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☆ Google DeepMind AI reveals potential for thousands of new materials
▼ + stars: | 2023-11-29 | by ( Martin Coulter | ) www.reuters.com time to read: +2 min

Google logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Nov 29 (Reuters) - Google DeepMind has used artificial intelligence (AI) to predict the structure of more than 2 million new materials, a breakthrough it said could soon be used to improve real-world technologies. The discovery and synthesis of new materials can be a costly and time-consuming process. DeepMind’s AI was trained on data from the Materials Project, an international research group founded at the Lawrence Berkeley National Laboratory in 2011, made up of existing research of around 50,000 already-known materials. Having used AI to predict the stability of these new materials, DeepMind said it would now turn its focus to predicting how easily they can be synthesised in the lab.

Persons: Dado Ruvic, “ We're, ”, Ekin Dogus, Kristin Persson, DeepMind, Martin Coulter, Jan Harvey Organizations: REUTERS, Google, Materials, Lawrence Berkeley National Laboratory, Thomson

NASA and Indian Space Research Organization logos are seen in this illustration taken May 1, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Nov 28 (Reuters) - NASA will train an Indian astronaut for a voyage to the International Space Station as early as next year, NASA Administrator Bill Nelson said on Wednesday, amid deepening space ties between India and the United States. "There is an opportunity to share science," Nelson said, speaking at an event in Bengaluru, where he is due to inspect the NISAR satellite on Thursday. NASA-ISRO SAR (NISAR) is a low-Earth orbit observatory system jointly developed by NASA and ISRO (Indian Space Research Organisation). "This is the golden age of space exploration," Nelson said at Wednesday's event.

Persons: Dado Ruvic, Bill Nelson, Nelson, NASA's, Russia's Luna, Nivedita, Kanjyik Ghosh, Alexandra Hudson Organizations: NASA, Indian Space Research, REUTERS, Rights, International Space Station, ISRO, Space Research, NASA's Artemis, Alexandra Hudson Our, Thomson Locations: India, United States, Bengaluru, NISAR, Russia, Ukraine, China, Mumbai

☆ TikTok obtaining Indonesia e-commerce permit - state media
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsJAKARTA, Nov 29 (Reuters) - Short video app TikTok is in the process of obtaining an e-commerce permit from Indonesia's government, state news agency Antara reported, citing the deputy trade minister. In September, Indonesia banned e-commerce transactions on social media, a major blow for TikTok, which had pledged to invest billions of dollars in Southeast Asia, including Indonesia, the region's biggest economy. Now they are taking care of it," deputy trade minister Jerry Sambuaga was quoted saying by Antara on Tuesday. It has been looking to translate the large user base into a major e-commerce revenue source. Reuters reported earlier this month that TikTok was in talks on possible partnerships with several Indonesian e-commerce companies, including GoTo's e-commerce unit (GOTO.JK) Tokopedia, Bukalapak.com (BUKA.JK) and Blibli (BELI.JK).

Persons: Dado Ruvic, Antara, Jerry Sambuaga, China's ByteDance, minister's, TikTok, Stefanno Sulaiman, Martin Petty Organizations: REUTERS, Rights, Reuters, GoTo's, Thomson Locations: Rights JAKARTA, Indonesia, Southeast Asia

☆ Prosus reports $2 bln in core earnings, sees e-commerce profitability earlier
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsAMSTERDAM, Nov 29 (Reuters) - Prosus NV (PRX.AS), a large technology investor, said on Wednesday its core headline earnings increased 118% in the first half of 2024, citing improved profitability in its stable of e-commerce investments. Core headline earnings for the half year ended on Sept. 30 were $2.0 billion, from $1.1 billion in the same period a year earlier, in line with a Nov. 20 trading statement. Core headlines earnings is a nonstandard measure the company says best reflects its group operating performance. It includes the massive stake Prosus owns in China's Tencent (0700.HK), which the company said has been sold down from 26.2% to 25% to fund a rolling share buyback program. Prosus says share buybacks benefit shareholders because the Tencent stake, now worth $98 billion, is worth about 30% more than Prosus itself.

