov's arrest could be viewed as both restricting freedom of speech and an act of intimidation if France fails to provide serious evidence of his guilt, Reuters and Tass reported. Although born in Russia, Durov holds citizenship of France and the United Arab Emirates.

Persons: Pavel Durov, Dmitry Peskov, Durov, Peskov Organizations: Paris Public Prosecutor's, Reuters, Tass, United, United Arab Emirates Locations: Russia, France, Paris, United Arab, UAE

☆ Buy now, pay later firm Klarna swings to first-half profit ahead of IPO
▼ + stars: | 2024-08-27 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Klarna said it posted a profit in the first half of the year, swinging into the black from a loss last year as the buy now, pay later pioneer edges closer toward its hotly anticipated stock market debut. In results published Tuesday, Klarna said that it made an adjusted operating profit of 673 million Swedish krona ($66.1 million) in the six months through June 2024, up from a loss of 456 million krona in the same period a year ago. On a net income basis, Klarna reported a 333 million Swedish krona loss. However, Klarna cites adjusted operating income as its primary metric for profitability as it better reflects "underlying business activity." Klarna is one of the biggest players in the so-called buy now, pay later sector.

Persons: Klarna, Sebastian Siemiatkowski Organizations: PayPal Locations: U.S, onboarding

☆ Ella Emhoff: All the fashion America’s potential next First Daughter wore to the Democratic National Convention
▼ + stars: | 2024-08-23 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +4 min

That should come as no surprise to anyone who’s followed Emhoff since Harris took office. From left to right, Helena Hudlin, goddaughter of Kamala Harris and Meena Harris, Harris' niece stand alongside Emhoff to speak at the final day of the DNC. Ella Emhoff arrived on the first day of the DNC in official Harris-Walz merch. Chip Somodevilla/Getty ImagesFor her speech, she wore an off-the-shoulder asymmetric baby blue and white drop-waist gown with a hand-ruched tulle skirt. Ando wrote on Instagram that the dress took three days to make and that Emhoff herself crocheted the piece’s flower detail on the shoulder strap.

Persons: Michelle Obama’s, Kamala Harris’s, Jill, Ralph Lauren, Ella Emhoff, who’s, Harris, Emhoff, Helena Hudlin, Kamala Harris, Meena Harris, Bernadette Tuazon, ”, Proenza Schouler, Maisie Wilen, Joe Biden’s, “, Helmut Lang, Chappell Roan, Thom Browne, Doug Emhoff, Walz merch, Win McNamee, Momala ”, — “, Kamala, She’s, she’s, Harris’s, Chip Somodevilla, Gen, Mary Jane, Joe Ando, Ando Organizations: CNN, Democratic National Convention, DNC Locations: Chicago

☆ The TikTok-famous designer behind Ella Emhoff's DNC dress said it was a modern take on a tea party look
▼ + stars: | 2024-08-23 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +5 min

Ella Emhoff's DNC look was customEmhoff, an artist, designer, and the internet's beloved "First Daughter of Bushwick," wore a tea-length gown for her DNC appearance. Ando said the dress took over 75 hours to make and that Emhoff crocheted the flower that sat on one sleeve herself. Outside the DNC, Emhoff's presence in the fashion community has been growing in recent years. Emhoff's father, Doug Emhoff, married Harris in 2014, so Harris has been in her life since she was a teen. With her one-of-a-kind look for the convention, Emhoff is likely to sport more fashion-forward looks throughout Harris' campaign.

Persons: —, Kamala Harris, Harris, Meena Harris, Helena Hudlin, Ella Emhoff, Joe Ando, Ella Emhoff's, Chip Somodevilla, Mary Jane shoes, Ando, Rachel Zegler, Dakota Johnson, I've, Ella, Win McNamee, I'm, Emhoff, Ando's, Helmut Lang, Harris Walz, Thom Browne, Joe Biden's, Miu, Prabal Gurung, Emhoff's, Doug Emhoff, Kamala, She's, she's Organizations: Service, Democratic National Convention, DNC, Business, Convention, Fashion Institute of Technology, IMG Locations: pleats, Emhoff

☆ Mike Lynch, man once dubbed 'Britain's Bill Gates,' dies at age 59
▼ + stars: | 2024-08-22 | by ( Ryan Browne | ) www.cnbc.com time to read: +9 min

Mike Lynch, 59, is the founder of enterprise software firm Autonomy. Dominic Lipinski | PA Images | Getty ImagesDuring the course of the trial, Lynch took the stand in his own defense. He became a key voice supporting the U.K. technology industry, backing key names like cybersecurity firm Darktrace and legal tech firm Luminance. Mike Lynch, founder of software firm Autonomy, at the company's headquarters in, Cambridge, U.K., Aug. 24, 2000. Bryn Colton | Hulton Archive | Getty Images"I keep rare breeds," Lynch told LeadersIn in a 2016 interview.

