Business news

Business

Taiwan's Foxconn says building world's largest 'superchip' plant

Taiwanese tech giant Foxconn said on Tuesday it is building the world's largest production plant for US hardware leader Nvidia's GB200 "superchips" that power artificial intelligence servers.

Internet

'Appeals Center' to referee EU social media disputes

An independent appeals panel was unveiled Tuesday to decide disputes between social media firms and their users in the European Union over content posted on their platforms.

Business

Study finds electric vehicle subsidies help the climate and automakers—but at a cost

A new study shows that electric vehicle tax credits under the Inflation Reduction Act reduced pollution and boosted U.S. automakers, but largely benefited buyers who would have purchased EVs without subsidies.

Business

Psychosocial risks of collaborative robots: Emphasizing the need for worker engagement

The growing use of collaborative robots in the workplace may pose significant psychosocial risks to workers' mental health and their job security, but there are ways for organizations to smooth the transition, according to ...

Business

EU states greenlight extra tariffs on EVs from China

EU countries gave a definitive green light on Friday to hefty additional tariffs on electric cars made in China, despite strong German opposition and fears it will trigger a trade war with Beijing.

Business

What next for OpenAI after $157 billion bonanza?

ChatGPT-maker OpenAI has become an AI powerhouse after securing Silicon Valley's largest-ever funding round. The company now faces the challenge of delivering on its promise to become the next Apple or Google.

Business

Meta must limit data use for targeted ads: EU court

Social media platforms such as Meta's Facebook must limit the use of personal data including someone's sexual orientation for targeted advertising, the European Union's top court ruled Friday.

Business

Irish regulator to probe Ryanair use of facial recognition

Ireland's data watchdog said Friday it will probe whether budget airline Ryanair's use of facial recognition to check the identity of customers booking through third-party websites violates EU privacy laws.

Business

Green subsidies may have hidden costs, experts warn

Government subsidies for business practices and processes should be approached with caution, even when they seem to be environmentally friendly, writes a group of scientists and economists in this week's Policy Forum in the ...

Business

Google is working on reasoning AI, chasing OpenAI's efforts

Google is working on artificial intelligence software that resembles the human ability to reason, similar to OpenAI's o1, marking a new front in the rivalry between the tech giant and the fast-growing startup.

Business

Revolut urges Meta to step up on cyber fraud reimbursement

British online bank Revolut on Thursday urged Facebook owner Meta to reimburse victims of password security breaches, blasting the US tech giant's data-sharing partnership with several UK banks as "woefully" inadequate.

Business

Congress moves to ban TikTok from US government devices

TikTok would be banned from most U.S. government devices under a spending bill Congress unveiled early Tuesday, the latest push by American lawmakers against the Chinese-owned social media app.

Business

Is 2023 where crypto will go to die?

After a nearly apocalyptic 2022 that saw the collapse of one of crypto's largest players, questions about the future of the nascent industry have been swirling at tornadic speeds.

Business

Meta 'breached EU antitrust rules' on Facebook ads

US online giant Meta appears to have "breached EU antitrust rules" in the online classified section of its Facebook social network, the European Commission said Monday in a preliminary finding.

Internet

Twitter users vote to oust Elon Musk as CEO

Twitter users voted on Monday to oust owner Elon Musk as chief executive in a highly unscientific poll he organized and promised to honor, just weeks after he took charge of the social media giant.

Business

Fortnite-maker to pay $520 million over US child allegations

Epic Games, the maker of video-game blockbuster Fortnite, agreed to pay $520 million to the US Federal Trade Commission on Monday for violating child privacy laws and duping minors and adults to make unintended purchases ...

Business

Could space-based satellites power remote mines?

Many space-based technologies are still looking for their "killer app"—the thing that they do better than anything else and makes them indispensable to whoever needs to have that app to solve a problem. At this point in ...

Internet

Musk polls Twitter users about whether he should step down

Elon Musk is asking Twitter's users to decide if he should stay in charge of the social media platform after acknowledging he made a mistake Sunday in launching new speech restrictions that banned mentions of rival social ...

Business

Honeywell to pay $160 mn to settle US, Brazil bribe case

US industrial giant Honeywell will pay $160 million to settle criminal and civil probes in Brazil and the United States over bribes in order to win business from two national oil companies, the government said Monday.

Business

FTX founder Bankman-Fried back in jail after hearing

Sam Bankman-Fried, wanted in the United States for fraud after the collapse of his FTX cryptocurrency group, remained in a Bahamas prison Monday after an abortive court hearing that was to consider his possible extradition.

Business

Frustrated virtual reality pioneer leaves Facebook's parent

A prominent video game creator who helped lead Facebook's expansion into virtual reality has resigned from the social networking service's corporate parent after becoming disillusioned with the way the technology is being ...

Business

Bogus 'Bitcoin killer' cryptocurrency founder pleads guilty

A co-founder of the fraudulent cryptocurrency OneCoin, a pyramid scheme that conned billions of dollars from investors worldwide, pleaded guilty to wire fraud and money laundering charges, U.S. prosecutors said Friday.

Internet

Twitter chaos too much? There are plenty of other options

Twitter has been engulfed in chaos since billionaire Tesla CEO Elon Musk took the helm, cutting the company's workforce in half, upending the platform's verification system, reinstating previously banned accounts—including ...

Internet

Youngkin executive order bans TikTok from state computers

Virginia Gov. Glenn Youngkin banned the use of several Chinese-owned apps, including TikTok and WeChat, on state government devices and wireless networks on Friday, calling them a threat to national security.

Business

Oregon city drops fight to keep Google water use private

Residents of The Dalles, Oregon, are learning how much of their water Google's data centers have been using to cool the computers inside the cavernous buildings—information that previously was deemed a trade secret.