Persons: Dado Ruvic, Prosus, Tencent, Toby Sterling, Jacqueline Wong Organizations: REUTERS, Rights, Prosus, HK, Thomson

☆ Broadcom to review strategic options for two VMware units - Insider
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed Broadcom logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 29 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) will review strategic options for two business units of VMware, Insider reported on Wednesday, citing a leaked email from CEO Hock Tan to employees. Broadcom closed its $69 billion acquisition of the cloud-computing firm on Nov. 22 after receiving regulatory approval from China. Its top boss Raghu Raghuram will serve as CEO Tan's technical advisor. Reporting by Arsheeya Bajwa in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Hock Tan, Raghu Raghuram, Arsheeya, Arun Koyyur Organizations: Broadcom, REUTERS, chipmaker Broadcom, VMware, Reuters, Cloud Foundation, Security, Thomson Locations: China, Bengaluru

☆ Prosus cuts India's Byju's valuation to under $3 billion
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsMUMBAI, Nov 29 (Reuters) - Tech investor Prosus NV (PRX.AS) said on Wednesday it was valuing Indian education firm Byju's at under $3 billion, 86% less than its peak valuation of $22 billion last year, after the company struggled with governance and cash-flow problems. The disclosure, made by interim CEO Ervin Tu during Prosus earnings call, is the latest cut to Byju's valuation after several executives and board members quit and it delayed filing its 2021/22 financial results by a year. Over the past year, shareholders including Prosus and Blackrock have successively cut Byju's valuation to $11 billion in March, $8 billion in May and $5 billion in June. It has delayed publishing its financial results, prompting auditor Deloitte and three board members quit in June. Byju's filed the delayed but incomplete financial results earlier this month, and is looking to sell off entire business lines to raise cash.

Persons: Dado Ruvic, Ervin Tu, Prosus, Byju's, Sriram, Aditya Kalra, Miral Organizations: REUTERS, Rights, Tech, Prosus NV, Prosus, Blackrock, Atlantic, Deloitte, Thomson Locations: Rights MUMBAI, Silver

☆ Majority of Britons support rejoining the EU single market - poll
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Nov 29 (Reuters) - A majority of Britons support rejoining the European Union's single market even though that would mean the restoration of the free movement of workers from the bloc, according to a poll published on Wednesday. Curbing immigration was a key reason Britons voted to leave the European Union in 2016. Support for joining the single market, which also guarantees the free movement of goods and services, was divided along political lines. For those respondents who voted to leave the EU and who would back the opposition Labour Party in an election tomorrow, 53% support single market membership, with 31% opposed. For those who voted for Brexit and intend to vote for the governing Conservatives, only 29% would support a return to the single market, with 54% opposed.

Persons: Dado Ruvic, Brexit, Keir Starmer, YouGov, Farouq Suleiman, Kate Holton, Nick Macfie Organizations: REUTERS, European Union, EU, Labour Party, Brexit, Conservatives, Labour, Thomson Locations: United Kingdom, Britain

☆ Social media CEOs to testify at US Senate hearing in January
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: 1 min

Meta and TikTok logos are seen in this illustration taken February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Nov 29 (Reuters) - The chief executives of social media companies Meta (META.O), X, TikTok, Snap (SNAP.N) and Discord will testify on online child sexual exploitation at a U.S. Senate hearing rescheduled for Jan. 31, the Senate Judiciary Committee said on Wednesday. The panel's Democratic chairman and the Republican ranking member said some companies had initially balked at participating and refused to accept a subpoena. "Now that all five companies are cooperating, we look forward to hearing from their CEOs," they said in a statement. Reporting by Susan Heavey; Editing by Doina ChiacuOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Susan Heavey, Doina Organizations: REUTERS, Rights, Meta, U.S, Senate, Jan, Democratic, Republican, Thomson

The dollar index , which measures its value against six major currencies, fell as far as 102.89, the lowest since Aug. 31. The index is on track for a loss of more than 3% in November, its worst performance since November 2022. The Conference Board said its consumer confidence index increased to 102.0 this month from a downwardly revised 99.1 in October. In other currencies, the euro rose to a 3-1/2-month peak of $1.0985 . The dollar fell 0.2% to 148.33 yen , with the Japanese currency continuing its recovery from the brink of 152 per dollar earlier in the month.