Persons: Mike Lynch, Hewlett Packard, Chris Ratcliffe, Lynch, —, Angela Bacares —, Bacares, Hannah, Bill Gates, Graham Barclay, David Tabizel, Richard Gaunt, Thomas Bayes, Dominic Lipinski, Autonomy's, Stephen Chamberlain, Sushovan Hussain, Hussain, Thoma, Bryn, LeadersIn Organizations: Autonomy, Hewlett, Bloomberg, Getty, LONDON, CNBC, Sky News, Bancroft's, British Industry, University of Cambridge, Lynett Systems, Cambridge, South Yorkshire Police, Cambridge Neurodynamics, HP, U.S, Packard, Prosecutors, Capital Management, Thoma Bravo, BBC, Council for Science, Technology, Forbes, East Anglian Times, The Times Locations: Sicily, U.S, Porticello, Palermo, Italy, Ilford, East London, Chelmsford, English, Essex, Woodford Green, London, Cambridge, Britain, Suffolk, Bryn Colton, England

☆ Startup using blockchain to prevent copyright theft by AI is valued over $2 billion after fresh funding
▼ + stars: | 2024-08-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Generative AI models require huge amounts of training data to enable their systems to produce advanced outputs. But the data that goes into them is often from sources where copyright restrictions are in place. The round values the two-year-old company at $2.25 billion, sources familiar with the matter told CNBC. Fighting AI copyright theftStory is now trying to tackle a timely problem with its tech — theft of copyrighted media on the internet by powerful generative AI models like OpenAI's ChatGPT. But the data that goes into fueling these AI models is often from sources where there's copyright restrictions in place.

Persons: Story, Andreessen Horowitz, Polychain, Smart, Story's, Lee, it's, Dolce Organizations: Getty, San, CNBC, Balmain, Gabbana, Brands, New York Times, Microsoft, Times, Big Locations: Francisco

☆ 'Britain's Bill Gates': Who is Mike Lynch, the UK tech entrepreneur missing after superyacht sinks?
▼ + stars: | 2024-08-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Mike Lynch, 59, is the founder of enterprise software firm Autonomy. Lynch, 59, is the founder of enterprise software firm Autonomy. During the trial, Lynch took the stand in his own defense, denying wrongdoing and telling jurors that HP botched Autonomy's integration. "I keep rare breeds," Lynch told LeadersIn during an interview. Weeks before he was reported missing, Lynch told The Times newspaper of how he feared dying in prison if found guilty over the HP allegations.

Persons: Mike Lynch, Hewlett Packard, Chris Ratcliffe, Lynch —, Bill Gates, —, Lynch's, Angela Bacares, Hannah —, Morgan, Jonathan Bloomer, Judy, Clifford Chance, Chris Morvillo, Neda, Stephen Chamberlain, Chamberlain's, Lynch, Autonomy's, Chamberlain, Sushovan Hussain, Hussain, David Tabizel, Richard Gaunt, Thoma, LeadersIn, Weeks Organizations: Autonomy, Hewlett, Bloomberg, Getty, LONDON, U.K, Morgan Stanley, Reuters, HP, U.S, Prosecutors, University of Cambridge, Lynett Systems, Cambridge, South Yorkshire Police, Cambridge Neurodynamics, BBC, Council for Science, Technology, Capital Management, Thoma Bravo, Forbes, East Anglian Times, The Times Locations: Sicily, Porticello, Palermo, Italy, Cambridgeshire, England, Britain, U.S, Ilford, East London, Chelmsford, English, Essex, U.K, British, Suffolk

☆ Tencent-backed Airwallex hits $500 million annualized sales, aims to get IPO-ready by 2026
▼ + stars: | 2024-08-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Airwallex, which was most recently valued at $5.6 billion and is backed by Tencent, has been tipped as one of many prominent fintech IPO candidates. Tencent -backed payments startup Airwallex has reached an annual revenue run rate of $500 million and will look to get ready for an initial public offering by 2026, CEO and co-founder Jack Zhang told CNBC in an exclusive interview. In the Americas region, Airwallex grew its revenue by more than 300% year-over-year, according to figures shared with CNBC. The U.K., Europe, and North America now account for more than 35% of Airwallex's overall transaction volumes, Zhang said. "In 2025, we will prepare everything, and we can decide what to do after 2026," he added.

