What is Deutsche Welle's approach to generative AI?
German public broadcaster Deutsche Welle (DW) has outlined its approach to using generative AI in journalism. While DW uses AI tools to analyse data sets, translate articles, improve search engine performance and support social media monitoring, the broadcaster's journalists continue to control all applications and review content before publication. DW said it would continue to be transparent about its use of AI and would not rely on AI chatbots as accurate sources of information. The broadcaster also said it saw no value in publishing photorealistic images generated by AI.
UK urges Meta not to roll out end-to-end encryption on Messenger and Instagram
The UK Home Secretary has urged Meta to implement safety measures to protect children from sexual abuse when rolling out end-to-end encryption on Instagram and Facebook Messenger. Meta, which already encrypts messages on WhatsApp, plans to expand the feature to its other platforms, arguing that it enhances safety and security. However, the government has said the proposed Online Safety Bill, which passed in parliament on Tuesday, does not ban end-to-end encryption but requires tech firms to take action against child abuse and develop technology to scan encrypted messages as a last resort.
Sky calls on UK government to tackle red tape
Sky has called on the UK government to address regulatory red tape that is hindering the creative sector ahead of the government's plans to review TV trends. The broadcaster has warned that a significant amount of its resources are being used to deal with regulatory requirements, with one day a week of Sky's technology resources being dedicated to regulatory needs. Sky has called for an "innovation impact assessment" that will require government departments to consider the impact of new rules on companies' ability to innovate. The company also highlighted the growth potential of the media and entertainment sector and the need for government support for studio infrastructure.
Dollar Rally Is Crushing One of the Most Popular Trades of 2023
The US dollar has unexpectedly rebounded against virtually every major currency over the past two months, causing investors to unwind trades and officials in China and Japan to protect their currencies. The greenback's resurgence is a result of the US economy's surprising resilience and persistent inflation. The Bloomberg Dollar Spot Index has experienced an eight-week rally since mid-July, pushing it back near this year's highs. The rise in the dollar has caused US companies to brace for a hit to their earnings, and has evoked painful memories of 2022 when the dollar pushed up commodity prices and increased the burden of foreign debts. The dynamics behind the dollar's recent rise are expected to continue, causing analysts to abandon bearish calls on the currency. However, a US downturn could restrain the dollar. Overall, emerging-market nations are expected to bear the brunt of the dollar's rise as it makes imports more expensive, exaggerates inflation pressures, and encourages central banks to hold interest rates high.
Amazon wins jury trial over technology in Kindle, music apps
Amazon has won a patent infringement case brought against it by inventor Curt Evans' TrackTime. The case related to features in Amazon's Music and Kindle apps that allow users to search for specific parts of song lyrics and audiobooks. The jury ruled that Amazon's technology did not infringe on a patent owned by TrackTime and also determined that the patent was invalid. TrackTime had estimated that Amazon owed up to $60.7m in damages for the alleged infringement.
EU’s Von Der Leyen Says Massive China Subsidies for EVs Requires a Probe
The European Union (EU) has called for an investigation into Chinese support for electric vehicles (EVs) due to the substantial subsidies provided to the industry. The EU's executive arm, the European Commission, announced an anti-subsidy probe last week, which could result in tariffs on EV imports from China. This move has been criticised by Beijing, which has called it an act of protectionism. If tariffs are imposed, China is expected to restrict access to its market. The investigation is part of a broader EU effort to manage its relationship with China and address perceived supply chain and national security risks.
China's BYD sets Dolphin EV price in Japan at 3.63 mln yen -website
Chinese automaker BYD has announced the suggested retail pricing for its Dolphin electric vehicle (EV) in Japan, with prices starting at ¥3.63m ($24,565.20). This marks BYD's second EV model in Japan, after launching a more expensive electric sports utility vehicle earlier this year. BYD's expansion in Japan could pose a threat to Japanese rivals, as they struggle to compete in China against BYD and other domestic car makers amid the rapid transition to EVs.
Neuralink approved to recruit humans for brain-implant trials
Elon Musk's brain-implant startup, Neuralink, has received approval from an independent review board to begin recruiting patients for its first human trial. The company is seeking people with paralysis to test its experimental device in a six-year study. Neuralink is developing a brain-computer interface (BCI) that can collect and analyze brain signals. The company's announcement comes after it received regulatory approval for a trial, although its previous testing in animals is under scrutiny after allegations of unnecessary suffering. The company did not provide details about when and where the trial will be conducted or how many participants it will involve.
BYD Launches Dolphin Hatch to Crack Japan’s Tricky EV Market
Chinese automaker BYD has introduced its Dolphin electric car to the Japanese market in an effort to boost sales. The compact hatchback will be priced from JPY3.63m ($24,560) and will come in two models with different battery sizes and ranges. BYD, China's largest carmaker, has struggled to make headway in the Japanese market due to a preference for domestic brands and a focus on hybrid vehicles rather than pure electric cars. BYD plans to open 100 dealerships and showrooms in Japan by 2025 and hopes that the Dolphin will be successful in the country due to the improving quality of its vehicles and changing attitudes towards Chinese products.
How to Borrow Money in a High-Rate World
The Federal Reserve has raised interest rates to the highest levels in 22 years, making mortgages, car loans and credit-card debt more expensive for consumers, but borrowers still have options in a high-rate world. Loans and new products offer short-term cash infusions at lower rates than credit cards, while some services even provide short-term loans with no interest. However, once fees are factored in, these options might not be much cheaper than a standard credit card, so borrowers should scrutinize the fine print and calculate the annual percentage rate (APR) before taking on any credit.
