Business news

Business

Do NFTs create value in games? There are at least three ways to look at it

When blockchain is introduced into video gaming, the economy and sometimes the entire design of such games focus on artificial scarcity and ownership of game items. However, this approach overlooks some of the most important ...

Business

Historic funding round values OpenAI at $157 billion

New funding propelled ChatGPT-maker OpenAI to a valuation of $157 billion, the company said on Wednesday, sealing its place as the world leader on artificial intelligence.

Business

Samsung says planning job cuts in some Asian operations

Samsung Electronics said Wednesday it was planning to cut jobs in some of its Asian operations, after a report that one in ten posts in affected markets could be axed.

Business

X agrees to pay Brazil fines, court orders finances unblocked

A Brazilian judge on Tuesday ordered the unblocking of the bank accounts of Elon Musk's X in the country after the social media platform agreed to pay more than $5 million in fines.

Business

Tech industry urges G7 to unify cloud security standards

A leading tech industry group on Tuesday called on G7 nations to harmonize cloud security certification across the world's richest nations, in an effort to stoke cooperation and counter calls that data should stay within ...

Business

Google to invest $1 billion in Thailand

Google plans to invest $1 billion to build digital infrastructure in Thailand, including a new data center, the US tech giant has announced, saying the move would support 14,000 jobs in the kingdom.

Business

High costs slow widespread use of heat pumps in UK, study shows

The high cost of installing heat pumps for home heating could slow down people widely adopting the technology and leave government targets missed, research suggests. There has been a little to no reduction in the average ...

Business

US fund to buy German energy firm Techem for 6.7 bn euros

US private equity firm TPG said Tuesday it planned to buy German metering company Techem for 6.7 billion euros ($7.4 billion), highlighting the growing interest in energy efficiency solutions for the buildings sector.

Consumer & Gadgets

Will Meta's Orion smart glasses be the next 'iPhone moment'?

Meta supremo Mark Zuckerberg unveiled Orion smart glasses, a new augmented reality (AR) prototype, at the annual Meta Connect developer conference. Ten years in the making, and still not expected on high streets until 2027, ...

Business

Bankman-Fried struggles in final day of court testimony

Former crypto tycoon Sam Bankman-Fried struggled on Tuesday to explain his behavior during the last days of his FTX empire, as prosecutors shone a light on his willingness to take massive risks.

Business

How to redesign social media algorithms to bridge divides

Social media platforms have been implicated in conflicts of all scales, from urban gun violence to the storming of the US Capitol building on January 6 and civil war in South Sudan. Scientifically, it is difficult to tell ...

Internet

Musk pulls plug on paying for X factchecks

Elon Musk has said that corrections to posts on X would no longer be eligible for payment as the social network comes under mounting criticism as becoming a conduit for misinformation.

Business

Bankman-Fried faces prosecutors in US fraud trial

Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, faced a tough cross-examination on Monday, with US prosecutors chipping away at his denials of committing massive fraud.

Business

Most websites do not publish privacy policies, researchers say

Online privacy policies may not only be difficult to find but nonexistent, according to Penn State researchers who crawled millions of websites and found that only one-third of online organizations made their privacy policy ...

Consumer & Gadgets

Apple Watch models face US import ban in patent clash

Medical technology company Masimo Corp. on Thursday said a US trade commission has recommended banning imports of Apple Watch models that infringe its light technology for detecting blood oxygen levels.

Business

Bankman-Fried takes stand, says he made 'small mistakes'

Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, took the stand at his trial on Friday and said that while he may have made mistakes, he did not commit fraud or steal from customers.