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Showing posts from July, 2023

Apple Supplier Foxconn Said to Invest $500 Million to Build Component Factories in India

Apple's main supplier, Foxconn Technology Group , plans to increase its investments to more than $1.2 billion (roughly Rs. 9,877 crore) in southern India's Karnataka state and add two component factories there, expanding a steady diversification from China to mitigate the risks of US economic and technology sanctions. At least one of the factories that the Taiwanese company plans to construct in Karnataka will produce Apple parts, including for iPhones, people familiar with the matter said. A formal announcement is expected as early as this week, the people said, declining to be named as the matter isn't public. The second plant will also be in Karnataka, but their exact location has yet to be decided. Foxconn is spending $500 million (roughly Rs. 4,115 crore) on these two complexes on top of a $700 million (roughly Rs. 5,760 crore) facility it aims to build on a 300-acre site close to the airport in Bengaluru, the capital of Karnataka, Bloomberg News previously reported...
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Elon Musk Takes Product and Engineering Chief Role at X, Yaccarino to Lead All Other Divisions

X owner Elon Musk and Chief Executive Linda Yaccarino will both oversee the trust and safety team at the company formerly known as Twitter, the social media concern said on Monday. X's product and engineering team will report to Musk, while Yaccarino will oversee all other divisions, including human resources, legal, finance, sales and operations, X said. The trust and safety team, which is responsible for content moderation, has been the focus of some criticism of the platform after Musk acquired the company last October. Researchers have accused X of relaxing content guard rails, leading to a spike in harmful posts. The company has said the majority of content views are of "healthy" posts. In an email to X employees on Monday, which was shared with Reuters, Yaccarino said the company is searching for a new leader for brand safety and suitability. The previous head of brand safety, A.J. Brown, who worked on efforts to prevent advertisements from appearing next to ...
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Walmart Buys Out Tiger Global’s Stake in Flipkart for $1.4 Billion: Report

Walmart has paid $1.4 billion (roughly Rs. 11,520 crore) to buy out hedge fund Tiger Global's investment in e-commerce firm Flipkart , the Wall Street Journal reported on Sunday, citing a letter by the hedge-fund to its investors. A Walmart spokesperson confirmed the transaction in an emailed response to Reuters but did not comment on financial details of the deal. The transaction will value the e-commerce firm at $35 billion (roughly Rs. 2,88,010 crore), the WSJ report said. "We remain confident in the future of Flipkart and are even more positive about the opportunity in India today than when we first invested," the Walmart spokesperson said. Tiger Global did not immediately respond to Reuters' request for comment. Earlier this year, the Economics Times reported that private equity firms Accel and Tiger Global, two early backers of Flipkart, were in talks to sell their remaining stake in the company to Walmart. Tiger Global held about 4 percent of the compan...
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Samsung Galaxy Z Flip 5 vs Galaxy S23 Ultra: Price in India, Specifications Compared

Samsung Galaxy Z Flip 5 was launched at the company's Galaxy Unpacked held in July. The smartphone, successor to last year's Galaxy Z Flip 4, is powered by a custom Snapdragon 8 Gen 2 SoC. It is backed by a 3,700mAh battery. The South Korean tech giant hosted another Galaxy Unpacked event in February this year, where it announced the launch of the Galaxy S23 series. The lineup included Galaxy S23, Galaxy S23+, and Galaxy S23 Ultra smartphones. The top-of-the-line Galaxy S23 Ultra is also equipped with a customised version of Qualcomm's Snapdragon 8 Gen 2 SoC. Both smartphones comes with some similarities and differences, in terms of their price and specifications. Here, we have compared the Samsung Galaxy Z Flip 5 and the Samsung Galaxy S23 Ultra. Samsung Galaxy Z Flip 5 vs Samsung Galaxy S23 Ultra: Price in India The recently launched Samsung Galaxy Z Flip 5 comes in two variants. The base 8GB RAM + 256GB storage variant is priced at Rs. 99,999, whereas the 8GB RAM + ...
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ITR Filing: How to Check IT Return Status Online

