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☆ Elon Musk is going to try courting advertisers. Again.
▼ + stars: | 2024-06-11 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Elon Musk, who has a ... complicated relationship with advertisers, is going to appear at a big ad conference. It's pretty standard for tech companies to court advertisers at the Cannes Lions event in France. AdvertisementLast fall Elon Musk told advertisers to go fuck themselves. Maybe he has a different message now: The man who bought Twitter, turned it into "X," and saw his advertising revenue plummet, is heading to the Cannes Lions ad summit in France next week. WPP, one of the world's biggest ad companies, said Musk will appear at an event with WPP CEO Mark Read on June 18.

Persons: Elon Musk, —, Mark Read Organizations: Cannes Lions, Service, Twitter, WPP Locations: France

☆ Beyond the Magnificent 7: Morgan Stanley fund manager says diversify with these 2 stocks
▼ + stars: | 2024-06-10 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

But this heavy focus on just a few stocks has led one portfolio manager to urge investors to diversify, naming two stocks he thinks look particularly attractive. Dunn, who also holds the title of co-head of value equity at Morgan Stanley, said other stocks offered investors "a lot of opportunity," naming two he likes. Thermo Fisher Scientific Healthcare services and biotechnology company Thermo Fisher is another favorite for Dunn, who sees it as an industry leader and "supermarket of tools and analytics." "We think [Thermo Fisher is] really ready to sort of benefit from this as the year progresses." Shares in Thermo Fisher are up around 9.5% year-to-date and 12.8% in the last 12 months.

Persons: Nvidia, Aaron Dunn, CNBC's, Dunn, Morgan Stanley, They've, BJ's Organizations: Big Tech, Apple, Meta, Microsoft, Tesla, Morgan, Value, Costco Wholesale, Walmart, Sam's, Fisher Scientific Healthcare, . Value Locations: Morgan Stanley's, U.S, Fisher

☆ An inside look at the weekend the GameStop frenzy began on WallStreetBets
▼ + stars: | 2024-06-10 | by ( Nathaniel Popper | ) www.businessinsider.com time to read: +19 min

Like Tesla and Palantir, GameStop was a popular stock to short among hedge funds, though GameStop took it to a whole new level. "That's how I feel about these GME posts that are using the 'P' and get in so we can cause an 'S' words that are no-nos." That was enough to make WallStreetBets the seventh-largest holder of GameStop stock, ahead of some of the big Wall Street investment firms that had shown interest in the stock. AdvertisementOn WallStreetBets, Alzmann shared the growing evidence that Cohen was indeed planning to take a more active role at GameStop. AdvertisementBut when Cramer dug into the conversation happening around GameStop on WallStreetBets, he saw that something new and more sophisticated was happening.

Persons: GameStop, Jaime Rogozinski, Tesla, Jordan Zazzara, I've, Zazzara, Ryan Cohen, Andrew Left, ahem Citron, PLTR, here's, Citron, We're, WallStreetBets, Uberkikz11, I'm, Ryder, Rod Alzmann, Bolt, Alzmann, Kitty, Roaring Kitty, StockTwits, lockdowns, Nathaniel Popper, Harper Collins, Cohen, Jim Cramer, manipulatively, Cramer, who've, It's Organizations: GameStop, Sony, Business, Twitter, Gamestop, Virgin Galactic, Blockbuster, Netflix, Citron Research, Research, Vanguard, YouTube, Roaring, Roaring Kitty, Owls, WSB, shits, GME Owls, CNBC, Virgin, Street Books, HarperCollins Publishers, Misfits Locations: sweatpants, Tampa , Florida

☆ It's showtime for Apple, and we're expecting news on its AI plans and a big partnership
▼ + stars: | 2024-06-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're giving a preview of what to expect at Apple's annual event . The big storyApple's AI unveilingApple CEO Tim Cook at the Worldwide Developers Conference in 2023. Josh Edelson/AFP Getty ImagesApple kicks off its big event today from a unique spot: behind. AdvertisementBut when CEO Tim Cook takes the stage for his keynote address this afternoon, it'll be about catching up with Apple's fellow Big Tech peers. It wouldn't be the first time Apple announced a deal with a fellow tech company that has massive implications , writes BI's Hasan Chowdhury.

