Jio Financial Services is reportedly set to venture into the realm of insurance, offering an array of life, general, and health insurance products.
Mukesh Ambani, the Chairman of Reliance Industries, outlined during the annual general meeting on August 28 the strategy that Jio Financial Services will be providing streamlined digital access to uncomplicated, yet innovative, life, general, and health insurance products. He claimed that this will be achieved through strategic digital integration, with the possibility of collaborating alongside international counterparts.
A cornerstone of JFS's approach will be harnessing predictive data analytics to collaboratively devise contextually tailored insurance products with partners, aimed at catering to individual customer needs in a distinctive manner, Ambani further explained.
Notably, JFS commenced trading as an independent entity on August 21. Shareholders were allocated 1 share of JFS for every 1 share of RIL as part of the demerger process. Mukesh Ambani characterized this event as akin to a modest bonus for shareholders. In addition to the previously disclosed partnership with global powerhouse BlackRock to enter the asset management sector, JFS has now confirmed its foray into the insurance domain, with the prospect of collaborating with an international partner.
RIL has endowed JFS with a robust financial foundation, underpinning the establishment of a preeminent and reliable financial services enterprise. Reliance has infused JFS with a substantial net worth of Rs 1,20,000 crore, effectively establishing one of the world's most well-capitalized financial platforms from the outset, he expounded.
As per industry experts, the insurance sector is perceived as a lucrative avenue for Jio Financial Services. The research firm CLSA recently highlighted Jio's existing brokering operations, featuring partnerships with over 17 insurance entities. This suggests the potential for swift scalability.
Although life insurance penetration in India is leveled with the global average, non-life insurance adoption lags substantially behind. This represents an advantageous opportunity for JFS, cite the experts.
" ["meta_description"]=> string(150) "Jio Financial Services is reportedly set to venture into the realm of insurance, offering an array of life, general, and health insurance products. " ["date"]=> string(19) "2023-08-30 17:32:11" ["publish_date"]=> string(10) "08/30/2023" ["author"]=> string(13) "Pranali Mehta" ["type"]=> string(4) "news" ["image_url"]=> string(89) "img/news/jio-financial-services-dives-into-insurance-sector-with-innovative-offerings.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [1]=> object(stdClass)#27 (11) { ["id"]=> string(5) "51478" ["name"]=> string(71) "Titan Global Capital to settle US SEC charges for misleading investors " ["url"]=> string(70) "titan-global-capital-to-settle-us-sec-charges-for-misleading-investors" ["full_desc"]=> string(2941) "Titan Global Capital Management USA LLC, a fintech investment advisor, has reportedly agreed to pay over $1 million settle the U.S. Securities and Exchange Commission (SEC) charges. The allegations include deceptive practices related to investor information and custody of clients’ cryptocurrency holdings.
As part of the settlement, Titan has agreed to pay a civil penalty of $850,000, with the sum to be distributed among affected clients. The company will also reimburse ill-gotten gains totaling over $192,000, along with accrued interest, as confirmed by the SEC.
The SEC revealed that Titan, an investment advisory firm based in New York, provided inaccurate information on its website regarding potential returns spanning from August 2021 to October 2022. The regulator noted that the firm showcased crypto performance results purportedly reaching an annualized rate of 2,700%.
However, Titan failed to disclose that these figures were extrapolated from a purely hypothetical three-week timeframe devoid of any actual trading activity, according to the SEC’s official statement. While Titan did not explicitly accept or deny the SEC’s conclusions.
In addition to these findings, the SEC also identified instances where Titan presented inconsistent information to clients concerning the handling of crypto asset custody. Moreover, the firm neglected to establish protocols governing personal crypto asset trading by its employees, among other violations, cited the sources familiar with the matter.
Earlier reports from Reuters had indicated that the SEC had initiated investigations into investment advisors to ensure compliance with regulations pertaining to the custody of client cryptocurrency holdings. It was reported that SEC had been questioning advisers' efforts to adhere to the agency's rules regarding custody of clients' digital assets for several months, but the investigation had gained momentum following the upheaval of the crypto exchange FTX.
As per the law, investment advisers cannot have custody of client funds or securities unless they met specific requirements to safeguard the assets.
It is noteworthy that the representatives of fintech Titan did not offer any comments on the matter.
" ["meta_description"]=> string(181) "Titan Global Capital Management USA LLC, a fintech investment advisor, has reportedly agreed to pay over $1 million settle the U.S. Securities and Exchange Commission (SEC) charges." ["date"]=> string(19) "2023-08-22 19:22:09" ["publish_date"]=> string(10) "08/22/2023" ["author"]=> string(5) "Admin" ["type"]=> string(4) "news" ["image_url"]=> string(83) "img/news/titan-global-capital-to-settle-us-sec-charges-for-misleading-investors.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [2]=> object(stdClass)#28 (11) { ["id"]=> string(5) "51477" ["name"]=> string(67) "PayU sells GPO for $610M to focus on India's booming fintech sector" ["url"]=> string(66) "payu-sells-gpo-for-610m-to-focus-on-india-s-booming-fintech-sector" ["full_desc"]=> string(2706) "The Netherlands-based investment firm, Prosus, has reportedly announced that its fintech division, PayU, will be selling its Global Payments Organisation (GPO) business to Rapyd for $610 million in cash.
According to the Chief Executive Officer of Prosus, Bob van Dijk, PayU's GPO business has experienced remarkable growth in recently, with payment volumes increasing by over 300% in the last five years. The business has established a strong position in the global fintech sector, thanks to strategic investments in building a robust local payments platform with global reach.
For the record, GPO offers e-commerce payment solutions to merchants worldwide, operating in more than 30 countries across Latin America, Central and Eastern Europe, and Africa. Following the sale of GPO, PayU will shift its focus towards its expanding Indian payments and credit business. CEO Dijk expressed optimism about the vast fintech opportunities in India, where PayU currently leads as a payments service provider and is rapidly expanding its credit offerings.
In the financial year ending in March 2023, PayU India reported revenue of $400 million, marking a growth of 31%. The company facilitated over 1.2 billion transactions with a Gross Transaction Value (GTV) of $39 billion, showing a year-on-year growth rate of 30%. According to Prosus' statement, the GPO business contributed approximately 30% to PayU's overall revenues. During FY23, GPO's total payment volumes grew by 12% year-on-year, reaching $34 billion, which represents a remarkable threefold growth in just five years.
As for the acquiring company, Rapyd is a digital payment processing and infrastructure firm, providing services such as e-commerce payment acceptance, complex financial solutions, payouts, white-label wallets, and card issuing.
The acquisition of PayU's GPO business will allow Rapyd to expand and strengthen its presence in Central and Eastern Europe alongside Latin America. Additionally, it will provide access to payment processing infrastructure and relevant underlying licenses, according to the statement released by Rapyd.
" ["meta_description"]=> string(203) "The Netherlands-based investment firm, Prosus, has reportedly announced that its fintech division, PayU, will be selling its Global Payments Organisation (GPO) business to Rapyd for $610 million in cash." ["date"]=> string(19) "2023-08-01 20:00:48" ["publish_date"]=> string(10) "08/01/2023" ["author"]=> string(5) "Admin" ["type"]=> string(4) "news" ["image_url"]=> string(79) "img/news/payu-sells-gpo-for-610m-to-focus-on-india-s-booming-fintech-sector.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [3]=> object(stdClass)#29 (11) { ["id"]=> string(5) "51476" ["name"]=> string(65) "MyyShop - Fastest Growing Social Commerce Platform in China 2023 " ["url"]=> string(62) "myyshop-fastest-growing-social-commerce-platform-in-china-2023" ["full_desc"]=> string(2929) "According to sources, MyyShop, an innovative social commerce platform, has gained international recognition from the esteemed World Business Outlook as the "Fastest Growing Global Social Commerce Platform - China 2023."
Established in 2020, MyyShop's success can be attributed to its strong collaboration with DHgate, leveraging their global supply chain expertise to offer creators a comprehensive solution throughout their business journey.
By empowering creators, MyyShop assists them in launching unique brands and collections, streamlining the process with DHgate's efficient global supply chain. Currently, MyyShop has partnered with over 100,000 creators, primarily concentrated in developed markets such as Europe and America, attracting an impressive fan base of 10 billion for DHgate sellers. Notably, 30,000 creators have achieved stable traffic with daily orders surpassing 10,000. Projections suggest this number will increase by approximately five times in 2023.
The headquarters of World Business Outlook, a reputable print and online magazine offering comprehensive coverage and analysis, is situated in Singapore. The World Business Outlook Awards has evolved into one of the most prestigious accolades in the business world, acknowledging exceptional individuals and organizations for their performance and innovation in various industries, including banking, finance, insurance, technology, and corporate sectors. The award recognizes distinguished business professionals and leading companies worldwide. This year's esteemed winners encompass prominent global brands and organizations, among them Lirunex, Sunday Ins Co, CTBC Bank, Statrys, Swapifly Limited, Bahri Logistics, China Asset Management Co., Ltd., and many others.
In response to the accolade, Diane Wang, CEO, Chairperson, and the Founder of DHGATE Group, expressed profound gratitude to the World Business Outlook for the remarkable recognition. She attributed their success to the unwavering trust and support of their customers, shaping DHGATE Group into what it is today. Their mission remains committed to making cross-border e-commerce accessible to all, facilitating increased participation in global trade. With confidence, the company looks forward to an even brighter future, continuously innovating and expanding their business.
" ["meta_description"]=> string(219) "According to sources, MyyShop, an innovative social commerce platform, has gained international recognition from the esteemed World Business Outlook as the "Fastest Growing Global Social Commerce Platform - China 2023."" ["date"]=> string(19) "2023-07-25 22:50:38" ["publish_date"]=> string(10) "07/25/2023" ["author"]=> string(5) "Admin" ["type"]=> string(4) "news" ["image_url"]=> string(75) "img/news/myyshop-fastest-growing-social-commerce-platform-in-china-2023.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [4]=> object(stdClass)#30 (11) { ["id"]=> string(5) "51475" ["name"]=> string(70) "Foxconn withdraws from $19.5 Bn Semiconductor JV with Vedanta in India" ["url"]=> string(69) "foxconn-withdraws-from-19-5-bn-semiconductor-jv-with-vedanta-in-india" ["full_desc"]=> string(2583) "Foxconn, a Taiwanese multinational electronics contract manufacturing company, reportedly announced on Monday that it is terminating its partnership with Indian conglomerate Vedanta Ltd. in a $19.5 billion semiconductor joint venture.
Notably, the joint venture aimed to establish semiconductor manufacturing facilities in Gujarat, India. Foxconn stated that it will no longer proceed with the Vedanta JV and is working to remove its name from the deal as the entity is now fully owned by Vedanta.
Although Foxconn did not provide a specific reason for its decision, Vedanta responded by affirming its commitment to the semiconductor fabrication project. Vedanta stated that it has identified alternative potential partners to establish India's first foundry and will continue to expand its semiconductor team. Additionally, Vedanta holds a license for 40 nm production-grade technology from a leading Integrated Device Manufacturer (IDM).
For the record, Vedanta Group, led by Anil Agarwal, had earlier announced its acquisition of a 100% stake in the semiconductor and display units of Twin Star Technologies, a Volcan Investments Limited subsidiary, the ultimate holding company of Vedanta Limited.
As per the reports, the acquisition of Vedanta Foxconn Semiconductors Private Limited (VFSPL) and Vedanta Displays Limited (VDL) is pending closure. It is expected to take place during the ongoing quarter.
With this strategic restructuring, Vedanta Limited aims to diversify its portfolio by incorporating ventures in semiconductors and display glass manufacturing. It will also make the company the first Indian business in Integrated Semiconductor & Display.
Source Credit: https://www.livemint.com/companies/news/foxconn-pulls-out-of-india-chip-jv-with-vedanta-11688986364272.html
" ["meta_description"]=> string(234) "Foxconn, a Taiwanese multinational electronics contract manufacturing company, reportedly announced on Monday that it is terminating its partnership with Indian conglomerate Vedanta Ltd. in a $19.5 billion semiconductor joint venture." ["date"]=> string(19) "2023-07-11 19:35:43" ["publish_date"]=> string(10) "07/11/2023" ["author"]=> string(5) "Admin" ["type"]=> string(4) "news" ["image_url"]=> string(82) "img/news/foxconn-withdraws-from-19-5-bn-semiconductor-jv-with-vedanta-in-india.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [5]=> object(stdClass)#31 (11) { ["id"]=> string(5) "45634" ["name"]=> string(58) "YouTube unveils a new podcast homepage for some U.S. users" ["url"]=> string(57) "youtube-unveils-a-new-podcast-homepage-for-some-u-s-users" ["full_desc"]=> string(2552) "Online video sharing and social media platform, YouTube has reportedly added YouTube.com/podcasts, a dedicated podcast page for some users in the United States.
According to credible sources, the podcast page went live last month and is now linked for some users on the existing explore page alongside other top destinations like Gaming, Fashion, Sports, Learning, and others.
Earlier this year, the reports indicated that YouTube was adding a dedicated podcast homepage, hinting that the company was seriously considering its investments in podcasts and the potential ad revenue it could deliver.
Now, the tech behemoth has confirmed that the new podcast destination is live for some U.S. users, following the URL was found to be live before any formal announcement.
Upon being quizzed, YouTube stated that the URL is currently not available globally.
YouTube spokesperson, Paul Pennigton cited that the podcast destination page on YouTube assists users in exploring new and trending podcast episodes, creators and shows, along with recommending podcast content.
However, on asking about further podcast plans, YouTube refrained from divulging further details. Apparently, it hinted that a broader announcement would be made in the coming months.
Several hints related to the firm getting more serious about podcasts are being spread, especially after audio streaming and media services provider Spotify entered the same space with its support for video podcasts.
YouTube also employed Podcast Executive Kai Chuk last year to lead its effort in this ecosystem and has offered cash to famous podcasters for filming their shows.
Moreover, in March this year, a credible source leaked an 84-page presentation listing YouTube's podcast roadmap.
In the document, YouTube mentioned that it intended to test the functionality by assimilating RSS feeds. In addition, it also included a new URL, YouTube.com/podcasts, although the link was not functional at the time.
Source Credit - https://techcrunch.com/2022/08/22/youtube-launches-a-dedicated-podcasts-homepage-for-u-s-users/
" ["meta_description"]=> string(160) "Online video sharing and social media platform, YouTube has reportedly added YouTube.com/podcasts, a dedicated podcast page for some users in the United States." ["date"]=> string(19) "2022-08-23 20:09:54" ["publish_date"]=> string(10) "08/23/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(70) "img/news/youtube-unveils-a-new-podcast-homepage-for-some-u-s-users.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [6]=> object(stdClass)#32 (11) { ["id"]=> string(5) "39331" ["name"]=> string(67) "Automakers believe U.S. Senate bill will negatively affect EV sales" ["url"]=> string(66) "automakers-believe-u-s-senate-bill-will-negatively-affect-ev-sales" ["full_desc"]=> string(2688) "A group of automakers consisting of Toyota, General Motors, and Volkswagen are opposing the recently passed U.S. Senate bill of USD 430 billion, seeing it as a major roadblock in the country’s electric vehicle adoption goals for 2030.