Persons: Dado Ruvic, Sterling, Karl Schamotta, underscoring, Gertrude Chavez, Dreyfuss, Alun John, Brigid Riley, Ed Osmond, Mark Potter, Kevin Liffey Organizations: REUTERS, U.S, Federal Reserve, Board, Federal Housing Finance Agency, Traders, Australian, New Zealand, Reserve Bank of New, Thomson Locations: Swiss, U.S, Toronto, OPEC, Reserve Bank of New Zealand, New York, London, Tokyo

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTOKYO/LONDON, Nov 28 (Reuters) - The U.S. dollar hit a three-month low against a basket of peers on Tuesday before steadying, as traders continued to unwind long dollar positions before this week's U.S. and euro zone inflation data. The dollar index , a measure of the greenback against six major currencies, was last at 103.17, a whisker above the 103.07 it touched in Asia trade, the lowest since Aug. 31. The index is on track for a loss of more than 3% in November, its worst performance in a year. The Japanese yen was a touch firmer at 148.45 per dollar , continuing its recovery from the brink of 152 per dollar earlier in the month as the dollar weakened. The Swiss franc was at 0.8810 per dollar, steady on the day, also around its firmest since the start of September, and the Australian dollar briefly touched a near four-month high of $0.6632.

Persons: Dado Ruvic, Simon Harvey, Brigid Riley, Alun John, Ed Osmond, Mark Potter Organizations: REUTERS, Rights, U.S, greenback . U.S, Fed, Reuters, Swiss, Australian, Reserve Bank of New, Thomson Locations: LONDON, steadying, U.S, Asia, OPEC, Reserve Bank of New Zealand

Meta announced the service for Facebook and Instagram last month. The ad-free service cost 9.99 euros ($10.90) monthly for Web users and 12.99 euros for iOS and Android users. Contrary to this law, Meta charges a 'privacy fee' of up to 250 euros per year if anyone dares to exercise their fundamental right to data protection," NOYB data protection lawyer Felix Mikolasch said in a statement. NOYB filed the complaint with the Austrian Data Protection Authority. The complaint will likely be forwarded to the Irish data protection watchdog which oversees Meta because it has its European headquarters in Ireland.

Persons: Dado Ruvic, Meta, Max Schrems, Felix Mikolasch, NOYB, Foo Yun Chee, Matthew Lewis Organizations: REUTERS, Rights, Meta, Facebook, EU, Austrian Data Protection, Netflix, YouTube, Google, Thomson Locations: Rights BRUSSELS, Europe, Austrian, Europe's, Vienna, Ireland, Brussels

☆ Alibaba Cloud suffers second service outage in a month
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsBEIJING, Nov 28 (Reuters) - Alibaba's (9988.HK) cloud service said it suffered a near two-hour long disruption affecting customers in mainland China, Hong Kong and the United States on Monday, its second outage within a month. The impact was mainly felt by several of Alibaba Cloud's database management products, including PostgreSQL, Redis and MySQL editions. "From 09:16 Beijing time (0116 GMT) on November 27, 2023, Alibaba Cloud monitoring detected abnormalities in console and OpenAPI access for database products," Alibaba Cloud said in a statement posted on its websites on Tuesday. "This is hugely damaging to Alibaba Cloud's brand image as a reliable cloud service provider."

