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A U.S. judge said on Thursday that Ripple Labs Inc did not violate securities law by selling its XRP token on public exchanges. Although the decision was specific to the individual case, it unleashed a wave of optimism among crypto investors that more cryptocurrencies may also not be deemed securities. Still, the enthusiasm for some was tempered by a report from the Wall Street Journal that Binance, the world's largest cryptocurrency exchange, has laid off more than 1,000 people in recent weeks. "The regulatory environment is changing," said Matthew Dibb, chief investment officer at crypto asset manager Astronaut Capital. Still, crypto investors have taken encouragement from the world's biggest asset manager, BlackRock (BLK.N), filing to launch a bitcoin exchange traded fund last month.

Persons: XRP, Coinbase, Bitcoin, Matthew Dibb, Justin d'Anethan, Binance.US, bode, Sam Bankman, Alex Mashinsky, Patrick Hillmann, Hillmann, We'd, Chris Weston, it's, Vidya Ranganathan, Simon Cameron, Moore, Alex Richardson, Josie Kao Organizations: Labs, U.S . Securities, Exchange Commission, Wall Street, Capital, SEC, U.S, Wall, Twitter, BlackRock, Fidelity, Thomson Locations: SINGAPORE, WASHINGTON, U.S, California , New Jersey, South Carolina, Wisconsin, Asia, Keyrock, Hong Kong, XRP, reining, China, Binance, Melbourne, Singapore

☆ UK extends Activision deadline after receiving Microsoft's 'complex' proposal
▼ + stars: | 2023-07-14 | by ( Paul Sandle | ) www.reuters.com time to read: +3 min

The U.S. Federal Trade Commission is also opposed, but it suffered a major defeat on Tuesday when a federal court ruled in favour of Microsoft. It is battling on and filed an emergency motion to an appeals court requesting a "temporary pause" to the deal closing late on Thursday. Yet on Tuesday, less than an hour after a U.S. federal court ruled the deal could go ahead, the CMA said it could look again at a modified proposal. A Bloomberg report said Microsoft and Activision were considering giving up some control of their cloud-gaming business in Britain to appease the CMA. Additional reporting by Muvija M; editing by Jason Neely and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Brad Smith, Jeremy Hunt, Smith, Gareth Mills, Charles Russell Speechlys, They'll, Muvija, Jason Neely, Louise Heavens Organizations: CMA, Microsoft, Activision, Markets Authority, U.S . Federal Trade Commission, Bloomberg, Thomson Locations: Britain, EU

☆ The Nasdaq-100 index is getting a makeover. Here's how
▼ + stars: | 2023-07-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —The Nasdaq-100 index is getting a fresh look. What happened: The index comprises 100 of the largest non-financial companies listed on the Nasdaq. Seven companies listed in the Nasdaq-100 accounted for roughly 51% of the index as of June 3, according to a note by Louis Navellier, chairman of Navellier & Associates. The Nasdaq is looking to fix that problem – without changing any of the stocks in the index. Nasdaq won’t remove or add any stocks to the index during this rebalance, according to the release.

Persons: Louis Navellier, Apple, Donald Calcagni, ”, What’s, Cameron Lilja, Bob Iger, Ron DeSantis, Tucker Carlson, ” Iger, Read, Hanna Ziady Organizations: CNN Business, Bell, CNN, Nasdaq, Navellier, Associates, Microsoft, Nvidia, Tesla, Apple, Mercer Advisors, Stocks, Florida Gov, Disney, Fox News, CNBC, McKinsey Global Institute Locations: Europe, Florida

☆ Germany urges companies to 'de-risk' from China, emphasizes it is not seeking a decoupling
▼ + stars: | 2023-07-14 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Germany said there is an urgent need for companies to de-risk from China, while "not pursuing a decoupling" of economies. "For Germany, China remains a partner, a competitor, a systemic rival. The minister was presenting the country's strategy on China and explaining how the country plans to protect its interests. "China's economic strategy aims to make it less dependent on other countries, while making international production chains more dependent on China," the foreign ministry said in a 64-page report published Thursday. "In terms of foreign policy, China is pursuing its own interests far more assertively and is attempting in various ways to reshape the existing rules‑ based international order.