Ex-Deutsche Bank investment banker pleads guilty to crypto fraud
A former Deutsche Bank investment banker, Rashawn Russell, has pleaded guilty to charges of misappropriating funds from investors he promised big returns from cryptocurrency trading. Russell faces up to 30 years in prison and will be required to pay over $1.5 million in restitution. He allegedly solicited investments by claiming to run a cryptocurrency fund and used the funds for personal expenses and gambling. Prosecutors and regulators are increasingly cracking down on fraud involving digital assets. Deutsche Bank has not commented on the case.
Listing duo offers followers a cautious playbook
Chip designer Arm and grocery delivery company Instacart have both had successful stock launches, suggesting that the IPO market may be reopening. This podcast discusses how cornerstone investors and low valuations have contributed to their success.
Video platform Rumble rejects MPs’ call to demonetise comedian
Video-sharing platform Rumble has accused a parliamentary committee of “deeply inappropriate” behaviour after it asked whether the site would suspend payments to comedian Russell Brand. The chair of the culture, media and sport committee wrote to Rumble expressing concern that Brand “may be able to profit from his content on the platform” after YouTube announced it would no longer provide advertising revenues for his videos. Rumble responded by calling the letter “disturbing” and said parliament’s demands were “deeply inappropriate and dangerous”, adding that the platform was devoted to a “free internet”.
Wipro CFO Dalal resigns, insider Iyer named new finance chief
Jatin Dalal, the Chief Financial Officer (CFO) of Indian IT services provider Wipro, has resigned from his position after more than two decades with the company. Aparna Iyer, who has also been with the company for over 20 years, will replace Dalal as CFO, effective September 22. Wipro CEO Thierry Delaporte praised Iyer for her role in the company's finance transformation and her contribution to financial strategy and planning, investment programs, and transformation initiatives. Dalal joined Wipro in 2002 and became CFO in 2015. His last day with the company will be November 30.
Toshiba set to go private after US$14-billion takeover bid by JIP succeeds
The Globe and Mail
Toshiba has accepted a $14bn tender offer from private equity firm Japan Industrial Partners (JIP), which will see the embattled industrial conglomerate go private. A consortium led by JIP saw 78.65% of Toshiba shares tendered, giving the group a majority of more than two-thirds, enough to squeeze out remaining shareholders. Toshiba is expected to be delisted as early as December. The deal marks the largest merger and acquisition deal in Japan this year, with Japan the only major market in Asia to have seen growth in mergers and acquisitions for the year to date.
Solar panel breakthrough could allow ‘miracle material’ production
Scientists from the University of Surrey have developed a nanoscale "ink" coating that could improve the stability of perovskite solar cells, making them suitable for mass production. Perovskite solar cells are cheaper, lighter, and more efficient than traditional silicon-based cells, but currently suffer from a drop in efficiency during the manufacturing process. The researchers discovered an aluminium oxide that minimises this drop in efficiency, potentially allowing for the mass production of perovskite solar cells and reducing the cost of solar panels. Perovskite has been hailed as a "miracle material" for its potential to transform a range of industries, including renewable energy.
Nvidia, other US chip stocks stall over valuation, industry worries
Shares of Nvidia and other US semiconductor companies are declining as investors grow wary of steep valuations, rising Treasury yields and signs of industry concern. The Philadelphia SE Semiconductor index rose more than 50% this year until July, with Nvidia's shares tripling as the company's market value surpassed $1tn. However, the SOX semiconductor index is off over 7% this month and shares of Nvidia have declined more than 14% in September amid concerns about valuations and increasing Treasury yields.
Thailand's new PM meets Tesla chief Musk in New York
Thailand's new Prime Minister, Srettha Thavisin, met with Tesla CEO Elon Musk in New York to discuss the electric vehicle (EV) industry. Thailand has been offering incentives to EV and battery makers and tax cuts to local EV buyers in order to remain a regional auto centre. The country is currently Asia's fourth-largest automobile assembly hub and produces around 1.5 million to 2 million vehicles annually, half of which are exported. EVs are gaining traction in Southeast Asia, making up 6.4% of all passenger car sales in the region in Q2 2021. Thailand is the largest market for EVs in Southeast Asia, followed by Vietnam and Indonesia. Tesla launched its models in Thailand last year, but Southeast Asia accounted for less than 1% of Tesla's global sales.
US chip giant cuts jobs in Shanghai as economic headwinds swirl: report
South China Morning Post
Qualcomm is reportedly making job cuts at its Shanghai office as it deals with ongoing technology tensions between the US and China and economic headwinds. The company, which has a significant presence in China, did not disclose the number of layoffs, but denied speculation that the cuts would be large-scale or result in an office closure or retreat from Shanghai. Qualcomm has been facing weak demand for consumer electronics, with a 23% drop in year-on-year revenue in Q3 2023. Other US chip companies have also been cutting staff in China due to economic downturns.
Novogratz's Galaxy Digital seeks to grow in 'critically important' European market
Crypto firm Galaxy Digital is expanding its presence in Europe and has appointed its first CEO for the region, Leon Marshall. Marshall, who joined the company in June as head of sales, will oversee operations and client relationships as part of Galaxy's European expansion. The move comes as the firm aims to tap into growing demand in Europe for institutional crypto products. Galaxy is building its team in Europe, particularly in investment banking, and plans to develop crypto exchange-traded products through a strategic alliance with European asset manager DWS. The firm's services include trading, lending, advisory services, and bitcoin mining.