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DORA requires banks, insurance companies and investment to strengthen their IT security. The EU regulation also seeks to ensure the financial services industry is resilient in the event of a severe disruption to operations. These IT providers often deliver "critical digital services to customers," said Joe Vaccaro, general manager of Cisco-owned internet quality monitoring firm ThousandEyes. This has made banks and other financial services providers more vulnerable to cyberattacks and other incidents. DORA will focus more on banks' digital supply chain — which represents a new, potentially less comfortable legal dynamic for financial firms.
Persons: DORA, DORA —, Charles Schwab —, Mike Sleightholme, Joe Vaccaro, Banks, Vaccaro, Sleightholme, it's, Carl Leonard, Leonard, Stephen McDermid, Okta, Fredrik Forslund, Blancco, there's, Forslund Organizations: Getty, Financial, European Union, CNBC, JPMorgan Chase, Santander, Visa, Broadridge, Cisco, EU, Data Locations: European, EU, DORA, noncompliance
Here's how Sony did in the June quarter, versus LSEG consensus estimates:Revenue: 3.01 trillion Japanese yen ($20.5 billion), versus 2.8 trillion yen expected. Operating profit: 279.11 billion yen ($1.9 billion), versus 275.35 billion yen expected. Gaming, for which Sony is well-known thanks to its popular PlayStation consoles, banked revenues of 864.9 billion yen in the quarter, up 12% from 771.9 billion yen a year ago. For full-year 2024, Sony revised its forecast upward saying it now expects to hit 12.6 billion yen of sales. Sony also upped its operating profit forecast by 3%, noting it expects to reach 1.3 trillion yen in consolidated operating profit for the full year.
Persons: Carter Organizations: Sony, PlayStation
The Paramount Studios in Los Angeles, California, US on Monday, April 29, 2024. Sony's finance chief on Wednesday said the Japanese technology and media giant will not reconsider a fresh bid for film and TV production group Paramount Global . Sony currently has no plans to submit a revised offer for Paramount, said Hiroki Totoki, the company's chief financial officer. In a response to a question during Sony's fiscal first-quarter earnings presentation, Totoki said that an acquisition of Paramount "does not fit well with our strategy." Totoki's comments confirm reports on Tuesday from Japanese financial newspaper Nikkei, that Sony had decided not to make a new bid for Paramount Global after independent film studio Skydance Media struck a deal to acquire the media giant.
Persons: Hiroki Totoki, Totoki Organizations: Paramount Studios, Paramount Global, Sony, Paramount, Nikkei, Skydance Media Locations: Los Angeles , California
Elon Musk is "the one person who is accountable to no one" and his impact on public discourse should not be underestimated, the U.K.'s technology minister said in an interview with the Times newspaper, adding to recent criticisms of the technology billionaire from senior government officials. Peter Kyle, secretary of science, innovation and technology, said in the interview, which was published Wednesday, that Musk has the power to influence major world affairs — even the war between Russia and Ukraine. Kyle added that the relationship Britain has with companies such as X and other major social media firms, "is much more akin to the negotiations with fellow secretaries of state in other countries, simply because of the scale and scope that they have." His comments, which were made before the recent riots in the U.K., follow Sunday's controversial remarks from Musk about British affairs. On Monday, the British prime minister's official spokesperson said there was "no justification" for comments like those made by X's owner and chairman.
Persons: Elon Musk, Peter Kyle, Musk, , Kyle Organizations: Times Locations: Russia, Ukraine, Britain
Elon Musk slammed by government after comments on UK riots
  + stars: | 2024-08-06 | by ( Ryan Browne | ) www.cnbc.com   time to read: +1 min
Elon Musk attends 'Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk' session during the Cannes Lions International Festival Of Creativity 2024 - Day Three on June 19, 2024 in Cannes, France. LONDON — The U.K. government hit back at Elon Musk after the billionaire made controversial comments about riots — fueled by the far-right and anti-immigration sentiment — taking place across the country. On Sunday, Musk replied to a post about the riots on X, the social media platform he owns, stating: "Civil war is inevitable." Responding to a reporter's question on Monday on whether Starmer agreed with Musk's tweet, the PM's spokesperson said: "There is no justification for comments like that." "What we've seen in this country is organized illegal thuggery which has no place on our streets or online," Starmer's official spokesperson said.