The deadline to file ITR (Income Tax Return)  without any late fee is approaching closer. The last date to file ITR for assessment year 2023-24 is July 31. So far, the Income Tax Department has not announced any extension in the last date for filing ITR. One can easily file ITR online using a few simple steps. Once the ITR is filed, all taxpayers await the tax returns to be credited into their bank accounts. If you have already filed ITR, but are awaiting the amount to be refunded, we are providing here some simple steps to check the ITR status online.  The Income Tax Department has announced July 31 to be last date to file ITR. Once the process is done, and e-verification, taxpayers will receive the refund that they are eligible for in their bank accounts. To check the status of refund status, the Income Tax Department provides on online tracking facility. To check ITR refund status for individuals, one needs PAN number and the Assessment Year. Generally, it takes around 7...
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US President Said to to Sign New Order to Limit US Tech Investments in China by Mid-August

US President Joe Biden is planning to sign an executive order to limit critical US technology investments in China by mid-August, according to people familiar with the internal deliberations. The order focuses on semiconductors , artificial intelligence and quantum computing . It won't affect any existing investments and will only prohibit certain transactions. Other deals will have to be disclosed to the government. The timing for the order, slated for the second week of August, has slipped many times before, and there is no guarantee it won't be delayed again. But internal discussions have already shifted from the substance of the measures to rolling out the order and accompanying rule, said the people familiar who spoke on condition of anonymity. The restrictions won't take effect until next year, and their scope will be laid out in a rulemaking process, involving a comment period so stakeholders can weigh in on the final version. A spokeswoman for the National Sec...
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Elon Musk Says X, Formerly Twitter, Reaches ‘New High’ With Over 540 Million Monthly Users

Elon Musk said on Friday that monthly users of social media platform X, formerly known as Twitter , reached a "new high" and shared a graph that showed the latest count as over 540 million. Musk's post on X about the user figures comes as the company goes through organisational changes and looks to boost advertising revenue which has dropped in the recent month. It is also the latest in a series of comments from X's executives claiming strong traction in usage, after Meta Platforms launched a direct competing platform called Threads on July 5. Twitter had 229 million monthly active users in May 2022, according to a statement made before Musk's purchase of the firm in October. Musk posted in November that X had 259.4 million daily active users. Since taking over, Musk has swiftly moved through a number of product and organizational changes. The company rolled out the verified blue tick as a paid service and has started sharing a cut of the ad sales with sele...
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EcoFlow RIVER 2 Max Power Station Review: Lifesaver During Emergencies

EcoFlow RIVER 2 Max Power Station Review: So, why should you consider getting a power station? Well, you will have reliable power backup during road trips and long power outages due to flooding or other crisis situations. Not just that, you will also have peace of mind while working remotely from hills, beaches or villages. from Top Tech News- News18.com https://ift.tt/OFu4hsE
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Chipmakers Hint at Ease of Chip Supply Glut but Demand Recovery Still Slow

From Intel to Samsung , global chipmakers are celebrating the beginning of the end of a semiconductor supply glut, but the outlook for demand from customers outside the artificial intelligence (AI) industry remains gloomy. All the major markets for chips — smartphones , PCs and data centres — have shrunk this year, as both corporate customers and consumers scale back spending amid a weak global economy, high inflation and rising interest rates. This has created an unprecedented oversupply of commodity chips, causing a record combined KRW 15.2 trillion (nearly Rs. 98,650 crore) first-half operating loss for the world's two largest memory chipmakers, Samsung and SK Hynix .  This glut, however, has started to ease largely due to production cuts and as a decline in PC shipments eased to 11 percent in the June quarter compared to a 30 percent slump in each of the previous two quarters, data from tech analysts Canalys showed. The smartphone market is also improving, with cellphon...
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iPhone 15 Pro Models May Cost Up to $200 More Than iPhone 14 Pro Variants: Report

