headlines...by halloapp

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01-10-2024

TECH

• Facebook and Instagram, owned by Meta, will hide harmful content from teenage users and implement stricter content controls amid lawsuits and criticism.

• The European Commission is investigating whether Microsoft’s investment in OpenAI violates EU merger regulations, potentially impacting competition.

• Intel is acquiring Silicon Mobility to develop AI-enhanced system-on-chips (SoCs) for automotive applications, including EV energy management.

• Microsoft and the Pacific Northwest National Laboratory have used AI to discover a new battery material that could reduce lithium use by up to 70%.

• Tech startup Rabbit has unveiled the Rabbit R1, an AI-powered walkie-talkie with a touchscreen and Rabbit OS, available for preorder at $199.

• Shares of Aehr Test Systems fell 16% after the company lowered its sales outlook due to a slowdown in electric vehicle sales growth. However, the company reported strong Q2 2024 earnings, with revenue of $21.4 million, up 45% YoY, beating expectations. Aehr Test Systems revised its full-year fiscal 2024 guidance for revenue to be between $75 million and $85 million.

• Taiwan Semiconductor Manufacturing (TSMC) reported flat Q4 revenue of $20.10 billion, beating expectations, but December sales dropped by 8.4%.

• Google is facing a $1.67 billion damages demand in a patent trial over allegations of infringing patents related to AI processors. Singular Computing is seeking up to $7 billion in damages.

• The World Economic Forum’s Global Risks Report 2024 highlights AI-driven misinformation as the top global risk before war and climate change.

• Google partners with LG TVs, TikTok, Samsung, and PC manufacturers to introduce new features like Quick Share and streaming TikTok videos on TVs.

MEDIA

• Twitch, owned by Amazon, is laying off around 500 employees, or 35% of its workforce, due to ongoing losses and high costs.

• Don Lemon, formerly of CNN, will be hosting a new show on the platform X. The show aims to attract advertisers and increase viewership.

• Amazon introduces Matter Casting, a video streaming feature that allows users to wirelessly stream content from their phones to Amazon devices.

• Warner Bros Discovery has partnered with Tom Cruise to develop and produce original and franchise theatrical films in 2024, after the Hollywood strike.

• Lucasfilm is producing a new ”Star Wars” movie titled ”The Mandalorian & Grogu,” directed by Jon Favreau, featuring characters from the series.

CONSUMER

• Walmart partners with Microsoft for AI models, expands drone delivery to 1.8 million households in Dallas-Fort Worth area.

• WD-40 Company reports strong Q1 2024 results with a 12% increase in net sales, reaching $140.4 million, driven by growth in all segments.

• Gildan Activewear’s ousted CEO and activist investor Browning West are battling the board over governance issues and board member replacements.

• Rent the Runway is cutting 10% of its corporate staff, including the departure of its COO, as part of a restructuring plan to save $11-13 million annually.

• Pantone announces “Peach Fuzz” as the Color of the Year 2024, influencing fashion, home furnishings, and supply chains worldwide.

REAL ESTATE

• More Americans expect lower mortgage rates, with 31% predicting a drop, improving affordability and potentially increasing home sales.

• Nine people, aged 19-22, were charged after a brawl at a Brooklyn synagogue over an illegal tunnel being filled with cement.

ECONOMIC

• The Dow Jones Industrial Average dropped due to losses in Walgreens Boots and Chevron shares. Boeing is facing investigations into door and fuselage blowouts on its 737 Max 9 planes.

• The World Bank predicts that global economic growth will slow for the third consecutive year due to various factors, including tight monetary policy, feeble global trade, and geopolitical tensions.

• The US trade deficit unexpectedly narrowed in November due to falling imports, while Canada’s trade surplus narrowed as imports increased.

• BlackRock, the world’s largest asset manager, is planning to cut approximately 600 jobs, or 3% of its workforce, due to industry changes.

• UK Prime Minister Rishi Sunak plans to introduce legislation to overturn wrongful convictions of over 700 post office branch managers due to faulty software provided by Fujitsu. Compensation will also be provided.

CRYPTO

• Valkyrie co-founder predicts $10 billion or more to flow into spot bitcoin ETFs by end of year. Australian shares close lower due to heavyweight commodity stocks dragging down the market and a slowdown in inflation. Australian inflation slows to its lowest in nearly two years, indicating a similar trend in upcoming US inflation figures. Japanese stocks rally for third day, while Hong Kong’s Hang Seng Index falls for seventh consecutive day. US asset managers hopeful SEC will approve spot bitcoin ETFs, despite recent social media hack causing confusion. SEC’s official Twitter account hacked, leading to false tweet about approval of bitcoin ETFs.

• The global blockchain IoT market is projected to reach $20.89 billion by 2032 with a CAGR of 43.4%, driven by rising IoT adoption and blockchain-based solutions. North America leads, while Europe shows fastest growth. The global IoT operating systems market is expected to reach $4.06 billion by 2032 with a CAGR of 23.3%, driven by cloud computing and mobility. North America leads, while Europe shows fastest growth. Market is fragmented with competitive strategies.

• India has requested Apple and Google to remove offshore crypto exchange apps, including Binance, from their app stores due to alleged illegal operations.