bigtech
The US earnings season is set to conclude with Nvidia’s quarterly results, which will be pivotal for the enthusiasm surrounding artificial intelligence (AI) stocks. The company will report its first-quarter earnings for the fiscal year 2025 after the US market closes on 22 May. Nvidia has benefited the most from the AI boom, becoming the world’s third-largest company by market capitalisation, following Microsoft and Apple. The company’s share price has more than doubled in one year and surged an impressive 92% year to date in 2024. Since the second quarter of 2023, the AI chip maker’s revenue ...
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IBM said it plans to hire up to 800 more people in Ireland to help build advanced software underpinned by AI technology, the state investment agency IDA Ireland said on Thursday. The move by the US software and consultancy services provider marks the biggest job announcement in the country's multinational sector this year. IBM is already one of the largest multinational employers in Ireland with 3,000 staff. The new roles will require the employees to build advanced software based on generative artificial intelligence in high growth areas like security, automation and hybrid cloud. Here's the ...
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Key diary datesMonday 6- Wednesday 8 May: High-Level Conference on Antimicrobial Resistance (AMR) organised by the Belgian presidency of the Council of the EU. Monday 6 May: Deadline for online platforms regulated under the Digital Services Act to submit transparency reports. Tuesday 7 May: NGO Seas at Risk to publish report on under-sea mining. In spotlightEU platform rules return to the spotlight this week, since today (6 May) is the deadline for the largest online platforms – those with more than 45 million users per month – to hand in their transparency reports under the Digital Services A...
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The European Union’s Digital Markets Act (DMA) should have been a game-changer in Europe's quest to tame the titans of cyberspace. However, now that the DMA has come into force, it looks set to stumble into the same pitfalls as past EU endeavours. Brussels has once again cast too wide a regulatory net, strangling competition and innovation and leaving consumers scratching their heads in frustration. The EU hopes cracking down on tech giants, the gatekeepers of our digital world, will open the floodgates to competition, innovation, and better deals for consumers. But history tells a different t...
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Apple’s stocks underperformed most of the US tech shares this year due to weakened iPhone sales and a lack of AI advancement. Apple’s shares declined by 12% year-to-date, following Tesla’s 32% drop, making it the second-worst performer among the Magnificent Seven stocks. It has also lost its crown to Microsoft as the world’s largest market cap company due to these setbacks. However, Apple has beaten earnings expectations in the past four quarterly reports. Though this doesn’t guarantee a positive reaction from share prices, as investors tend to look at more comprehensive metrics when assessing...
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Fast-fashion retailer Shein has been designated under the EU’s online platform rules as a Very Large Online Platform (VLOP) due to a soaring number of European users, the European Commission said today (26 April). The Singapore-based website will face stricter requirements under the EU's Digital Services Act — and must adopt specific measures to protect users' well-being, and monitor illegal activity such as counterfeit goods. Shein now has over 45 million monthly users within the bloc and will have to comply within four months, so by the end of August, the commission said. The company, founde...
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The US big tech companies once again demonstrated their strong momentum in the first quarter, with the Google parent company, Alphabet, and its rival Microsoft, both surpassing market expectations in their quarterly earnings reports. Alphabet's stocks surged by more than 10%, and Microsoft's shares rose nearly 5% in after-hours trading. The two tech giants are widely seen as the main flag bearers for artificial intelligence (AI), thus providing optimism to the sector. Below are the details of their earnings results and the performance of their respective core businesses in the first quarter. A...
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A US government review board said in a scathing report released on Tuesday that a "cascade of security failures" by Microsoft allowed Chinese-backed hackers to break into the email accounts of senior US officials. The Cyber Safety Review Board concluded that the online intrusion was "preventable" and that Microsoft's corporate culture "deprioritised enterprise security investments and rigorous risk management". It said that "Microsoft's security culture was inadequate and requires an overhaul" given the company's central role in the global technology ecosystem. European Commission ordered to b...
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Lawmakers are set next week (10 April) to approve rules under the EU's General Data Protection Regulation (GDPR) designed to ease cross-border cooperation between national data protection authorities. The procedural rules, proposed by the European Commission in July 2023 as an addition to the GDPR, aim to ensure that privacy complaints involving several member states are resolved swiftly, and to give businesses more legal certainty. The rules also aim to give complainants as well as parties under investigation more rights in disputes. Under the GDPR, which came into force in 2018, complaints a...
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Google has agreed to delete billions of records containing personal information from people in the US who used its Chrome web browser. The purge of information collected from more than 136 million people comes as part of a lawsuit settlement, the details of which emerged in a court filing on Monday. The lawsuit from 2020 alleges that Google tracked users' internet activity even when they were in "Incognito" mode. French watchdog imposes a €250 million fine on Google amid dispute with news publishersGoogle vigorously fought the lawsuit until US District Judge Yvonne Gonzalez Rogers rejected a r...
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