Persons: —, Larry Connor, Tim Cook, Josh Edelson, Insider's Jordan Hart, BI's Hasan Chowdhury, Monica Schipper, Nordin Catic, Tyler Le, Sam Altman, OpenAI, Apple, Satya Nadella, Altman, Alyssa Powell, Chelsea Jia Feng, Andrii Sedykh, Javier Zayas, Abanti Chowdhury, They're, Gen, isn't, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith Organizations: Service, Business, showtime, Apple, Worldwide, Developers, Big Tech, Google, Microsoft, Getty, Getty Images, Taiwan Semiconductor Manufacturing Company, Amazon Locations: India, Mexico, Burazin, New York, London

In late 2022, Valcourt left the U.S. to move to France and go to pastry school. Valerie Valcourt moved to France in late 2022 to go to pastry school, which was a childhood dream. After some online research, she applied to a pastry school in Paris, got accepted and quit her job. Valerie Valcourt's pastry school program included three months of intensive culinary and language classes, followed by a four-month internship at a Michelin-level restaurant. Most of Valerie Valcourt's meals come from her restaurant job, but she spends roughly 20 euros ($21.43) per week.

Persons: Valerie Valcourt, Valcourt, She's, Chabran, Luis Carballo, Valerie Valcourt's, she's, It's Organizations: CNBC, Google, Michelin, France, Transportation, Apple, Spotify, Spotify Insurance, Peugeot Locations: U.S, France, Tournon, Seattle, Paris, Connecticut, Europe

☆ AI can't be trusted to do good work. I earn $500 an hour fixing its mistakes.
▼ + stars: | 2024-06-10 | by ( Bailey Varness | ) www.businessinsider.com time to read: +5 min

AI voices can't be directed to keep up with it. With AI voices, a video has already been produced, so I have to match the speed that AI created and still make it sound good. AI voices end up costing moreAI makes a lot of common mistakes. AI voices can give a casual, boring read that most marketers think will be fine, but they can't change tone or enthusiasm. AdvertisementBeware the legal ramifications of using AI voicesThere's also a good chance that if you're using an AI voice, it's been stolen.

Persons: —, It's, I've, There's, it's, NAVA, Bette Midler, Tom Waits, Bailey Varness Organizations: Service, Fortune, Business, SAG, National Association of Voice, Brand, Consulting

☆ Nuclear power is 'overblown' as an energy source for data centers, power company CEO says
▼ + stars: | 2024-06-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Rodrigo Garrido | ReutersThe euphoria over nuclear energy as a power source for data centers is "overblown," the CEO of a major power provider for large tech companies told CNBC in an interview Monday. Nuclear power, on the other hand, faces challenges in meeting the growing power demand from data centers, Gluski said. Gluski said the "euphoria" over nuclear power is a "little overblown." There is only so much existing nuclear energy that merchant power providers can re-contract to sites such as data centers, the CEO said. "The Street got ahead of it saying you're not going to build renewables, it's all going be nuclear," Gluski said.

Persons: AES Corporation Andres Gluski, Rodrigo Garrido, Andrés Gluski, Gluski, Georgia Power Organizations: AES Corporation Andres, Reuters, CNBC, AES Corporation, AES, Amazon, Microsoft, Google, Nuclear, Energy Information Administration, Georgia, Department of Energy, Renewables, Brookfield Asset Management, Brookfield Locations: Santiago , Chile, U.S, Georgia

☆ AI and the IPO market: Demand is there but product is lacking
▼ + stars: | 2024-06-10 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Tempus AI = AI in healthcare Tempus AI is seeking to sell 11 million shares at $35-$37 in its IPO and is slated to begin trading this Friday. Intelligent Diagnostics use AI, including generative AI, to make laboratory tests more accurate, tailored, and personal. AI IPOs: few and far between While AI is again the big investment theme of 2024, AI-themed IPOs have been few and far between. But the appetite for AI IPOs is large, and investors are scanning for new investments. Although the anticipated flood of AI IPOs has not yet materialized, Matt Kennedy is confident more are coming.