Persons: Olaf Scholz, Li Qiang, Annalena Baerbock Organizations: Mercator Institute for China Studies Locations: Berlin, Germany, China, Europe

European travellers are already on high alert over worries about air traffic control problems arising from both the reduced air space available due to the Ukraine war, plus staffing issues and industrial action at some locations. "Given the scale of the industrial action, disruption, delays and cancellations are inevitable across the airport," Unite said in its statement. Concerns over air traffic control delays already prompted easyJet to axe 2% of its summer flight schedule, mostly from Gatwick, on Monday. On the strike-affected days, 4,410 flights are due to depart from Gatwick, equating to over 840,000 potential passengers, according to aviation analytics firm Cirium. Britain's busiest hub, Heathrow Airport, agreed a pay deal with security workers in June, avoiding multiple days of walk-outs throughout the summer which had been planned by Unite.

Persons: EasyJet, easyJet, William James, Sarah Young, Sachin, Mark Potter Organizations: Gatwick, Menzies Aviation, DHL Services, Gatwick's, British Airways, DHL, Airlines, Financial Times, Heathrow Airport, Unite, Thomson Locations: Ukraine, London, TUI, Gatwick, Europe

☆ Chinese military’s three-day show of force increases headache for Taiwan
▼ + stars: | 2023-07-14 | by ( Brad Lendon | ) edition.cnn.com time to read: +6 min

The People’s Liberation Army (PLA) activity has a range of implications, none of them positive for Taiwan or cross-strait stability, analysts say. The PLA aircraft detected this week included fighter jets, H-6 bombers, anti-submarine warning aircraft and reconnaissance drones, Taiwan’s Defense Ministry said. Their response underscores the problem that increased PLA activity poses to Taiwan, said Carl Schuster, a Hawaii-based analyst and former director of operations at the US Pacific Command’s Joint Intelligence Center. “Beijing hopes Taipei will just accept unification as inevitable and allow Chinese forces in without resistance. A Chinese fighter jet refuels during military exercises near Taiwan on April 12, 2023.

Persons: CNN —, China’s, Carl Schuster, ”, “, –, Joe Biden, ” Schuster, hasn’t, Defense Lloyd Austin Organizations: CNN, People’s Liberation Army, PLA, Taiwan’s Defense Ministry, Communist Party, Pacific Command’s Joint Intelligence Center, Taiwan Relations, Washington, PLA buildups, US, AP, ” “ Forces, Times, US Navy, Fleet, United, Eastern Theater Command, Defense Locations: Taiwan, Beijing, Hawaii, Taipei, Washington, Xinhua, Taiwan Strait China, Japan, States, United States, China

☆ Roivant in talks to sell bowel disease drug to Roche in over $7 bln deal - WSJ
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Biotech company Roivant Sciences (ROIV.O) is nearing a deal to sell an experimental drug to treat inflammatory bowel diseases including ulcerative colitis and Crohn's disease to Roche (ROG.S) in a deal that could be valued at more than $7 billion, the Wall Street Journal reported on Thursday. The sale of the drug could be announced in the coming days, the report said, citing people familiar with the matter. Roivant's experimental drug, RVT-3101, is under clinical trials for the treatment of moderate-to-severe ulcerative colitis, a long-term condition where the colon and rectum become inflamed, as well as a type of inflammatory bowel disease known as Crohn's disease. Roivant declined to comment, whereas Roche did not immediately respond to a Reuters request for comment. Reporting by Shivani Tanna and Sriparna Roy in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Roche, Roivant, Shivani Tanna, Sriparna Roy, Shailesh Organizations: - Biotech, Roivant Sciences, Wall Street, Thomson Locations: Bengaluru

☆ Alibaba's Ele.me platform signs wages, safety contracts as tech crackdown ends - media
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 13 (Reuters) - Alibaba's Ele.me on Thursday became China's first delivery platform to sign collective contracts on wages and labour safety with its staff, official media reported, as Beijing signals an end to its crackdown on the tech sector. The contracts will apply to 3 million workers on the platform across 11,000 delivery stations in China, according to state-backed media Workers' Daily. The contracts "fully addressed" workers' biggest issues such as labour remuneration, protection and insurance benefits, the report said. Ele.me and service providers are also required to improve communication channels with food delivery couriers, the report added. Reporting by Brenda Goh in Shanghai and Ethan Wang in Beijing; editing by Jason Neely and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Alibaba, Ele.me's, Premier Li Qiang, Meituan, Brenda Goh, Ethan Wang, Jason Neely, Devika Organizations: Workers, Premier, Thomson Locations: BEIJING, Beijing, China, Shanghai

☆ McDonald's China owners Carlyle, Trustar plan $4 billion exit - Bloomberg News
▼ + stars: | 2023-07-13 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