Persons: Dado, Alibaba, Feng Ruohang, Yelin Mo, Brenda Goh, Simon Cameron, Moore Organizations: REUTERS, Rights, Huawei, China Telecom, HK, IDC, Thomson Locations: Rights BEIJING, HK, China, Hong Kong, United States, Beijing, Shanghai, Virginia, U.S, East Asia, Southeast Asia, East, North America

Funds' $10 billion net long dollar position in the week ending Nov. 7 was the biggest bullish bet on the greenback since October last year and a huge turnaround from the net short position worth more than $20 billion in mid-July. The last decade has shown that CFTC funds' net dollar positions tend to be long-term, directional trades held for at least a year, the longest of which was the net long from May 2013 through June 2017. But this time may be different - funds have only been net long dollars for nine weeks. The long dollar liquidation in the week to Nov. 14 was mostly against the euro and Japanese yen. Funds expanded their net long euro position by $2.9 billion, or nearly 21,000 contracts, the sixth increase in a row and the biggest since July.

Persons: Dado Ruvic, that's, Morgan, Jamie McGeever, Christina Fincher Organizations: REUTERS, Rights, Futures Trading Commission, Traders, Reuters, Funds, Bank of Japan, FX, Thomson Locations: Rights ORLANDO , Florida

☆ AI threatens wages, not jobs - so far, ECB paper finds
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsFRANKFURT, Nov 28 (Reuters) - The rapid adoption of artificial intelligence could reduce wages, but so far is creating, not destroying jobs, especially for the young and highly-skilled, research published by the European Central Bank showed on Tuesday. Firms have invested heavily in artificial intelligence, or AI, leaving economists striving to understand the impact on the labour market and driving fears among the wider public for the future of their jobs. Most of their impact on employment and wages – and therefore on growth and equality – has yet to be seen." The findings were in contrast to previous "technology waves," it said, when computerisation decreased "the relative share of employment of medium-skilled workers, resulting in "polarisation".

Persons: Dado Ruvic, –, Balazs Koranyi, Barbara Lewis Organizations: REUTERS, Rights, European Central Bank, ECB, Thomson

☆ Global regulators to assess if more crypto safeguards needed
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - More measures may be needed to stop blow-ups at complex crypto firms like FTX from destabilising the wider financial system, the global Financial Stability Board (FSB) said on Tuesday. The vulnerabilities are similar to those found in traditional finance, including leverage, liquidity mismatches, technology and operational vulnerabilities, the FSB said in a report. Evidence suggests that the threat to wider financial stability and the economy is limited at present, it added. The FSB and IOSCO, a global body of securities watchdogs, have already published this year high level recommendations for supervising crypto activities. Regulators, however, should assess whether these measures adequately stop risks from crypto being amplified across the financial system, the report said.

Persons: Dado Ruvic, FTX, Huw Jones, Kirsten Donovan Organizations: REUTERS, FSB, Thomson

☆ UK regulator says Adobe's $20 bln Figma deal could harm sector
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: 1 min

Adobe logo is seen on smartphone in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 28 (Reuters) - Britain's competition regulator on Tuesday said Photoshop owner Adobe Inc's (ADBE.O) $20 billion buyout of cloud-based designer platform Figma would "likely harm innovation for software used by the vast majority of UK digital designers." In July, the Competition and Markets Authority (CMA) launched an in-depth, or phase two, investigation into the deal after Adobe said it would not offer any concessions to ease the regulator's concerns. Reporting by Eva Mathews in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Eva Mathews, Nivedita Organizations: REUTERS, Adobe, Markets Authority, CMA, Thomson Locations: Bengaluru

☆ U.S. to launch joint remote sensing satellite with India early next year
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: 1 min