Persons: Matt Kennedy, Howe Ng, Ng, IPOs Organizations: Nasdaq, Astera Labs, Renaissance Capital, Nvidia, Cerebras Systems, Citigroup, Tempus, Forge Global Holdings

☆ 3 Gen Z software engineers share the résumés that got them a Google interview
▼ + stars: | 2024-06-09 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Three Gen Z software engineers at Google shared their résumés that landed them an interview. All three interned at a Big Tech company, had a 3.6 GPA or higher, and studied computer science. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . BI spoke to three recent graduates who now work as software engineers at Google. They each shared the résumé they used to land an interview — but it's important to remember there's no silver bullet for getting your foot in the door at Google.

Persons: —, it's Organizations: Google, Big Tech, Service, Harvard, Business

☆ Betting is the ‘Achilles’ heel’ of US sports. Are leagues doing enough?
▼ + stars: | 2024-06-09 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +11 min

“But matters affecting the integrity of the game have a chilling effect across the board and governing bodies know this is their Achilles heel,” he warned. Fast forward to 2024 and the gambling industry is engrained in US sports culture with leagues, franchises, players and networks now partnering with betting organizations. “We need legislation to do things like prevent sports betting advertising, and to prevent prop betting. However, it can be often in leagues’ financial interest for betting to increase in popularity. “The sports leagues have turned to sports betting because it increases fan avidity.

Persons: Ippei Mizuhara, Shohei Ohtani, Tucupita Marcano, Jontay Porter, ” David Carter, ”, Paul Sancya, – it’s, Andrew Zimbalist, Zimbalist, ’ ”, “, William Hill, Mike Segar, Porter, Long Phi Pham, Pham, Breon Peace, Victor Matheson, Matheson, Adam Silver, Robert D, Manfred , Jr, Wayne Gretzky, Bruce Bennett, ’ Zimbalist, LeBron James, Patrick Mahomes, Connor McDavid’s, ” Matheson, ” Carter, ” Zimbalist, CNN’s Thomas Schlachter Organizations: CNN, Los Angeles Dodgers, Major League Baseball, San Diego Padres, National Basketball Association, Toronto Raptors, NBA, USC Marshall School of Business, MGM Grand Detroit, DC, Super, American Gaming, Smith College, Monmouth, Reuters, Authorities, Supreme, College of, NFL, MLB, New York Rangers, Carolina Hurricanes, Madison, Garden, “, NCAA, National Council Locations: Brooklyn, Michigan, Detroit, Washington, Oceanport , New Jersey, U.S, Porter , Brooklyn, New York City

☆ India elections: Modi and his Hindu nationalist BJP have another five years in power. What does it mean for the world?
▼ + stars: | 2024-06-08 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

CNN —Narendra Modi has raised India’s stature on the global stage like no other recent leader of the world’s most populous country. But the election results also place Modi in a radically different position from the one he enjoyed during his first decade in power. Now, Modi’s BJP will need to answer the interests of its coalition allies – and face stronger checks from a resurgent opposition, which could dampen its Hindu-nationalist agenda. In the meantime, some observers suggest that while the election results may not have boosted Modi, they are already a boon for India’s global clout. “India coming back as a proper democracy is good for the world order in many senses,” he added.

Persons: CNN — Narendra Modi, –, Modi, ”, T.V, Paul, “, Nehru, ” Modi, Joe Biden, Pete Marovich, that’s, Washington, Farwa Aamer, assertiveness –, Justin Trudeau, Nasir Kachroo, Pakistan –, Sushant Singh, Fahd Humayun, India’s Organizations: CNN, Bharatiya Janata Party, BJP, Reuters, Japan, South Asia, Asia Society Policy, Modi . Canadian, Canadian, Yale University, Indian, Tufts University, ”, McGill University Locations: India, Delhi, United States, China, Pakistan, Australia, New York, New Delhi, Washington, Russia, Canada, Indian, American, Jammu, Kashmir, Modi’s BJP, BJP, Islamabad

☆ Renewable energy will be the predominant power source for data centers, Nextracker CEO says
▼ + stars: | 2024-06-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

The solar panels are part of the renewable energy sources that power Apple's European data center in Viborg. "There'll be some gas, but we believe based especially on the data published by the DOE, the predominant energy source for these data centers is going to be renewable energy," Shugar told CNBC in an interview Thursday. Whereas older data centers may have been 100 to 200 megawatts in size, some of the "monster data centers" today may be as big as 1,000 megawatts, Shugar said. Microsoft, for example, recently signed a massive renewable energy deal with Brookfield Asset Management. The companies described the agreement as the largest renewable energy deal signed between two corporate partners to date.

