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Rules for boosting the security of connected devices have entered into force in the European Union. The Cyber Resilience Act (CRA) puts obligations on product makers to provide security support to consumers, such as by updating their software to fix security vulnerabilities. Although the deadline for compliance with the main obligations of the law is…
Apple is being sued over its decision not to implement a system that would have scanned iCloud photos for child sexual abuse material (CSAM). The lawsuit argues that by not doing more to prevent the spread of this material, it’s forcing victims to relive their trauma, according to The New York Times. The suit describes…
The Consumer Financial Protection Bureau announced Friday that it was placing Google’s payment arm under federal supervision. In response, Google filed a lawsuit seeking to block the move. Such supervision would subject Google to the same inspections that the bureau conducts with major banks and other financial institutions for potential violations of the law. The…
About a “dozen Musk allies” have put a pin in their daily routines to serve as unofficial advisers to the Trump transition effort, says the New York Times. Among them, reports the outlet: Jared Birchall, the head of Elon Musk’s family office, has interviewed a few candidates for jobs at the State Department; Marc Andreessen…
Incoming President Donald Trump has a new crypto and AI “czar”: ex-PayPal COO David Sacks. Trump announced Sacks’ appointment Thursday in a post on Truth Social, Trump’s social networking platform. “[Sacks] will work on a legal framework so the Crypto [sic] industry has the clarity it has been asking for, and can thrive in the…
The U.K.’s antitrust regulator has greenlighted the longstanding planned merger between two of the country’s biggest telecommunication operators. Vodafone and Three constitute two of the U.K.’s four infrastructure-owning mobile network operators (MNOs), alongside O2 and EE. As such, when the duo revealed plans to merge in a $19 billion transaction last June, it was always likely…
Fidelity marked up the value of its holdings in Elon Musk’s X (formerly Twitter) by 32.37% in October, according to a report in Axios. Even with this markup, Fidelity still values the company at 72 percent less than the $44 billion that Musk purchased it for in 2022. Axios reports that this move is probably…
In a step likely to be tracked around the world, Australia has approved legislation that will ban the use of social media for children under 16. The bill was only introduced about a week ago but had backing from the main conservative opposition party as well as the centre-left government over concerns the tech services…
The U.S. Department of Commerce today confirmed it has awarded $7.865 billion to chip giant Intel under the U.S. CHIPS and Science Act, a federal statute signed into law by President Joe Biden in 2022 to boost domestic semiconductor manufacturing. The figure is notably lower than the potential highest figure announced back in March, when…
With Elon Musk playing such a high-profile role in Donald Trump’s transition team, Musk’s buddies, many of them Silicon Valley venture capitalists, are reportedly being tapped to help out. For instance, VC firm Andreessen Horowitz, and in particular co-founder Marc Andreessen, is repeatedly being mentioned. He, along with Antonio Gracias and Joe Lonsdale, are reportedly…