Meta has been issued a record 1.2 billion euro fine ($1.3 billion) by a European Union privacy regulator for the way it handles user data when transferring it between Europe and the…
Alphabet Shares Jump After AI-Focused Developer Conference
Shares of Alphabet, the parent company of Google, are trading at their highest price since last August, as the company made major announcements about its artificial intelligence offerings at its developer conference. …
China to Revamp Tech Oversight, Establish National Data Bureau
China has announced plans to form a national data bureau, as it attempts to coordinate its data resources and achieve the “digital China” vision put forward by President Xi Jinping. The new…
U.S. Accuses Google of Abusing Ad Tech Monopoly
The U.S. Justice Department and eight states have sued Google this week, claiming the company had illegally abused a monopoly over the technology behind online advertising. Google’s anti-competitive actions “weakened if not…
SEC Swoops on Massive Cryptocurrency Pyramid Scheme
The US Securities and Exchange Commission (SEC) announced it has charged 11 people for their role in an alleged Ponzi scheme called Forsage, which defrauded retail investors for more than $300 million. …
Pipeline CEO Admits to Paying $4.4m to Ransomware Hackers
The CEO of Colonial Pipeline has confirmed the company paid $4.4 million in ransom to the hackers who disabled its pipeline in May. In an interview with the Wall Street Journal, Joseph…
Flipkart’s Payments Firm PhonePe in Partial Spin-out, Valued at $5.5bn
Indian e-commerce giant has partially spun-out its mobile payments brand PhonePe, selling a stake in the startup to Walmart. The deal, which makes PhonePe $700 million in primary capital, boosts Bengaluru-based PhonePe’s…
“Singles Day” Breaks Alibaba Records – But Regulation Knocks Chinese Stocks
Alibaba, the Chinese tech giant, has pulled in record sales figures. Yet not all is rosy for the firm. In previous years “Singles Day”—a Chinese Black Friday—has been measured in 24-hour frames.…
Biden Win Could Bring End to US Broadband Deserts
As Joseph R. Biden Jr celebrates his victory to become the United States’ 46th President, he has pledged to unite Americans behind his leadership. One key area in which the country is…
IN-DEPTH: Tech Holds its Breath as America Choses a Leader
In around 24 hours it will be a lot clearer—if uncertain—who America’s next President will be. And while tech has been far down the list of electoral priorities for both candidates, wins…