Persons: Christoph Dernbach, Dan Shugar, Lawrence, Shugar, Goldman Sachs, Goldman Organizations: Getty, Big Tech, Wall Street, Lawrence Berkeley National Laboratory, Department of Energy, U.S, DOE, CNBC, Goldman, Microsoft, Brookfield Asset Management Locations: Hanstholm, Denmark, Viborg, Nextracker, California

☆ Amazon, Best Buy, Google may soon sell home smart devices with 'hacker-safe' label
▼ + stars: | 2024-06-07 | by ( Bob Woods | ) www.cnbc.com time to read: +10 min

"Once a manufacturer receives certification for the Trust Mark, they will need additional time to retool their packaging, as well as shipping updated products from the manufacturer to retailers," he said. In 2024, according to research firm Statista, nearly 70 million homes in the U.S. are actively using smart devices, up more than 10% from last year. Staffers from Consumer Reports attended a White House meeting during which the Cyber Trust Mark program was announced. Barry Mainz, CEO of Forescout Technologies, a cybersecurity provider, says he is a big fan of the Cyber Trust Mark. Steps to take now to protect your home internetThere are actions consumers can take right now, before the Cyber Trust Mark program kicks in, to harden their cybersecurity.

Persons: Biden, Jessica Rosenworcel, Nicholas Leiserson, David Grossman, What's, Stacey Higginbotham, Higginbotham, Grossman, Barry Mainz, Mark — Organizations: Federal Drug Administration, National, Traffic Safety Administration, National Institute of Standards, Technology, NIST, Federal Communications Commission, U.S . Cyber, Energy Star, Cyber, Energy, Google, LG Electronics, Logitech, Samsung Electronics, FCC, Auburn University's, Institute, Consumer Technology Association, Park Associates, Consumer Reports, White, Survey, Consumer, Forescout Technologies Locations: U.S, Washington, Mainz

☆ Google cut Uncle Sam a $2 million check so it could avoid a jury trial. A judge just agreed
▼ + stars: | 2024-06-07 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —A US federal judge ruled on Friday that an antitrust lawsuit brought by the US government against Google will be decided by a judge and not a jury after Google wrote the government a check, paying back the full amount of monetary damages the lawsuit sought. The case regarding Google’s advertising technology is the first antitrust suit against a Big Tech company brought by the Biden administration. US District Judge Leonie Brinkema’s decision on Friday is a setback for the Justice Department, which sought a jury trial for the case. We’re glad the Court ruled that this case will be tried by a judge,” Schottenfels said. We look forward to making our case in court.”A hearing is set for June 21 on Google’s motion for summary dismissal, which would terminate the case without a trial.

Persons: Biden, Leonie Brinkema’s, Brinkema, —, Peter Schottenfels, “ DOJ’s, We’re, ” Schottenfels, we’ve, ”, Brian Fung Organizations: CNN, Google, Big Tech, Justice Department, DOJ

☆ Waystar shares slip in Nasdaq debut after digital health company priced IPO in middle of range
▼ + stars: | 2024-06-07 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Waystar shares slid about 3% in their Nasdaq debut on Friday, after the health-care payment software vendor priced its IPO in the middle of the expected range. The stock opened at $21 per share, below the IPO price of $21.50 late Thursday. The IPO market has been largely dormant since late 2021 when the extended bull market turned and investors began to worry about a weakening economy. But the broader venture-backed tech market may be beginning to thaw. Health tech company Tempus AI has also issued a preliminary prospectus this year.

