META DATA TRANSFER US
Zomato stops ‘Xtreme’ service; Reliance to bring back Shein
Zomato has halted its hyperlocal goods delivery service due to a lack of demand.
AI is learning from what you said on Reddit, Stack Overflow or Facebook. Are you ok with that?
Some longtime users have attempted to erase their previous contributions or transform them into nonsense, but their efforts have not yielded significant results. A few governments, such as Brazil's privacy regulator on Tuesday, have also attempted to intervene. Meta has also encountered resistance in Europe, where it recently put on hold its plans to start feeding people's public posts into training AI systems
EU accuses Meta of breaking digital rules with paid ad-free option
Meta introduced a no-ads subscription service for Facebook and Instagram in Europe last November. The company stated that users who agree to tracking receive a free service supported by advertising revenue, while those who opt out can choose to pay to keep their data private.
Wall Street closes subdued as investors sit, wait for inflation data
Tech stocks like Amazon surged as market volatility persisted. Atlanta Fed President hinted at rate cuts amidst narrowing inflation. Micron's revenue forecast met mixed reactions, reflecting ongoing market uncertainty.
Dow jumps nearly 1% amid broader market rally in countdown to inflation data
Investors anticipated remarks from Fed's Mary Daly amid discussions on sustained higher interest rates. As of 11:53 a.m. ET, the Dow Jones rose 0.88%, S&P 500 saw a slight gain, while Nasdaq dipped marginally.
Meta AI assistant rolls out with text, and image features
Meta has launched Meta AI across WhatsApp, Facebook, and Instagram, offering text and image generation capabilities. Ryan Cairns, VP of Engineering at Meta, highlighted the advantages of Meta AI over competitors like Gemini, ChatGPT, and Copilot.
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Dow, S&P 500 edge higher after soft retail sales data; eyes on Fed speakers
Data showed US retail sales rose 0.1% in May, against 0.3% increase expected by economists polled by Reuters. Markets marginally hiked bets on two interest rate cuts from the Fed this year following the data, according to LSEG's FedWatch, clashing with the most recent projections from policymakers showing they broadly expect just one interest rate cut this year.
Meta will not launch Meta AI in Europe for now
Meta Platforms postpones Meta AI launch in Europe due to Irish privacy regulator's request on user data from Facebook and Instagram.
Can you opt out of Meta's AI scraping? Sort of
Meta announced the expansion of its AI services globally, using public information to train its AI starting June 26, sparking privacy concerns in Europe. Users in the U.S. were already subject to this practice. The program's future expansion remains uncertain.
New York lawmakers pass measure to protect youths on social media
New York state lawmakers passed legislation to protect children online by restricting social media platforms from exposing 'addictive' content to users under 18 without parental consent.
Meta hit with privacy complaints in Europe over AI plans
A Vienna-based privacy campaign group filed complaints in 11 European countries against Meta on Thursday, saying the global tech giant's planned privacy policy change would allow "unlawful" use of personal data for artificial intelligence technology. Through the complaints, the group asks data protection authorities in the 11 European countries to stop Meta's new privacy policy before it enters into force in late June and fully investigate it.
US stocks slip in choppy trading after weaker jobs data
Oil companies Exxon Mobil and Chevron dropped 2.3% and 1.5%, respectively, as demand concerns weighed on crude prices. Energy stocks led S&P 500 sectoral declines with 1.5% fall. Small-cap stocks, typically more sensitive to economic expectations, declined 1.2%, while the rate-sensitive real estate sector gained 0.9%.
Dow slips nearly 1% as markets juggle data, technical glitches
Shares of megacaps including Apple and Meta gained between 0.8% and 2.1%, as yields on the benchmark U.S. 10-year and five-year notes fell around 10 basis points each. GameStop soared 24.1% after a weekend Reddit post from stocks influencer Keith Gill, also known as "Roaring Kitty", showed a $116 million bet on the gaming retailer.
Pill for China plus one
Indian pharma CEOs met senior officials in FDA and other key agencies to start a conversation. Even if a little late, given the looming presidential election, the proposal deserves attention. The basic idea is to capitalise on India's expertise and infra for manufacturing through financial incentives, tech sharing, collaborative research and tech transfers to expand production in both countries. Pursue onshoring in America and friendshoring in India to reduce dependence on China. And aggregate US, Indian and European demand for certain drugs, as IPA secretary general Sudarshan Jain told me.
