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A top Dutch government minister said he's confident the country's coveted chip-equipment maker ASML will remain in the Netherlands following threats from the company to move its operations abroad. Steven van Weyenberg, the Netherlands' finance minister, told CNBC's Karen Tso on Thursday that he isn't worried by ASML's statements threatening to leave the country. The company makes extreme ultraviolet lithography (EUV) machines, which are critical to the semiconductor industry for manufacturing integrated circuits. "I think many people, many countries would love to welcome ASML, but I think they're strongly embedded in the Netherlands," Van Weyenberg told CNBC Thursday. "I'm very optimistic about ASML's future and that it will be within the Netherlands," he said.
Persons: he's, Steven van Weyenberg, Karen Tso, Peter Wennink, Van Weyenberg, ASML Organizations: CNBC Locations: Netherlands
The Dutch government said Friday that it may be forced to stop using Facebook after a warning from the Netherlands' privacy regulator about the Meta -owned social media platform's privacy risks. The Dutch Data Protection Authority (DPA) issued a statement advising the Dutch Interior Ministry not to rely on Facebook pages to communicate with citizens if it doesn't have a clear idea of how Facebook uses the personal data of people who visit government pages. The Interior Ministry had previously asked the DPA to advise on whether the government could use Facebook pages in a compliant way. The government wants clarity from Meta "as soon as possible, at the latest before the summer recess, on how they are addressing our concerns," Alexandra van Huffelen, the Dutch Minister for Digitalization, said in a statement. "Otherwise, in line with the advice of the DPA, we will be forced to stop our activities on Facebook pages," she added.
Persons: Alexandra van Huffelen Organizations: Facebook, Meta, Dutch Data Protection Authority, Dutch Interior Ministry, Interior Ministry Locations: Netherlands
Messaging app Telegram to allow Tether stablecoin payments
  + stars: | 2024-04-19 | by ( Ryan Browne | ) www.cnbc.com   time to read: +1 min
Stablecoin Tether and Circle's USDC dominate the market. Justin Tallis | Afp | Getty ImagesTelegram users can now start making stablecoin USDT payments to each other through the encrypted messaging service's linked blockchain. It is integrated with the Telegram app. After this, users will be able to purchase USDT and send money to other users by selecting Tether's token as a payment option. The move could help make Tether's USDT coin more mainstream.
Persons: Justin Tallis, USDT Organizations: Afp, Getty, Open, U.S .
Charlie Perez | Nurphoto | Getty ImagesHow it worksHyperShield serves as a "shield for security," Patel said, explaining that it takes security directly to the things that need to be secured. It allows Cisco's AI to divide a computer network into smaller parts to improve performance and security. Designed with AI in mindPatel said Cisco's HyperShield technology was designed with a new world of digital AI assistants – like ChatGPT, Google Gemini, and other advanced tools – in mind. "We're moving from a world of scarcity to a world of abundance, with digital AI assistants for everything," Patel told CNBC. Stock Chart Icon Stock chart icon Cisco share price performance year-over-year, compared with the performance of the Nasdaq Composite over the same period.
Persons: Charlie Perez, HyperShield, Patel, , it's Organizations: Cisco, Mobile, Nurphoto, Google, CNBC, Nasdaq Locations: Barcelona, Spain
Seksan Mongkhonkhamsao | Moment | Getty ImagesA huge fraud website used by thousands of criminals to trick people into handing over personal information such as email addresses, passwords and bank details, has been infiltrated by international police. Britain's Metropolitan Police said in a statement Thursday that the website, called LabHost, was used by 2,000 criminals to steal users' personal details. Police have so far identified just under 70,000 individual U.K. victims who entered their details onto a website linked to LabHost. LabHost obtained 480,000 credit card numbers, 64,000 PIN codes, as well as more than 1 million passwords used for websites and other online services, the Metropolitan Police said. The Metropolitan Police said that up to 25,000 victims in the U.K. have been contacted by police to notify them that their data has been compromised.