Persons: Waystar, Matt Hawkins, CNBC's, JPMorgan Chase, Goldman Sachs Organizations: Nasdaq, Rock Health, Health, ZirMed, JPMorgan, Barclays

☆ Opinion: Apple can still get back to its golden age
▼ + stars: | 2024-06-07 | by ( Opinion Jeff Yang | ) edition.cnn.com time to read: +10 min

Jeff Yang CNNNaturally, Apple has locked down the details of the revelations it plans on releasing on Monday tighter than Fort Knox. Apple CEO Tim Cook introduces Apple Vision Pro, a mixed reality headset, at Apple Park in Cupertino, CA, on June 5, 2023. What’s the songs-in-your-pocket equivalent for Vision Pro? But so far, if Apple is looking to reclaim its real-world relevance, Vision Pro isn’t it — yet. Let’s hope that at this WWDC, the company defiantly ignores last year’s laughter and continues to look, and think, different.

Persons: Jeff Yang, Bruce ”, “, CNN —, Jeff Yang CNN, OpenAI, Tim Cook, Steve Jobs, Brooks Kraft, Jobs, Cook, Ive Organizations: CNN, Conference, Apple, Huawei, International Trade Commission, Justice Department, Vision, Apple Vision, Apple Inc, Apple Watch, MacBook Air, Twitter, Facebook, mojo Locations: Asian America, America, Knox, China, Cupertino , CA, manila, WWDC

☆ Apple's big summer event is coming up. Here's what the iPhone company is expected to announce.
▼ + stars: | 2024-06-06 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Apple is gearing up to deliver big announcements at WWDC on June 10. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementApple's highly anticipated Worldwide Developers Conference kicks off Monday, and the tech community is buzzing with expectations and predictions of big announcements. This story is available exclusively to Business Insider subscribers.

Persons: —, they've, WWDC, Mark Gurman Organizations: Apple, Service, Business

☆ AI just catapulted Nvidia into the $3 trillion club at lightning pace
▼ + stars: | 2024-06-06 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +1 min

Nvidia just joined the $3 trillion club along with Microsoft and Apple. Jensen Huang has the AI boom to thank for that. Nvidia's chips are in hot demand from AI and tech companies, stoking a euphoric bull run. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It's a message that Nvidia believers appear to have lapped up, too.

Persons: Jensen Huang, — Organizations: Nvidia, Microsoft, Apple, Service, Investors, Business Locations: Santa Clara

☆ Microsoft’s AI deal under federal investigation
▼ + stars: | 2024-06-06 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Any investigations would focus on whether the companies have used their dominant positions in the AI industry to harm competition. Microsoft, Inflection and Google didn’t immediately respond to a request for comment; Nvidia and OpenAI declined to comment. For years, technology critics and regulators have worried that major tech companies may be monopolizing entire sectors of the economy. One way for tech giants to wield anticompetitive influence in the AI sector, critics say, is through exclusive partnerships with AI startups. Those types of deals, including Microsoft’s relationship with OpenAI, is the subject of an ongoing study by the FTC announced in January.

Persons: OpenAI, Inflection’s, Google didn’t Organizations: Washington CNN, Federal Trade Commission, FTC, Justice Department, Microsoft, Google, Nvidia, CNN, of Justice, ’, European Union, Apple, Meta Locations: United States

☆ Move over 'Magnificent 7,' the 'Fantastic 5' may offer higher earnings and return potential
▼ + stars: | 2024-06-06 | by ( Pia Singh | ) www.cnbc.com time to read: +6 min

Looking for a less risky way to find growth stocks amid all the artificial intelligence hype? Looking ahead, Thornburg expects the Fantastic Five's outperformance to continue, with the forward price-to-earnings ratio of the European group falling below the seven U.S. stocks starting in 2026 and running through 2028. The money manager also projected that the European group will increase earnings 18% a year over the next three years versus 14% for the "Mag 7." ASML, the biggest producer of the equipment used to manufacture semiconductors, makes "leading-edge" lithography equipment needed to produce AI chips, Anderson said. He manages the Thornburg International Growth Fund , a concentrated portfolio of high-quality companies based outside the U.S., which has gained 8.8% year-to-date.

