BRUSSELS—EU antitrust regulators gave unconditional approval for Alphabet unit Google’s acquisition of Croatian maths app Photomath, the European Commission said in a statement on Tuesday. The EU Commission said the deal would not reduce competition in the markets for “online homework and study help tools that include maths as a subject offering and general search…
Infineon Raises 2023 Outlook on Automotive and Industrial Strength
FRANKFURT—German chipmaker Infineon has raised its outlook for both its financial second quarter and the whole of 2023, it said on Tuesday, citing “resilient business dynamics” at its automotive and industrials divisions. The group said it now expected 2023 sales significantly above the 15.5 billion euros ($16.8 billion) forecast previously. It said there would be…
Chelsea Post 121.3 Million Pounds Loss, Blame Sanctions on Former Owner Abramovich
Chelsea had an overall net loss of 121.3 million pounds ($148.65 million) for 2021–22 due to “extraordinary expenses and loss of revenue” after sanctions were imposed on previous owner Roman Abramovich, the Premier League club said on Monday. Russian owner Abramovich put the club up for sale in early March last year following Russia’s invasion…
TikTok Harvests Your Location, Contacts, Passwords: Cyber Firm Reveals
March 28, 2023
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AustraliaBusiness & MarketsBytedanceCompaniesInternationalInternet 2.0Media & Big TechSocial MediaTechTech NewsTikTokUSUS NewsWorld
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Chinese-backed social media giant TikTok has been accused of “excessive data harvesting” by cybersecurity firm Internet 2.0. In a new report, the Australian-based firm found the popular music video app tracked the location of users every hour, accessed calendars and contacts, and also conducted “device mapping”—tracking what other apps were installed on a person’s phone….
TikTok Harvests Your Location, Contacts, Passwords, Cybersecurity Firm Reveals
March 28, 2023
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AustraliaBusiness & MarketsBytedanceCompaniesInternationalInternet 2.0Media & Big TechSocial MediaTechTech NewsTikTokUSUS NewsWorld
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Chinese-backed social media giant TikTok has been accused of “excessive data harvesting” by cybersecurity firm Internet 2.0. In a new report, the Australian-based firm found the popular music video app tracked the location of users every hour, accessed calendars and contacts, and also conducted “device mapping”—tracking what other apps were installed on a person’s phone….
Amazon Executive to Replace Lyft CEO, President
The co-founders of ride-sharing company Lyft are stepping down from their full-time executive roles and will be replaced by a former Amaon executive, the company announced on Monday. The current CEO and president, Logan Green and John Zimmer, respectively, will transition into non-executive roles as chair and vice-chair of the Lyft board. David Risher, a former Amazon…
China’s Low-Price Car Promotion Fails to Spur Sales as Consumer Confidence Declines
March 28, 2023
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News Analysis A low-price auto campaign initiated by Chinese car companies and local governments has been sweeping throughout China since the start of March, but auto sales continue to fall. Experts indicate that middle-class Chinese citizens, the mainstay of consumption, face heavy debts as they lose confidence in the economy. On March 6, Dongfeng Motor…
US Banks Raising Savings Rates to Keep Customers From Running Due to SVB Collapse Jitters
March 28, 2023
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American banks are currently raising their savings rates to keep customers from running due to jitters following the collapse of Silicon Valley Bank (SVB) and Signature Bank. The ongoing crisis in the banking industry is pushing lenders to offer more perks for customers, USA Today reported. Many depositors have been transferring their money from regional banks…
Samsung’s Operating Losses Impact South Korean Economy, Aims to Build New Chip Center
March 28, 2023
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New Analysis Samsung, the pillar of South Korea’s economy, has seen its profit plunge in 2022 due to weak chip and smartphone demand. The company’s weak financial performance has impacted the overall South Korean economy. To reverse the weakening profitability, Samsung Electronics plans to invest 300 trillion won (about $227 billion) over the next 20 years…
US Opens Investigation Into Tesla Seat Belts Coming Loose
DETROIT—U.S. highway safety regulators have opened yet another investigation into problems with Teslas, this time tied to complaints that the seat belts may not hold people in a crash. The investigation by the National Highway Traffic Safety Administration covers an estimated 50,000 Model X SUVs from the 2022 and 2023 model years. The agency says…
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