Snap CEO Evan Spiegel has spoken out about the influence of the Chinese state in the success of TikTok, claiming that the c0mmunist regime has spent billions of dollars to equip the short video content app to dominate the market and edge out competitors. Speaking at the Code Conference 2022, Spiegel warned of the influence…
Snap CEO Attributes TikTok Success to ‘Billions and Billions of Dollars’ Spent by Communist China
FTC Rejects Amazon Bid to Quash Bezos, Jassy Testimony
WASHINGTON—The U.S. Federal Trade Commission (FTC) on Wednesday rejected a bid by Amazon.com Inc. to quash demands that both Chief Executive Andy Jassy and Executive Chairman Jeff Bezos testify at investigative hearings. Last month, Amazon questioned what it called the agency’s “burdensome” requests in its investigation of the sign-up and cancellation processes for its Prime…
YouTube in Challenge to TikTok to Give Shorts Creators 45 Percent of Advertisement Sales
LOS ANGELES—YouTube unveiled a new way for creators to make money on short-form video, as it faces intensifying competition from TikTok. The Google-owned streaming service announced Tuesday that it would introduce advertising on its video feature Shorts and give video creators 45 percent of the revenue. That compares with its standard distribution of 55 percent…
US Picks Team to Oversee $52.7 Billion in Semiconductor Funding
WASHINGTON—The Biden administration on Tuesday named a team of senior advisers to oversee $52.7 billion in government funding to boost semiconductor manufacturing and research. Commerce Department chief economist Aaron “Ronnie” Chatterji will serve as White House Coordinator for CHIPS Implementation at the National Economic Council (NEC) and will manage the work of the CHIPS Implementation…
PayPal Shuts Down Free Speech Union and The Daily Sceptic Accounts
PayPal has demonetised the account of the Free Speech Union, a British organisation that defends people who have lost work and been cancelled for expressing opinions. The U.S. online payments system PayPal has closed the account of the Free Speech Union (FSU) as well as the news and opinion site The Daily Sceptic without a…
Twitter to Depose Elon Musk in Delaware on Sept. 26–27
WILMINGTON, Del—Twitter Inc. will question Elon Musk under oath in Delaware next week as part of the litigation in the billionaire’s bid to walk away from his $44 billion deal for the social media company. A Tuesday filing in Delaware’s Court of Chancery said Musk’s deposition is scheduled for Sept. 26–27 and may stretch into…
Apple to Raise App Store Prices in Some Countries in Europe, Asia
Apple Inc. said on Tuesday it will raise prices of apps and in-app purchases on its App Store from next month in all of the euro zone and some countries in Asia and South America. The new prices, excluding auto-renewable subscriptions, will be effective as early as Oct. 5, Apple said in a blog post….
States Ask Appeals Court to Reinstate Facebook Lawsuit
WASHINGTON—A big group of states, led by New York, argued to an appeals court Monday that it should reinstate an antitrust lawsuit against Meta’s Facebook because of ongoing harm from the company’s actions and because the states had not waited too long to file their complaint. Barbara Underwood, solicitor general of New York which led…
Tesla Sued by Drivers Over Alleged False Autopilot, Full Self-Driving Claims
Tesla Inc. was sued on Wednesday in a proposed class action accusing Elon Musk’s electric car company of misleading the public by falsely advertising its Autopilot and Full Self-Driving features. The complaint accused Tesla and Musk of having since 2016 deceptively advertised the technology as fully functioning or “just around the corner” despite knowing that…
Amazon May Have to Tweak Proposals for Ending Business Practices Probes, EU’s Vestager Says
BRUSSELS—Amazon may have to tweak its proposals to end two investigations into its business practices, EU antitrust chief Margrethe Vestager said on Friday following feedback from third parties on the issue. In July the U.S. online retailer said it would set up a data silo, preventing its retail arm from using data from its marketplace…
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