Persons: Elon Musk, Mark Read, Manchester —, Musk, Keir Starmer, Heidi Alexander Organizations: Cannes Lions, LONDON, Elon, Manchester Locations: Cannes, France, , Liverpool, Britain
Even the Olympic athletes are letting their personalities shine through via arty manicures or spray-painted hair. Christophe Petit Tesson/Pool/EPA/ShutterstockBritish Prime Minister Keir Starmer wore a Team GB rain jacket to the opening ceremony of the Olympic Games Paris 2024. Matthew Stockman/Getty ImagesLady Gaga wore custom-made Dior during her cabaret-inspired performance at the opening ceremony. John Walton/PAUS track and field athlete Sha'Carri Richardson dazzled the camera with her custom manicure during the opening ceremony. Jamie Squire/Getty ImagesModel Kendall Jenner seen wearing Team USA merchandise and high-waisted jeans on August 1.
Persons: Anna Wintour, Ariana Grande, Thom Browne, Zendaya, Law Roach, Jean, Charles de Castelbajac, it’s, Keir Starmer, , Celine Dion, Serena Williams, Louis Vuitton, Fondation Louis Vuitton, Anthony Behar, Cynthia Erivo, Vuitton, Browne, Christophe Petit Tesson, Karwai Tang, Thelma Davies, Emmanuel Matadi, Lars Baron, Getty, Chrissy Teigen, John Legend, Matthew Stockman, Lady Gaga, Dior, John Walton, Sha'Carri Richardson, Ashley Landis, Dr, Jill Biden, Ralph Lauren, Karen Bass, Jamie Squire, Shirine Boukli, Buda Mendes, Sauer, Charles McQuillan, Snoop Dogg, Charlie Riedel, Jessica Chastain, Yuto Horigome, Sara Balzer, Mustafa Ciftci, Nicole Kidman, Natalie Portman, Simone Biles, Pete Dovgan, ” Biles, , I’m Simone Biles, Kendall Jenner, Sharon Stone, Spain's Carlos Alcaraz, Serbia's Novak Djokovic, Arturo Holmes, Jordan Chiles, Alvaro Diaz, Latifah, Sameer Al, Princess Anne, Pascal Le Segretain, Noah Lyles, Christian Petersen, Kirill Kudryavtsev Organizations: CNN, Olympic Games, Vogue, arty, Starmer’s, Fondation Louis, British, Team Liberia, Getty, USA, South Korean Olympic, NBC, Apple, Nike, Kyodo, Anadolu Agency, Speed, Team USA, Europa Press, Team Locations: Paris, New York, Chloé, AFP, Los Angeles, Spring , Texas, Serbia, USA
Not to mention the third round of men’s golf, and men’s and women’s tennis medal matches earlier in the day. Saturday's 31 gold medal events Sport Event Time Archery Women's individual 8:46 a.m. Shooting Men's skeet 9:30 a.m. Surfing Men's final 4 p.m. Surfing Women's final 5:12 p.m. Swimming Mixed 4x100m medley relay 3:58 p.m. Table tennis Women's singles 8:30 a.m. Tennis Men's doubles 6 a.m. Tennis Women's singles Third on courtThere’s also the U.S. women’s soccer quarterfinal against Japan at 9 a.m. Added Tamayo: “You’ve gotta manage your brain, you can’t go too hard.”Step 3: Have a pick-me-upChina’s Zheng Qinwen goes against Croatia’s Donna Vekić in the women’s tennis gold medal match.