According to John Bozzella, Chief Executive of the Alliance for Automotive Innovation, the criteria for EV tax credit will leave most vehicles ineligible for the allowance. He added that the bill would jeopardize its 2030 EV sales target of 40 to 50 percent.
Last week, the group raised suspicions associated with the challenges presented by the bill in qualifying EV models under a tax credit of USD 7,500 for U.S. buyers.
According to the Senate bill, vehicles must be made in North America in order to be approved for the tax credit. Unfortunately, this may leave the majority of the current EVs ineligible as soon as the bill takes effect.
The Senate bill puts further restrictions to discourage automakers from using Chinese materials by including the required percentages of battery components sourced from North America.
Starting next year, vehicles with batteries featuring Chinese components will not receive the credit, amidst limitations in sourcing important minerals
Senator Joe Manchin pushed for the restrictions, saying that EVs should not rely on international supply chains. On the other hand, Michigan’s Senator Debbie Stabenow has stated that the credit requirements are unworkable.
The bill creates a tax credit of USD 4,000 for used EVs. The package will offer billions of dollars for EV production and around USD 3 billion for the U.S. Postal Service to purchase electric vehicles and equipment for charging batteries.
The new EV tax credits would last until 2032 and are limited to cars priced up to USD 55,000 and vans, trucks, and SUVs priced below USD 80,000. Families within the gross income bracket of USD 300,000 would qualify for these tax credits. The U.S. House intends to vote on the bill on Friday.
Source credit:
" ["meta_description"]=> string(236) "A group of automakers consisting of Toyota, General Motors, and Volkswagen are opposing the recently passed U.S. Senate bill of USD 430 billion, seeing it as a major roadblock in the country’s electric vehicle adoption goals for 2030." ["date"]=> string(19) "2022-08-09 17:27:29" ["publish_date"]=> string(10) "08/09/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(79) "img/news/automakers-believe-u-s-senate-bill-will-negatively-affect-ev-sales.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [7]=> object(stdClass)#33 (11) { ["id"]=> string(5) "33084" ["name"]=> string(72) "Kmart, Bunnings halt use of facial recognition tech amid regulator probe" ["url"]=> string(71) "kmart-bunnings-halt-use-of-facial-recognition-tech-amid-regulator-probe" ["full_desc"]=> string(2530) "Kmart, an Australian chain of department stores owned by the Kmart Group division of Wesfarmers, and Bunnings, an Australian household hardware chain, has recently halted the use facial recognition technology in their store following an inquiry from Australia's privacy regulator OAIC (Office of the Australian Information Commissioner).
The probe comes after Consumer group Choice earlier revealed that Kmart and Bunnings were using the technology that clicks the images of people's faces via video cameras as a unique faceprint.
This faceprint is stored and used to compare with other faceprints, which according to the firms is an initiative for safeguarding the customers and staff and reducing theft in selected stores.
Presently, both firms are being investigated by the OAIC for using the technology and to discover if it complies with the privacy laws.
Mike Schneider, Managing Director of Bunnings, said that the company has confirmed to the OAIC that it had halted using the technology. He further blamed Choice for mischaracterizing the issue by notifying that the technology was used only for identifying the people who have been prohibited from entering Bunnings store.
When the customers spit, throw punches, pull weapons, or criticize the team members, the store bans such customers from entering the store.
Facial recognition helps the store to identify customers who are banned and who try to enter the store so that their team can handle the situation better.
Mr. Schneider said that regular customers do not have their images preserved in the system. Although, this technology helps to scan every customer's face against the database of banned customers.
As the firm moved to the new system, the technology was not in use for quite some time at the Bunnings Stores.
Kate Bower, Choice's consumer data advocate, greeted the decision; however, urged that the technology must be stopped permanently.
Source Credit - https://www.theguardian.com/technology/2022/jul/25/bunnings-and-kmart-halt-use-of-facial-recognition-in-stores-as-australian-privacy-watchdog-investigates
" ["meta_description"]=> string(337) "Kmart, an Australian chain of department stores owned by the Kmart Group division of Wesfarmers, and Bunnings, an Australian household hardware chain, has recently halted the use facial recognition technology in their store following an inquiry from Australia's privacy regulator OAIC (Office of the Australian Information Commissioner)." ["date"]=> string(19) "2022-07-26 12:57:40" ["publish_date"]=> string(10) "07/26/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(84) "img/news/kmart-bunnings-halt-use-of-facial-recognition-tech-amid-regulator-probe.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [8]=> object(stdClass)#34 (11) { ["id"]=> string(5) "29781" ["name"]=> string(65) "VR firm MetaX files trademark lawsuit against Zuckerberg’s Meta" ["url"]=> string(63) "vr-firm-metax-files-trademark-lawsuit-against-zuckerberg-s-meta" ["full_desc"]=> string(2977) "Meta Platforms Inc, Facebook’s parent company, has reportedly been hit by a trademark lawsuit from MetaX LLC, a leading tech firm that develops immersive VR experiences, for allegedly misappropriating its name for rebranding itself to highlight its pivot towards the metaverse last year.
The case was filed in Manhattan federal court on Tuesday, 19th July, by the New York-based MetaX, which told the court that it has been ‘crushed’ by Facebook’s rebranding efforts and its ability to market itself as ‘Meta’ has been ‘eviscerated’.
The VR company accused the social media giant of infringing its ‘Meta’ trademarks and has requested a court order that bars Meta Platforms from utilizing ‘Meta’ on goods and services that are similar to those of MetaX, and an unspecified amount of money for damages.
In October last year, Meta Platforms, formerly Facebook, Inc., rebranded itself amid allegations and scandals to shift the focus on the metaverse, a shared virtual reality space, which it believed would surpass the mobile internet.
In a statement, MetaX’s founder and CEO, Justin Bolognino, stated that Meta Platforms put the firm as well as the whole industry and the intellectual property rights of those who helped build MetaX’s business in jeopardy.
MetaX, which specializes in immersive and experiential technologies, utilizes technologies like Augmented Reality and Virtual Reality.
In the lawsuit, the company stated that it had discussed the possibility of a partnership with Facebook back in 2017, with one Facebook executive having praised the firm’s experiences at that time as ‘spectacular’ and ‘amazing’.
Meta has not yet made any comments on the matter.
MetaX further stated that Meta’s focus on the metaverse and other associated VR and AR technology coincides with the firm’s business. The California-based company has started offering similar immersive experiences at places like South by Southwest and Coachella, where MetaX also hosted some of its exhibits.
It added that Meta’s rebranding will drive MetaX out of competition in the market and that the two are being mistakenly believed to be affiliated with each other.
Source credit: https://telecom.economictimes.indiatimes.com/news/meta-hit-with-trademark-lawsuit-by-virtual-reality-company-metax/92993322
" ["meta_description"]=> string(289) "Meta Platforms Inc, Facebook’s parent company, has reportedly been hit by a trademark lawsuit from MetaX LLC, a leading tech firm that develops immersive VR experiences, for allegedly misappropriating its name for rebranding itself to highlight its pivot towards the metaverse last year." ["date"]=> string(19) "2022-07-21 18:35:46" ["publish_date"]=> string(10) "07/21/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(76) "img/news/vr-firm-metax-files-trademark-lawsuit-against-zuckerberg-s-meta.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [9]=> object(stdClass)#35 (11) { ["id"]=> string(5) "25588" ["name"]=> string(70) "German insurtech startup wefox raises $400 million in Series D funding" ["url"]=> string(69) "german-insurtech-startup-wefox-raises-400-million-in-series-d-funding" ["full_desc"]=> string(2961) "Berlin-based digital insurance firm, wefox, has reportedly closed a $400 million Series D funding round, comprising of both debt and equity. Through this, the firm has elevated its post-money valuation to more than $ 4.5 billion, which is the largest for an insurtech firm.
The round was led by Emirati state-owned holding firm, Mubadala Investment Company, and saw the participation from Target Global, Horizons, OMERS Ventures, Eurazeo, and LGT Ventures.
The valuation of the unicorn going up from $3 billion and hitting $4.5 billion within a span of 12 months shows a contradiction in the current trend being experienced in the insurtech market, and the tech sector in general.
Julian Teicke, the co-founder and CEO of wefox, stated that the new valuation is a sign that its business model, which focused on indirect distribution via agents, is working, making wefox one of the most credible insurtechs in the market.
Teicke stated that the firm has over two million customers now and is aiming to increase that to three million within this year, which further shows the trust consumers have in the firm. This proves that its focus on prediction and prevention is better than conventional repair and replace.
Teicke added that the firm is making insurance better via technology, offering a customer experience that is simple and suited to the current way of living.
wefox will be utilizing the new capital in product development and expanding its services to the rest of Europe, then to Asia and the U.S.
Fabian Wesemann, co-founder and CFO, wefox, stated that the firm is in a strong position, with the successful closure of the round reinforcing its strategy and enabling acceleration to the path of greater profits and revenues.
Wesemann added that this investment shows string validation from the investor community to wefox’s indirect model, which has helped it in being cash efficient and also signifies the firm’s continuous performance regardless of the prevailing issues.
Ibrahim Ajami, head of Mubadala Ventures, stated that instead of competing with other distribution channels, wefox empowers them, which has helped it in scaling rapidly and sustainably and offers a platform that digitizes the insurance market seamlessly.
Source credit: https://www.businesswire.com/news/home/20220711005902/en/wefox-Closes-US400m-Series-D-Round-at-US4.5bn-Post-Money-Valuation
" ["meta_description"]=> string(273) "Berlin-based digital insurance firm, wefox, has reportedly closed a $400 million Series D funding round, comprising of both debt and equity. Through this, the firm has elevated its post-money valuation to more than $ 4.5 billion, which is the largest for an insurtech firm." ["date"]=> string(19) "2022-07-13 19:41:31" ["publish_date"]=> string(10) "07/13/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(82) "img/news/german-insurtech-startup-wefox-raises-400-million-in-series-d-funding.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [10]=> object(stdClass)#36 (11) { ["id"]=> string(5) "15149" ["name"]=> string(65) "SwitchBot introduces a USD 99 fingerprint-enabled smart door lock" ["url"]=> string(65) "switchbot-introduces-a-usd-99-fingerprint-enabled-smart-door-lock" ["full_desc"]=> string(2281) "SwitchBot, one of the leading smart home retrofitting firms, has reportedly launched the latest and upgraded version of the SwitchBot Lock. It is claimed to be the easiest option to upgrade the door lock without having to replace it, allowing customers to access or lock their door using an Apple Watch or smartphone when they are at home.
The most significant improvement of SwitchBot Lock is that no upgrades to the existing lock are required to make it smart. The adaptor on the smart door lock controls the thumb-turn to lock or unlock as well as uses 3M VHB to stick to the door. It is worth noting that the users are required to reinstall the current lock while installation
Bluetooth support is available on the new SwitchBot Lock. When the users return home, they may use the SwitchBot App on their smartphone or Apple Watch to unlock it. While leaving, the door can be automatically locked.
Users can also remotely unlock or lock their doors to let a relative or friend in when they are not yet home by installing a SwitchBot Hub Mini. The latest smart door lock can also be operated using Alexa and Google. Additionally, the user will just require declaring the pre-set password to the voice assistant before opening the door to ensure maximum security.
Most deadbolt locks are reportedly compatible with the SwitchBot Lock and to increase compatibility, it also offers to give customers 3D-printed accessories.
Some of the key features of SwitchBot Lock include over six months of battery life, a capacity that equals a minimum of five years of usage, widget control on smartphones, notification when the door is locked or opened, and a data encryption level that is also found during bank security.
Source credits:
" ["meta_description"]=> string(139) "SwitchBot, one of the leading smart home retrofitting firms, has reportedly launched the latest and upgraded version of the SwitchBot Lock." ["date"]=> string(19) "2022-06-20 17:06:02" ["publish_date"]=> string(10) "06/20/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(78) "img/news/switchbot-introduces-a-usd-99-fingerprint-enabled-smart-door-lock.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [11]=> object(stdClass)#37 (11) { ["id"]=> string(5) "12372" ["name"]=> string(67) "Okapi:Orbits raises $5.7M for its space traffic management software" ["url"]=> string(66) "okapi-orbits-raises-5-7m-for-its-space-traffic-management-software" ["full_desc"]=> string(2962) "Okapi:Orbits, a German SaaS startup working towards sustainable space travel, has reportedly announced that it has raised over €5.5 million ($5.7 million) in a seed funding round to help skyrocket its space traffic management software.
Okapi:Orbits created the software to facilitate the operation of satellites, sensors, and rockets through coordination and optimization. Today, assets in space deal with frequent interferences, possible collisions, and close approaches due to the growing number of activities in space combined with dangerous levels of debris, and Okapi:Orbits, through this software, wants to better manage this chaos.
According to reports, MunichRe Ventures, the VC unit of Munich RE Group, led the round, with participation from European VCs Herius Capital as well as APEX Ventures, and the US-based Dolby Family Ventures.
Moreover, Finanzcheck founder, Andreas Kupke, as well as Christian Dahlen, a software executive at SAP, were among the experienced private investors that took part in the seed round, which also included Ingo Luge, the former Chief executive of E.ON, and the first commercial satellite constellation’s founder, Michael Oxfort.
This additional funding will be used to strengthen Okapi's global footprint in the space situational awareness industry, to help continue the development as well as improvement of the product portfolio, and expand the company's userbase.
Ingo Luge, an angel investor in Okapi:Orbits, stated that OKAPI addresses an important and underserved market. Luge added that he had faith in the Okapi:Orbits team's outstanding abilities, claiming that they are paving the way for commercial Space Traffic Management as well as accident avoidance services.
Kristina Nikolaus, co-founder, and CEO of Okapi:Orbits stated that the firm’s overall goal is to help operators boost the life span of their assets with a lower ecological footprint, helping to keep their investments secured as well as taking the best advantage of the great opportunities the thriving space market has to offer for fixing Earth's problems.
The startup, which offers its services to over 50 spacecraft in earth’s orbit and more than 150 registered consumers across Europe, the US, and Asia-Pacific, has already proved the value of its innovative product.
" ["meta_description"]=> string(237) "Okapi:Orbits, a German SaaS startup working towards sustainable space travel, has reportedly announced that it has raised over €5.5 million ($5.7 million) in a seed funding round to help skyrocket its space traffic management software." ["date"]=> string(19) "2022-06-14 19:56:29" ["publish_date"]=> string(10) "06/14/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(79) "img/news/okapi-orbits-raises-5-7m-for-its-space-traffic-management-software.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [12]=> object(stdClass)#38 (11) { ["id"]=> string(4) "8966" ["name"]=> string(69) "PBT secures $1.1Mn to increase output of low-carbon battery materials" ["url"]=> string(68) "pbt-secures-1-1mn-to-increase-output-of-low-carbon-battery-materials" ["full_desc"]=> string(2521) "The company’s patented technology filters out cobalt and nickel which are required to manufacture battery cathodes that emit 70% less CO2 than the standard method
Pure Battery Technologies (PBT), an America-based nickel and cobalt battery provider, has recently secured $1.1 million from a European Union-backed fund to grow a refinery in Germany.
