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EU faces uphill battle to rein in big tech
The EU's landmark curbs on how tech titans do business online kick in from Thursday, but just how far Brussels succeeds in bringing the giants to heel will hinge on bitter battles that still lie ahead.
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Elon Musk Sues OpenAI and CEO Sam Altman Over Alleged Breach of Contract
Tech mogul Elon Musk has filed a lawsuit against OpenAI and its CEO Sam Altman, among others, alleging breach of contractual agreements stemming from Musk's involvement in founding ChatGPT in 2015, Reuters reported on Thursday.
Major Tech Players Announce Huge Workforce Reductions: Ebay, Amazon and More!
Several major tech companies are reshaping their workforce dynamics at the beginning of 2024, with eBay becoming the latest to announce substantial layoffs. The decision to cut 1,000 jobs, despite the company's robust profits, adds to a growing list of tech giants implementing significant workforce reductions this January.
Tech titan Amazon sees profit climb as cloud promises boon
Online retail colossus Amazon on Thursday said profit surged in the recently ended quarter on growing sales and more efficient deliveries, with its cloud business promising even better days ahead.
EU hits tech titans with tougher market restraints
The European Union yesterday unveiled a list of digital giants, including Apple, Facebook owner Meta and TikTok parent ByteDance, that will face tough new curbs on how they do business, but the move could trigger a wave of legal battles.
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Driverless taxis gain ground in San Francisco
California authorities have taken a major step forward in expanding driverless taxi services in San Francisco, giving the green light for operators Waymo and Cruise to compete with ride-share services and cabs.
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Instagram, YouTube, TikTok, Twitter target of EU crypto advertising complaint
Meta Platforms' Instagram, Alphabet's YouTube, TikTok and Twitter could face regulatory action after European consumer group BEUC complained to the European Commission and consumer authorities that the online platforms allegedly facilitate the misleading promotion of crypto assets.
Spain competition watchdog opens Google probe
Spain's competition watchdog has launched an investigation into Google for alleged anti-competitive practices affecting news agencies and press publications.
The probe seeks to determine if Google and its parent company Alphabet abused their "dominant position" in the Spanish market, competition watchdog CNMC said in a statement late on March 28.
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IBM to cut 3,900 jobs amid reorganization
IBM will slash some 3,900 jobs, slightly more than one percent of its workforce, related to businesses it has divested, a source close to the matter told AFP on Jan. 25.
The computing company based in New York state did not talk of job cuts in its quarterly earnings report published Wednesday, however, nor in a call with analysts to discuss the financial results.
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Meta’s revenue, profit decline amid ad slump
Facebook parent Meta has reported that its revenue declined for a second consecutive quarter, hurt by falling advertising sales as it faces competition from TikTok's wildly popular video app.
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