iPhone 15 family— including the vanilla iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max — could be unveiled sometime in September. This year, the iPhone 15 Pro and Pro Max models are anticipated to be more expensive than the previous Pro models, and a new claim by a Barclays analyst corroborates this rumour. The vanilla iPhone 15 and iPhone 15 Plus will have the same price tag as the outgoing models. The iPhone 15 Pro is said to get new cameras and a faster chipset compared to the non-Pro models.  As reported by MacRumors, Barclays analyst Tim Long mentioned in an investor note that iPhone 15 Pro models will come with a higher price tag than the ongoing iPhone 14 Pro models this year. The iPhone 15 Pro will reportedly cost up to $100 (roughly Rs. 8,000) more than the iPhone 14 Pro , whereas the iPhone 15 Pro Max could see a price hike of $100 to $200 (roughly Rs. 16,000) more than the iPhone 14 Pro Max . The analyst states that the pricing would remain sim...
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Meta’s Reels Revenue Gets AI Boost to Close in on TikTok, Set to Jump to $10 Billion This Year

Reels , Meta Platforms' answer to viral short-form video app TikTok, elicited eyerolls when it launched in 2020 and was regarded as yet another example of Meta copying a popular rival. But on Wednesday, Meta revealed numbers that show Reels videos are growing rapidly among both users and advertisers and are quickly catching up to the ByteDance-owned TikTok app that is beloved by young users and has reshaped the social media landscape. Meta says the rags-to-riches growth of Reels, which are viewable on both Facebook and Instagram , speaks in part to the company's improving recommendation software, long the Chinese-owned rival's strong point. "We can show Reels that we think you're interested in based on our discovery engines," Justin Osofsky, Meta's head of online sales, operations and partnerships, said in an interview on Thursday. The number of Reels video plays on Facebook and Instagram now top 200 billion per day, up from 140 billion last fall. T...
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Parliamentary Panel Suggests Setting Up Framework to Deal With Cyber Crimes

A parliamentary panel on Thursday expressed concern over mushrooming of cyber crimes and increasing data vulnerability, and suggested that the government should come out with a framework to deal with such risks.  The Standing Committee on Finance recommended setting up of Cyber Protection Authority (CPA) and advocated that the CPA engage ethical hackers to test ecosystem participants. To enhance the prevention and detection of fraud in the banking sector, the committee headed by Jayant Sinha strongly suggested the establishment of a Central Negative Registry and that the CPA should maintain this registry. Noting that current compensatory mechanism for victims of cybercrime in the financial sector has limited scope and coverage, the panel said financial institutions must play a supportive role as there is a fiduciary relationship between financial institutions and their customers. The process of filing a compensation claim is complex and time-consuming, placing the burden of pr...
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Foxconn Subsidiary in Talks to Set Up $200 Million Components Plant in Tamil Nadu: Report

A Foxconn subsidiary is in talks with India's Tamil Nadu state to invest up to $200 million (roughly Rs. 1,638 crore) to build a new plant for electronic components in the southern region, two sources with direct knowledge told Reuters on Wednesday. Brand Cheng, CEO of Foxconn Industrial Internet (FII), and other company representatives  last week met Tamil Nadu officials including its chief minister to discuss investments in the state, the government said in a statement after the meeting, without elaborating. FII, which makes communication, mobile network and cloud computing equipment, has shared a plan with state officials to initially invest $180 million (roughly Rs. 1,475 crore) to $200 million in the facility, said one of the sources. Foxconn, the world's largest contract electronics manufacturer, and a spokesperson for Tamil Nadu's industries department declined to comment. Foxconn already has a sprawling campus near Chennai city in Tamil Nadu where it assembles...
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Tech Talk | Digital India Act, Law on Data Protection & Telecom Bill – Which One Will be Tabled in Parliament?