According to a McKinsey study, the company has patented a technology to filter out cobalt and nickel required to manufacture battery cathodes which emit about 70% less carbon dioxide as compared to standard methods.
Bjoern Zikarsky, CEO at PBT, said the company is in talks with chemical giants including BASF BASFn.DE and Umicore UMI.BR, about integrating the technology with their manufacturing process and selling them materials to produce cathodes.
PBT's manufacturing unit in Hagen, Germany looks forward to producing 10,000 tons of precursor material by the end of year 2023, adequate to manufacture batteries for approximately 120,000 electric vehicles per year.
The EU-backed fund supporting PBT, known as EIT InnoEnergy, has invested over $650 million by now. EIT InnoEnergy holds shares in firms including lithium miner Vulcan Energy Resources VUL.AX, steel venture H2 Green Steel, and Swedish battery cell maker Northolt.
Battery makers and recyclers based in Europe are increasingly ramping up their investments in battery supply chain owing to the rising pressure from regulatory authorities to minimize the independence of suppliers based in Asia who holds a vast majority of the production.
Volkswagen and Umicore have partnered for cathode and precursor material in Europe to produce enough to provide power to approximately 2.2 million EVs by the end of 2030. In addition, BASF is planning to fabricate battery precursor material in Finland this year to deliver enough cathodes for nearly 40,000 vehicles annually.
Source Credit: https://www.nasdaq.com/articles/pure-battery-tech-wins-funding-to-expand-low-carbon-battery-material-output
" ["meta_description"]=> string(184) "Pure Battery Technologies (PBT), an America-based nickel and cobalt battery provider, has recently secured $1.1 million from a European Union-backed fund to grow a refinery in Germany." ["date"]=> string(19) "2022-06-04 09:00:01" ["publish_date"]=> string(10) "06/04/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(81) "img/news/pbt-secures-1-1mn-to-increase-output-of-low-carbon-battery-materials.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [13]=> object(stdClass)#39 (11) { ["id"]=> string(4) "8963" ["name"]=> string(68) "Mercedes-AMG’s F1-inspired One hypercar makes debuts in production" ["url"]=> string(65) "mercedes-amgs-f1-inspired-one-hypercar-makes-debuts-in-production" ["full_desc"]=> string(3016) "German automaker Mercedes-AMG has reportedly debuted the One hypercar, a luxury hypercar that draws inspiration from Formula 1 racecars. With this announcement, the Mercedes-AMG One, whose model was first unveiled in 2017, has finally made it to production five years later.
Mercedes-AMG's Formula 1 team on Twitter confirmed the launch date with a video teaser of the car, which will go up against the hybrid sports car Aston Martin Valkyrie.
Ola Källenius, CEO, Mercedes-Benz, stated that four years ago, the AMG team and the AMG High-Performance Powertrains team had proposed the idea of putting a Formula 1 engine in a road car.
Källenius joked that the company board must have been drunk because they had agreed to the idea, and added that the carmaker is now ready to launch the production car.
The hypercar’s development was delayed due to various complexities and struggles in adapting the F1 powertrain for street driving. Engineers had difficulty getting the engine to comply with the EU emissions standards, using electrically heatable catalysts and petrol particulate filters while maintaining high performance.
The car comes with a hybridized 1.6-liter V6 and four electric motors, having a total output of 782kW (that’s 1063hp), taken from AMG’s championship-winning 2017 F1 racecar.
Last year, Mercedes stated that the production of 275 prototypes units would begin in 2022, with each priced at €2.27 million ($2.43 million). At the time the company also added that all of the 275 units had already been sold.
The production model of One is largely similar to the original concept that was unveiled in 2017, with only a change to its exterior design for better performance.
Källenius also stated that the production model will demonstrate that the company’s engagement with Formula 1 has had a direct impact on the AMG brand.
Bettina Fetzer, Head of Marketing, Mercedes-Benz, stated that the company will also be posting a documentary that will detail the progress of the project.
The One features an F1-style rectangular steering wheel, with its interior being a combination of carbon fire and synthetic leather. The car can reach 62mph in 2.9 seconds, and 186mph in 15.6 seconds from a stan still. The exterior is made of a combination of carbon fire and composite plastic.
Source credit: https://www.autocar.co.uk/car-news/new-cars/new-mercedes-amg-one-hypercar-be-revealed-week
" ["meta_description"]=> string(274) "German automaker Mercedes-AMG has reportedly debuted the One hypercar, a luxury hypercar that draws inspiration from Formula 1 racecars. With this announcement, the Mercedes-AMG One, whose model was first unveiled in 2017, has finally made it to production five years later." ["date"]=> string(19) "2022-06-01 18:44:23" ["publish_date"]=> string(10) "06/01/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(78) "img/news/mercedes-amgs-f1-inspired-one-hypercar-makes-debuts-in-production.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [14]=> object(stdClass)#40 (11) { ["id"]=> string(4) "8962" ["name"]=> string(67) "WHO: Monkeypox cases reach 257 globally, risk level set to moderate" ["url"]=> string(65) "who-monkeypox-cases-reach-257-globally-risk-level-set-to-moderate" ["full_desc"]=> string(2945) "On Sunday, the World Health Organization reported over 257 confirmed and over 120 potential cases of monkeypox in 23 countries, where it suggested that the virus is not endemic.
As of Friday, the U.S. Centers for Disease Control and Prevention (CDCP) confirmed over 12 cases in eight states.
The WHO has received reports of approximately 1,365 cases and 69 deaths in five African countries, where the disease is the most common. The cases were reported in a period ranging from mid-December to late May. Meanwhile, no deaths have been reported in nonendemic nations.
The WHO reportedly stated last week that since 2017, a few deaths of people with monkeypox in West Africa have been associated with young age or an untreated HIV infection.
Adding to this, the agency also suggested that the public health risk is moderate, especially considering that this would be the first time monkeypox clusters as well as cases are reported simultaneously in widely unrelated WHO terrestrial areas, that too without established epidemiological connections to non-endemic nations in the West or Central Africa.
The public health risk from the virus is expected to become high if it spreads higher-risk individuals like children and immunosuppressed persons by exploiting the opportunity to mutate itself as a human pathogen.
The WHO has advised health care providers to closely observe possible symptoms like fever, rash, swollen lymph nodes, muscle ache, headache, fatigue, and back pain, and test anyone showing these symptoms.
Monkeypox is not a sexually transmitted disease but can spread via intimate contact during sex with someone who has an active rash. However, WHO has allegedly stated that all significant measures should be taken to avoid denouncing affected people and communities as most of the initial cases were found in men who have sex with men.
The virus is considered clinically similar to smallpox with less severe effects that progress from rash or lesions to blisters all over the body, usually lasting up to four weeks.
According to WHO, while the preliminary data suggest that the genomes belong to the clade of monkeypox that first emerged in West Africa, scientists are still sequencing the genetic code collected from viral samples of active patients to know more about the disease’s origin.
Source credit: https://edition.cnn.com/2022/05/29/health/monkeypox-outbreak-worldwide-cases/index.html
" ["meta_description"]=> string(177) "On Sunday, the World Health Organization reported over 257 confirmed and over 120 potential cases of monkeypox in 23 countries, where it suggested that the virus is not endemic." ["date"]=> string(19) "2022-05-31 16:46:13" ["publish_date"]=> string(10) "05/31/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(78) "img/news/who-monkeypox-cases-reach-257-globally-risk-level-set-to-moderate.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [15]=> object(stdClass)#41 (11) { ["id"]=> string(4) "8956" ["name"]=> string(70) "Google DeepMind close to realizing human-level artificial intelligence" ["url"]=> string(70) "google-deepmind-close-to-realizing-human-level-artificial-intelligence" ["full_desc"]=> string(2957) "The Research Director at Google’s DeepMind AI division has reportedly stated that the quest to achieve human-level artificial intelligence is about to be over after the division unveiled a new AI system, called Gato AI.
Dr. Nando de Freitas, DeepMind, stated that the race to obtain artificial general intelligence (AGI) is over. The Gato AI is capable of carrying out various complex tasks, ranging from stacking blocks to writing poetry.
Dr. de Freitas added that the new AI, described as a ‘generalist agent’, now only requires scaling up to develop an AI which can compete with human intelligence.
In response to an opinion piece that claimed AGI will never be achieved by humans, Dr. de Freitas tweeted that the game is over and it’s all about scale now.
de Freitas added that it was all about making models bigger, safer, faster at sampling, compute efficient, innovative data, more modalities, smarter memory, on/offline, and that by resolving these challenges, AGI will be a reality.
However, leading AI researchers have cautioned that the advent of AGI could possibly result in an existential catastrophe for the world and humanity.
Prof. Nick Bostrom, Oxford University, stated that having a ‘superintelligent’ system that essentially surpasses biological intelligence might lead to humans being replaced as the dominant Earth life form.
A major concern regarding the introduction of the AGI system is that it would be impossible to switch it off, given its capability to teach itself and outsmart humans.
While answering questions from various researchers on Twitter, Dr. de Freitas wrote that while developing AGI, safety is of utmost importance and is probably the biggest challenge DeepMind is facing, along with a lack of diversity.
When machine learning researcher, Alex Dimakis, asked how far the Gato AI was from passing the Turing test, Dr. de Freitas stated that it was ‘far still’.
DeepMind, which Google acquired in 2014, is also working on a ‘big red button’ to mitigate any intelligence explosion risk.
The researchers had outlined a framework in a 2016 paper, Safely Interruptible Agents, to ensure that advanced AI does not ignore shut-down commands.
Source credit: https://www.independent.co.uk/tech/ai-deepmind-artificial-general-intelligence-b2080740.html
" ["meta_description"]=> string(221) "The Research Director at Google’s DeepMind AI division has reportedly stated that the quest to achieve human-level artificial intelligence is about to be over after the division unveiled a new AI system, called Gato AI." ["date"]=> string(19) "2022-05-24 18:30:14" ["publish_date"]=> string(10) "05/24/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(83) "img/news/google-deepmind-close-to-realizing-human-level-artificial-intelligence.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [16]=> object(stdClass)#42 (11) { ["id"]=> string(4) "8954" ["name"]=> string(70) "Volkswagen & Mahindra partner to explore projects using MEB components" ["url"]=> string(68) "volkswagen-mahindra-partner-to-explore-projects-using-meb-components" ["full_desc"]=> string(2464) "Volkswagen and M&M (Mahindra & Mahindra) have recently announced that they are entering into a partnership to discover the usage of modular electric drive matrix (MEB), the electric components of Mahindra’s new platform known as “Born Electric Platform.”
Under this agreement, the binding rules for the evaluation phase will be assessed along with the non-binding scope of supply, said the companies in a joint statement.
Both firms share the same goal of captivating the Indian automotive market, one of the key automotive growth markets and a vital element in the global decarbonization of the mobility sector.
The agreement for binding supply is expected to be negotiated and finalized by the end of 2022, the automakers said.
Mahindra, with this partnership, seeks to arm its “Born Electric Platform” with battery cells, electric motor and battery system components, and the MEB electric components.
The MEB electric platform and its components will empower car manufacturers to develop their electric vehicle portfolio cost-effectively and quickly.
Thomas Schmall, CEO of VW Group Components and VW Group Board of Management member for Technology, said that this move signifies that the MEB is highly competitive in cost and technologically state of the art.
Hence it is developing progressively into the leading open platform for generating substantial volume, economies of scale, and e-mobility. This is crucial for every firm in the EV world and the key to offering viable solutions for customers.
Rajesh Jejurikar, Exec. Director, Auto, and Farm Sectors, M&M, said that the complementarity of their widespread innovation, technology, and upright incorporation in supply chains would offer a framework for developing the next-gen “Born Electric Platform” to be discovered in Oxfordshire UK soon. The UK, India, and Detroit teams are building a breathtaking future.
Source Credit - https://www.businesstoday.in/latest/corporate/story/volkswagen-mahindra-partner-to-explore-meb-electric-components-334199-2022-05-19
" ["meta_description"]=> string(260) "Volkswagen and M&M (Mahindra & Mahindra) have recently announced that they are entering into a partnership to discover the usage of modular electric drive matrix (MEB), the electric components of Mahindra’s new platform known as “Born Electric Platform.”" ["date"]=> string(19) "2022-05-21 08:00:01" ["publish_date"]=> string(10) "05/21/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(81) "img/news/volkswagen-mahindra-partner-to-explore-projects-using-meb-components.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [17]=> object(stdClass)#43 (11) { ["id"]=> string(4) "8953" ["name"]=> string(70) "Google Russia to file for bankruptcy as authorities seize bank account" ["url"]=> string(70) "google-russia-to-file-for-bankruptcy-as-authorities-seize-bank-account" ["full_desc"]=> string(2913) "The Russian subsidiary of tech giant Google is reportedly planning to file for bankruptcy after local authorities seized its bank account, which has made it impossible for the company to pay its employees and vendors.
The company had been facing pressure in Russia for months for having not deleted content that Kremlin considers illegal as well as for restricting access to some of its media on YouTube, but has not yet blocked access to Google’s services.
A spokesperson stated that the seizure of Google’s Russian bank account by authorities has made it unsustainable for its office to operate in the country, which includes employment and paying wages to local employees, vendors, and suppliers, as well as meeting other financial obligations.
Following that, Google Russia issued a notice of intention for filing for bankruptcy.
In April, a TV channel owned by a sanctioned Russian oligarch claimed that bailiffs had seized over $15 million from the Alphabet subsidiary due to its failure in restoring access to the channel’s YouTube account.
However, this is the first time that Google said its whole bank account has been seized.
The company has not confirmed whether its intention to file for bankruptcy was due to the seizure of those funds or because of any other seizures.
As per the data from Russia’s Federal Bailiffs Service, which confirmed its seizure of Google’s assets and property, two seizures have occurred since mid-March having no amounts, or any fines and enforcement fees specified.
On Wednesday 18th May, a note was posted on Fedresurs, the official Russian registry, stating that Google Russia intends to declare bankruptcy as it was experiencing difficulties in fulfilling its monetary obligations, which included mandatory on-time payments, and severance pay, as well as wages to current and former employees.
While Google’s ad sales and other commercial operations have been stopped in Russia, its free services, such as YouTube, Gmail, and Android, will remain accessible to users in the country.
Telecom firm Rostelecom CEO, Mikhail Oseevskiy, stated that Google and all its servers have been operating as normal in Russia.