Persons: LabHost, Dame Lynne Owens, Owens Organizations: Britain's Metropolitan Police, Police, Metropolitan Police, The Metropolitan Police, Metropolitan Police Service, Intel, Microsoft, Shadowserver Foundation, Trend, Cyber Defence Alliance, National Crime Agency, City of London Police
Emad Mostaque, founder and CEO of Stability AI, speaks during the Bloomberg Technology Summit in San Francisco, California, US, on Thursday, June 22, 2023. Beleaguered artificial intelligence startup Stability is laying off employees after the exit of its controversial former CEO Emad Mostaque. The company's newly appointed co-CEOs Shan Shan Wong and Christian Laforte told employees in an email Wednesday night that the firm needed to "restructure parts of the business, which will sadly mean saying goodbye to some colleagues." "Those who are affected by this have been notified individually and we will be supporting them throughout this period," Wong and Laforte, who were previously chief operating officer and chief technology officer at the company, respectively, said in the internal memo. Stability AI's layoffs amount to about 10% of its global headcount, according to publicly available data online which shows the firm employs around 200 people in total.
Persons: Emad Mostaque, Emad, Shan Shan Wong, Christian Laforte, Wong, Laforte Organizations: Bloomberg Technology Summit, CNBC Locations: San Francisco , California
Freetrade reported adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of £100,000 ($124,863) in the first quarter of 2024, according to unaudited financial statements shared with CNBC. Freetrade still generated a loss of £8.3 million in 2023, down from the £28.8 million loss it racked up the year before. "We defied difficult market conditions and delivered healthy growth in 2023 while dramatically reducing losses" in 2022, said Adam Dodds, CEO and founder of Freetrade. Net inflows totalled £130 million in the first quarter, too, as retail investor activity grew in response to resurgent markets last year. Equity markets saw serious drops in 2022 as a result of macroeconomic uncertainty and higher interest rates stoked by Russia's full-fledged invasion of Ukraine, which triggered a risk-off trade around the world.
Persons: Rafael Henrique, Freetrade, Adam Dodds, who've, Dodds, we've, Russia's Organizations: Getty, CNBC, Freetrade, Equity Locations: Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRobust earnings environment will ultimately drive stocks higher, says PIMCO's BrowneErin Browne, PIMCO, joins 'Closing Bell' to discuss Browne's thesis towards equity markets, where investors want to be in equities, and more.
Persons: PIMCO's Browne Erin Browne
Top Amazon exec says it's a 'myth' robots steal jobs
  + stars: | 2024-04-12 | by ( Ryan Browne | ) www.cnbc.com   time to read: 1 min
A robot prepares to pick up a tote containing product at the Amazon Robotics fulfillment center on April 12, 2019 in Orlando, Florida. A top Amazon executive told CNBC Thursday that it's a "myth" that robots and other technologies take jobs away from people. Stefano La Rovere, director of global robotics, mechatronics, and sustainable packaging at Amazon, said that, rather than replacing jobs, advanced robotics, artificial intelligence, and other technologies are enhancing people's roles. "It is a myth that technology and robots take out jobs," La Rovere told CNBC's "Street Signs Europe" on Thursday. Amazon says that the introduction of new technologies has enhanced more than 50,000 jobs across its fulfilment centers in Europe.
Persons: Stefano La Rovere, La Rovere, CNBC's Organizations: Robotics, Amazon, CNBC Locations: Orlando , Florida, Europe
Tyler Winklevoss and Cameron Winklevoss (L-R), co-founders of crypto exchange Gemini, on stage at the Bitcoin 2021 Convention in Miami, Florida. Cameron and Tyler Winklevoss, the billionaire twins known for suing Mark Zuckerberg for allegedly stealing their idea for Facebook, are investing millions of dollars into a small English soccer club. The twins, who today run the crypto exchange Gemini, announced Friday that they've invested $4.5 million worth of bitcoin in Real Bedford Football Club (RBFC), making it the "first football club powered by bitcoin," according to a statement Friday. RBFC, a non-league, semiprofessional club from Bedford, England, was purchased in 2022 by bitcoin investor and podcaster Peter McCormack. The latest deal will see the Winklevoss twins serve as co-owners of RBFC, alongside McCormack, a lifelong Bedford resident.
Persons: Tyler Winklevoss, Cameron Winklevoss, Cameron, Mark Zuckerberg, they've, RBFC, podcaster Peter McCormack, McCormack Organizations: Facebook, Real Bedford Football Club, Bedford, CNBC Locations: Miami , Florida, Real, Bedford , England, bitcoin
But her latest press tour is, well, a grand slam. Scroll to see Zendaya’s best looks from the “Challengers” press tour. Zendaya's press tour began with the Australian premiere of "Challengers" in Sydney on March 26. Emmanuel DunandAFP/Getty ImagesIn one of her more literal looks, Zendaya wore a custom Loewe dress to a photocall in Rome on April 8, clearly designed to mimic a classic tennis outfit with its pleated skirt and classic lined v-neck. Gareth Cattermole/Getty ImagesDuring the “Dune: Part Two,” press tour, Zendaya’s co-stars, including Florence Pugh, Rebecca Ferguson and Timothée Chalamet, matched her commitment to the sartorial ‘bit’ with their own red carpet wardrobes.