Persons: Tencent, Jack Zhang, Zhang, Airwallex, it's Organizations: CNBC Locations: Singapore, Europe, North America, Americas, Airwallex

☆ Klarna takes on banks with a personal account and cashback rewards ahead of IPO
▼ + stars: | 2024-08-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Buy now, pay later firms like Klarna and Block's Afterpay could be about to face tougher rules in the U.K.Financial technology firm Klarna is pushing deeper into banking with its own checking account-like product and a cashback offering that rewards users for shopping via its app. "These new products make it easier for customers to manage multiple scheduled payments, helping our customers use Klarna for more frequent purchases and driving loyalty," Sebastian Siemiatkowski, Klarna's CEO and founder, told CNBC. Siemiatkowski said that Klarna wants to "support all consumers with their everyday spending," adding that the products will allow people to "earn money while they shop and manage it in a Klarna account." The two new products, which are being rolled out in 12 markets including the U.S. and across Europe, will show up in the Klarna app as "balance" and "cashback." Klarna balance lets users store money in a bank-like personal account, which they can then use to make instant purchases and pay off their buy now, pay later loans.

Persons: Block's, —, Sebastian Siemiatkowski, Siemiatkowski, Klarna Organizations: Financial, CNBC, U.S Locations: Europe

☆ Video game industry faces sluggish growth in 2024 amid weak console sales, research firm says
▼ + stars: | 2024-08-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Analysts are expecting Nintendo to release a successor to its hit Switch console in its fiscal year 2025. The global video game market is set for sluggish annual growth this year amid weak sales of gaming consoles, according to a new report from market research firm Newzoo. In a blog post published Tuesday, Newzoo said the games industry is set to grow 2.1% year over year to an estimated $187.7 billion. That is slightly down from an earlier January forecast in which the firm said it expects the video game industry to grow 2.8% to $189.3 billion in 2024. Though it's a step up from last year's growth rate of 0.6%, the games industry isn't experiencing the same growth rates it saw in the heady days of the Covid-19 pandemic.

Persons: Newzoo, it's Organizations: Nintendo, U.S Locations: U.S, China

☆ HelloFresh shares pop 11% as meal kit giant beats profit estimates
▼ + stars: | 2024-08-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Source: HelloFreshShares of German meal kit firm HelloFresh jumped on Tuesday after the company reported a better-than-expected profit in the second quarter and said its ready-to-eat meals segment saw rapid growth. HelloFresh shares climbed as much as 20% during morning trade, but had pared gains to rise 11% to 5.90 euros ($6.44) as of 6:19 a.m. The figure was down 23.7% from the same period last year, but exceeded the 123 million euros forecast of analysts surveyed by LSEG. Revenues at the firm increased by 1.7% in the quarter, to 1.95 billion euros, HelloFresh said. In March, HelloFresh shares plunged as much 42% suffering their worst-ever session to date after the company disappointed investors with its 2024 annual earnings outlook.

Persons: HelloFresh Organizations: LSEG, UBS Locations: North America

Thierry Breton, France's European Union commissioner for internal market and consumer protection, industry, research and energy. Billed as an unscripted conversation by Musk, the Spaces session will be one of the few campaign events Trump does this week. Breton warned Musk that the EU was prepared to "make full use of our toolbox" to protect EU citizens from "serious harm." Getty Images | Getty Images News | Getty ImagesSince then, Musk has made a series of incendiary comments about the situation in the U.K. on X. Riot police officers push back anti-migration protesters outside on Aug. 4, 2024 in Rotherham, U.K. Christopher Furlong | Getty Images

Persons: Elon Musk, Tesla, Apu Gomes, Linda Yaccarino, Thierry Breton, Yaccarino, Donald Trump, Musk, Kamala Harris, Keir Starmer, Ashlea Simon, Peter Kyle, Christopher Furlong Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Getty, European, X Corp, Union, Trump, Republican, Democratic, EU's Digital Services, Digital Services, Riot, British, Britain, Times Locations: Beverly Hills , California, Europe, United Kingdom, EU, Breton, Southport , England, Southport, England, Northern Ireland, Falkland Islands, Rotherham, U.K