The logo of McDonald's is seen at its restaurant in Hong Kong, China August 27, 2021. REUTERS/Tyrone Siu/File Photo(Reuters) -Carlyle Group Inc and Trustar Capital are planning to raise $4 billion from wealth funds to buy part of their stakes in McDonald’s Corp operations in Hong Kong and mainland China, Bloomberg News reported. All stakeholders are highly aligned on the process,” McDonald’s China said in an emailed response to Reuters on Thursday. The asset managers aim to reach an agreement with investors in the fourth quarter of this year, the report added. Reuters had reported in April citing two people with knowledge of the matter that the U.S.-based private equity firm was discussing various options including setting up a continuation fund with financial advisers for its stake in McDonald’s China.

Persons: Tyrone Siu, Carlyle, Mubadala, GIC Organizations: REUTERS, Carlyle Group Inc, Trustar, McDonald’s Corp, Bloomberg News, Reuters, McDonald’s, Shareholders, Mubadala Investment, GIC Locations: Hong Kong, China, McDonald’s China, U.S

☆ Ukrainian civilians imprisoned by Russia are being treated like livestock and forced to dig mass graves, report says
▼ + stars: | 2023-07-13 | by ( Sonam Sheth | Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Ukrainian civilians imprisoned by Russia are being forced to dig mass graves, the AP reported. "This means that a window of opportunity is being left to bargain Ukraine's membership in NATO in negotiations with Russia," Zelenskyy continued. Ukrainian civilians have reported family members missing since the early months of Russia's unprovoked military invasion last year. The Ukrainian government now believes Russia has detained a total of about 10,000 civilians, Oleksandr Kononeko, a prisoner exchange negotiator, told AP. She also was beaten and forced to provide statements to a Russian news outlet to show that Moscow was releasing Ukrainian civilians, AP reported.

Persons: They're, Volodymyr Zelenskyy, Zelenskyy, Oleksandr Kononeko, Olena, Yahupova Organizations: AP, NATO, Service, Associated Press, Ukraine, Alliance, United Locations: Russia, Zaporizhzhia, Wall, Silicon, Ukrainian, gunpoint, Ukraine, NATO, United Nations, Russian, Moscow

☆ Uninsured US patients pay up to $330 for Eli Lilly’s $25 insulin, Senator Warren says
▼ + stars: | 2023-07-13 | by ( Patrick Wingrove | ) www.reuters.com time to read: +3 min

Warren’s survey of chain and independent pharmacies across all 50 states, carried out between June 9 and 28, found a third of drug stores charged $164 or more to uninsured patients for Lilly’s Insulin Lispro. Lilly said at the time it would drop the price of its Lispro insulin injection, a generic version of its own branded Humalog, to $25 a vial. The senator’s office found chain stores charged uninsured customers an average of $123 per vial for the generic insulin, compared to $63 at independent pharmacies. “This is a deeply troubling finding, revealing that the pharmacies offering the most affordable Insulin Lispro were the least likely to have it in stock,” the report said. Around 8.4 million of the 37 million people in the United States with diabetes use insulin, according to the American Diabetes Association.

Persons: Eli Lilly, George Frey, Eli, Elizabeth Warren’s, Lilly, Joe Biden’s, drugmaker, Warren, Patrick Wingrove, Caroline Humer, Bill Berkrot Organizations: Company, REUTERS, Novo Nordisk, Sanofi, U.S, National Community Pharmacists Association, Democrat, Walgreens Boots Alliance, Walmart, Rite, CVS Health, Aid, CVS, Walgreens, Rite Aid, American Diabetes Association, Thomson Locations: Provo , Utah, U.S, Indianapolis, United States, New York

☆ Russia is sending 'disposable' soldiers to fight Ukraine high on amphetamines to ensure they "still run at machine guns,' military expert says
▼ + stars: | 2023-07-13 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Russian soldiers are going into battle high on drugs, according to a recent report. "This is what some institutions do to make sure their soldiers still run at machine guns," Mick Ryan said. Material recovered from the battlefield suggests Russian soldiers are most likely taking the substances in liquid form, the report said. A UK intelligence update in April suggested Russian soldiers are dying in Ukraine as a result of alcoholism. "Sometimes you replace good purpose and good leadership and good team building with drugs," Ryan told Insider.