Persons: Nicholas Anderson, Anderson, Thornburg, It's, it's, FactSet, ASML Organizations: Thornburg Investment Management, Novo Nordisk, ASML, LVMH, AstraZeneca, SAP, Nvidia, Big Tech, Microsoft, Apple, GLP, Nordisk, Taiwan Semiconductor, Bloomberg, Growth Fund Locations: U.S, Novo, Europe, Belgium

☆ Elon Musk’s X app ran ads on #whitepower and other hateful hashtags
▼ + stars: | 2024-06-06 | by ( David Ingram | ) www.cnbc.com time to read: +12 min

X bans the promotion or glorification of violence and has previously applied the policy to racist and antisemitic content. Before Wednesday, X appeared to have blocked at least three antisemitic hashtags, according to searches of the platform. After NBC News contacted X about the hashtags, 12 of 50 hashtags appeared to be blocked. Of the 50 reviewed hashtags, searches on X for 45 of them returned recent racist or antisemitic posts. On TikTok, 10 of the 50 hashtags returned racist or antisemitic posts, with the rest either blocked or producing other content.

Persons: Elon Musk, Tesla, Elon, Musk, X, hashtags, Adolf Hitler, Anika Collier Navaroli, TikTok, Instagram, Meta, Darren Linvill, Linvill, Megan Squire, it's Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, NBC News, Twitter, NBC, Tow Center, Digital Journalism, Columbia University, Musk, Disney, Hyundai, Social, Tech, Meta, Clemson University's, Hitler, Nazi, Southern Poverty Law Center Locations: Beverly Hills , California, Europe

☆ Jensen Huang signed a woman's chest. Yes, you read that right.
▼ + stars: | 2024-06-05 | by ( Meghan Morris | ) www.businessinsider.com time to read: +1 min

Nvidia CEO Jensen Huang signed autographs, including a woman's top, at a Taiwanese tech event. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In a crowded booth at a Taiwanese tech conference on Tuesday, the Nvidia CEO wore the same glasses and Tom Ford jacket he sported for Sunday night's keynote address. He signed Macbooks, chips, and even a woman's top, just above her cleavage.

Persons: Jensen Huang, —, Tom Ford Organizations: Nvidia, Service, rockstar, Business Locations: Taiwan

☆ Qualcomm-backed firm launches latest AI chips — posing a challenge to giants like Nvidia
▼ + stars: | 2024-06-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

However, many of the companies wishing to use generative AI functions and apps today rely on giants like Microsoft and Amazon through their cloud businesses. These so-called "hyperscalers" are buying huge amounts of chips from companies like Nvidia to train up these massive AI models in data centers running complex servers. Kneron is betting that businesses will not always want to rely on these cloud giants for their AI needs. Kneron's launch comes just days after both Nvidia and AMD launched their latest AI chips, with both appearing to ramp up the pace of launches. The products from Nvidia and AMD are aimed at huge data centers from tech giants that can train up massive AI models.

Persons: Albert Liu, Liu, Kneron Organizations: Qualcomm, Nvidia, AMD, Microsoft, CNBC, Intel Locations: U.S

☆ Worldpay president: AI could help combat fraud in payments industry
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWorldpay president: AI could help combat fraud in payments industryGabriel de Montessus, president at Worldpay, speaks to CNBC's Arjun Kharpal at the Money 20/20 tech conference in Amsterdam.

Persons: Gabriel de Montessus, CNBC's Arjun Kharpal Organizations: Worldpay Locations: Amsterdam

☆ $17 billion UK adtech lawsuit against Google can go ahead, tribunal rules
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: +1 min

Google parent Alphabet must face a mass lawsuit which accuses it of abusing its dominance in the online advertising market, London's Competition Appeal Tribunal (CAT) ruled on Wednesday. The lawsuit, which seeks damages of up to 13.6 billion pounds ($17.4 billion) on behalf of publishers of websites and apps based in the United Kingdom, is the latest case to focus on the search giant's business practices. Ad Tech Collective Action is bringing the claim on behalf of publishers who say they have suffered losses due to Google's allegedly anticompetitive behaviour. Google last month urged the CAT to block the case, which it argued was incoherent. Ad Tech Collective Action's lawsuit is just the latest against a tech giant at the CAT, which already this year has certified a $3.8 billion case against Facebook parent Meta and a nearly $1 billion case against Apple.

Organizations: Ad Tech, Google, CAT, Ad, Facebook, Apple Locations: United Kingdom

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