Persons: Scott Hanson, Hanson, , we’re, “ RedZone, Simone Biles, Katie Ledecky, LeBron James, Sha’Carri Richardson, Léon Marchand, Stephen Nedoroscik, ” Hanson, it’s, Gabriel Bouys, Tom Harris, Year’s Eves, , Harris, Biles, Nedoroscik, Ledecky, Richardson, Men's, Athletics Women's, There’s, Pace, Ryan Crouser, Ben Stansall, Jonathan Tamayo, Tamayo, , ” Tamayo, ” Ashton Harrison, Zheng Qinwen, Croatia’s Donna Vekić, Harrison, Devin Altieri —, ” Altieri, you’ve, Altieri, carbo, “ Don’t, Pascal Guyot, Oside, Oluwole, . Hanson, “ I’ve, Peacock's, RedZone, Dan Goldfarb, Sean Reilly, Henry Browne, Hannah Peters, Jamie Squire, Jonathan Nackstrand Organizations: NFL, Paris, Olympic, Getty Images, Times Square Alliance, Stade de France, Athletics, Women's, Athletics Men's, Badminton, Dressage, Japan, U.S, Puerto Rico, Getty, Indy, Pepsi, rugby, USA, Paris Games Locations: U.S, AFP, New York, Florida, Paris, Sebring
(Photo by Rasid Necati Aslim/Anadolu via Getty Images)The U.K. government has canceled £1.3 billion ($1.7 billion) worth of computing infrastructure projects, in a big setback to the country's ambitions to become a world leader in artificial intelligence. A government spokesperson confirmed to CNBC that two major taxpayer-funded spending commitments, worth £500 million and £800 million, respectively, were being dropped in order to prioritize other fiscal plans. Earlier this week, British Finance Minister Rachel Reeves announced a raft of spending cuts after revealing Labour had inherited a projected £22 billion ($28 billion) of unfunded pledges from the center-right Conservatives. The Labour government was widely expected to announce the introduction of the first-ever U.K. AI Bill in a speech delivered by King Charles III last month. A DSIT spokesperson instead told CNBC the government would consult on plans to regulate AI in due course.
Persons: Rasid Necati, Rishi Sunak's, Rachel Reeves, unfunded, codebreakers, Keir Starmer's, King Charles III Organizations: Artificial Intelligence, Getty, CNBC, Research, University of Edinburgh, Labour, Department for Science, Innovation, Technology, British Locations: London, United Kingdom, Anadolu, Bletchley, Nazi Germany
"It is likely to impact many businesses, especially those developing AI systems but also those deploying or merely using them in certain circumstances." For AI applications deemed to be "high-risk," for example, strict obligations will be introduced under the AI Act. watch nowExamples of high-risk AI systems include autonomous vehicles, medical devices, loan decisioning systems, educational scoring, and remote biometric identification systems. Generative AI is labelled in the EU AI Act as an example of "general-purpose" artificial intelligence. General-purpose AI models include, but aren't limited to, OpenAI's GPT, Google's Gemini, and Anthropic's Claude.
Persons: Dado Ruvic, Tanguy Van Overstraeten, Charlie Thompson, Appian, Thompson, Meta, OpenAI's, Google's, Anthropic's Claude, Jamil Jiva, Linedata, GDPR, Jiva Organizations: Reuters, European Commission, EU, CNBC, Microsoft, Google, Apple, Web Services, Big Tech, EMEA, Data, Facebook, Companies, AI Office, Commission Locations: Brussels, EU, Europe
Illustrative image of two commemorative bitcoins seen in front of the national flag of Russia displayed on a computer screen. Russia is considering legalizing the use of cryptocurrency for international payments as the country faces ongoing financial pressure from Western sanctions. The State Duma, which is the lower house of the Russian Parliament, will on Tuesday consider a law that permits making international payments via cryptocurrencies, Elvira Nabiullina, the governor of Russia's central bank, said Tuesday. Russia's central bank is also itself looking to move money across borders using crypto, with its chief saying crypto-based payments will take place before the end of 2024. In January 2022, the Russian central bank proposed banning the use of crypto for transactions, as well as the mining of digital currencies, citing threats to financial stability, citizens' wellbeing and monetary policy sovereignty.
Persons: Elvira Nabiullina, Nabiullina Organizations: Duma, State Duma, Russian Federation Council, RIA Novosti, Reuters, Russian Embassy, CNBC Tuesday Locations: Russia, Russian, Russia's, State, cryptocurrencies, London
CNN —Close your eyes and imagine a stand-up comedian. Today, female comics are more likely to be seen in vintage Versace, Gucci or Alessandra Rich than a denim button-down. To the uninitiated, Barone wore a sparkly silver dress. Dev Bowman“For a long time, female comedians were pressured into dressing like their male counterparts,” said Barone. “I don’t want it to seem like I’m saying I’m the first person to ever wear a dress to do stand up comedy,” she said.
