Meta sells Giphy to Shutterstock to comply with UK regulator order May 23, 2023 Shutterstock said today it would buy animated-images platform Giphy from Meta for $53m in cash, months after the Facebook owner had agreed to divest the company on competition concerns. Britain’s competition regulator last year ordered Meta to sell Giphy over fears that it could deny or limit competitors such as Snapchat and Twitter access to the target’s content. Meta had [...]
Big tech and banks conspire in new scheme to combat fraud May 23, 2023 An alliance of banks, tech companies and telecoms groups are set to pilot a new scheme to collect information on scammers as attempts to tackle the UK’s fraud epidemic step up a notch. The new group, Stop Scams UK, has members including the UK’s largest incumbent banks, challenger banks, telecoms providers and big tech firms. [...]
London AI firm bags $250m injection led by Qatari sovereign wealth fund May 23, 2023 A London-based artificial intelligence firm has announced a $250m cash injection led by the Qatari sovereign wealth fund today as investors rush to capitalise on a boom in AI technology.
Google boss Sundar Pichai warns AI is ‘too important not to regulate’ May 23, 2023 Artificial Intelligence (AI) is too important not to regulate and the US and EU must work together to develop “robust” rules to guide the growth of the powerful new technology, Alphabet’s boss Sundar Pichai said today.
History shows AI will create more jobs than it destroys, Deutsche Bank analysts argue May 22, 2023 Analysts at Deutsche Bank have become the latest experts to argue that AI will create more jobs than it destroys. In a note examining the history of technological advancement, Deutsche Bank’s Henry Allen and Jim Reid investigate the historical response to technological breakthroughs. Looking at long-term unemployment data, the analysts point out that changes in [...]
Meta slapped with whopping £1bn fine over Facebook data breach May 22, 2023 Meta, the owner of Instagram, Facebook and Whatsapp, has been slapped with a record €1.2bn (£1bn) fine by the Ireland's data protection agency over its transfer of European users’ Facebook data to its US server.
Instagram back online this morning after global outage left everyone scrolling without luck May 22, 2023 Instagram was restored online after experiencing global outages, the social media company said. Down Detector, a website that tracks outages, reported 56,628 reports at around 11pm on Sunday. The Down Detector location map showed the outages spread across the UK with reports of outages coming from the US and Australia as well. Instagram said at [...]
Meta: Why is Facebook, WhatsApp and Instagram owner facing a record fine from the EU? May 22, 2023 Meta will face a record fine over its transfer of European users’ Facebook data to its US server. The fine, according to reports in Sky News, is expected to be handed to the social media giant this morning by Ireland’s Data Protection Commission (DPC), as it orders Meta to stop using “complex legal instruments” to [...]
BT share price tumbles as firm announces tens of thousands job cuts May 18, 2023 BT has announced plans to slash its workforce by as much as 42 per cent over the next seven years in a bid to slash costs and become a “leaner business”.
Experian shares tumble as investors fret over cautious forecast May 17, 2023 Shares in credit checker Experian fell sharply in early trading this morning after the firm revealed it had suffered a 19 per cent contaction in profits for the full year.