Source credit: https://www.cnbc.com/2022/05/18/googles-russian-subsidiary-to-file-for-bankruptcy-after-bank-account-seized.html
" ["meta_description"]=> string(217) "The Russian subsidiary of tech giant Google is reportedly planning to file for bankruptcy after local authorities seized its bank account, which has made it impossible for the company to pay its employees and vendors." ["date"]=> string(19) "2022-05-20 18:56:41" ["publish_date"]=> string(10) "05/20/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(83) "img/news/google-russia-to-file-for-bankruptcy-as-authorities-seize-bank-account.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [18]=> object(stdClass)#44 (11) { ["id"]=> string(4) "8945" ["name"]=> string(64) "Match Group sues Google for monopolizing Android in-app payments" ["url"]=> string(64) "match-group-sues-google-for-monopolizing-android-in-app-payments" ["full_desc"]=> string(2632) "Match Group, the parent company of Tinder, OkCupid, and Match, has reportedly filed a lawsuit against Google, accusing the Silicon-Valley tech giant of exerting too much control on payments via its Google Play app marketplace.
According to the lawsuit, filed earlier in the week in California’s Northern District, Google had lured developers to its platforms by assuring that it would offer users a choice over payment of services. But after monopolizing the app distribution market for Android with Google Play, it sought to bar alternative in-app payment processing services.
By doing so, Google was able to take a cut from each in-app transaction through its own payment system.
Match Group joins a long list of app developers that have called for relief from Google and Apple extracting a 30% standard cut, or sometimes 15%, from any in-app payments people make.
After facing immense pressure due to its restrictive payment options, Google recently rolled out a pilot program that allowed apps to offer an alternative in-app payment option apart from its own system.
However, at the same time, Google also announced plans for cracking down on apps that were circumventing its billing systems, with a deadline set for 1st June.
Shar Dubey, CEO of Match, called the lawsuit a final resort ahead of the deadline, adding that while Google controls app distribution on Android devices it pretends that developers can successfully reach Android consumers elsewhere as well.
Google, however, dismissed the lawsuit, saying that it is a ‘self-interested campaign’ so Match can avoid paying its share.
A Google spokesperson stated that even if Match does not want to comply with Google Play’s policies, the dating app firm has multiple ways of distributing its apps to Android users, like other app stores, as a consumption-only app, or directly via its website.
With developers standing up against the pressure of companies like Apple and Google to pay a hefty cut from their in-app earnings, regulators and governments around the world are also taking an interest in the issue.
Last week, a Dutch regulator launched a preliminary investigation into Google for anti-competitive practices following a competition complaint in the country from Match Group against Google’s Play Store.
Source credit: https://techcrunch.com/2022/05/09/match-group-google-lawsuit-google-play/
" ["meta_description"]=> string(226) "Match Group, the parent company of Tinder, OkCupid, and Match, has reportedly filed a lawsuit against Google, accusing the Silicon-Valley tech giant of exerting too much control on payments via its Google Play app marketplace." ["date"]=> string(19) "2022-05-11 18:26:58" ["publish_date"]=> string(10) "05/11/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(77) "img/news/match-group-sues-google-for-monopolizing-android-in-app-payments.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [19]=> object(stdClass)#45 (11) { ["id"]=> string(4) "8942" ["name"]=> string(71) "Tata Motors launches Ace EV mini truck with plans to deliver 39k units " ["url"]=> string(70) "tata-motors-launches-ace-ev-mini-truck-with-plans-to-deliver-39k-units" ["full_desc"]=> string(2198) "Tata Motors, an Indian automotive manufacturer, has unveiled the electric variant of Ace, its most popular mini truck, as it continues its foray into the EV domain.
According to sources close to the launch, the automaker has inked pacts with top e-commerce giants like City-Link, Amazon, Flipkart, BigBasket, DOT, MoEVing, LetsTransport and Yelo EV for supplying the Ace EV. In fact, Tata Motors has already nabbed orders for 39,000 units. The company is also looking to build platforms in the segment of e-cargo for building solutions to serve market requirements.
Tata Group Chairman, N Chandrasekaran, while speaking at the Ace EV, said that sustainable mobility is an imperious and irreversible trend, and it is a global megatrend. Tata Motors, in particular, have embraced this fully and made a business model that deploys sustainability as one of the major pillars.
Whether it is in passenger cars, commercial vehicles, or Jaguar Land Rover, Mr. Chandrasekaran says that the automaker is committed to making this transformation and is fast-tracking it every day. It has already made significant progress in its electrification journey and has unveiled several models in the car segment and is leading this movement in passenger cars.
As per credible sources, Tata Motors has successfully unveiled electric buses in commercial vehicles, and the firm is seeing a huge acceptance and pick up in that segment.
Chandrasekaran notified that the launch marks the day when the firm shifts into e-cargo agility. Emphasizing that the Ace mini truck has been a frontrunner, a creator of a category, and an inspiration of hope for many millions and entrepreneurs across India, he said that by unveiling the Ace EV, the firm is renovating its commitment to bringing electrification benefits to all these entrepreneurs.
Source Credit - https://www.moneycontrol.com/news/opinion/making-sense-of-the-gyrations-in-the-market-8463851.html
" ["meta_description"]=> string(164) "Tata Motors, an Indian automotive manufacturer, has unveiled the electric variant of Ace, its most popular mini truck, as it continues its foray into the EV domain." ["date"]=> string(19) "2022-05-07 20:14:13" ["publish_date"]=> string(10) "05/06/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(83) "img/news/tata-motors-launches-ace-ev-mini-truck-with-plans-to-deliver-39k-units.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [20]=> object(stdClass)#46 (11) { ["id"]=> string(4) "8938" ["name"]=> string(67) "Ongoing semiconductor shortage to persist till 2024: says Intel CEO" ["url"]=> string(66) "ongoing-semiconductor-shortage-to-persist-till-2024-says-intel-ceo" ["full_desc"]=> string(3063) "The Covid-19 pandemic and associated restrictions have fractured the chip industry amidst extreme surge in demand for electronics
Pat Gelsinger, CEO of Intel – a leading semiconductor company – warned end-user industries that the ongoing semiconductor shortage would potentially continue until 2024.
According to Gelsinger, the shortage will be witnessed in 2023 and remain so in 2024, prominently highlighting the impact of challenges faced by equipment manufacturers due to lack of chip supply in sourcing tools on the delaying production timelines.
Intel has already made plans for large investments in the European and U.S. markets to establish massive semiconductor factories.
Moreover, amidst burgeoning production and rising consumer demand for electronics, the chip industry found itself heavily devastated by the emergence of Covid-19 pandemic.
As per Gelsinger, series of events including rising uncertainty of the Chinese market, continuous lockdowns in Shanghai, and now the war in Ukraine have – at an alarming rate – expressed the need for a resilient and geographically inclusive semiconductor manufacturing.
The Russia-Ukraine conflict further worsened the situation as both the countries account for a large share of crucial supply of elemental ingredients – Russia provides 44% of global palladium whereas Ukraine accounts for 70% of global neon supply - in supporting the chip manufacturing process.
Additionally, the chip shortage seems to have compromised the automobile industry as well, with zero dispatches of Hero Motor India’s electric scooters this month.
Meanwhile, Murat Aksel, Head of Procurement at Volkswagen, mentioned that the volatile situation is expected to put a strain on the company’s performance during the first half of 2022.
Proactively, India is planning to build semiconductor units called “fabs” to curb dependence on foreign import as the government continues to introduce a suit of incentives empowering companies to establish such highly equipped facilities with advanced infrastructure.
Reportedly, Indian mining company Vedanta is pursuing to raise a debt of around $2.5 billion-$3 billion in line with its large scale semiconductor and display manufacturing plans for becoming the first chipmaker of India.
Source Credit: https://www.moneycontrol.com/news/technology/intel-ceo-says-semiconductor-shortage-may-now-extend-to-2024-8437701.html
" ["meta_description"]=> string(173) "Pat Gelsinger, CEO of Intel – a leading semiconductor company – warned end-user industries that the ongoing semiconductor shortage would potentially continue until 2024." ["date"]=> string(19) "2022-05-03 14:20:13" ["publish_date"]=> string(10) "05/03/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(79) "img/news/ongoing-semiconductor-shortage-to-persist-till-2024-says-intel-ceo.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [21]=> object(stdClass)#47 (11) { ["id"]=> string(4) "8934" ["name"]=> string(51) "Google launches content delivery platform Media CDN" ["url"]=> string(51) "google-launches-content-delivery-platform-media-cdn" ["full_desc"]=> string(3070) "Tech behemoth, Google LLC, has reportedly launched Media CDN, a content delivering platform that utilizes the same infrastructure as video streaming giant YouTube, at the 2022 NAB Show Streaming Summit.
The platform will be available across 200 countries in more than 1,300 cities, with Google claiming that Media CDN has been created to automate all aspects of serving content to users.
Demand for streaming content has exploded due to the pandemic, which caused businesses to close and people to stay indoors.
As per The Global Internet Phenomena Report, video streaming made up 53.7% of total internet bandwidth traffic last year, a 4.8% increase from the previous year.
Companies that sold access to content delivery networks (CDNs) made great profits by offering servers made to speed up web content delivery.
While Media CDN is not the first CDN optimized for serving media, Google claims that it offers unique features including industry-leading offload rates and delivery protocols customized for network conditions and individual users.
Shailesh Shukla, Vice President and General Manager, Networking, Google Cloud, stated in a blog post that the company has minimized calls to origin, even for content that is accessed infrequently, by having multiple tiers of caching, thereby mitigating capacity stress in content origin at a lesser cost.
The service also has tools for ad insertion so customers can dynamically insert ads in video, and is built with AL/ML for powering interactive experiences such as purchase links embedded in virtual billboards and real-time stats in sporting events.
Shukla further wrote that Media CDN provides comprehensive automation tools and APIs, along with detailed and pr-aggregated metrics and playback tracking to simplify performance diagnosis across the whole infrastructure stack.
Google Cloud’s operations suite will be providing real-time visibility.
The launch comes after Alphabet Inc., Google’s parent company, reported that while Google Cloud grew 43% in the first quarter of 2022, its operating losses amounted to $931 million.
Eric Schmitt, Senior Research Director, Gartner, believes that Media CDN can help significantly expand Google’s dominance in web advertising and streaming video, and added that content providers can expect top-notch scalability while using the service.
Source credit: https://techcrunch.com/2022/04/26/google-launches-media-cdn-to-compete-on-content-delivery/
" ["meta_description"]=> string(202) "Tech behemoth, Google LLC, has reportedly launched Media CDN, a content delivering platform that utilizes the same infrastructure as video streaming giant YouTube, at the 2022 NAB Show Streaming Summit." ["date"]=> string(19) "2022-04-28 13:29:20" ["publish_date"]=> string(10) "04/28/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(64) "img/news/google-launches-content-delivery-platform-media-cdn.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [22]=> object(stdClass)#48 (11) { ["id"]=> string(4) "8930" ["name"]=> string(59) "Devo acquires Kognos to offer “Autonomous SOC” delivery" ["url"]=> string(53) "devo-acquires-kognos-to-offer-autonomous-soc-delivery" ["full_desc"]=> string(3212) "The acquisition aims to address excessive analyst burnout and SOC inefficiencies within the expanding threat landscape
Devo Technology, a Cambridge-based cloud-native logging and security analytics company, has announced the takeover of autonomous threat hunting pioneer Kognos which will foresee the latter’s CEO Rakesh Nair taking up the role of Vice President, Engineering at Devo.
Speaking on the acquisition, Mr. Nair stated that Kognos is focused to provide analysts an exceptionally efficient ‘second brain’ to boost both automation as well as amplification of their threat hunting capabilities to detect the most critical attacks on organizations.
Nair added that by blending into Devo, Kognos will advance its AI engine with superior-quality data and visibility, allowing customers to achieve unprecedented optimization across its security teams to further maximize their security investments.
With Devo’s industry-leading, highly scalable cloud-native logging & security analytics platform and Kognos’ advanced AI engine, the two parties will bring “autonomous SOC” to fruition.
Amidst ongoing security challenges and highly sophisticated threats, analysts need a more solidified and simplified solution for survival.
According to Devo CEO March van Zadelhoff, SOC model where analysts need to browse through thousands of alerts each day needs to be replaced with more actionable attack stories – which fragment an attack into a sequence of steps to determine the exact impact.
Kognos caters to the above-mentioned approach with its AI engine that decodes attack scenarios in real-time, anticipating the data-related queries asked by analysts beforehand.
Combining Devo with Kognos takes threat analysis to another level, moving on from alerts to supporting organizations to take decisive, and quick action to counter threats.
The current threat landscape is showcasing a high level of sophistication, adding to the struggle of security analysts with excessive analyst burnout and surging turnover rates – two factors accounting for 60% of respondents leaving or changing careers, as per the 3rd annual Devo SOC Performance Report.
Security leaders can now leverage autonomous SOC – offering automation, analytics, visibility along with open access to content and community expertise - to retain talent and address threats.
" ["meta_description"]=> string(246) "Devo Technology, a Cambridge-based cloud-native logging and security analytics company, has announced the takeover of autonomous threat hunting pioneer Kognos which will foresee the latter’s CEO Rakesh Nair taking up the role of Vice President," ["date"]=> string(19) "2022-04-23 10:10:01" ["publish_date"]=> string(10) "04/23/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(66) "img/news/devo-acquires-kognos-to-offer-autonomous-soc-delivery.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [23]=> object(stdClass)#49 (11) { ["id"]=> string(4) "8929" ["name"]=> string(70) "Zoom adds new features like virtual whiteboard and gesture recognition" ["url"]=> string(70) "zoom-adds-new-features-like-virtual-whiteboard-and-gesture-recognition" ["full_desc"]=> string(2600) "Zoom Video Communications, Inc. has announced new features and updates, which include gesture recognition, and a virtual whiteboard amongst others.
With Gesture Recognition, instead of clicking on a reaction during the call, user can raise their hand or do a thumbs up for displaying that reaction in the meeting. Currently, it only supports these two gestures and is available in client version 5.10.3 or later. While it is disabled by default at client level, it can be enabled at account, individual, or user level.
A virtual whiteboard called Zoom Whiteboard has also been added to Zoom Meetings, the desktop app, and Zoom Rooms, and will be added to Zoom Chat as well.
With the tool, users can add images, use sticky notes, and even save the whiteboard after the meeting ends. The feature is available on versions 5.10.3 and higher and can be accessed via the Whiteboard tab.
Audio delays on audio-conferencing for users in the Asia-Pacific region have been cut down , along with an overall improvement in audio quality. Data centers in the region have been updated as well, from where Call-Me outcalls will originate, and meeting invites will include new Toll-free and DID numbers when Asia is selected.
Other features include creating a central library of polls and turning on and off chat notifications. Hosts in the main session will now be able to see Breakout Room activity, such as audio/video status and screen sharing, of which users will be notified as well when entering.
Security features have been updated as well, with Zoom asking users who are detected to be logging in from a different device or country to work email account to enter a one-time password. The firm is also updating the Expo floor for Zoom events to allow 1,500 participants simultaneously and has increased the booths limit to 300.
As per the new updates, admins can now set specific chat policies with the new Chat Etiquette Tool and decided what action should be taken after detecting content triggering the policy.