Persons: Versace, Gucci, Alessandra Rich, ” Ziwe, George Santos, Jean Paul Gautlier, Ayo Edibiri, , Loewe, Thom Browne, Rachel Sennott, Maya Rudolph, Mary Beth Barone, Barone, Kate Moss, Naomi Campbell, Moss, , Instagram, Barone nodded, ” Barone, Jimmy Fallon, Tom Ford, De, Dave Benett, Sidewalkkilla Barone, Todd Owyoung, Britney Spears, Mary, Kate, Ashley Olsen, Paris, Mary Beth Barone Cat Cohen, , ’ ”, Cohen, Kelsely Randall, Chloe, Halle Bailey, Kelsey, aren’t, Phyllis Diller, Jean Carroll, Joan Rivers, Rivers, Midge Maisel, Maisel, Catherine Cohen, Dev Bowman, ” Cohen, ” Margaret Cho —, Betsy Johnson, Todd Oldham, Gemma Kong, Andrew Dice Clay, Louis C.K, ” Cho, ” Margaret Cho, Jay Leno, Margaret Norton, Cho, Ron Galella, Karen Kilgarriff, Janeane Garofalo, Kim Gordon’s, Janeane, Karen, Harry Styles, Forbes earnt Styles, Edebiri, It’s, ” Barone —, Dior Organizations: CNN, YouTube, Sydney, De Beers, NBC, Paris Hilton, Netflix, Globe, MTV, Hollywood Locations: New York, LA
The Ledger Flex is a new, cheaper hardware crypto wallet from French startup Ledger. Ledger finally released Stax, its long-anticipated hardware crypto wallet, and is shipping units out to people who preordered the product in May. In addition to raising the price for Stax, Ledger is also releasing a new crypto hardware wallet. The Ledger Flex features an E Ink screen, similar to the Ledger Stax. The Ledger Flex, which costs $249, is smaller than the Ledger Stax and comes with a 2.8-inch display.
Persons: Stax, Ledger, Tony Fadell, Ledger Stax, Pascal Gauthier, Ledger's Stax, Ledger's Gauthier, Foxconn Organizations: Stax, Ledger, Flex, Google, CNBC, Apple Locations: Ledger, solana, London, Vietnam
Nearly two weeks after the assassination attempt on former President Donald J. Trump, there’s still no official report from the Trump campaign or from state or federal governments about what caused the wound on his right ear. This lack of clarity has left the issue unsettled and fueled speculation online about whether he was hit by a bullet or shrapnel — or perhaps something else. But a detailed analysis of bullet trajectories, footage, photos and audio by The New York Times strongly suggests Mr. Trump was grazed by the first of eight bullets fired by the gunman, Thomas Crooks. Subsequent bullets wounded two rally goers and killed a third. What has helped stoke confusion is that Mr. Trump himself has said he was hit by a bullet, but his campaign has not released any official medical reports, nor has Mr. Trump’s current physician weighed in.
Persons: Donald J, Trump, there’s, Thomas Crooks, Trump’s Organizations: The New York Times, stoke
On Today’s Episode:Arson Disrupts Trains Ahead of Opening Ceremony at Olympics, by Aurelien Breeden, John Yoon and Andrew DasHarris Narrows Gap Against Trump, Times/Siena Poll Finds, by Shane Goldmacher, Ruth Igielnik and Camille BakerObama Endorses Harris for the Democratic Nomination, by Jazmine Ulloa and Reid J. EpsteinSpeculation Swirls About What Hit Trump. An Analysis Suggests It Was a Bullet, by Malachy Browne, Devon Lum, and Alexander CardiaTwo Top Mexican Cartel Leaders Are Arrested by U.S. Authorities, by Alan Feuer and Natalie Kitroeff
Persons: Aurelien Breeden, John Yoon, Andrew Das, Shane Goldmacher, Ruth Igielnik, Camille Baker Obama, Harris, Jazmine Ulloa, Reid J, Epstein, Malachy Browne, Devon Lum, Alexander Cardia, Alan Feuer, Natalie Kitroeff Organizations: Times, Democratic, Mexican, U.S . Authorities Locations: Trump
Revolut cards is seen in this illustration photo taken in Krakow, Poland on March 29, 2024. British fintech startup Revolut said on Thursday that it had received a banking license with restrictions from the U.K.'s Prudential Regulation Authority, bringing to an end a three-year wait. The London-headquartered firm now has time to build up its U.K. banking infrastructure and operations ahead of officially launching. Revolut first applied for its banking license in 2021, but it has faced lengthy delays. A U.K. banking license will allow Revolut to take customer deposits and also issue products like loans and credit cards.