☆ Maduro orders 10-day ban on Elon Musk's X in Venezuela after feud with billionaire
▼ + stars: | 2024-08-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Contested Venezuelan President Nicolas Maduro ordered a 10-day ban on social networking site X, cutting off locals' access to the platform after a feud with Elon Musk. And he has violated [the rules], by inciting hatred, fascism, civil war, death and confrontations among Venezuelans, [he] has violated all of the laws of Venezuela. And in Venezuela there are laws ... and we will enforce the laws. Venezuela's National Commission of Telecommunications, or Conatel, will "remove the X social network, previously known as Twitter, out of circulation in Venezuela for 10 days," allowing X to respond, Maduro added. Internet monitoring firm NetBlocks confirmed that X is now restricted in Venezuela following Maduro's order.

Persons: Nicolas Maduro, Elon Musk, Maduro, NetBlocks Organizations: National Electoral Council, CNBC, Twitter, National Commission of Telecommunications Locations: Caracas, Venezuela, Venezuelan, NetBlocks

☆ Amazon's $4 billion investment in AI firm Anthropic faces U.K. merger investigation
▼ + stars: | 2024-08-08 | by ( Ryan Browne | ) www.nbcnews.com time to read: +4 min

LONDON — E-commerce giant Amazon’s multibillion-dollar investment in the U.S. artificial intelligence firm Anthropic is formally being investigated by a U.K. competition regulator. Amazon completed in March a $4 billion investment in Anthropic. As part of the deal Amazon will make Anthropic’s powerful large language models available on its Bedrock platform for building generative AI applications. An Anthropic spokesperson told CNBC: “We are an independent company. The CMA is separately scrutinizing U.S. software giant Microsoft’s multibillion-dollar partnership and investment in AI giant OpenAI.

Persons: Anthropic, Anthropic “, ”, Matt Calkins, Appian, ” Calkins, you’ve, “ Organizations: Markets, CMA, Amazon, CNBC, Microsoft, U.S . Federal Trade Commission, Google, Big Tech Locations: U.S, Anthropic

☆ As disinformation spreads during UK riots, regulators are currently powerless to take action
▼ + stars: | 2024-08-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

But even as online disinformation related to stabbings in the U.K. has led to real-world violence, Ofcom, Britain's online safety regulator finds itself unable to take effective enforcement actions. Shortly after the attack, social media users were quick to falsely identify the perpetrator as an asylum seeker who arrived in the U.K. by boat in 2023. U.K. officials subsequently issued warnings to social media firms urging them to get tough on false information online. Peter Kyle, the U.K.'s technology minister, held conversations with social media firms such as TikTok, Facebook parent company Meta , Google and X over their handling of misinformation being spread during the riots. watch nowUnder the Online Safety Act, the sending of false information intended to cause non-trivial harm is considered a punishable criminal offense.

Persons: Christopher Furlong, knifeman, Taylor Swift, Axel Rudakubana, Peter Kyle, Gill Whitehead, Whitehead Organizations: Riot, Ofcom, Police, Facebook, Meta, Google, CNBC Locations: Rotherham, U.K, Southport, Merseyside

☆ Amazon's $4 billion investment in AI firm Anthropic faces UK merger investigation
▼ + stars: | 2024-08-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Chesnot | Getty ImagesLONDON — E-commerce giant Amazon's multibillion-dollar investment in the U.S. artificial intelligence firm Anthropic is formally being investigated by a U.K. competition regulator. As part of the deal Amazon will make Anthropic's powerful large language models available on its Bedrock platform for building generative AI applications. "By investing in Anthropic, Amazon, along with other companies, is helping Anthropic expand choice and competition in this important technology. Amazon's spokesperson added that the company will continue to make Anthropic's models available to customers via Bedrock. "We welcome the opportunity to cooperate with the CMA and provide them with a comprehensive understanding of Amazon's investment and our commercial collaboration."

Persons: Dario Amodei, Anthropic Organizations: Getty, Markets, CMA, Amazon, CNBC, Microsoft, U.S . Federal Trade Commission, Google Locations: Chesnot, U.S, Anthropic

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