Persons: CNN — Zendaya, ” Zendaya, ” Law Roach, Zendaya’s, Thierry Mugler, ” Roach, Flavio Brancaleone, Louis, Emmanuel Dunand, Kristy Sparow, Louis Vuitton, Emmanuel DunandAFP, Zendaya, Daniele Venturelli, Calvin Klein, Vittorio Zunino Celotto, Thom Browne, Hoda Davaine, Dave Benett, Gareth Cattermole, Florence Pugh, Rebecca Ferguson, Timothée, , Josh O’Connor, Mike Faist, O’Connor, Tashi, Loewe, Jonathan Anderson —, Organizations: CNN, , British “ Vogue, US Vogue, British Vogue, Getty, Paris, Rome, Locations: British, Sydney, Paris, AFP, Rome
Nvidia founder and CEO Jensen Huang displays products onstage during the annual Nvidia GTC Conference at the SAP Center in San Jose, California, on March 18, 2024. Chipmaking giant Nvidia has entered "correction territory," with shares now down 10% from all-time highs. Nvidia GPUs are commonly used for compute-intensive AI applications, such as OpenAI's ChatGPT AI chatbot. It reported a 486% jump in non-GAAP earnings per diluted share in the December quarter, citing huge chips demand, thanks to the popularity of generative AI models. Shares are off 10% from their last all-time high close of $950 apiece, which they hit on March 25.
Persons: Jensen Huang Organizations: Nvidia, SAP Center Locations: San Jose , California, U.S
Binance CEO Richard Teng at the Paris Blockchain Week summit in Paris, France, on Tuesday, April 9, 2024. Binance's new CEO Richard Teng said the company has moved past cultural issues after the company was hit with a $4.3 billion fine to settle charges from the U.S. Justice Department. "But we have moved past that, as the company moved into regulatory maturity, [and] we are moving toward sustainability." In November, Binance agreed to pay a $4.3 billion settlement to the U.S. government, including a forfeiture of $2.5 billion and a fine of $1.8 billion. Former Binance CEO Changpeng Zhao was charged with violating the Bank Secrecy Act and agreed to step down.
Persons: Richard Teng, Binance, Teng, CNBC's Arjun Kharpal, Changpeng Zhao, Zhao Organizations: Paris, U.S . Justice Department, DOJ, ., U.S, BSA, Justice Department Locations: Paris, France, Binance, U.S
PARIS — Issuers of spot bitcoin exchange-traded funds cast doubt over the short-term likelihood of the U.S. Securities and Exchange Commission approving such a product for the cryptocurrency ether . The regulator has a late-May deadline to conclude its review on an ether ETF. That comes after the SEC in March delayed its original deadline for a decision on the ether ETF application. Enthusiasm has been mounting among the crypto community for an ether ETF, ever since the SEC approved the first spot bitcoin ETFs in January. This complicates matters for an ether ETF.
Persons: Cathy Wood, Jan Van Eck, CNBC's Arjun Kharpal, Van Eck, Gary Gensler, Jean, Marie Mognetti, CoinShares Organizations: PARIS, U.S . Securities, Exchange Commission, SEC, Fidelity, Ark, Paris, Invest, CNBC Locations: BlackRock, U.S, Paris, France
Mike Blake | ReutersThe CEO of blockchain startup Ripple sees the combined market capitalization of the cryptocurrency market topping $5 trillion this year. If the market were to double, that would imply a new total crypto market cap of $5.2 trillion. Bitcoin accounts for about 49% of the entire crypto market, with a market capitalization of $1.3 trillion as of April 1. This year being an election year, crypto hopefuls are optimistic that the next administration will be more accommodating to the crypto industry with its policy focus. Garlinghouse isnt the only crypto bull predicting outsized gains for the crypto market this year.
