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July 11, 2024, 11:45 AM
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Bloomberg:
Apple settles with the EU over Apple Pay and avoids potential fines by agreeing to open NFC access on iOS to third-party wallet developers for free for a decade  —  - EU accepts Apple pledge to open up payment tech to rivals  — Firm still faces mounting EU antitrust scrutiny in other areas
Leo Schwartz / Fortune:
The US SEC drops its investigation into Paxos over its BUSD stablecoin issued in partnership with Binance, after sending Paxos a Wells notice in February 2023  —  As the crypto industry continues its calls for regulatory clarity, a glaring question has been whether stablecoins …
Vlad Savov / Bloomberg:
IDC estimates that Apple will sell under 500K Vision Pro units in 2024, and the headset's international launch will offset a 75% QoQ drop in US sales in Q3 2024  —  - The pricey headset's US sales are expected to plummet  — A more affordable model in a year's time should help momentum
Sarah Perez / TechCrunch:
An international study of 642 websites and mobile apps offering subscription services finds ~76% with at least one possible dark pattern and ~67% with multiple  —  The U.S. Federal Trade Commission, along with two other international consumer protection networks, announced on Thursday …
Mark Bergen / Bloomberg:
Helsing, which makes AI tools for defense, raised a €450M Series C led by General Catalyst, a source says at a €4.95B valuation, taking its funding to €769M  —  - Company formed in 2021 has now raised nearly €770 million  — Helsing will open entity in Estonia as part of Baltic push
Brady Dale / Axios:
US prosecutors say crypto exchange BitMEX pled guilty to one count of violating the Bank Secrecy Act by not having an adequate AML program from 2015 to 2020  —  - U.S. agencies are paying attention now, and they are aggressively reviewing those early practices, as we've seen again and again recently.
Lauren Smiley / Wired:
A profile of Priscila Barbosa, who defrauded Uber and other apps by building a ~$10K-per-month business renting fake accounts to undocumented workers in the US  —  She came to the US with a dream.  Using platforms like Uber, Instacart, and DoorDash, she built a business empire up from nothing.
Eduardo Baptista / Reuters:
A SAS survey of 1,600 decision makers in key global markets: 83% of Chinese respondents said they've adopted generative AI vs. 65% in the US and 54% globally  —  China is leading the world in adopting generative AI, a new survey shows, the latest sign the country is making strides in the technology …
Chance Miller / 9to5Mac:
Apple and Google launch a data portability tool that lets Google Photos users move their photos to iCloud, after offering iCloud to Google Photos in March 2021  —  Apple and Google have teamed up to introduce a new data portability tool that lets users transfer their Google Photos collections straight to iCloud Photos.
Paayal Zaveri / Bloomberg:
Fireworks AI, which helps companies fine-tune and customize AI models, raised $52M led by Sequoia at a $552M valuation, taking its total funding to $77M  —  - Startup's platform lets companies access multiple AI models  — Investors put $52 into the company, led by Meta alum Lin Qiao
More: Fireworks
Janko Roettgers / Lowpass:
A US court grants Redbox owner Chicken Soup for the Soul Entertainment Chapter 7 bankruptcy, paving the way for shutting down Redbox and liquidating its assets  —  Court hearing included allegations of fraud  —  Redbox is shutting down, corporate parent is being liquidated
Rachel Metz / Bloomberg:
A look at the rise in use of the sparkles emoji to market AI products as magic, as some say the imagery distracts from real-world issues the AI industry faces  —  Have you noticed artificial intelligence is looking a lot more sparkly lately?  But first...  Do you believe in magic?
Eleanor Olcott / Financial Times:
Sources: Xiaohongshu, China's fastest-growing social media platform, sold existing shares in recent weeks at a $17B valuation; DST took part in the round  —  Yuri Milner's DST Global takes stake at $17bn valuation in rare investment from overseas after China's tech crackdown

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From Mediagazer

CNBC:
Comcast confirms plans to spin off its NBCUniversal cable TV networks, including MSNBC and CNBC, with Mark Lazarus as CEO; the separation may take about a year

Daniel Thomas / Financial Times:
James Harding says the Tortoise-Observer deal could create a profitable media group and there isn't a guaranteed future for the Observer with the Guardian

Lauren Forristal / TechCrunch:
Tubi launches Scenes, a mobile feature that lets viewers watch 60-to-90-second trailer-style clips from its library to help with content discovery

More News

Bhupendra Paintola / Inc42 Media:
Kearney-Amazon Pay survey of 6K consumers and 1K merchants in 120 Indian cities: 90% prefer digital transactions, 46% of the transactions are digital, and more
Ryan Gould / Bloomberg:
Sources: Alphabet shelves efforts to acquire HubSpot after the companies failed to reach a point of detailed discussions around due diligence; HUBS drops 10%+
Shubham Sharma / VentureBeat:
AWS launches App Studio, which is a generative AI-powered service letting enterprise users create internal apps using text prompts, in public preview

Earlier Picks

Evan Gorelick / Bloomberg:
OpenAI and Los Alamos National Laboratory announce a partnership to evaluate how multimodal AI models can be used safely by scientists in laboratory settings
Brody Ford / Bloomberg:
Intuit plans to cut 10% of its global workforce, or ~1,800 employees, and rehire the same number, primarily in its engineering, product, and sales divisions
Chris Welch / The Verge:
Samsung unveils $250 Galaxy Buds3 Pro and $180 Galaxy Buds3, with ANC and switching to an AirPods-like stemmed design and case, available on July 24
Ben Schoon / 9to5Google:
Samsung debuts the Galaxy Z Fold6, with a wider 22.1:9 display, up to 2,600 nits of brightness, a thinner frame, IP48, and seven years of updates, for $1,899
Wes Davis / The Verge:
Google now lets its users set up Advanced Protection Program with a single passkey, using Android or iOS biometric authentication, instead of two physical keys
Dan Goodin / Ars Technica:
Researchers detail the Blast-RADIUS MD5-based vulnerability affecting RADIUS, a widely used network access authentication protocol first developed in 1991
Harshita Mary Varghese / Reuters:
IDC: global PC shipments rose 3% YoY to 64.9M units in Q2 2024; Apple's shipments rose 20.8% YoY, the biggest jump among PC makers, followed by Acer at 13.7%
Tom Warren / The Verge:
Microsoft hikes the price of Xbox Game Pass Ultimate by $3 to $19.99/month for new subscribers and plans a Standard tier for $14.99/month without day-one titles
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