Source credit: https://techcrunch.com/2022/04/20/zoom-announces-zoom-whiteboard-gesture-recognition-among-several-updates/
" ["meta_description"]=> string(147) "Zoom Video Communications, Inc. has announced new features and updates, which include gesture recognition, and a virtual whiteboard amongst others." ["date"]=> string(19) "2022-04-22 18:02:49" ["publish_date"]=> string(10) "04/22/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(83) "img/news/zoom-adds-new-features-like-virtual-whiteboard-and-gesture-recognition.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [24]=> object(stdClass)#50 (11) { ["id"]=> string(4) "8925" ["name"]=> string(70) "Google Sheets launches a new tool to detect flaws and suggest formulas" ["url"]=> string(70) "google-sheets-launches-a-new-tool-to-detect-flaws-and-suggest-formulas" ["full_desc"]=> string(2852) "Google Sheets, an online spreadsheet program offered by Google, has reportedly launched a new tool that will help users write formulas better, called Intelligent Corrections. The new tool will be able to detect flaws in the formulas written by users and suggest fixes to them.
In its official blog post, Google stated that last year it had introduced formula suggestions in the app, which recommended formulas for certain cells based on the data that the user was analyzing. Now with the new Intelligent Corrections tool, users will be able to type formulas quicker and with more confidence aided by formula corrections.
In a nutshell, the feature will offer context-aware corrections which will aid users in improving and troubleshooting various types of formulas.
From now on, whenever users will be writing a formula containing a mistake, Google Sheets will display a suggestion with an improved version of it to replace the current one. Users will also have the option of accepting or rejecting the suggestion.
Google also added examples in its blog post of formulas that can be corrected with the tool, such as missing cells in the range input of the formula, VLOOKUP errors, as well as locking ranges when the formula is applied across cells.
The Intelligent Corrections tool will be available by default for users of Google Workspace, which are the Google apps and collaboration tools, and can also be disabled in the Sheets from the program’s toolbar.
The rollout pace of the feature is expected to take 15 days, as per the company, starting from the 14th of April.
Another feature that the search engine giant recently introduced in its Google Docs, Slides, and Sheets, was the ability to join Google Meet call from the program. Now users can join and present a document, presentation, or a spreadsheet in the call to other attendees, who can also edit and work on them while on call.
https://workspaceupdates.googleblog.com/2022/04/join-google-meet-from-google-docs-sheets-slides.html
" ["meta_description"]=> string(174) "Google Sheets, an online spreadsheet program offered by Google, has reportedly launched a new tool that will help users write formulas better, called Intelligent Corrections." ["date"]=> string(19) "2022-04-18 18:21:04" ["publish_date"]=> string(10) "04/18/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(83) "img/news/google-sheets-launches-a-new-tool-to-detect-flaws-and-suggest-formulas.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [25]=> object(stdClass)#51 (11) { ["id"]=> string(4) "8921" ["name"]=> string(70) "Singapore launches new licensing framework for cybersecurity providers" ["url"]=> string(70) "singapore-launches-new-licensing-framework-for-cybersecurity-providers" ["full_desc"]=> string(3124) "The Government of Singapore has reportedly announced a new licensing framework for enterprises and individuals that provide cybersecurity service on Monday, effectively giving current vendors approximately six months to file for a license or stop offering these services.
The licensing structure intends to provide consumers with a greater guarantee of safety and security, according to a statement released by Singapore's Cybersecurity Agency (CSA) on Monday.
It also intends to raise the bar for cybersecurity companies as well as resolve the information imbalance that exists between customers and providers.
For starters, the CSA will provide licenses to two kinds of cybersecurity service providers: those who conduct penetration testing as well as the ones who provide fully managed security operations center surveillance services.
According to the CSA, the two mentioned kinds were selected as vendors providing them have extensive access to their customers' confidential information and computer systems. if the access is misused, it could lead to the client's business being interrupted indefinitely.
These services have been widely adopted and available in the market since a long time, and thus have the ability and the potential to disrupt the overall cybersecurity landscape significantly.
However, the vendors have been permitted to offer their services to customers even if they have only submitted their application with the decision regarding their license still pending, according to the CSA.
Anyone convicted of supplying any sort of licensable cybersecurity services to others without a license faces a maximum sentence of two years in prison, a penalty of S$50,000, or even both.
Each license costs around S$500 for an individual and S$1,000 for an enterprise, and has a two-year validity. For any applications submitted before April 11, 2023, a 50% exemption of the license fees will be given one time.
The license system was unveiled following a four-week consultation period that was completed in October of last year. The proposed license conditions and draught subsidiary legislation were subjected to industry feedback.
In total, 29 replies were obtained from both domestic and international industry actors, as well as trade organizations and the general public members.
A Cybersecurity Services Regulation Office (CSRO) has also been established by the agency to oversee the licensing framework and enable liaisons with the sector and the public on all licensing-related concerns.
The CSRO will administer the licensing framework and provide a response to licensee and business inquiries and feedback.
" ["meta_description"]=> string(156) "The Government of Singapore has reportedly announced a new licensing framework for enterprises and individuals that provide cybersecurity service on Monday," ["date"]=> string(19) "2022-04-12 20:41:59" ["publish_date"]=> string(10) "04/12/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(83) "img/news/singapore-launches-new-licensing-framework-for-cybersecurity-providers.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [26]=> object(stdClass)#52 (11) { ["id"]=> string(4) "8917" ["name"]=> string(60) "A new edit button feature is in the making, confirms Twitter" ["url"]=> string(59) "a-new-edit-button-feature-is-in-the-making-confirms-twitter" ["full_desc"]=> string(2741) "Microblogging social media platform, Twitter, has reportedly confirmed that it is working on a highly-anticipated edit button that would allow users to effectively edit their own tweets after they have already been posted.
This confirmation came after Twitter’s new board member, Tesla owner, Elon Musk, put out a Twitter poll asking his followers whether they want an edit button feature. Supposedly 4 million users have already voted in the poll.
Meanwhile, on Tuesday, Twitter’s social media communication team announced through a tweet that the platform is working on an edit button and would be testing it in the coming months. The tweet also clarified that the idea for the edit button did not come from Musk’s tweet and has instead been a work in progress since last year.
The platform would kick off testing within @TwitterBlue Labs in upcoming months, added the team.
Twitter Blue Labs, the platform’s subscription service, grants users early access to features it is testing. The new edit feature would allow users to edit any typos or errors in their tweets without losing any comments, retweets, or likes that they have already gained.
On Tuesday, in a twitter thread, the company’s vice president, Jay Sullivan, stated that the Twitter edit button feature had been a long-asked feature for several years. However, he added, the firm was exploring how to develop the feature in a safe manner. Clarifying that protecting the integrity of public conversation is their top priority to avoid any misuse of the feature.
Twitter co-founder, Jack Dorsey, had earlier stated that the company would probably never add a feature like this, however, Twitter’s new CEO, Parag Agrawal seems to be open about the idea.
The company had tweeted about adding an edit button on April 1, before Elon Musk joined in, in a tweet that was rather widely presumed to be an April Fool’s joke.
Even though the company claims that it had been working on the edit button feature even before Elon Musk became an official board member, it has certainly moved the process along, states North American technology reporter, James Clayton. Twitter will look into the change of policy as a consequence of this poll result, Clayton added.
Source credit: https://www.bbc.com/news/business-61003270
" ["meta_description"]=> string(222) "Microblogging social media platform, Twitter, has reportedly confirmed that it is working on a highly-anticipated edit button that would allow users to effectively edit their own tweets after they have already been posted." ["date"]=> string(19) "2022-04-07 09:59:56" ["publish_date"]=> string(10) "04/08/2022" ["author"]=> string(16) "Omkar Patwardhan" ["type"]=> string(4) "news" ["image_url"]=> string(72) "img/news/a-new-edit-button-feature-is-in-the-making-confirms-twitter.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [27]=> object(stdClass)#53 (11) { ["id"]=> string(4) "8906" ["name"]=> string(69) "Electrify America to launch ‘human-centered’ EV charging stations" ["url"]=> string(63) "electrify-america-to-launch-human-centered-ev-charging-stations" ["full_desc"]=> string(2839) "Electrify America, a subsidiary of Volkswagen, has reportedly announced plans to introduce new “human-centered” charging stations throughout New York and California equipped with solar panel awnings and lounging spaces as waiting area.
Beyond upgrading charging stations, the company will also unveil a new slimmer, redesigned EV charger for enhanced customer experience.
Evidently, the “human-centered” multi-charger stations will be set up in several cities – San Diego, Santa Barbara, Beverly Hills, San Francisco, and even within the towns and districts of Manhattan and Brooklyn – from 2022 to 2023.
Considering the complexity of EV charging which is often a time-consuming process varying based on the type of vehicle and power source unlike something as simple as filling a gas tank, Battery experts are betting on innovative solutions to bring down charging times to 10 minutes eventually.
Electrify America intends to provide comfortable and seamless charging with its new EV charging stations equipped to offer security, comfort, and amenities indicating improvements to the time taken in recharging an electric vehicle.
According to Electrify America, the company is on a mission to accelerate the shift to an electric vehicle lifestyle from the regular gas station.
The most prominent upgradation to Electrify America’s existing design is the addition of solar panel awnings, helping customers in two ways – first by sheltering customers from sun and drastic weather, and by fuelling up the station’s operations.
Currently, the company has started work to add 400-500 chargers with solar awnings for each across 100 charging stations in the country with solar canopies installed at its flagship charging stations located in Santa Clara and Baker, California.
Source Credit: https://www.theverge.com/2022/3/24/22994302/vw-volkswagen-electrify-america-ev-charging-station-design-ca-ny
" ["meta_description"]=> string(239) "Electrify America, a subsidiary of Volkswagen, has reportedly announced plans to introduce new “human-centered” charging stations throughout New York and California equipped with solar panel awnings and lounging spaces as waiting area." ["date"]=> string(19) "2022-03-26 13:00:01" ["publish_date"]=> string(10) "03/26/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(76) "img/news/electrify-america-to-launch-human-centered-ev-charging-stations.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [28]=> object(stdClass)#54 (11) { ["id"]=> string(4) "8482" ["name"]=> string(63) "Saudi Aramco boosts oil production amidst soaring global demand" ["url"]=> string(63) "saudi-aramco-boosts-oil-production-amidst-soaring-global-demand" ["full_desc"]=> string(2889) "Saudi Aramco, Saudi Arabia’s state oil and gas company, has reportedly announced that it will be increasing oil production spending in order to meet the increasing global demand, reporting a 124% increase in profit last year.
The largest oil exporter and among the most profitable companies in the world, Aramco stated that its net profit doubled from the previous year, bringing in over $110 billion in 2021 from just $49 billion in 2020.
The company credited the surge to high prices of crude oil, as demand for oil bounced back post-pandemic lockdowns, along with increased margins in the company’s refining and chemicals business.
Brent crude oil reached a 14-year high earlier this month, with a barrel costing $139, but later dropped to around $100. In contrast, the price was below $70 per barrel in early December.
Aramco expects that the global oil demand will keep on increasing and that a new significant investment will be needed to ensure supply for the same, much to the dismay of climate campaigners.
The company will increase its 2022 capital expenditure by half, to around $40-$50 billion, expecting further growth by 2025. The firm’s capital expenditure saw an 18% rise from 2020, to almost $32 billion in 2021.
Western governments have asked the United Arab Emirates and Saudi Arabia to pump out more oil so they can end their dependency on Russian imports, as gulf countries are the only oil producers that have immediate spare capacity to counteract the Russia-produced energy shortage.
Although the International Energy Agency (IEA) reports that the two countries are unwilling to tap into their reserves, both countries will be meeting with other OPEC+ members, an intergovernmental organization of oil-producing nations, to decide upon their output levels.
Earlier this month OPEC members had agreed to raising output by a mere 400,000 barrels per day, despite the Russia-Ukraine conflict.
Amin Nasser, President and CEO of Saudi Aramco, stated that the company is focusing on meeting the growing long-term demand for energy that is affordable, reliable, sustainable as well as secure, as the outlook for oil demand remains uncertain due to various geopolitical and macro-economic factors.
Source credit: https://www.theguardian.com/business/2022/mar/20/saudi-aramco-to-increase-oil-production-to-meet-global-demand
" ["meta_description"]=> string(227) "Saudi Aramco, Saudi Arabia’s state oil and gas company, has reportedly announced that it will be increasing oil production spending in order to meet the increasing global demand, reporting a 124% increase in profit last year." ["date"]=> string(19) "2022-03-22 19:10:42" ["publish_date"]=> string(10) "03/22/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(76) "img/news/saudi-aramco-boosts-oil-production-amidst-soaring-global-demand.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [29]=> object(stdClass)#55 (11) { ["id"]=> string(4) "5545" ["name"]=> string(69) "Online academic textbook firm Perlego raises $50M in Series B funding" ["url"]=> string(68) "online-academic-textbook-firm-perlego-raises-50m-in-series-b-funding" ["full_desc"]=> string(2764) "Perlego, a London-based digital e-books platform, has reportedly secured $50 million through a Series B funding round in order to expand its business after experiencing a successful growth through COVID-19.
The deal, which was led by Mediahuis Ventures, the venture capital arm of European media giant Mediahuis, also saw participation from the VC division of Raine Group (the investment banking organization supervising the acquisition of Chelsea FC) Raine Ventures, as well as Evli Growth Partners.
Angel investors, including the two co-founders of Kahoot, Johan Brand, and Jamie Brooker through their We Are Human financing also took part in the round, with ‘strategic’ publications also providing their support.
The London-based startup presently has 400,000 paying users who have unlimited access to over 850,000 books, including textbooks, novels, as well as other literature given to the students as assignments at universities and higher education institutions. Perlego claims that its catalogue makes it the world's biggest online textbook subscription business.
Perlego did not reveal which strategic partners are included in its extensive list of existing partners. Cengage, Cambridge University Press, Routledge, Harvard University Press, and Elsevier are among the 5,000 education publishers that Perlego (Latin meaning 'I read') works with.
Matthew Davis and Gauthier Van Malderen established Perlego in 2017 when they were fresh out of university and were driven to create a platform to tackle what they saw as a serious financial problem for students, i.e., the unnecessarily high cost of textbooks.
The business model is based on the notion of making book subscriptions not free, but at least significantly more inexpensive for students and institutions interested in partnering with Perlego to make its services available to their students as part of their overall package.
Users can presently sign up for a free trial for two weeks before having to pay either monthly (£12 in the UK and $18 in the US) or yearly (£8 or $12 per month). It does not, however, offer a freemium tier like Spotify since it is still figuring out how it may work.
Source credit: https://techcrunch.com/2022/03/15/perlego-raises-50m-to-build-out-its-vision-of-being-the-spotify-for-textbooks/
" ["meta_description"]=> string(206) "Perlego, a London-based digital e-books platform, has reportedly secured $50 million through a Series B funding round in order to expand its business after experiencing a successful growth through COVID-19." ["date"]=> string(19) "2022-03-16 16:45:00" ["publish_date"]=> string(10) "03/16/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(81) "img/news/online-academic-textbook-firm-perlego-raises-50m-in-series-b-funding.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [30]=> object(stdClass)#56 (11) { ["id"]=> string(4) "5052" ["name"]=> string(70) "Ukrainian Gov launches NFT to depict Russian invasion, fund war effort" ["url"]=> string(69) "ukrainian-gov-launches-nft-to-depict-russian-invasion-fund-war-effort" ["full_desc"]=> string(2970) "The government of Ukraine is reportedly launching a non-fungible token (NFT) collection that will mark the invasion of Ukraine by Russia in the form of a unique digital art. The move is one of the nation’s latest that uses digital assets to fund its war efforts.