Persons: Mick Ryan, it's, Ryan, — Organizations: Service, Russia, Royal United Service Institute, Ukrainian, Donetsk People's, Wagner Group, Australian Army, CNN Locations: Wall, Silicon, Ukraine, Russian, Luhansk, Donetsk, East Timor, Vietnam, Russia

☆ McDonald's China owners Carlyle, Trustar plan $4 bln exit - Bloomberg News
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Carlyle Group Inc (CG.O) and Trustar Capital are planning to raise $4 billion from wealth funds to buy part of their stakes in McDonald's Corp (MCD.N) operations in Hong Kong and mainland China, Bloomberg News reported. All stakeholders are highly aligned on the process," McDonald's China said in an emailed response to Reuters on Thursday. The asset managers aim to reach an agreement with investors in the fourth quarter of this year, the report added. Carlyle declined to comment, while GIC did not immediately respond to a Reuters request for comment. Reuters had reported in April citing two people with knowledge of the matter that the U.S.-based private equity firm was discussing various options including setting up a continuation fund with financial advisers for its stake in McDonald's China.

Persons: Carlyle, Mubadala, GIC, Shubhendu Deshmukh, Brenda Goh, Urvi, Rashmi Organizations: Carlyle Group Inc, Trustar, McDonald's Corp, Bloomberg News, Reuters, McDonald's, Shareholders, Mubadala Investment, GIC, Thomson Locations: Hong Kong, China, McDonald's China, U.S, Bengaluru

☆ Prigozhin outsourced violent beatings of those who angered him to a man dubbed 'The Teacher,' who'd then send him photos: report
▼ + stars: | 2023-07-13 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +2 min

Wagner boss Yevgeny Prigozhin had a man dubbed "The Teacher" who beat up employees, according to The Project. "The Teacher" beat up people who'd fallen out of favor in a basement, the report said. An ex-staffer told the outlet he would send Prigozhin photos to see if the beatings should continue. A man dubbed "The Teacher" beat up employees in a basement in Prigozhin's office, according to the report. The Wagner Group gained global attention for its brutal tactics and for its role in the conflict in Ukraine, where it sent thousands of mercenaries and released prisoners.

Persons: Wagner, Yevgeny Prigozhin, Vladimir Putin, Vyacheslav Tarasov, you've, Prigozhin, Putin Organizations: Service, Wagner Group, Independent, Kremlin Locations: Wall, Silicon, Independent Russian, Ukraine, Africa, Prigozhin, Russian, Moscow, Belarus

☆ Tesla in talks with India to set up factory with up to 500,000 annual capacity - report
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

Companies Tesla Inc FollowBENGALURU, July 13 (Reuters) - Tesla (TSLA.O) has begun discussions with the Indian government for an investment proposal to set up a car factory in the country, with an annual capacity of as many as 500,000 electric vehicles, the Times of India reported on Thursday. The prices for the vehicles will start from 2 million rupees ($24,400.66), the report added. The discussions with the Indian government show a shift in strategy for the U.S. electric car maker. Last year, talks stalled after the Indian government refused to agree to a request from Tesla seeking lower import taxes on cars, which can be as much as 100%. India has strong potential for a sustainable energy future including solar power, stationary battery packs and electric vehicles, Musk said after meeting Modi, adding he hopes to bring SpaceX's Starlink satellite internet service to the country as well.

Persons: Elon Musk, Tesla, Musk, Narendra Modi, Modi, Rama Venkat, Sonia Cheema Organizations: Tesla, Reuters, U.S, Indian, Thomson Locations: India, Bengaluru

☆ Taylor Swift's impact on the economy has caught the eye of the Fed
▼ + stars: | 2023-07-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stunning success of Taylor Swift's Eras tour has had a noticeable impact on the economy. The Federal Reserve highlighted the impact of Swift's three Philadelphia concerts in its most recent beige book. The tour, which has attracted hundreds of thousands of Taylor Swift fans to cities across the country, has helped boost hotel revenues considerably, especially in Philadelphia. "The totality of Taylor Swifts' U.S. tour could generate $4.6 billion in total consumer spending, larger than the GDP of 35 countries," the Common Sense Institute said. So if the economy manages to avoid a recession that so many are worried about, the US may have Taylor Swift and her deeply loyal fans partly to thank.

