WASHINGTON – The chief executives of the four U.S. tech giants — Amazon.com, Facebook, Alphabet’s Google and Apple — will testify before the U.S. Congress in late July as part of an ongoing antitrust probe into the companies, according to two sources familiar with the matter. Amazon’s Jeff Bezos, Facebook’s Mark Zuckerberg, Sundar Pichai of Google and Apple’s Tim Cook will appear as part of the probe by the House of Representatives Judiciary Committee’s antitrust…"U.S. tech chief executives expected to testify before House panel in late July"
FRANKFURT – Police and public prosecutors raided Wirecard’s headquarters in Munich and four properties in German and Austria on Wednesday as they widened their investigation into the financial payments company that collapsed last week. Wirecard filed for insolvency last week owing creditors almost $4 billion after disclosing a 1.9 billion euro ($2.1 billion) hole in its accounts that its auditor EY said was the result of a sophisticated global fraud. The implosion of a financial…"Police raid Wirecard HQ as administrator kicks off asset sales"
MUMBAI ( Breakingviews) – India is extending a fight with China from the Himalayan mountains into cyberspace. ByteDance’s hugely popular video-streaming app TikTok is among 59, mostly Chinese, ones banned by New Delhi on national security concerns. It significantly narrows a top growth market for Chinese technology firms and may embolden other governments to shut them out. But the network effects could be messy all around. Giants from Alibaba to Xiaomi have made significant inroads…"Breakingviews – India’s war on China apps will have network effect"
– Alphabet Inc’s Google said on Monday that it had removed search ads that charged users searching for voting information large fees for voter registration or harvested their personal data. A Google spokeswoman told that the company’s misrepresentation policy barred such ads, which were found by the nonprofit watchdog Tech Transparency Project when searching for terms such as “register to vote,” “vote by mail,” and “where is my polling place.” Tech Transparency Project said in…"Google removes misleading ads in voting-related searches"
WASHINGTON – U.S. Secretary of State Mike Pompeo will address the United Nations Security Council on Tuesday on the expiration of a U.N. arms embargo on Iran, the U.S. State Department said on Monday. The United States is pushing the 15-member U.N. Security Council to indefinitely extend an arms embargo on Iran, which is currently set to end in October under Tehran’s 2015 nuclear deal with world powers. The U.N. Security Council will decide on…"U.S.’s Pompeo to address U.N. Security Council on Tuesday on Iran arms embargo"
– The New York Times Co said on Monday it will end its partnership with Apple News, effective June 29, at a time when the publisher is shifting focus to a digital subscription-based model. The media company said publishers should be fairly compensated for their content and Apple News did not align with its strategy of building direct relationships with paying readers. NYT, which has more than four million subscribers for its news product, added…"New York Times ends partnership with Apple News"
HONG KONG ( Breakingviews) – It’s usually a bad sign when a technology company spends more time buying than building. Tencent may prove to be an exception. The Chinese goliath’s investment portfolio has surpassed $66 billion with stakes in music, fintech and more. Recent successes could validate the deal spree. Two years ago, an essay entitled “Tencent has no dream” went viral in China. The author, a local tech journalist, accused the company that created…"Breakingviews – Tencent embraces its inner Goldman Sachs"
– Facebook Inc said on Friday it would tighten its ban on hateful content in ads and start labeling newsworthy content when it violates the social media company’s policies. The policy changes come as an advertising boycott campaign by several U.S. civil rights groups gains traction. On Friday, Unilever PLC said it would stop U.S. ads on Facebook, Instagram and Twitter for the rest of the year, citing “divisiveness and hate speech during this polarized…"Facebook tightens hateful conduct policies as ad boycott gains steam"
PARIS – French video games group Ubisoft said it was investigating allegations of misconduct at the company, which earlier media reports said centred around charges of sexual misconduct. “We have started by launching investigations into the allegations with the support of specialized external consultants,” it said in a statement dated June 25. “Based on the outcomes, we are fully committed to taking any and all appropriate disciplinary action. As these investigations are ongoing, we can’t…"Video games group Ubisoft investigating allegations of misconduct"
OAKLAND, Calif. – Activity tracker maker Fitbit Inc said on Friday that young adults in the United States are lagging behind older age groups in returning to the same number of steps as before the coronavirus outbreak. Women and men under 29 years old took fewer steps in June than the same period a year ago, according to data aggregated from Fitbit users, as the novel coronavirus prompted people to stay at home. People over…"Fitbit says young adults in U.S. slower to step back to normal"