Alex Bornyakov, Deputy Minister of Digital Transformation, stated that the collection will be like a Russia-Ukraine war museum that tells the story of the invasion in an NFT format.
Bornyakov added that each token will represent a story in art form taken from a trusted news source, adding that since the government wants the pieces to be cool and good-looking, it will therefore take time in the making.
The preparation of the collection follows the Ukrainian government’s appeal for crypto donations, which have now passed $60 million and include a CryptoPunk NFT, worth over $200,000.
Bornyakov stated that the money will be used in buying military equipment as well as in funding media activities, adding that they are not using the funding in buying weapons, but instead for buying bulletproof vests, night-vision goggles, helmets, and optics.
The minister also noted that Ukraine’s digital diplomacy proved helpful as they were able to convince many social media platforms to either block Russian state media content or label it, and have many international firms either exit Russia or change their information policy completely.
In recent days, many hackers, with some claiming to be part of the Anonymous collective, have carried out a series of denial-of-service attacks against Russian targets by deactivating state-backed websites or bombarding them with online traffic.
Bornyakov said, in relation to the cyberattacks that the Kremlin had staged against Ukraine for the past eight years, a volunteer army consisting of IT specialists has been reminding it how they made the lives of Ukrainians difficult by stealing their databases or defacing their websites.
In other news, Russia’s general prosecutor office has moved to recognize Meta as an extremist organization after it said it will allow calls for violence against the Russian President, Vladimir Putin, and Russian soldiers that are a part of Ukraine’s invasion to be able to appear on its social platforms. Russia is now moving to ban Instagram after having blocked Facebook already.
Source credit: https://www.theguardian.com/world/2022/mar/13/ukraine-nft-history-of-russian-invasion-war
" ["meta_description"]=> string(173) "The government of Ukraine is reportedly launching a non-fungible token (NFT) collection that will mark the invasion of Ukraine by Russia in the form of a unique digital art." ["date"]=> string(19) "2022-03-15 18:18:15" ["publish_date"]=> string(10) "03/15/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(82) "img/news/ukrainian-gov-launches-nft-to-depict-russian-invasion-fund-war-effort.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [31]=> object(stdClass)#57 (11) { ["id"]=> string(4) "3292" ["name"]=> string(64) "ZTE, Qualcomm to jointly work on 5G TSN solution for smart grids" ["url"]=> string(63) "zte-qualcomm-to-jointly-work-on-5g-tsn-solution-for-smart-grids" ["full_desc"]=> string(2758) "
Chinese partially state-owned technology company, ZTE Corporation and U.S. semiconductor major Qualcomm are working on a new 5G time-sensitive networking (TSN) solution for power grids.
The solution, which is planned to deploy renewable energy into power grids proficiently with 5G remote specific grid control, deploys ZTE’S new TPC (Time Promised Communication) solution with Qualcomm Technologies’ 3GPP Release 16 TSN proficient 5G R&D prototype device.
According to ZTE, such integration is key to fulfilling the latency, comprehensive coverage and density requirements of large-scale innovative grid applications while also guaranteeing the security and stability of the power grid.
Zhang Wanchun, Senior Vice President, ZTE, says that their firm is enthusiastic about offering customers top-class connectivity services. Time promised communications could be dedicated to 5G networks so that service level agreements can be assured.
ZTE has undertaken massive cooperation with Qualcomm Technologies and industry partners to achieve thorough integration of IT and OT, helping enterprises achieve flexible production, improve resource usage competence, and build a green and low carbon industrial ecosystem.
ZTE’s TPC solution integrates 5GLAN, 5G TSN, ultra-reliable low latency communication, and service level agreement control for achieving less than a reported 1μs clock synchronization with ultra-low jitter ultra-low deterministic latency of 1-20ms and ultra-high dependability of more than 99.999%.
ZTE says that the wireless TPC solution brings effective scalability for large, distributed renewable energy projects. It can replace the optical fiber in severe environments with wireless last-mile connectivity for automating power grid management and can bring additional capabilities for large power grids like precise load control.
John Smee, Senior Vice President, Engineering at Qualcomm Technologies, commented that the firm continues to work closely with vendors like ZTE to create an open 5G TSN environment for benefitting the industry.
5G, with TSN, is gaining new momentum in high-performance connectivity for numerous verticals with the support of a global ecosystem for standardization and technology.
Source Credits - https://www.smart-energy.com/industry-sectors/smart-grid/zte-qualcomm-partner-on-5g-networking-solution-for-smart-grids/
" ["meta_description"]=> string(185) "Chinese partially state-owned technology company, ZTE Corporation and U.S. semiconductor major Qualcomm are working on a new 5G time-sensitive networking (TSN) solution for power grids." ["date"]=> string(19) "2022-03-12 12:15:01" ["publish_date"]=> string(10) "03/12/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(76) "img/news/zte-qualcomm-to-jointly-work-on-5g-tsn-solution-for-smart-grids.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [32]=> object(stdClass)#58 (11) { ["id"]=> string(4) "2019" ["name"]=> string(66) "S Korea: Krafton to explore Web 3.0 and C2E, partners with Naver Z" ["url"]=> string(64) "s-korea-krafton-to-explore-web-3-0-and-c2e-partners-with-naver-z" ["full_desc"]=> string(2723) "South Korean gaming firm Krafton, creator of global hit PlayerUnknown’s Battlegrounds (PUBG), is reportedly looking into Web 3.0 with the metaverse and NFTs and has also partnered with Naver Z, the entity operating South Korea's largest metaverse platform, Zepeto.
In an interview, Krafton CEO Kim Chang-han, stated that the ideal Web 3.0 service would be an open platform where information is provided and anyone can freely join and leave, and believes that the firm should help in forming an open platform-centered ecosystem as well as support the surrounding communities.
With regards to that, the gaming giant had announced a total of ₩8 billion ($6.5 million) investment in two digital art firms, Xbyblue and Seoul Auction Blue.
As per its partnership with Naver Z, Krafton will be responsible for setting up a high-quality virtual world with the help of Unreal Engine, an advanced 3D creation tool, to help upgrade Zepe
The firm will base it on its own experience and understanding as well as from its PUBG operations where up to 100 users could interact in real-time, which will be a game-changer from metaverse services.
The CEO, however, is focusing on the firm’s development of C2E (create-to-earn) games, where players earn through content creation rather than in P2E (play-to-earn) games where players earn through content consumption.
P2E games, or money-making games, are banned in South Korea.
Kim further said that NFTs (non-fungible tokens), which cannot be sold as trading them could lead to P2E, can be used in giving creators power and accelerating their C2E.
For that, he said that blockchain can guarantee transactions and token movements to replace payment and help initiate the creator ecosystem, with Krafton also looking to invest in such technologies and combine them with games and content.
Krafton, which made a remarkable IPO debut last year on Kospi, saw a fall in its share prices from ₩580,000 ($471) per share in November to ₩282,500 ($229) last week, causing investors to become apprehensive. The company also recorded a 17.3% dip on-year in its annual operating profit and a 6.5% dip in its annual net profit.
Source credit: http://www.koreaherald.com/view.php?ud=20220306000112
" ["meta_description"]=> string(262) "South Korean gaming firm Krafton, creator of global hit PlayerUnknowns Battlegrounds (PUBG), is reportedly looking into Web 3.0 with the metaverse and NFTs and has also partnered with Naver Z, the entity operating South Koreas largest metaverse platform, Zepeto." ["date"]=> string(19) "2022-03-07 18:52:49" ["publish_date"]=> string(10) "03/07/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(77) "img/news/s-korea-krafton-to-explore-web-3-0-and-c2e-partners-with-naver-z.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [33]=> object(stdClass)#59 (11) { ["id"]=> string(4) "1148" ["name"]=> string(71) "Ukraine urges gaming organizations to block Russia's gaming servers" ["url"]=> string(66) "ukraine-urges-gaming-organizations-to-block-russias-gaming-servers" ["full_desc"]=> string(2540) "The world is eying on Russia's invasion of Ukraine, as the forces of both countries are clashing across several Ukrainian borders and cities. Although Russia is slated for a full-scale war, Ukraine is now calling upon the global tech giants to oppose its military attack.
The latest appeal has been made globally to the gaming fraternity, including Xbox, PlayStation, and other esports platforms and game development companies.
In a letter addressed to these platforms, Mykhailo Fedorov, Deputy Prime Minister of Ukraine, appealed for a complete ban on Russia. Fedorov noted that the companies are well aware of Russia's invasion of Ukraine and should do everything possible to protect Ukraine from its attacks.
He said that modern technology is the best answer to multiple rocket launchers, tanks and missiles and urged for an all-out ban on Belorussian and Russian accounts linked with the gaming platforms, including Xbox and PlayStation.
He further requested companies to ban the participation of teams from the two nations from all the international esports events for the time.
The country's deputy prime minister also requested gaming firms not to hold any international events in Russia or Belarus until Russia backtracks on its military invasion of Ukraine.
Fedorov, with these actions, hopes to encourage citizens of Russia to stop the disgraceful military aggression proactively.
The official appeal made by the Ministry of Digital Transformation of Ukraine has also been shared on Twitter by the official account of Fedorov, marking the accounts of both Xbox and PlayStation.
Furthermore, if the gaming industry decides to act as per Fedorov's appeal, it will affect a significant portion of the Russian population.
As per a report, as of March 2022, there are approximately 70 million active gamers in Russia. Hence, it is easy to note that the majority of the population indulges in online games or other platforms.
Source Credit - https://www.indiatoday.in/technology/news/story/ukraine-calls-on-game-companies-like-xbox-playstation-to-block-gaming-servers-and-events-in-russia-1920262-2022-03-03
" ["meta_description"]=> string(140) "The world is eying on Russias invasion of Ukraine, as the forces of both countries are clashing across several Ukrainian borders and cities." ["date"]=> string(19) "2022-03-05 11:05:01" ["publish_date"]=> string(10) "03/05/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(79) "img/news/ukraine-urges-gaming-organizations-to-block-russias-gaming-servers.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [34]=> object(stdClass)#60 (11) { ["id"]=> string(3) "785" ["name"]=> string(62) "Instant food delivery firm Gopuff officially expands in France" ["url"]=> string(62) "instant-food-delivery-firm-gopuff-officially-expands-in-france" ["full_desc"]=> string(2588) "Gopuff, an American consumer goods as well as food delivery company, has reportedly announced its official launch in France, making its entry in continental Europe, after successfully introducing its services in the UK.
The instant food and grocery delivery service is now available in Marseille, Toulouse, and Lille, in addition to Paris. More European nations, such as Spain, are also on the firm's strategic plan.
Gopuff stated that it is leveraging its takeover of Dija, which had soft-launched its business in France already before Gopuff acquired it, for the recent market launch. Gopuff has a lot of cash on hand, having raised $1 billion in 2021 and actively in the process of raising another $1.5 billion.
The corporation runs a chain of 20 dark stores with roughly 4,000 distinct products, much as it does in other countries. Customers can get household items, groceries, iPhone chargers, ice cream, liquor, diapers, and just about anything else.
Gopuff also aims to form partnerships with local businesses in order to tailor its offerings to the needs of local clients.
Gopuff is expected to face stiff competition in France with a number of other startups in the field, including Gorillas, Flink, Getir, Cajoo, Zapp, and others.
Yakir Gola, co-CEO and co-founder, Gopuff, stated that the reason for expanding in Europe is consumer demand. Gopuff only enters a market if it is truly ready to win.
According to Gola, Gopuff has the best technological stack, on both the consumer and rider sides, to run this type of business at scale. It also boasts a sizable crew, with 2,000 Gopuff employees around Europe, including 600 employees of Gopuff in France alone.
As a market leader, the firm has chosen a very different approach. Gola added that Gopuff has been quite engaged with local governments, given what it accomplished in the United States.
Gola further added that Gopuff is seeking to fundamentally alter the supermarket industry.
Source credit: https://techcrunch.com/2022/03/01/gopuff-officially-launches-its-instant-delivery-service-in-france/
" ["meta_description"]=> string(219) "Gopuff, an American consumer goods as well as food delivery company, has reportedly announced its official launch in France, making its entry in continental Europe, after successfully introducing its services in the UK." ["date"]=> string(19) "2022-03-03 17:46:16" ["publish_date"]=> string(10) "03/03/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(75) "img/news/instant-food-delivery-firm-gopuff-officially-expands-in-france.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [35]=> object(stdClass)#61 (11) { ["id"]=> string(3) "351" ["name"]=> string(67) "KRIBB: Next-gen genome writing tech will lead the future of biotech" ["url"]=> string(66) "kribb-next-gen-genome-writing-tech-will-lead-the-future-of-biotech" ["full_desc"]=> string(2834) "The next-gen genome writing technology in the platform bio field will play a leading role in the future era of competitive technology dominance, as per the Korea Research Institute of Bioscience and Biotechnology.
The South Korean state-run institute stated that the technology, which allows DNA designing to be rapidly combined at a mass scale, can help in overcoming technical limitations in matters of health, space, and environment, while it announced ten promising future biotechnologies for 2022.
The institute further added that the technology can aid in accelerating research on high-efficiency strains, needed to produce pharmaceuticals, energy, and materials, and will have a major role in changing the bio-industry to have a more nature-friendly design.
The KRIBB categorized the 10 biotechnologies into four parts with the help of the data analysis technology from the Korea Institute of Science and Technology Information, which are platform bio, green bio, white bio, and red bio.
The category of platform bio included live cell imaging and epigenome editing along with next-generation genome writing technologies, while the red bio category included mind-altering medicine and drug delivery with extracellular vesicles, along with next-generation vaccines technologies.
Under the category of green bio, the engineering of plant photosynthesis and chimera technology for bio organs were selected, while technologies of xenobiotics-degrading microbiome and nanomaterials' eco-friendly polymer synthesis were included under the category of white bio.
In reference to South Korea’s quick response of developing COVID-19 test kits during the early stages of the pandemic in 2020, the institute said that the country can become a biotechnology powerhouse if it would offer more support to ‘high-risk, high-return’ types of research development.
Kim Heoung-yeol, Director, National Biotech Research Center at KRIBB, stated that in order to become a ‘first-mover’ in the race for technological hegemony, acquiring innovative technologies to lead the future is more crucial than ever.
Heoung-yeol added that last year, South Korea had become the first country to have its status changed to ‘developed’ in the history of the United Nations Conference on Trade and Development.