Persons: Brad Garlinghouse, Mike Blake, Ripple's Brad Garlinghouse, I've, Garlinghouse, Gary Gensler, Ripple, Marshall Beard, there's, Beard, Anthony Pompliano Organizations: Milken, Global Conference, CNBC, U.S . Securities, Exchange Commission, SEC Locations: Beverly Hills , California, U.S, United States, London
State actors have since made routine attacks in various countries to manipulate the outcome of elections, according to cyber experts. "Right now, generative AI can be used for harm or for good and so we see both applications every day increasingly adopted," Meyers told CNBC. "This democratic process is extremely fragile," Meyers told CNBC. "You can train those voice AI models very easily ... through exposure to social [media]," Holmes told CNBC in an interview. It's just one example of many deepfakes that have cybersecurity experts worried about what's to come as the U.K. approaches elections later this year.
Persons: Andrew Brookes, Rishi Sunak, Todd McKinnon, Okta's McKinnon, We're, Adam Meyers, CrowdStrike, Meyers, Dan Holmes, Holmes, Keir Starmer, what's Organizations: Getty, Britain, CNBC, British, U.S, APT, New Zealand, Labour Party, Local, Facebook, Meta, Google Locations: Russian, Moscow, London, Wuhan, U.S, Australia, New, China, cybersecurity, Russia, Iran
Charles McManus, CEO of ClearBank, speaks at the Innovate Finance Global Summit in April 2023. ClearBank, a British financial technology firm powering payments for the likes of Coinbase, scored its first full year of profit after higher interest rates helped drive a 91% jump in revenues. The firm swung to an £18.4 million ($23.3 million) pre-tax profit in the year ending Dec. 31, 2023, according to financial statements released Thursday. ClearBank's first profit comes on the back of a near doubling of its total income. ClearBank saw overall revenue jump 91% year over year in 2023 to £111.3 million.
Persons: Charles McManus, Coinbase, ClearBank, McManus, We've Organizations: ClearBank, Global Summit, London, CNBC Locations: British
The firm said it has been registered in Ontario as a restricted dealer under the Canadian Securities Administrators (CSA), an umbrella organization of Canada's provincial and territorial securities regulators. The crypto exchange said that this authorization means the company now meets the Canadian regulators' strict requirements for crypto assets dealings and can operate legally in the country. The policy changes led Binance, the world's largest crypto exchange by trading volumes, to quit its activity in Canada, saying it was "no longer tenable" to operate there. Rival crypto exchange Kraken said last year that it had filed a pre-registration undertaking (PRU) with the Ontario Securities Commission, effectively starting the process to become a registered dealer in Canada. The company says it is the first international crypto exchange to receive restricted dealer registration in Canada.
Persons: Coinbase, Kraken Organizations: Getty, CNBC, Canadian Securities Administrators, Ontario Securities Commission Locations: Suqian, Jiangsu Province, China, Canada, U.S, Ontario
Jakub Porzycki | Nurphoto | Getty ImagesCrypto startup Ripple is the latest major player to jump into the $150 billion stablecoin market with the launch of a digital currency pegged to the U.S. dollar. The move would pit Ripple against stablecoin giants like Tether, which is behind the largest stablecoin UDST, and USDC issuer Circle. Payments giant PayPal , meanwhile, launched its own U.S. dollar stablecoin called PayPal USD, a stablecoin backed by U.S. dollars and dollar equivalents that is issued by crypto firm Paxos. watch nowTether is the market leader for stablecoins with a market capitalization of $106.3 billion, according to CoinGecko data. "In fact, the number one request we get from the XRP community is to launch a USD-backed stablecoin on the XRP Ledger."
Persons: Jakub Porzycki, Brad Garlinghouse, he's, Garlinghouse, Tether's, USDT, USDC, MoneyGram Organizations: U.S, SEC, Nurphoto, Getty, U.S ., PayPal, CNBC, Bank, FinCEN, Santander, U.S . Securities, Exchange Commission, Southern, of Locations: U.S, Europe, Asia, New York, Ireland, Singapore, of New York
Mathisworks | Digitalvision Vectors | Getty ImagesLegal technology firm Luminance has raised $40 million in fresh funding from investors to grow its U.S. footprint, capitalizing on the wave of investor interest surrounding artificial intelligence. The company told CNBC that it raised the fresh capital in a Series B funding round led by U.S. venture fund March Capital. "We had lots of interest from lots of VCs," Eleanor Lightbody, CEO of Luminance, told CNBC in an interview on Tuesday. Lightbody said that businesses are investing in AI tools like Luminance's to keep a competitive edge, as well as to reduce costs. Luminance is one firm of the many generating buzz from investors thanks to the hype swirling around artificial intelligence.