NASA and Indian Space Research Organization logos are seen in this illustration taken May 1, 2023. REUTERS/Dado Ruvic/Illustration/ File photo Acquire Licensing RightsNov 28 (Reuters) - The Indian Space Research Organization (ISRO) and the NASA plan to launch a joint remote sensing satellite for Earth observation in the first quarter of next year, deputy minister for science and technology Jitendra Singh said in a statement on Tuesday. Singh met a NASA delegation led by its administrator Bill Nelson in New Delhi, the statement said. Reporting by Kanjyik Ghosh; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Jitendra Singh, Singh, Bill Nelson, Kanjyik Ghosh, Andrew Heavens Organizations: NASA, Indian Space Research, REUTERS, Indian Space Research Organization, ISRO, Thomson Locations: New Delhi

☆ Exclusive: Greece to repay more euro zone bailout loans ahead of schedule
▼ + stars: | 2023-11-28 | by ( Lefteris Papadimas | ) www.reuters.com time to read: +2 min

The euro zone and the International Monetary Fund (IMF) together lent Greece more than 260 billion euros during its decade-long debt crisis which began in late 2009, in exchange for tough austerity measures. Last year, it paid off the IMF, which provided it with 28 billion euros between 2010 and 2014 - two years ahead of schedule. Euro zone countries lent Greece 53 billion euros in bilateral so-called Greek Loan Facility (GLF) loans during its first bailout, with maturities extending to 2041. With the planned payment this year, Greece will have repaid a total of about 13 billion euros. It has a liquidity buffer of more than 35 billion euros due to higher than expected tax revenues, strong growth and primary surpluses.

Persons: Dado, Lefteris Papadimas, Alexander Smith Organizations: Rights, Reuters, International Monetary Fund, IMF, Loan, Thomson Locations: Greece, bailouts

REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsNov 28 (Reuters) - ChatGPT owner OpenAI is not expected to offer Microsoft (MSFT.O) and other investors including Khosla Ventures and Thrive Capital seats on its new board, a person familiar with the matter told Reuters on Tuesday. In a few tumultuous days last week, OpenAI ousted its CEO and founder Sam Altman without any detailed cause, setting off alarm bells among investors and employees. Microsoft, which has invested more than $10 billion in OpenAI, is one of the biggest backers of OpenAI that operates ChatGPT, its viral generative AI chatbot. In response to a question on the OpenAI board, a Microsoft spokesperson said, "We will wait until the board officially says something." OpenAI and Thrive did not immediately respond to requests for comment, while Khosla declined to comment.

Persons: Dado Ruvic, OpenAI, Sam Altman, Thomas Hayes, Bret Taylor, Larry Summers, Adam D'Angelo, D'Angelo, Altman, Satya Nadella, Khosla, Zaheer Kachwala, Mary Varghese, Kenneth Li, Arun Koyyur Organizations: REUTERS, Microsoft, Khosla Ventures, Reuters, CNBC, Thomson Locations: OpenAI, Bengaluru

☆ Barclays eyes up to 900 job cuts in Britain - union
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

Barclays Bank logo is seen in this illustration taken March 12, 2023. A Unite spokesperson said that Barclays (BARC.L) staff were informed of the potential cuts at 1300 GMT. A Barclays spokesperson declined to comment on the number of job cuts, but referred to the bank's announcement alongside its third quarter results last month that it would look to reduce costs. "We are taking a number of actions to simplify and reshape the business, improve service, and deliver higher returns. Venkatakrishnan is racing to boost Barclays' returns ahead of an investor update in February, when he will unveil more details of the cost-cutting plan and how the bank plans to grow income.

Persons: Dado Ruvic, Iain Withers, Lawrence White, Sinead Cruise, Kirsten Donovan Organizations: Barclays Bank, REUTERS, Barclays, Group, Reuters, C.S, Thomson

☆ AI threat demands new approach to security designs -US official
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOTTAWA, Nov 27 (Reuters) - The potential threat posed by the rapid development of artificial intelligence (AI) means safeguards need to be built in to systems from the start rather than tacked on later, a top U.S. official said on Monday. "We've normalized a world where technology products come off the line full of vulnerabilities and then consumers are expected to patch those vulnerabilities. We can't live in that world with AI," said Jen Easterly, director of the U.S. Cybersecurity and Infrastructure Security Agency. "We have to look at security throughout the lifecycle of that AI capability," Khoury said.