Source credit: http://www.koreaherald.com/view.php?ud=20220228000748
" ["meta_description"]=> string(213) "The next-gen genome writing technology in the platform bio field will play a leading role in the future era of competitive technology dominance, as per the Korea Research Institute of Bioscience and Biotechnology." ["date"]=> string(19) "2022-03-01 18:10:03" ["publish_date"]=> string(10) "03/01/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(79) "img/news/kribb-next-gen-genome-writing-tech-will-lead-the-future-of-biotech.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [36]=> object(stdClass)#62 (11) { ["id"]=> string(3) "326" ["name"]=> string(66) "S Korea: Hana & KAIST partner to achieve carbon neutrality by 2050" ["url"]=> string(63) "s-korea-hana-kaist-partner-to-achieve-carbon-neutrality-by-2050" ["full_desc"]=> string(2733) "Hana Financial Group, the financial holding based in South Korea, has reportedly teamed up with the country's leading university in terms of science & technology to consolidate the scientific approach towards obtaining carbon neutrality by 2050.
Hana announced on Thursday that it had inked a collaboration agreement with the Korea Advanced Institute of Science and Technology (KAIST) to create innovative technology based on ecological, governance, and social values.
The supposed goal is based on the organizations' collaborative efforts to address climate change challenges, smooth the transition to low-carbon energy systems, and increase the use of innovative and renewable energy sources.
As part of the agreement, Hana will invest a total of ₩20 billion ($16.7 million) toeards joint research on technological and scientific convergence to achieve carbon neutrality, and building a research facility focusing on artificial photosynthesis. The research institute would be formed with the intention of making a positive contribution to society in the future.
According to Hana, artificial photosynthesis is an important aspect of the new alliance, labelling the technology a critical step toward a carbon-free world. Artificial photosynthesis turns water, sunlight, and carbon dioxide into oxygen and carbohydrates just like natural photosynthesis.
Kim Jung-tai, Hana Financial Group Chairman, stated that with carbon neutrality having emerged as a fundamental issue in society, future carbon technology commercialization has become imminent.
The agreement is the latest step in Hana's attempts to help the world become carbon-neutral and to include ESG values in management.
Korea's third-largest banking firm in terms of total assets is similarly aiming to complete all coal-related projects by 2050.
Hana further elaborated that it aims to increase customer protection and support socially aware entrepreneurs to balance out all aspects of ESG.
Through the enterprise security risk management strategy, it intends to increase the transparency of providing firm information and data while also improving risk management.
Source credit: http://www.koreaherald.com/view.php?ud=20220224000713&np=1&mp=1
" ["meta_description"]=> string(244) "Hana Financial Group, the financial holding based in South Korea, has reportedly teamed up with the countrys leading university in terms of science & technology to consolidate the scientific approach towards obtaining carbon neutrality by 2050." ["date"]=> string(19) "2022-02-25 18:44:00" ["publish_date"]=> string(10) "02/25/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(76) "img/news/s-korea-hana-kaist-partner-to-achieve-carbon-neutrality-by-2050.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [37]=> object(stdClass)#63 (11) { ["id"]=> string(3) "321" ["name"]=> string(63) "FDA warns against the use of Abbott’s powdered infant formula" ["url"]=> string(60) "fda-warns-against-the-use-of-abbotts-powdered-infant-formula" ["full_desc"]=> string(2746) "The US FDA (Food and Drug Administration) is investigating complaints registered by consumers over encountering Salmonella Newport and Cronobacter sakazakii infections.
Allegedly, these cases after consumption of powdered infant formula produced at Abbott Nutrition’s Sturgis, Michigan unit.
As a result of the current investigation which is aligned with the U.S. Centers for Disease Control and Prevention (CDC) and state and local partners, the FDA notifies consumers to avoid buying or using certain powdered infant formula product produced at this facility.
It is imperative to note that this is an ongoing investigation, and Abbott is collaborating with FDA to begin a voluntary recall of the potentially affected products.
Also, the FDA is recommending consumers not to use Alimentum, Similac or EleCare powdered infant formulas.
Currently, the FDA is investigating complaints registered about four cases in which infants became ill across three states. All four cases had undergone hospitalizations, and Cronobacter might have the cause of one death. As a result, the FDA has started an onsite examination at the facility.
Today, several positive Cronobacter sakazakii results from the environmental samples taken by the FDA and contrary inspectional annotations by FDA investigators.
As per the review of the firm’s internal records, environmental contamination with Cronobacter sakazakii was indicated, and the firm discharging the product due to the presence of Cronobacter.
Frank Yiannas, FDA Deputy Commissioner for Food Policy and Response, said that as this is a product used as the only source of nutrition for many newborns and infants, the FDA is concerned about the reports of bacterial infection.
The FDA wants to reassure the public that it is working thoroughly with partners for investigating complaints related to these products which, as recognized by them, includes formula produced at the facility. The agency ensured that it is working to resolve the safety concern quickly.
" ["meta_description"]=> string(168) "The US FDA (Food and Drug Administration) is investigating complaints registered by consumers over encountering Salmonella Newport and Cronobacter sakazakii infections." ["date"]=> string(19) "2022-02-19 10:07:01" ["publish_date"]=> string(10) "02/19/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(73) "img/news/fda-warns-against-the-use-of-abbotts-powdered-infant-formula.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [38]=> object(stdClass)#64 (11) { ["id"]=> string(3) "317" ["name"]=> string(69) "South Korean tech firms Samsung and LG among top 5 largest PCT filers" ["url"]=> string(69) "south-korean-tech-firms-samsung-and-lg-among-top-5-largest-pct-filers" ["full_desc"]=> string(2722) "The Korean Intellectual Property Office has reportedly claimed that South Korean tech corporations Samsung Electronics as well as LG Electronics were among the top five biggest patent cooperation treaty (PCT) filers globally.
A PCT is an international filing system for innovation registration that allows petitioners to obtain protection globally for their intellectual property in more than 150 nations with just a single filing. Patent filers do not have to look out for protection in each nation exclusively, according to an approach devised by the World Intellectual Property Organization, a UN establishment.
Samsung Electronics, which makes semiconductor chips, smartphones, and home appliances, was ranked as the third in 2021 with 3,041 PCT filings, down from 3,044 the year before. LG Electronics, the manufacturer of home appliances and televisions, was rated fourth with 2,885 filings.
They were followed by China’s Huawei Technologies, which topped the ranking for five consecutive years, and Qualcomm of the United States, whose annual PCT filings moved up by 80%.
PCT filings of Samsung for 2021 decreased by 1.7% from the previous year, while LG Electronics' moved up 4.6%.
Korean tech firms Samsung Electronics as well as LG Electronics, along with battery producer LG Energy Solution and battery materials maker LG Chem, are also among the top 50 PCT filers globally. LG Energy Solution's application rose from zero PCT applications in 2020 to No. 40 with 548 filings.
Six Korean educational institutions were ranked in the top 50 in the PCT rankings.
Yonsei University, Korea University, Hanyang University, Seoul National University, Catholic University, and Korea Advanced Institute of Science and Technology were among the institutions.
Korea was found fourth in the world, following China, the United States, and Japan, with 20,678 PCT applications submitted in total. For the last two years, Korea has held the top spot. Korea acquired the fifth position globally from 2010 to 2019.
Korea's PCT filings increased by 3.2% every year, the most amongst the top five nations. This also outdone the worldwide PCT filings growth rate of 0.9%.
Source credit: http://www.koreaherald.com/view.php?ud=20220214000713
" ["meta_description"]=> string(225) "The Korean Intellectual Property Office has reportedly claimed that South Korean tech corporations Samsung Electronics as well as LG Electronics were among the top five biggest patent cooperation treaty (PCT) filers globally." ["date"]=> string(19) "2022-02-15 18:00:45" ["publish_date"]=> string(10) "02/15/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(82) "img/news/south-korean-tech-firms-samsung-and-lg-among-top-5-largest-pct-filers.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [39]=> object(stdClass)#65 (11) { ["id"]=> string(3) "315" ["name"]=> string(67) "Leap Scholar to invest USD 20 million towards Middle East expansion" ["url"]=> string(67) "leap-scholar-to-invest-usd-20-million-towards-middle-east-expansion" ["full_desc"]=> string(2703) "South Asia’s largest study abroad platform Leap Scholar recently announced its expansion into the Middle East region, with plans to invest USD 20 million over the next year to build a team and serve the end-to-end needs of students and parents in the region.
The 2019-founded San Francisco-headquartered company has raised over USD 75 million in venture capital big investors including Sequoia Capital, Jungle Ventures, Owl Ventures, and Harvard Management Company among others. It boasts an expanding community of over 1 million spirants looking to study abroad.
Upon entry into the Middle East Market, Leap Scholar will provide a wide range of offerings to students, including study abroad counseling, test preparation for standardized exams like ACT, SAT, TOEFL, Duolingo, GRE, GMAT as well as visa assistance, university application, and networking opportunities. These will now be available to students from countries such as the UAE, Bahrain, Oman, Qatar, Jordan, Kuwait, Israel, and Saudi Arabia.
It is worth noting that the Middle Eastern region is seeing a significant year-on-year rise in the number of internationally mobile students. Moreover, the region is emerging as a key market from where international students come, with a scope of generating USD 11 Billion and over 300K aspirants, as per Leap Scholar’s findings.
Zuhaib Khan, VP for International Expansion, stated that selecting the right course and getting admission at the right university is a challenge for students and parents across the globe and they aim to become their point of contact throughout the journey.
He further added that venturing into a big market like the MENA region will a major role in their goal of providing equal opportunity to access international education.
As per the Co-founder Vaibhav Singh, after the Middle East, the company is looking to expand to South East Asia, South Asia, and North Africa, moving closer to its aim of democratizing access to international education for 10 million global citizens over the next 10 years.
Source credits –
" ["meta_description"]=> string(260) "South Asia’s largest study abroad platform Leap Scholar recently announced its expansion into the Middle East region, with plans to invest USD 20 million over the next year to build a team and serve the end-to-end needs of students and parents in the region." ["date"]=> string(19) "2022-02-12 10:00:02" ["publish_date"]=> string(10) "02/12/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(82) "img/news/leap-scholar-to-invest-usd-20-million-towards-middle-east-expansion-1.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [40]=> object(stdClass)#66 (11) { ["id"]=> string(3) "314" ["name"]=> string(71) "Verkkokauppa.com takes over e-ville.com’s online store for $6 million" ["url"]=> string(67) "verkkokauppa-com-takes-over-e-ville-coms-online-store-for-6-million" ["full_desc"]=> string(3023) "Finish online retailer Verkkokauppa.com Oyj, has reportedly agreed to the acquisition of e-ville.com online store, a China-based online retailer headquartered in Finland.
The transaction, expected to close around the beginning of April this year, amounts to around €5.3 million ($6 million), out of which €3.3 million will be paid in cash while the remaining amount will be issued in a directed share issue to e-ville.com as new shares.
Both parties have also agreed upon additional purchase price installments, of up to €6.7 million ($7.6 million), payable only if the combined sales of their own brand products surpass the set targets of 2022, 2023, and/or 2024.
The takeover will further strengthen and expand Verkkokauppa.com’s assortment in its brands and will also get e-ville’s experienced sourcing organization that operates in Hong Kong and Shenzhen.
E-ville, founded in 2007, is an online store that serves customers in Nordic countries, including Finland, with a maintenance and warehousing team in Mäntsälä, Finland. The company has a local purchasing organization with an effective sourcing process through which the sustainability of the sourcing channel can be controlled.
It offers a range that includes electronics, bicycles, mobile phones, home products, and leisure equipment, with employees in Thailand, Finland, and China.
Panu Porkka, Verkkokauppa.com CEO, stated that the acquisition is a first for the firm and provides an excellent fit to its growth targets and that e-ville’s consumer, wholesale, and corporate business, along with its sourcing service in the Fast East, will strengthen the growth in Verkkokauppa.com’s major areas.
Porkka added that e-ville’s corporate culture fits perfectly with the firm’s culture and in the way it works and serves its customers.
The online store of e-ville.com will continue its operations and serve its customers as it did before.
After the transaction is completed, e-ville’s business operations will be merged with Verkkokauppa.com’s from the second quarter of this year, and is expected to have a positive impact on the latter’s 2022 revenue to the tune of €5 million ($5.7 million) to €8 million ($9.1 million).
" ["meta_description"]=> string(170) "Finish online retailer Verkkokauppa.com Oyj, has reportedly agreed to the acquisition of e-ville.com online store, a China-based online retailer headquartered in Finland." ["date"]=> string(19) "2022-02-11 18:42:27" ["publish_date"]=> string(10) "02/11/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(80) "img/news/verkkokauppa-com-takes-over-e-ville-coms-online-store-for-6-million.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [41]=> object(stdClass)#67 (11) { ["id"]=> string(3) "308" ["name"]=> string(70) "Amazons newly unveiled advertising business beats YouTube’s revenues" ["url"]=> string(67) "amazons-newly-unveiled-advertising-business-beats-youtubes-revenues" ["full_desc"]=> string(2842) "Amazon has unveiled its sprawling advertising business on 3rd January, bringing to light a business that is more massive as compared to tech giant Google's YouTube. According to Amazon’s records, fourth-quarter ad revenues were USD 9.7 billion, up by 32% from last year, whereas annual revenues were USD 31 billion. In comparison, YouTube’s reported ad revenues stood at USD 28.8 billion in 2021.
Analysts have stated that Amazon's ad revenue is equivalent to the entire global newspaper industry in terms of size, and Statista has estimated global newspaper annual ad spending to be USD 29.5 billion.
The global e-commerce platform currently includes AWS as well as its cloud business. The latest addition, which is the advertisement business, is expected to be extremely profitable even though Amazon is yet to reveal those profit numbers.
Notably, Amazon serves ads on its website as well as on the wake screens of some of its tablets. It uses search queries made by customers to create targeted advertisements, which are often related to companies selling their products in the marketplace.
Sophie Lund-Yates, an equity analyst at Hargreaves Lansdown believes that Amazon's ad business is similar to Alphabet Inc. (Google), which also maintains its database on customers from its search system.
Amazon's ad revenue growth has slowed down considerably since recording 88% in the second quarter. However, the totals make it larger in terms of sales, as compared to other social media platforms like Snap and Pinterest, which also reported strong results.
Pinterest reported a revenue of USD 846.7 million and Snap posted USD 1.3 billion revenues for the fourth quarter.
An Amazon representative was quoted saying that the firm’s ability to reach out to consumers across its ad properties remains ‘largely unchanged’ even after Apple's modifications.
In this context, Apple’s latest changes to its iOS privacy policies are expected to cost Meta (formerly Facebook) around USD 10 billion in 2022. The company has accused Apple of being partial to platforms like Google as compared to app-based platforms like Facebook.