Persons: Slaughter, Eleanor Lightbody, Lightbody Organizations: CNBC, U.S, National Grid Partners, National Grid, Koch Industries, Hitachi, Yokogawa, Liberty Mutual, LG Chem, BBC Studios, University of Cambridge, Companies, Mistral, Microsoft, Amazon, Investors
Troy Nelson and his younger brother Andrew were almost inseparable. Near their home, there is a park bench on which they carved their initials as young boys. The Nelson brothers never married or had children. On Feb. 28, Andrew Nelson, who had been treated for cancer for years, went to feed the chickens and ducks that were gifts from Ms. Browne to her brothers. Just hours later, Troy Nelson, who was stricken with grief, took his own life.
Persons: Troy Nelson, Andrew, Nelson, ” Evan Browne, Andrew Nelson, Browne Locations: Bremerton, Wash
Britain's financial services regulator announced guidelines for financial services companies and social media influencers making memes about cryptocurrencies and other investments in a bid to tackle a rise in scams. The Financial Conduct Authority said in a statement Tuesday that any marketing for financial products — including those expressed in memes — should be fair, clear, and not misleading. The watchdog said that financial social media influencers, or "finfluencers," must have the approval of an FCA-appointed representative before publishing advertisements and memes about financial products and services, the FCA said. We will take action against those touting financial products illegally," Lucy Castledine, director of consumer investments at the FCA, said in a statement Tuesday. The FCA said that, in 2022, it took down over 10,000 misleading adverts about financial services.
Persons: Lucy Castledine Organizations: Financial, Authority, FCA
The Alibaba Group company logo is displayed on a screen at the New York Stock Exchange during morning trading on February 14, 2024 in New York City. Alibaba on Tuesday said it was scrapping a planned initial public offering for its smart logistics unit Cainiao, adding to recent woes for the former Chinese tech darling. The shelving of the planned IPO — which would have been a boon to Alibaba, handing it an injection of cash with a key exit deal — comes after deteriorating market conditions in China. In a press release Tuesday, Alibaba said that it was withdrawing its IPO and listing application for Cainiao, and would also buy the remaining shares of the company it does not already currently own. Cainiao, which Alibaba first launched in May 2013, provides warehousing and fulfillment services, last-mile delivery and pick-up posts, and reverse logistics to customers of Alibaba's Taobao and Tmall e-commerce sites.
Persons: , Alibaba, Joe Tsai Organizations: Alibaba Group, New York Stock Exchange, Investors, Baidu, U.S, Dow Jones Industrial, Tech Locations: New York City, Alibaba, China, U.S, Cainiao, Hong Kong
BeeBright | Getty ImagesLONDON — The U.S. and U.K. on Monday accused hackers linked to the Chinese state of being behind "malicious" cyber campaigns targeting political figures, in moves expected to stoke tensions with Beijing. The British government also alleged that China-affiliated hackers were behind an attack that saw the data of millions of voters accessed. "I can confirm today that Chinese state-affiliated actors were responsible for two malicious cyber campaigns targeting our democratic institutions and parliamentarians," British Deputy Prime Minister Oliver Dowden said in a speech to Parliament on Monday. "We want now to be as open as possible with the House and the British public," Dowden said. U.S. hits out at ChinaSeparately, the U.S. Justice Department unsealed an indictment Monday accusing Chinese state-linked hackers of being behind cyber campaigns targeting U.S. businesses, government officials and politicians.
Persons: Oliver Dowden, Dowden, Ni Gaobin, Weng Ming, Cheng Feng, Peng Yaowen, Xiong Wang, Zhao Guangzong, Merrick B, Garland Organizations: Getty, stoke, Electoral, Electoral Commission, Embassy, Google, APT31, U.S . Justice Department, DOJ Locations: U.S, Beijing, China, Britain, APT31 ., United States
When four men were detained by the Russian authorities in connection with the massacre at a concert hall outside Moscow last week, they were dressed in the same attire as the assailants seen in videos of the attack, according to a New York Times analysis of footage from the hall, social media profiles and images leaked or released by Russia. The identical clothing and other corresponding details suggest they carried out the attack. A video of one of the suspects being detained, for instance, shows him wearing a light brown T-shirt with a distinctive logo on the left breast and pants with a Boss label: Those details match the clothes worn by a gunman in propaganda footage of the attack released by the Islamic State, a.k.a. In addition, the Times analysis shows, the car that the suspects were driving when they were apprehended is the same color and type as one seen in footage from outside the concert hall during the attack.
Organizations: New York Times, Islamic, a.k.a, ISIS Locations: Moscow, Russia, Islamic State
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