Persons: Taylor, Swift, Taylor Swift Organizations: Federal Reserve, Service, Federal, Lincoln Financial, Kansas City, Taylor Swifts, Institute Locations: Wall, Silicon, Philadelphia, Pennsylvania, Pittsburgh, Booking.com, Pittsburgh , Minneapolis, Kansas, Allegheny County, Denver , Colorado, Denver, U.S

☆ Microsoft, Activision weigh sale of some UK cloud-gaming rights - Bloomberg News
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Microsoft Corp (MSFT.O) and Activision Blizzard (ATVI.O) are considering giving up some control of their cloud-gaming business in the UK to appease regulators so they can complete their $69 billion merger, Bloomberg News reported on Thursday. The sale could involve the cloud-based market rights for games in the UK to a telecommunications, gaming or internet-based computing company, the report said, citing people familiar with the matter. Britain's competition regulator said on Wednesday a restructured deal between the companies could satisfy its anti-competition concerns regarding the merger, subject to a new investigation. Microsoft and Activision did not immediately respond to Reuters' request for comment. Reporting by Lavanya Ahire in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Lavanya, Sherry Jacob, Phillips Organizations: Microsoft Corp, Activision Blizzard, Bloomberg, Microsoft, Activision, Reuters, Thomson Locations: Bengaluru

☆ India considers banning most rice exports - Bloomberg news
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: 1 min

July 13 (Reuters) - India, the world's biggest rice exporter, is considering banning exports of most rice varieties, Bloomberg News reported on Thursday. The government is discussing a plan to ban exports of all non-Basmati rice, the report said, citing people familiar with the matter. Reporting by Yana Gaur in Bengaluru; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Yana Gaur, Himani Sarkar Organizations: Bloomberg, Thomson Locations: India, Bengaluru

☆ Global public debt hits record $92 trillion, UN report says
▼ + stars: | 2023-07-12 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +3 min

LONDON, July 12 (Reuters) - Global public debt surged to a record $92 trillion in 2022 as governments borrowed to counter crises, such as the COVID-19 pandemic, with the burden being felt acutely by developing countries, a United Nations report said. Developing countries owe almost 30% of the global public debt, of which 70% is represented by China, India and Brazil. Fifty-nine developing countries face a debt-to-GDP ratio above 60% - a threshold indicating high levels of debt. Private creditors, such as bondholders and banks, represent 62% of developing countries' total external public debt. Reporting by Jorgelina do Rosario, additional reporting by Michelle Nichols at the United Nations, editing by Karin Strohecker and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Antonio Guterres, Jorgelina, Michelle Nichols, Karin Strohecker, Sharon Singleton Organizations: Global, United, UN, United Nations, Monetary Fund, Group, Thomson Locations: United Nations, China, India, Brazil, Africa, America, Paris, Rosario

☆ Renters are being hit harder by inflation than homeowners
▼ + stars: | 2023-07-12 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Renters and homeowners are experiencing inflation differently, according to new data from Bank of America — and, unsurprisingly, renters are taking the hit. Secondly, even if a typical mortgage payment is higher than a typical monthly rent payment, because renters’ income tends to be less than homeowners, more renters put a larger share of their income toward rent than homeowners put toward mortgage payments. Restaurants are the only sector where homeowners and renters are both still showing an increase in spending from last year, and homeowners significantly outpace renters. Even controlling for income — which is necessary because renters tend to have lower incomes than homeowners — renters are showing less spending strength than homeowners in their same income group in most spending categories. Looking ahead, however, this wedge between the spending of renters and homeowners may narrow, the report points out.

Persons: Bank of America —, Freddie Mac’s, —, Freddie Mac Organizations: DC CNN, Bank of America, Consumer, Federal Reserve, Joint Center for Housing Studies, Harvard University Locations: Washington

☆ North Korea says longest test launch was latest Hwasong-18 ICBM
▼ + stars: | 2023-07-12 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

[1/5] Hwasong-18 intercontinental ballistic missile is launched from an undisclosed location in North Korea in this image released by North Korea's Korean Central News Agency on July 13, 2023. KCNA via REUTERSSEOUL, July 13 (Reuters) - North Korea tested its latest Hwasong-18 intercontinental ballistic missile (ICBM) on Wednesday, its state media reported, saying the weapon is the core of its nuclear strike force and a warning to the United States and other adversaries. North Korean leader Kim Jong Un oversaw the test, and said the country would take increasingly strong measures to protect itself until the U.S. and its allies drop their hostile policies, the report said. The Hwasong-18's 74-minute flight time was the longest ever for a North Korean missile test, KCNA said, adding the second and third stages were flown on a lofted trajectory to a high altitude for safety. North Korea said the missile flew 1,001 km (622 miles) to an altitude of 6,648 km.

