BRITAIN BIG TECH CRACK DOWN
IRGC dismisses new US plan to tighten economic pressure on Iran as 'wordplay'
The US military has launched Task Force Iron Gate to restrict Iran's movement of weapons and materials. Revolutionary Guards spokesperson Hossein Mohebbi stated that the US goals are unattainable due to Iran's preparations and neighbor communications. Mohebbi criticized the Iron Gate initiative as ineffective in imposing economic pressure on Iran. He emphasized that Tehran's strategic planning enables continued trade routes despite American efforts.
Anthropic wants to create new billionaires through its IPO, but American voters are growing tired of Big Tech's wealth explosion
Anthropic is preparing for a significant IPO amid growing public resistance to AI-related infrastructure projects. Investors are discussing a valuation between $1 trillion and $1.5 trillion for the Nasdaq listing. Communities express concerns over environmental impacts and rising electricity costs linked to data centres. Public sentiment is shifting against technology companies, raising questions about economic benefits versus local costs.
Failed UPSC dream to Rs 130 crore success: How Bengaluru man turned Rs 1 crore investment into a healthy food business
Sandeep Jangala's journey began with a dream of becoming an IAS officer, but the road to success was not without its obstacles after his UPSC attempt fell short. Undeterred, he pivoted to entrepreneurship, successfully launching a tech startup that caught the attention of investors. In 2022, he and his wife co-founded Yummy Bee, a company dedicated to providing children with healthy food choices.
Bad AI cholesterol vs good AI cholesterol
The Magnificent 7 of Big Tech has recently experienced a staggering drop, losing over $1 trillion in collective market value. This decline is fueled by apprehensions regarding spending on artificial intelligence and rampant inflation. As challenges loom for AI investments—particularly in legal and borrowing contexts—investors must now navigate a landscape where distinguishing between thriving and failing AI projects is crucial.
Snapchat starts disabling friend-finder feature for UK children, regulator says
Ofcom said the change would make it harder for strangers to contact children on the image-sharing social media platform, one it considers among the largest and most popular online services used by children in Britain.
Tech billionaires in Democrats’ crosshairs: Who could face congressional probes? Here’s the hit list
Elon Musk, Mark Zuckerberg, Jeff Bezos and other tech leaders could face congressional investigations as Democrats prepare to take control of Congress in 2027. Their scrutiny could focus on ties to Donald Trump, political influence, AI development, data center expansion and the industry's impact on American jobs and communities.
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What went wrong with Tesla Cybertruck? Elon Musk says production will wind down in mid-2027
Tesla Cybertruck production: Tesla plans to wind down Cybertruck production at its Texas factory around mid-2027 as Elon Musk shifts manufacturing capacity towards the Cybercab. The decision follows years of production delays, repeated recalls, steep price increases and sales that fell short of the company's original ambitions.
EU charges TikTok over harmful algorithmic 'rabbit hole' effects
EU tech regulators charged social media platform TikTok on Friday with breaching the bloc's online content rules due to the so-called "rabbit hole" effect of its recommender system, which attracts users' attention to a constant stream of
Why Big Tech companies Microsoft, Google, Meta and others are opting for voluntary buyouts
In response to fluctuating market demands, Meta has rolled out voluntary exit packages in France aimed at workforce restructuring. This initiative is part of a broader trend as tech giants like Google and Microsoft implement similar measures globally to optimize costs. These packages offer employees the choice to depart with financial incentives and transition support, showcasing a more favorable approach compared to traditional layoffs amidst economic uncertainty.
Nvidia, AMD, Meta, other tech stocks nosedive as Democratic sweep prompts AI slowdown fears
Nvidia and AMD faced noticeable drops as Democratic wins sparked fears regarding possible restrictions on AI development. This ripple effect was felt across the Nasdaq and Dow Jones, both of which registered significant declines. Investors showed concern over delays in data center projects tied to promises from recently elected officials.
Big tech, green groups in talks over data center guardrails
The "Responsible Data Center Collaborative" counts Google, Meta, Microsoft, Oracle, Amazon, Nvidia and Anthropic among its members, alongside environmental stalwarts the Natural Resources Defense Council (NRDC), World Wildlife Fund (WWF) and Sierra Club.
Asia fuel oil benchmarks slump as market prices in potential Iran war de-escalation
Asian fuel oil benchmark prices underwent a steep decline this week, driven by expectations of heightened supplies from the Middle East. The shifting political landscape in the US Congress has ignited hopes for peace talks in the region. Simultaneously, enhanced supply conditions, particularly from UAE fuel oil exports, have emerged. While freight rates have shown some easing, they still exert pressure on cargo movements from Europe to Asia.
Stock markets down today: Dow Jones plunges 1,753 points, S&P 500 drops 4% and Nasdaq enters correction - why Wall Street reversed its post-election rally
Stock markets down today: Wall Street's post-election rally quickly turned into a major sell-off as the Dow plunged 1,753 points and the Nasdaq entered correction territory. Fears that Democratic victories could slow AI data-center expansion triggered heavy losses in Nvidia, AMD, Micron and other technology stocks, wiping out Wednesday's gains.