Persons: Francesca Carlesi, Revolut, Revolut's financials, — CNBC's Ryan Browne Organizations: Prudential, Authority, Barclays, CNBC Locations: Krakow, Poland, British, London, U.K
Buy now, pay later firms like Klarna and Block's Afterpay could be about to face tougher rules in the U.K.Britain's new Labour government will soon set out updated plans to regulate the "buy now, pay later" industry, a government spokesperson told CNBC. "Regulating Buy Now Pay Later products is crucial to protect people and deliver certainty for the sector," the Treasury spokesperson told CNBC via email Thursday. The government first set out plans to regulate the sector in 2021. BNPL plans are flexible credit arrangements that enable a consumer to purchase an item and then pay off their debt at a later date. Most plans charge customers a third of the purchase value up front, then take the remaining payments the following two months.
Persons: Block's, Tulip Siddiq, Siddiq, Keir Starmer's, Christopher Woolard, BNPL, Organizations: Labour, CNBC, Treasury, . Treasury, Keir Starmer's Labour Party, Financial Locations: Britain
In this article GOOGL Follow your favorite stocks CREATE FREE ACCOUNTGoogle announced in a surprise move that it would reverse its years-long plan to phase out third-party cookies. The U.S. internet giant said late Monday it is reversing a long-planned move to ditch third-party cookies — the critical text files that track users' web activity for advertisers. And what does Google's decision mean for how you interact with the web moving forward — or, for that matter the advertising industry? Roughly 40.9% of websites globally use cookies to gather data on users, according to data from W3Techs, a web technology research firm. This issue forms the main reason why Google has now decided to terminate its planned depreciation of third-party cookies.
Persons: Daniel Acker, Matthew Holman, Cripps, it's, Google's, Steve Silvers, there's, Silvers, Authority —, Vasiliki, Makou, Jennifer Elias Organizations: Google, Bloomberg, Getty, CNBC, Competition, Authority, ICO, Data Locations: U.S, W3Techs, Europe, London
Such a system would entail a collection of agents that work together to solve tasks in a distributed and collaborative way, according to Capgemini. Brier said the so-called AI agents fall into two types: individual agents that carry out tasks on your behalf, and multi-agent technology or, "agents talking to agents." In 2023, the number of firms adopting generative AI was 6%, according to Capgemini, but this year, that number has risen to 24%. According to the report, 10% of firms with an annual revenue of $1 billion to $5 billion are implementing generative AI. In aerospace and defense, 88% of organizations have invested in generative AI, for retail, that number drops to 66%.
Persons: Pascal Brier, Capgemini, Brier, it's Organizations: Istock, CNBC, Brier Locations: U.S, Europe, Germany
CrowdStrike makes software to help firms manage their security in IT environments. Cybersecurity firm CrowdStrike saw its shares plunge Friday, after an update led to a major outage, impacting businesses across the world. Shares of the company, which makes software to help firms manage their security in IT environments, tanked 14% in U.S. premarket trading. Microsoft , which also reported issues affecting its Azure cloud services and Microsoft 365 suite of apps, fell 2% in premarket trading. Please refresh for updates.
Persons: CrowdStrike Organizations: Microsoft Locations: U.S
By taking aim at the most powerful AI models, Labour would impose tighter restrictions on companies such as OpenAI, Microsoft , Google , Amazon , and AI startups including Anthropic, Cohere and Mistral. Matthew Houlihan, senior director of government affairs at Cisco, said any AI rules would need to be "centered on a thoughtful, risk-based approach." Even so, a U.K. AI law would be a step above the U.S., which currently doesn't have federal AI legislation of any kind. Sirion's Liu said one thing he's hoping the government doesn't do, is restrict open-source AI models. Herman Narula, CEO of metaverse venture builder Improbable, agreed that restricting open-source AI innovation would be a bad idea.
Persons: Keir Starmer's, King Charles III, doesn't, Starmer's, Matt Calkins, Appian, Lewis Liu, Liu, Rishi Sunak, Peter Kyle, Kyle, Zahra Bahrololoumi, Matthew Houlihan, Bill, Chris Holmes, Holmes, Matthew Holman, Cripps, Holman, Sirion's Liu, Herman Narula, Narula Organizations: Future Publishing, Labour, European Union, Microsoft, Google, CNBC, Conservative, BBC, AI Safety Institute, Cisco, Authority, EU, AI Safety, Tech, London Tech Week Locations: Jiangsu province, China, Ireland, Salesforce, U.S
On Friday, the cybersecurity firm experienced a major disruption following an issue with a software update. CrowdStrike is a cybersecurity vendor that develops software to help companies detect and block hacks. In the case of Friday's outage, machines running Microsoft's Windows operating system crashed due to a fault in the way a software update issued by CrowdStrike interacted with Windows. We approximate impact started around 19:00 UTC on the 18th of July," Microsoft said in an update at 5:40 a.m. Unless Microsoft and CrowdStrike (if they are involved) pull something miraculous out of the bag, this could be painful to recover from."