The IT ministry is most hopeful about the Digital Personal Data Protection Bill being introduced and passed in the monsoon session. The Centre believes that it will create a deep behavioural change in digital platforms that deal with personal data of Indian citizens from Top Tech News- News18.com https://ift.tt/ZeXQAgL
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Samsung Galaxy Watch 6, Galaxy Watch 6 Classic Price in India Announced: Details

Samsung Galaxy Watch 6 series was launched in Seoul on July 26 at the Galaxy Unpacked event. The lineup includes the Galaxy Watch 6 and the Galaxy Watch 6 Classic . The wearables are available in different colours and sizes, and can be pre-ordered on Samsung's official website, or Samsung offline stores. Both the smartwatches — the Galaxy Watch 6 and Galaxy Watch 6 Classic — can be connected with devices running Android 10 or higher. A day after the wearable's official launch, the South Korean giant has now revealed the Indian prices for the Galaxy Watch 6 series. Samsung Galaxy Watch 6, Samsung Galaxy Watch 6 Classic price, availability in India In India, the Galaxy Watch 6 comes at a starting price of Rs. 19,999 for the 40mm dial with Bluetooth/WiFi connectivity. Meanwhile the 40mm Galaxy Watch 6 with LTE connectivity costs Rs. 33,999. On the other hand, the 44m Galaxy Watch 6 with Bluetooth/WiFi support is marked at Rs. 32,999, whereas the LTE variant in 44mm will be ava...
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Samsung Galaxy Z Fold 5, Galaxy Z Flip 5 Price in India Revealed: All Details

Samsung Galaxy Z Fold 5 and Galaxy Z Flip 5 were launched on Wednesday during the Galaxy Unpacked event in Seoul, South Korea. The foldable smartphones were unveiled alongside the Galaxy Watch 6 series and the Galaxy Tab S9 series. The phones are powered by the Snapdragon 8 Gen 2 for Galaxy custom SoC that offers overclocked CPU and GPU cores. The Galaxy Z Flip 5 is backed by a 3,700mAh battery, while the book-style Galaxy Z Fold 5 packs a 4,400mAh battery. At an event held at Samsung's, Gangnam store in Seoul, South Korea, the company has now confirmed the prices and availability of the phones in India. Samsung Galaxy Z Fold 5, Samsung Galaxy Z Flip 5 price in India, availability The Galaxy Z Fold 5 comes with 12GB of RAM. Offered in Cream, Icy Blue and Phantom Black colourways, the 256GB variant is priced in India at Rs. 1,54,999, while the 512GB and 1TB variants are marked at Rs. 1,64,999 and Rs. 1,84,999 respectively. The phone is exclusively available in Icy Blue, Phantom ...
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Apple Faces $1 Billion Class Action Lawsuit by UK App Developers over App Store Fees

Apple on Tuesday found itself the target of a $1 billion (roughly Rs. 8,200 crore) class action lawsuit brought by more than 1,500 apps developers in the UK over its App Store fees. Apple's services business, which includes the App Store, has seen revenues grow at a rapid pace in the last few years and now hovers around $20 billion (roughly Rs. 1,63,400 crore) per quarter. However, the commissions of 15 percent to 30 percent that the company charges some app makers for the use of an in-app payment system have been criticised by app developers and targeted by antitrust regulators in several countries. Apple has previously said that 85 percent of developers on the App Store do not pay any commission and that it helps European developers to access markets and customers in 175 countries around the world through the App Store. The UK lawsuit at the Competition Appeal Tribunal is being brought by Sean Ennis, a professor at the Centre for Competition Policy at the University of...
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Spotify Raises Premium Plans Prices Across Several Countries