Persons: KCNA, Kim Jong Un, Soo, hyang Choi, Josh Smith, Jamie Freed, David Gregorio Our Organizations: North, Korean Central News Agency, KCNA, REUTERS, U.S, Washington, Korean, Thomson Locations: North Korea, REUTERS SEOUL, United States, South Korea, Japan, Seoul, Tokyo, Republic, U.S, Japan's

☆ Russia wants to tempt back the talented youth who ditched it for invading Ukraine, but hasn't figured out how, report says
▼ + stars: | 2023-07-12 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Thousands, if not millions, of Russians have fled the country since it invaded Ukraine last year. Russian officials are now trying to get them to return, The Moscow Times reported. Now Russian officials are trying to lure them back, The Moscow Times reported. One politician suggested that Russians who come back should be investigated for treason, the report highlighted as an example. The Moscow Times reported that this prompted more Russian officials to make new open calls for citizens to come back.

Persons: Vladimir Putin, they've Organizations: Moscow Times, Service, UK Ministry of Defence Locations: Ukraine, Wall, Silicon, Russia

☆ Tax prep companies shared private taxpayer data with Google and Meta for years, congressional probe finds
▼ + stars: | 2023-07-12 | by ( Brian Fung | ) edition.cnn.com time to read: +10 min

Some of the tax-prep companies still do not know whether the data they shared continues to be held by the tech platforms, the report said. The Warren aide told CNN it was unclear whether Meta knew it was inappropriately using taxpayer data at the time. The investigation found that all three tax-prep companies had discontinued their use of Meta’s pixel after The Markup’s report last November. “The scope of ‘taxpayer information’ is broad by design,” Rosenthal said, adding that tax-prep companies can be sued for “knowingly” or “recklessly” leaking that information. Depending on the strength of the allegations, the tax-prep companies could quickly be forced into a binding settlement, said a former FTC official who requested anonymity in order to speak more freely.

Persons: “, ”, David Vladeck, Vladeck, Democratic Sen, Elizabeth Warren, Meta, Warren, ‘, Sens, Ron Wyden, Richard Blumenthal, Tammy Duckworth, Sheldon Whitehouse, Sen, Bernie Sanders, Katie Porter, TIGTA didn’t, Block, TaxSlayer didn’t, TaxAct, TaxSlayer, TurboTax, Steven Rosenthal, ” Rosenthal Organizations: CNN, Meta, Google, Georgetown University, Federal Trade Commission, Democratic, FTC, Internal Revenue Service, Justice Department, Tax Administration, Intuit, IRS, Urban, Brookings Tax Locations: United States, Google’s

☆ Sony to boost gaming unit with $2.17 bln R&D war chest for 2024 - Nikkei
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Sony Group (6758.T) will infuse 300 billion yen ($2.17 billion) to expedite research and development efforts for its gaming segment for 2024, to catch up with its competitor Microsoft (MSFT.O), the Nikkei reported on Thursday. Sony will now aim to focus on live service games that let customers purchase add-ons for titles streamed online, moving away from its sole reliance on sales of its PlayStation game console, Nikkei said. The technology and entertainment conglomerate is expected to spend about 760 billion yen for company-wide R&D for fiscal 2024, the report said. Sony plans to have 12 live service game titles in its portfolio by fiscal 2026, up from just one in fiscal 2021, the Nikkei added. "We will continue to make strategic investments going forward, prioritizing intellectual property," Nikkei quoted Sony Group president Hiroki Totoki.

Persons: Hiroki Totoki, Roushni Nair, Shailesh Organizations: Sony Group, Microsoft, Nikkei, Sony, PlayStation, Gaming, Activision Blizzard, Thomson Locations: Bengaluru

☆ Vietnam's digitalization efforts fuel startup scene
▼ + stars: | 2023-07-12 | by ( Nyshka Chandran | ) www.cnbc.com time to read: +2 min

Vietnam's tech startups are reaping the benefits as the country sets its sights on becoming a fully digital society by 2030. In 2021, new startup support centers Hanoi, Da Nang and Ho Chi Minh City were announced. It ranked third in terms of deal count in Southeast Asia, and fourth in deal value last year, the report said. Notably, domestic funds were the top investors in local startups last year, accounting for 45% of total deal value. However, the total value of investment in Vietnamese startups was only $634 million in 2022 — down 56% year-on-year from the record high of $1.4 billion in 2021, the report noted.

Persons: Momo, Sky Mavis Organizations: French IT, World Bank, Ventures, National Innovation Center, Ministry of Planning, Investment Locations: French, Ho Chi Minh City, Silicon, Hanoi, Da, Southeast Asia

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