Persons: George Kurtz, Patrick T, CrowdStrike, , Kurtz, Andy Grayland, They'd Organizations: CrowdStrike Inc, Montgomery Summit, Fallon, Bloomberg, Getty, TV, CNBC, Fortune, Windows, Machines, Microsoft, CrowdStrike, Linux Locations: Santa Monica , California, Texas, U.S
On Today’s Episode:Takeaways From Day One of the Republican Convention, by Jonathan WeismanHow J.D. Vance Won Over Donald Trump, by Jonathan Swan and Maggie HabermanBystanders Warned Law Enforcement of the Gunman Two Minutes Before He Began Shooting, Video Shows, by David Botti, Malachy Browne, Haley Willis, Riley Mellen and Dmitriy KhavinJudge Dismisses Classified Documents Case Against Trump, by Alan FeuerThe World Is Pushing Clean Energy. Oil Companies Are Thriving, by Rebecca F. Elliott
Persons: Jonathan Weisman, J.D, Vance Won, Donald Trump, Jonathan Swan, Maggie Haberman, David Botti, Malachy Browne, Haley Willis, Riley Mellen, Dmitriy Khavin, Alan Feuer, Rebecca F, Elliott Organizations: Republican, Trump, Energy . Oil Companies
Craig Wright, self-declared inventor of Bitcoin, arrives at federal court in West Palm Beach, Florida, U.S., on Friday, June 28, 2019. LONDON — Craig Wright, an Australian man who claimed to be the inventor of bitcoin , was on Tuesday referred to British prosecutors for committing alleged perjury. On Tuesday, British High Court Judge James Mellor decided to refer a case against Wright's claim to be the inventor of bitcoin to the Crown Prosecution Service — which is the organization that prosecutes criminal cases investigated by the police in England and Wales. The CPS will now consider whether Wright should be prosecuted for what Mellor called "wholescale perjury and forgery of documents," and decide on whether a warrant for arrest and possible extradition is needed. Wright has remained mostly silent since a High Court ruling was issued claiming that he had lied "extensively and repeatedly" in his evidence attempting to prove the case that he was bitcoin's inventor, Satoshi Nakamoto.
Persons: Craig Wright, James Mellor, bitcoin, Wright, Mellor, Satoshi Nakamoto Organizations: LONDON, British, Court, Crown, Service, CPS Locations: West Palm Beach , Florida, U.S, Australian, England, Wales
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. If it finds reason to investigate further, the CMA can refer the case for an in-depth investigation, known as a "Phase 2" probe. The CMA said it would announce a decision on whether to refer the case for a Phase 2 investigation by Sept. 11. Microsoft announced in March it had hired Suleyman from Inflection, along with a number of other key employees at the firm. Both Suleyman and Simonyan were former employees of DeepMind, the Google-owned AI lab.
Persons: Mustafa Suleyman, Inflection's, Suleyman, Karen Simonyan, Simonyan Organizations: Ltd, Economic, Britain's, Markets Authority, CMA, Microsoft, DeepMind, Google Locations: Davos, Switzerland, Washington
Subsea cables are the backbone of the internet, carrying 99% of the world's data traffic. What are subsea cables? Subsea cables are the backbone of the global internet, carrying 99% of the world's intercontinental data traffic. More recently, U.S. tech giants including Meta, Google, Microsoft, and Amazon have invested significant sums to lay down their own cables. Many international subsea cable projects are reportedly circumventing China today due to concerns over data security and Beijing's expanding geopolitical influence.
Persons: TeleGeometry, Andy Champagne, Joe Vaccaro, Vaccaro Organizations: Photodisc, Getty, Yemen's, U.S, Asia America Gateway, Akamai Labs, CNBC, Cisco, Meta, Google, Microsoft, Amazon, U.S ., Echo, State Department, Wall Street, Submarine Systems, Team Telecom Locations: Yemen's Iran, China, Ireland, Asia, U.S, U.S . West Coast, Singapore, Indonesia, Africa, Europe, Pacific, Estonia, Hong Kong
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