Premji Invest goes big on strategic output & tech
Premji Invest and Singularity AMC are likely to lead a $30-40 million round in Sanlayan at a valuation of about $200 million, according to the people. Separately, Premji Invest is in advanced talks to lead Hical’s first institutional funding round of $30-40 million, alongside TVS Capital.
Are Russia, China, Iran planning to carry out large scale cyberattacks bigger than Europe supermarket fridges hacking? Top Britain official reveals shocking details
Moscow, Beijing and Tehran have all repeatedly denied similar accusations of malevolent cyber actions in the past.
Apple drops with most of Wall Street, but gains for other Big Tech stocks cushion the blow
The stock market has been shaky recently as technology and artificial-intelligence stocks have swung on worries their prices shot too high in the frenzy around AI. Several of the most influential AI-related stocks held firmer Tuesday, which supported the market, after flipping from gains in the morning to losses in the afternoon a day earlier.
US stock futures mixed as Apple falls on margin warning, midterm results awaited
U.S. stock index futures reflect a mixed response as crude oil prices trend upwards ahead of midterm election outcomes. Apple's shares took a hit following its announcement regarding rising costs and potential holiday-quarter margin impacts. Despite Palantir Technologies exceeding revenue estimates, its stock plummeted post-results. Analysts are warning of heightened market volatility depending on elections and government expenditure.
Global markets were already fragile. Big AI bets could break them
Investors flocked to bonds. Yields, which move inversely to price, fell from multidecade highs, with the benchmark 10-year Treasury, which guides borrowing costs globally, falling almost 20 basis points on October 22, its biggest daily fall since early 2023.
UK cyber chief says the UK will face AI cyberattacks on critical infrastructure by 2028
The UK's National Cyber Security Center warns of potential AI-driven cyberattacks targeting critical infrastructure by 2028. Increased sophistication in cyber activities from states like China and Russia poses significant risks. Past incidents highlight vulnerabilities in key sectors such as manufacturing and energy. Organizations must invest in cybersecurity measures to protect against these emerging threats. Failure to act could jeopardize essential services and compromise national security.
Big tech share buybacks plunge 83% as AI spending hits cash flows
Major US technology companies sharply reduced dividends and share buybacks as record AI infrastructure spending pushed their combined free cash flow into deficit. The shift raises concerns about shareholder returns and places greater pressure on Big Tech to deliver profit growth from its AI investments.
Apple's new CEO John Ternus to face first earnings test as memory costs surge
Ternus, who took the reins from Tim Cook in September, has overseen the introduction of Apple's first foldable phone, smart home hub and Apple's first touch-screen laptops. All of those products began shipping during the company's current fiscal first quarter, amid what Cook had called a "100-year flood" of rising memory costs.
Tech rout drives gold to one-year low, white metals sink deep into oversold zone
Gold prices have plummeted to a year-long low, driven by anxiety over AI expenditure trends and declining tech shares. Other precious metals such as silver, platinum, and palladium have similarly seen their values drop sharply. Market experts forecast that precious metals may rebound, particularly if gold stays under $4,000. A decline in demand for silver's industrial and jewelry uses further complicates its market outlook, leaving a persistent downtrend expected.
Big Tech returns smallest share of cash to shareholders in 15 years, given AI spending
The retreat threatens a long-standing source of support for technology share prices. With companies buying back fewer shares, investors are increasingly dependent on heavy AI investments delivering enough profit growth to justify their valuations.
Gold price prediction: Gold rate closes October on 1-year low, what to expect in November, December?
Gold rate in October saw one of the worst months for the bullion in a year. Traders are curious whether gold rate will jump or go further down in November.
US SEC's top cop says agency is monitoring AI corporate disclosures
Big Tech stocks sold off this week as companies disclosed they are burning through cash to fuel their AI expansion at a time when interest rates are rising, raising questions about the sustainability of AI spending.
Stop giving solutions for problems: Former job recruiter shares 5 interview tips to get hired at big tech companies
A former job interviewer who says he has conducted 100 interviews has shared five tips for candidates struggling to clear technical rounds. He advises job seekers to stop rushing into coding, explain their approach, start with a brute-force solution and practise around 50 carefully selected questions. He also explains why communication, checking edge cases and applying for jobs while preparing can make a difference in landing a tech job.
Nasdaq futures sink as Amazon, Intel intensify AI spending fears
Shares of Amazon.com were down 6.3% in premarket trading after the company reported a sharp cash outflow in the third quarter and signaled another increase in capital expenditure next year, on top of already elevated outlays.
SC cracks down on banks, seeks mandatory payouts to cyber fraud victims
The Supreme Court has questioned the Reserve Bank of India's effectiveness in preventing digital fraud. Financial institutions must be held accountable for their role in cybercrime under new regulations. A mandatory liability clause is essential to ensure victims are compensated for losses. The court emphasizes that banks should enhance preventive measures against unusual transactions. The Attorney General mentioned that the RBI is working on regulations to address these issues.
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