Spotify Technology on Monday raised prices for its premium plans across several countries including the United States and United Kingdom, as the music-streaming company looks to boost profitability in an uncertain economy.  The move will result in a $1 (nearly Rs. 80) price increase for Spotify's US plans, with the premium single now starting at $10.99 (nearly Rs. 900), duo at $14.99 (nearly Rs. 1,230), family at $16.99 (nearly Rs. 1,390) and the student plan at $5.99 (nearly Rs. 490).  Spotify has moved in recent months to boost margins with hundreds of layoffs and a restructuring of the podcast unit, which it had built up with billions of dollars in investment. The price increases come at a time when streaming services, both audio and video, are under rising investor pressure to boost profitability after years of prioritizing user growth.  Rivals services from Apple and Amazon.com and Tidal have all increased prices this year, while YouTube also hiked prices last...
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Google to Pay $338.7 Million in Damages Over Chromecast Patent Case, Rules US Jury

Alphabet 's Google violated a software developer's patent rights with its remote-streaming technology and must pay $338.7 million (nearly Rs. 2,770 crore) in damages, a federal jury in Waco, Texas decided on Friday. The jury found that Google's Chromecast and other devices infringe patents owned by Touchstream Technologies related to streaming videos from one screen to another, a court representative said on Monday. Google spokesperson Jose Castaneda said on Monday that the company will appeal the verdict and has "always developed technology independently and competed on the merits of our ideas." Attorneys for New York-based Touchstream did not immediately respond to a request for comment on Monday. Touchstream, which also does business as Shodogg, said in its 2021 lawsuit that founder David Strober invented technology in 2010 to "move" videos from a small device like a smartphone to a larger device like a television. According to the complaint, G...
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FTX’s Sam Bankman-Fried Denies Allegations of Witness Tampering, Accepts Gag Order

Lawyers for FTX founder Sam Bankman-Fried rejected prosecutors' claims that his discussions with a New York Times reporter amounted to witness tampering but agreed to accept a gag order, they said in a letter to the judge in the criminal fraud case. The letter, released on Sunday, came after prosecutors sought to bar Bankman-Fried and allies from making public statements that could interfere with the case. Cryptocurrency exchange FTX, once valued at $32 billion (roughly Rs. 2,62,334 crore), filed for bankruptcy protection in November as it was unable to repay depositors. Bankman-Fried has pleaded not guilty to fraud. In the letter, Bankman-Fried's attorney confirmed he had spoken with and provided personal documents to the New York Times that included documents written by a former colleague, Caroline Ellison, who has cooperated with the US government. "Bankman-Fried did not violate the protective order in this case, nor did he violate his bail conditions, nor did he ...
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Elon Musk Says He Intends to Rebrand Twitter, Blue Bird Logo to Be Replaced by an X

Twitter owner Elon Musk on Sunday signalled he would do more to take the social media company in a new direction with a rebranding that will replace its well-known blue bird logo with an X after acknowledging advertisers have been slow to return. The change, which was not evident on the website on Sunday evening, followed Musk's recent admission that advertising revenue remains nearly half of what it once was. And Twitter's cash flow has been negative as a result of that and its heavy debt load. Mike Proulx, research director at Forrester, said on Sunday that the move would further alienate Twitter's original, and once fiercely loyal, user base. "On the one hand, you can make the argument he would be getting rid of an iconic brand. On the other hand, he is signalling it is a new day for what was once Twitter and that the company is heading in a different direction with a different user base." The billionaire Musk said in a Sunday post he wanted to change Twi...
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Microsoft-Activision Blizzard Deal Approval Again in Hands of UK's CMA

Microsoft's Activision Blizzard deal is back in the hands of Britain's antitrust regulator after an appeals court granted an adjournment, and the grounds for why the UK should reconsider its block on the US software giant's takeover were published. The Competition and Markets Authority (CMA) set out on Friday Microsoft's arguments for the reconsideration, as the US battles to win UK approval to buy Call of Duty maker Activision. Having initially blocked the $69 billion (roughly Rs. 5,65,480 crore) deal in April over concerns about its impact on competition in the cloud gaming market, the CMA has since reopened the file, after it was left increasingly isolated amongst world regulators in its opposition. The CMA said it is likely to be able to reach a new provisional view on the restructured deal in the week beginning August 7. Explaining why the deal should now be given the green light, Microsoft argued that the binding commitments accepted by the European Union s...
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