Federal Prosecutors Charge German Businessman in $150 Million Crypto Fraud Scheme Federal prosecutors announced on Friday that charges have been brought against a German businessman for allegedly defrauding investors out of more than $150 million in a cryptocurrency fraud scheme. Horst Jicha, the founder and CEO of USI Tech, a crypto mining and trading platform,…
Shares of Boeing fall after FAA orders temporary grounding of Boeing 737 Max 9 aircraft Introduction Shares of Boeing fell in premarket trade Monday, as markets digested the news that the Federal Aviation Administration had ordered a temporary grounding of dozens of Boeing 737 Max 9 aircraft. The Federal Aviation Administration on Saturday said around…
Telegram CEO Defends Controversial Stance on Handling Sensitive Content Amidst the ongoing debate around social media platforms and their management of incendiary and graphic content related to Hamas and Israel, Pavel Durov, the CEO of Telegram, has sparked controversy by defending his messaging app’s decision to allow sensitive war-related coverage. Durov argues that Telegram can…
Confirmation of Democrat Anna Gomez Breaks Deadlock at FCC The Senate has voted to confirm Democrat Anna Gomez as a commissioner for the Federal Communications Commission (FCC), ending the deadlock that has persisted throughout the Biden presidency. The final vote count was 55-43, in favor of Gomez. This confirmation follows a long battle to confirm…
Cruise to Reduce Robotaxi Fleet in San Francisco Introduction The California Department of Motor Vehicles has informed AsumeTech that Cruise, a subsidiary of General Motors, is planning to reduce its robotaxi fleet by 50% in San Francisco. This decision comes after multiple crashes involving Cruise autonomous vehicles in the city, including one incident where a…
Tencent Reports Surge in Profit for Q2, Missing Expectations Tencent, a Chinese technology giant, reported a significant increase in profit for the second quarter. However, the company fell short of expectations. Despite this, Tencent’s cost-cutting measures started to yield positive results, with sales rising in its core gaming business, as well as its cloud and…
Title: Developers Sue Apple for Abusive and Anticompetitive Behavior, Seeking £800 Million in Damages Introduction In a groundbreaking move, UK-based developers are filing a class-action damages claim against Apple, accusing the tech giant of abusing its dominant market position and charging an unfair 30% fee on in-app sales made through its iOS App Store. This…
Microsoft and Activision Blizzard Extend Merger Agreement Microsoft and Activision Blizzard have agreed to extend their merger agreement until October 18, 2023. The move to extend the agreement came after their initial self-imposed deadline to complete the $69 billion deal expired on Tuesday. The European Commission approved the transaction in May, and last week the…
Microsoft and PlayStation Sign Agreement to Keep Call of Duty on PlayStation Phil Spencer has announced that Microsoft and PlayStation have signed a binding agreement to keep Call of Duty on PlayStation following the acquisition of Activision Blizzard. While little is known about the terms of the agreement, or how long it will last, it…
China’s New Home Prices Remain Unchanged in June China’s new home prices were unchanged in June, the weakest result this year, data showed on Saturday, increasing pressure on policymakers for more stimulus as economic recovery falters. The flat result from a month earlier, with rises slowing nationwide, was below May’s 0.1% gain, according to Reuters…
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