Donald Trump joins the TikTok video platform he once sought to ban
Politico, which first reported the news, said he posted a launch video on his account on Saturday night. The video showed Trump greeting fans at an Ultimate Fighting Championship fight in Newark, New Jersey.
Dow slips nearly 1%, Nasdaq below 17,000 as rate worries push bond yields higher
Megacaps Microsoft, Alphabet and Meta dipped between 0.3% and 0.6% as U.S. bond yields across the board rose to near four-week highs after Tuesday's unexpectedly strong consumer confidence data. The Dow led declines, falling to its lowest in nearly one month, and all major S&P 500 subsectors were in the red in early trading.
Top EU data regulator says tech giants working closely on AI compliance
Des Hogan, Data Protection Commissioner in Ireland, highlighted the broad powers of national regulators to enforce changes in AI products for data privacy compliance.
How Google and Meta's Ad transparency reports reveal—and conceal—political Ad spend
Despite abundant data, Google and Meta’s ad transparency reports often obscure more than they reveal. While intended to enhance transparency, critics argue they create an illusion of openness, complicating the analysis of political ads and raising concerns about content moderation.
Microsoft's UAE deal could transfer key US chips and AI technology abroad
Microsoft President Brad Smith revealed details of a deal with UAE-backed AI firm G42, potentially transferring AI technology components like model weights, prompting national security concerns.
US stocks bounce back ahead of long weekend
The Nasdaq index surged over 1% and was heading for its fifth consecutive week of gains, while the Dow Jones Industrial Average faced a potential first weekly loss in five after hitting a two-week low on Thursday. Trading activity is expected to be muted as the U.S. equity market is closed on Monday for Memorial Day.
India must loosen the cords tying it too tightly to the pervasive influence of global Big Tech
India aims for self-sufficiency through autarky and atmanirbhar initiatives, focusing on nurturing the 13 markers of 'Viksit Bharat' for a fully digitised economy and sustained growth in various sectors.
Scale AI valued at $14 billion in Nvidia, Amazon-backed funding round
Top tech companies are racing to build AI into their products and services. Startups catering to the surge in demand for AI chips and machine learning have been a bright spot in an otherwise subdued private funding market.
Scale AI valued at $14 bln in Nvidia, Amazon-backed funding round
Top tech companies are racing to build AI into their products and services. Startups catering to the surge in demand for AI chips and machine learning have been a bright spot in an otherwise subdued private funding market.
Microsoft asks hundreds of China staff to relocate as tensions with US simmer
Amid strained US-China relations, Microsoft asks 700-800 Chinese engineers in its China-based cloud and AI operations to consider relocating outside the country, offering transfers to the US, Ireland, Australia, and New Zealand. This move follows US scrutiny on Chinese imports. Microsoft reaffirms commitment to China while navigating regulatory challenges.
Eye on AI: Apple’s chip game, Meta's GenAI tools for advertisers and other top developments
Apple integrates AI features into data centres and new iPad Pro. Meta launches enhanced generative AI tools. OpenAI joins C2PA steering committee. US lawmakers introduce bill on AI models export control. Microsoft and OpenAI fund AI literacy for voters.
Meta, others should give users free option without targeted ads, EU privacy watchdog says
The U.S. tech giant launched the no-ads subscription service for Facebook and Instagram in Europe last November, saying users who consent to be tracked get a free service which is funded by advertising revenues.
How tech giants cut corners to harvest data for AI
The race to lead AI has become a desperate hunt for the digital data needed to advance the technology. To obtain that data, tech companies including OpenAI, Google and Meta have cut corners, ignored corporate policies and debated bending the law, according to an examination by The New York Times.
Meta pushes back on US FTC's bid to amend 2020 privacy settlement
Meta disclosed the bugs in July 2019, the Facebook-parent said in a filing on Thursday, adding it had spent $5.5 billion on its privacy program and related privacy initiatives.
Zepto’s $300 million funding; Meta taps Reliance for data centre
The Mumbai-based Zepto is eyeing a valuation of around $2.5-3 billion, as against the $1.4 billion it was assigned on turning unicorn last year, sources said. This is a huge bump up amid a largely sluggish funding market even for Zepto which has been growing fast.
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