Persons: Dado Ruvic, Jen, Sami Khoury, Khoury, David Ljunggren, Matthew Lewis Organizations: REUTERS, Rights OTTAWA, U.S, Cybersecurity, Infrastructure Security Agency, Canada's, Cyber Security, Thomson Locations: Ottawa, United States, British

☆ Will Livestreaming Be TikTok’s Amazon-Killer?
▼ + stars: | 2023-11-27 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

TikTok is already a channel where hundreds of millions of young users discover new products. Photo: dado ruvic/ReutersTikTok is trying to tap in to shoppers in the U.S. So-called social shopping is already a huge phenomenon in Asia. Success isn’t guaranteed—and politics could intervene. But given how effectively TikTok has already disrupted the social-media landscape, U.S. e-commerce giants like Amazon should be watching their back.

Persons: TikTok, dado ruvic, Reuters TikTok, isn’t Organizations: Reuters Locations: U.S, Asia

☆ Global bank ranking removes Unicredit and moves up UBS, China banks
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

Unicredit Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsZURICH, Nov 27 (Reuters) - The Financial Stability Board (FSB) on Monday removed Italy's UniCredit (CRDI.MI) from the list of global systemically important banks and moved three banks, including Switzerland's UBS (UBSG.S), up a bucket. UniCredit, which was the only lender in Italy among those deemed as being of global systemic importance by the FSB, had no comment. UBS moved up a bucket after earlier this year taking over Credit Suisse in the first merger of two systemically important banks. Agricultural Bank of China and China Construction Bank also moved up from bucket 1 to bucket 2.

Persons: Dado Ruvic, Italy's, Noele Illien, Giulio Piovaccari, Louise Heavens, Sharon Singleton Organizations: REUTERS, Rights, UBS, UniCredit, Credit Suisse, China's Bank of Communications, Agricultural Bank of, China Construction Bank, Thomson Locations: Italy, Agricultural Bank of China

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. The agreement is non-binding and carries mostly general recommendations such as monitoring AI systems for abuse, protecting data from tampering and vetting software suppliers. In addition to the United States and Britain, the 18 countries that signed on to the new guidelines include Germany, Italy, the Czech Republic, Estonia, Poland, Australia, Chile, Israel, Nigeria and Singapore. It does not tackle thorny questions around the appropriate uses of AI, or how the data that feeds these models is gathered. Europe is ahead of the United States on regulations around AI, with lawmakers there drafting AI rules.

Persons: Dado Ruvic, Biden, Raphael Satter, Diane Bartz, Alexandra Alper, Deepa Babington Organizations: REUTERS, Rights, Sunday, Cybersecurity, Infrastructure Security Agency, Congress, White, Thomson Locations: United States, Britain, U.S, Germany, Italy, Czech Republic, Estonia, Poland, Australia, Chile, Israel, Nigeria, Singapore, Europe, France

☆ Australia to amend law to regulate digital payments like Apple, Google Pay
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

A smartphone with the Apple Pay logo is placed on a displayed Google Pay logo in this illustration taken on July 14, 2021. Digital wallets from the likes of Apple (AAPL.O), Google (GOOGL.O) and WeChat developer Tencent (0700.HK) have exploded in popularity but are not captured by Australian payments law. "We are modernising Australia's payments system to ensure it meets the needs of our economy now and into the future," Treasurer Jim Chalmers said in a statement. "We want to make sure the increasing use of digital payments occurs in a way that helps promote greater competition, innovation and productivity across our entire economy." Regulators are responding to the rapid growth of digital wallets, especially among the young.

Persons: Dado Ruvic, Jim Chalmers, Chalmers, Lewis Jackson, Jamie Freed Organizations: Apple, REUTERS, Rights, Google, HK, Reserve Bank of Australia, Thomson

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