Meta and TikTok have won a legal challenge against the methodology used by the European Union to calculate a supervisory fee. Under the Digital Services Act (DSA), the EU imposed a fee of 0.05% of a company’s annual worldwide net income to cover the cost of monitoring compliance. Both companies argued in court that the methodology was flawed, as it led to disproportionate fees by factoring in profit or loss and the number of active users. The General Court in Luxembourg sided with Meta and TikTok, ruling that the EU regulators must reformulate the fee calculation method within 12 months.…
Author: Raja Zahid Khanzada
U.S. technology giant Oracle’s shares surged by a massive 43% to a new record high on Wednesday. This historic jump has put the company on track to join the exclusive trillion-dollar club, with its market valuation now at approximately $913 billion. The surge also significantly boosted the wealth of co-founder Larry Ellison, whose net worth increased by nearly $100 billion to a total of around $392.6 billion. He is now closing in on Elon Musk in the race for the world’s richest person, with a gap of just $47.3 billion. This massive stock increase follows Oracle’s announcement of four new…
China’s internet regulator, the Cyberspace Administration of China (CAC), has summoned and penalized the popular social media app Xiaohongshu. In a statement released on Thursday, the regulator accused the platform of “damaging the internet ecology.” Xiaohongshu has not yet responded to the accusation.
Amid the growing trend of digital currencies, U.S.-based stablecoin issuer Figure Technology has marked a significant achievement. The company raised $787.5 million in its Initial Public Offering (IPO) on Wednesday, pushing its market valuation to $5.29 billion. This success comes at a time when digital assets are gaining broader acceptance, and several other crypto firms are also preparing to enter public markets. Founded in 2018, Figure Technology uses blockchain technology to connect borrowers and lenders for home loans. The company claims it can fund home equity loans in just 10 days, a significant reduction from the industry average of 42…
When Audi executives first saw the Zeekr 001, a long-range electric vehicle with European aesthetics, in 2021, it was a wake-up call. The premium German automaker realized that if it wanted to compete in the Chinese market, it would need access to Chinese technology. As a result, Audi partnered with Chinese firm SAIC to build the AUDI E5 Sportback in just 18 months, using batteries, electric powertrain, and other advanced systems provided by its partner. Today, major global automakers like Toyota, Volkswagen, Renault, and Ford are also leveraging technology from Chinese partners to roll out new electric vehicle (EV) models…
Chinese e-commerce giant Alibaba has announced its plan to raise $3.2 billion to fund its international expansion and strengthen its cloud computing business. The company will raise the capital through a “zero-coupon convertible bond,” which is the largest deal of its kind this year. Approximately 80% of the funds will be used to expand data centers, upgrade technology, and improve services to meet the growing demand for cloud solutions. The remaining amount will be invested in boosting the market presence and efficiency of its e-commerce ventures. According to CEO Eddie Wu, Alibaba’s investments in artificial intelligence (AI) are already yielding…
A recent study by academics at George Washington University simulated a Federal Reserve meeting using artificial intelligence (AI) agents. These AI agents were modeled on real-life policymakers, with their behaviors based on the historical policy stances, biographies, and public speeches of each Federal Open Market Committee (FOMC) member. The AI-driven FOMC was then tasked with making decisions based on real-time economic data and financial news. The findings showed that when political pressure was introduced, the AI agents became more divided, and dissent became more common. The researchers concluded that this simulation demonstrates that the Federal Reserve is not entirely insulated…
Selena Gomez has revealed why she chose to return to her iconic role as Alex Russo in the reboot, Wizards Beyond Waverly Place. In a recent interview with Allure, the actress and singer shared her personal connection to the original series and its cast. Gomez, who was 15 when the series premiered in 2007, explained that the show was a significant part of her formative years. “I was in these crucial years of my brain developing,” she said. She also expressed her deep bond with the cast, including David Henrie and Jennifer Stone, stating, “All of those people that are…
According to a source close to People magazine, actress Zoe Kravitz and singer Harry Styles are getting closer, and their relationship has progressed to “more than casual.” The source revealed that the pair “have great chemistry, lots to talk about, and seem to be having fun together.” Previously, TMZ had reported that the couple was casually dating, but this new information suggests the relationship is becoming more serious. A key sign of this deepening bond is that Zoe has already introduced Harry to her father, famed rock star Lenny Kravitz. An insider noted, “Over the weekend, Harry even met up…
In a rare interview, actress Julia Roberts has shared insights into her strict parenting style with her husband, Danny Moder. The 57-year-old star revealed in the inaugural issue of 72 Magazine, obtained by US Weekly, that she and Moder wanted their children to grow up with “values,” so they implemented firm rules. “I think they were, for sure, some of the last kids in their peer groups to get phones and stuff like that,” Roberts said about limiting her children’s internet access. She explained that when their children were younger, she and Moder were “considered some of the stricter parents.”…