Source Credits –
" ["meta_description"]=> string(163) "Amazon has unveiled its sprawling advertising business on 3rd January, bringing to light a business that is more massive as compared to tech giant Googles YouTube." ["date"]=> string(19) "2022-02-05 10:05:01" ["publish_date"]=> string(10) "02/05/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(80) "img/news/amazons-newly-unveiled-advertising-business-beats-youtubes-revenues.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [42]=> object(stdClass)#68 (11) { ["id"]=> string(3) "306" ["name"]=> string(65) "Tesla disables a self-driving feature after discussion with NHTSA" ["url"]=> string(65) "tesla-disables-a-self-driving-feature-after-discussion-with-nhtsa" ["full_desc"]=> string(2819) "American EV giant Tesla Inc. has reportedly agreed to disable a feature of its proprietary Full Self-Driving system in its vehicles, which allowed them to slowly roll through intersections without fully stopping if there were no cars or pedestrians present.
Consequently, the carmaker will be recalling over 53,000 vehicles, which include the 2016-2022 Model S and Model X, the 2017-2022 Model 3, and the 2020-2022 Model Y, for which a letter will be sent to the owners.
Tesla released an over-the-air software fix after it went through discussions with National Highway Traffic Safety Administration (NHTSA), the US federal government agency, as per the agency’s recall notice filed online. The company had told NHTSA that no accidents regarding the ‘rolling stop’ feature issue have been reported.
The decision will be reversing a feature that was added for beta users of Tesla’s driver-assist system in October. It lets the driver choose between three modes, chill, average and assertive.
In assertive mode, the vehicle was permitted to follow other vehicles closely, change lanes more frequently, and roll through the stop signs posted at a four-way intersection.
As per the NHTSA's documents, the function allowed vehicles to drive through an all-way stop intersection with a speed of up to 5.6 mph if the system did not detect any cars, bicyclists, or pedestrians around. The function only worked in case of sufficient visibility, with the intersecting roads having 30 mph or lesser speed limits.
NHTSA said that it had met with Tesla officials on 10th and 19th of January to discuss the functionality of the feature and that on 20th January the firm voluntarily issued a recall to disable the feature.
In its filing, the agency stated that entering an all-way-stop intersection without halting might increase the risk of collision.
Tesla, however, has not yet made a comment on the matter.
The move comes in the middle of investigations being carried out by NHTSA into Tesla’s Autopilot as well as in-dash video game systems that were launched last year by U.S. regulators as the agency raised its scrutiny of the automaker.
Source credit: https://www.aljazeera.com/economy/2022/2/1/tesla-agrees-to-disable-self-driving-feature-that-runs-stop-signs
" ["meta_description"]=> string(257) "American EV giant Tesla Inc. has reportedly agreed to disable a feature of its proprietary Full Self-Driving system in its vehicles, which allowed them to slowly roll through intersections without fully stopping if there were no cars or pedestrians present." ["date"]=> string(19) "2022-02-03 18:31:13" ["publish_date"]=> string(10) "02/03/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(78) "img/news/tesla-disables-a-self-driving-feature-after-discussion-with-nhtsa.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [43]=> object(stdClass)#69 (11) { ["id"]=> string(3) "305" ["name"]=> string(63) "Sony acquires videogame developer Bungie in a $3.6 billion deal" ["url"]=> string(62) "sony-acquires-videogame-developer-bungie-in-a-3-6-billion-deal" ["full_desc"]=> string(2796) "Sony, the renowned Japanese multinational conglomerate, has reportedly announced its acquisition of Bungie, the American videogame developer, in a supposed $3.6 billion deal.
Bungie, the creator of two of the biggest gaming franchises in the world; Halo and Destiny, and Sony announced the deal on Monday, which is said to be a part of a consolidation as well as turf war that is developing as the next generation of online gaming (and metaverse) gains momentum.
The $3.6 billion deal, despite being just a small fraction of Microsoft's latest $60 billion Activision Blizzard takeover, is being considered pivotal owing to Bungie’s status as a gaming icon.
While the rival console gaming businesses prepare for the inevitable round of conflict, Sony's takeover is an obvious land grab. Destiny 2 is among the most shining examples of games-as-a-service, or the supposed live service games, which became one of the most profitable business concepts for the sector.
The GaaS strategy borrows from MMOs by selling a game and further generating revenue from it with recurring seasons of new content, aesthetic updates, as well as other products.
With Destiny 2 likely nearing the end of its life cycle, it's safe to assume that Destiny 3 is on its way, making this purchase opportune. Sony is well-positioned for next-generation gaming revenue by owning one of the largest GaaS franchises and investing in associated content.
As per sources, Pete Parsons, Bungie's CEO, stated that with this deal, Bungie begins its quest to become a worldwide multi-media entertainment corporation. The company still has control over its fate.
Parsons added that the firm will strive to self-publish and create new games in a unique way. The most obvious difference to notice with SIE's backing is an increase in recruiting employees across the business to back its ambitious objective.
Hopefully, this means being able to solve the firm's cultural issues, which were recently highlighted in an IGN investigation. The studio is allegedly working on a brand new IP along with the anticipated sequel, and perhaps their newfound freedom and resources could lead to a resuscitation of the cult classic Marathon.
Source credit: https://techcrunch.com/2022/01/31/sony-snaps-up-halo-and-destiny-creator-bungie-for-3-6b/
" ["meta_description"]=> string(174) "Sony, the renowned Japanese multinational conglomerate, has reportedly announced its acquisition of Bungie, the American videogame developer, in a supposed $3.6 billion deal." ["date"]=> string(19) "2022-02-02 18:21:51" ["publish_date"]=> string(10) "02/02/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(75) "img/news/sony-acquires-videogame-developer-bungie-in-a-3-6-billion-deal.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [44]=> object(stdClass)#70 (11) { ["id"]=> string(3) "304" ["name"]=> string(68) "Emerging chip technologies will surpass the human brain, experts say" ["url"]=> string(67) "emerging-chip-technologies-will-surpass-the-human-brain-experts-say" ["full_desc"]=> string(2823) "During keynote speeches at the 29th Korean Conference of Semiconductors, experts have reportedly stated that in the future new semiconductor technologies can advance to a degree where they will be able to imitate the human brain in terms of efficiency, computing speed, and density.
During his keynote speech, former science minister, Choi Ki-young, stated that a technological breakthrough is necessary for the field, as it is becoming more difficult to achieve energy efficiency and large processing capacity simultaneously on conventional chip designs to reach human brain scale.
Choi said that human brains, being more complex than contemporary computers, need larger memory capacity than what is currently available in the chip industry, which is why to get AI in the field the memory capacity of low-energy chips has to be increased.
As per Choi, Samsung Electronics and SK Hynix, leading memory chip makers in South Korea, are faced with a critical opportunity to beat their rivals, in AI as well as the mobile era, if they can succeed in integrating memory core with processors.
Meanwhile, another keynote speaker of the event, Kang Sung-mo, a Prof. of Electrical and Computer Engineering at the University of California, Santa Cruz, stated that existing architectures and technologies have shown that achieving the human brain scale is rather difficult with the available multilayered convolutional neural network technologies.
Prof. Sung-mo stated that in the industry’s race for achieving brain scale, a new neuromorphic computing model based on memristor could be revolutionary in the chip industry.
As memristors enable regulation of the flow of electric currents in chips in case of the overflowing inputs, the technology can unlock the potential of chip hardware to achieve basics in the neural network, similar to how in human brains neurons transmit signals to each other via synaptic terminals.
Kang, former president of KAIST, added that the industry has a lot to learn about the human brain, neurons, and synapses and that it is possible to build neurons and synapses using memristors.
According to him, brain-scale chips can be utilized in the field of sound localization, ultra-fast image processing, as well as in brain repairing of dementia patients.
Source credit: http://www.koreaherald.com/view.php?ud=20220128000509&np=1&mp=1
" ["meta_description"]=> string(252) "During keynote speeches at the 29th Korean Conference of Semiconductors, experts have reportedly stated that in the future new semiconductor technologies can advance to a degree where they will be able to imitate the human brain in terms of efficiency," ["date"]=> string(19) "2022-02-01 17:42:30" ["publish_date"]=> string(10) "02/01/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(80) "img/news/emerging-chip-technologies-will-surpass-the-human-brain-experts-say.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [45]=> object(stdClass)#71 (11) { ["id"]=> string(3) "302" ["name"]=> string(70) "Microsoft Corp. exceeds quarterly revenue prediction on cloud strength" ["url"]=> string(69) "microsoft-corp-exceeds-quarterly-revenue-prediction-on-cloud-strength" ["full_desc"]=> string(2725) "Microsoft Corporation has reportedly surpassed analyst projections for second-quarter revenue on the 25th of January, owing to high demand for its cloud-based services from businesses transitioning to hybrid work patterns as a result of the pandemic.
While revenue exceeded estimates, the company's stock has been pulled down by unfavorable market sentiment. During the after-hours trade, Microsoft shares were down around 3%.
Microsoft has become one of the world's most valuable corporations by focusing extensively on corporate software and services, particularly its cloud services and the migration of its Outlook email and calendar software, known as Office 365, to the Web.
During the pandemic, more people turned to Microsoft's workplace communication tools and services, like Teams and Office 365, to work and learn from home. As the pandemic promoted the shift towards online platforms, demand for cloud services from Microsoft, and its rivals Amazon.com Inc. and Alphabet Inc. also soared.
Notably, Microsoft's largest sector, which offers cloud services and includes Azure, its main cloud product, saw a 26% growth in revenue in the quarter, while the business that houses its Office 365 services saw a 19% increase.
The company's net income increased to USD 18.77 billion, or USD 2.48 per share, from USD 15.46 billion, or USD 2.03 per share, the previous year.
According to the firm, total revenue rose to USD 51.73 billion in the three months ended December 31st, from USD 43.08 billion a year earlier, whereas analysts had predicted a slightly lower revenue of USD 50.88 billion for the period.
Investors were also optimistic about Microsoft’s proposed USD 69 billion acquisition of video game developer, Activision Blizzard Inc., which was unveiled on January 18th and represents a significant expansion of the company's gaming segment.
It also furthers the company's efforts towards entering the metaverse, or the blending of online and offline worlds, which will have both corporate and consumer uses.
Source Credit
" ["meta_description"]=> string(250) "Microsoft Corporation has reportedly surpassed analyst projections for second-quarter revenue on the 25th of January, owing to high demand for its cloud-based services from businesses transitioning to hybrid work patterns as a result of the pandemic." ["date"]=> string(19) "2022-01-29 10:00:01" ["publish_date"]=> string(10) "01/29/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(82) "img/news/microsoft-corp-exceeds-quarterly-revenue-prediction-on-cloud-strength.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [46]=> object(stdClass)#72 (11) { ["id"]=> string(3) "301" ["name"]=> string(65) "S Korea Science Ministry to establish its own version of US DARPA" ["url"]=> string(65) "s-korea-science-ministry-to-establish-its-own-version-of-us-darpa" ["full_desc"]=> string(3084) "The government of South Korea is reportedly set to establish its own version of USA’s DARPA (Defense Advanced Research Projects Agency), this year.
According to reports, the announcement was made by the nation’s Science and ICT Minister, South Korea, Lim Hye-sook, who specified that the new agency would focus on helping expedite future-oriented research on new, innovative technologies.
After adapting the DARPA model, the new Korean agency will possess its own independent rights in terms of budget and operation to spearhead rigorous research and development of next-level technologies.
For the uninitiated, DARPA is the American agency that was behind the development of drones, the computer mouse, Internet's forerunner Arpanet, GPS, as well as voice recognition. As per the Korean government, the new body would be officially launched in the second half of this year.
The Minister also supposedly laid out four key areas of focus for the year; including the nurturement of essential strategic technology, innovation of future technologies, establishing South Korea as a digital-leading nation, as well as fostering youth talent.
By assembling research and development capabilities within critical technology domains that will ensure the country's survival, the Ministry of Science and ICT will be ensuring technical sovereignty. Lim stated that the ministry will find the solution to establish Korea as a leading nation in technological advancement in the post-COVID-19 times.
Lim further added that Korea will boost its competitiveness by establishing pan-ministerial strategic technologies like AI, batteries, semiconductors, quantum, hydrogen, and space, as per the nationwide essential strategic technology growth plan unveiled in December last year.
Due to technological improvements and the modelling process, the minister stated it is hard to predict when the nation's indigenous Nuri rocket will launch for the second time.
The ministry will work on cultivating hyper-connected enterprises of AI technology, blockchain, and 6G to enable the Korean ICT sector to lead the way into the metaverse industry.
In the meantime, Hye-sook emphasized the government's role in bridging the digital gap, saying the ministry will assist the younger generation in taking on problems and growing from them as a result of digitalization. The Korean government will supply resources such as data vouchers and the infrastructure of government research centers, which will help the youth thrive in a synergistic way.
Source credit: http://www.koreaherald.com/view.php?ud=20220127000826
" ["meta_description"]=> string(149) "The government of South Korea is reportedly set to establish its own version of USA’s DARPA (Defense Advanced Research Projects Agency), this year." ["date"]=> string(19) "2022-01-28 18:01:04" ["publish_date"]=> string(10) "01/28/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(78) "img/news/s-korea-science-ministry-to-establish-its-own-version-of-us-darpa.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [47]=> object(stdClass)#73 (11) { ["id"]=> string(3) "299" ["name"]=> string(72) "Alphabet’s Google sued for its location-tracking practices in the U.S." ["url"]=> string(67) "alphabets-google-sued-for-its-location-tracking-practices-in-the-us" ["full_desc"]=> string(2734) "Washington State, Texas, Indiana, as well as District of Columbia, have reportedly filed a lawsuit against Google alleging that the tech giant tricked customers by gathering their location data even when they thought tracking was disabled.
Attorney General Karl Racine's office, Washington, D.C., stated that Google deceived users into believing that modifying their device and account settings will enable them to protect their privacy and limit personal data the business could access.
However, Google continues to monitor the users and utilize their data, violating consumer privacy, as per the statement.
Racine's office is seeking an injunction against Google as well as a declaration that the firm must pay back profits made from user data obtained by deceiving consumers about their privacy.
Google official Jose Castaneda expressed the attorneys general are imposing false and outdated statements about their settings. They have always included privacy features and strong controls for location data in their products and will adamantly defend themselves and correct the record, HE ADDED.
Texas Attorney General Ken Paxton mentioned that the tech giant misleads consumers by continuing to track their location even when they requested that it not be done.
Google offers a 'Location History' feature, which if turned off, does not store or track the locations they visit. However, Texas took a stance that the company continues to track users' locations through additional settings and methods that it fails to disclose.
Washington Attorney General Bob Ferguson in 2020 said that Google made about USD 150 billion in advertising revenue. The firms’ advertising business relies heavily on location data and so it has a financial motive to persuade users not to deny data access, stated Ferguson’s office in the recent statement.
Last year, Arizona filed a similar complaint against Google in May alleging that the company was collecting user location data. The case is still pending, sources cited.
Source Credit-
" ["meta_description"]=> string(239) "Washington State, Texas, Indiana, as well as District of Columbia, have reportedly filed a lawsuit against Google alleging that the tech giant tricked customers by gathering their location data even when they thought tracking was disabled." ["date"]=> string(19) "2022-01-26 10:15:01" ["publish_date"]=> string(10) "01/26/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(80) "img/news/alphabets-google-sued-for-its-location-tracking-practices-in-the-us.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [48]=> object(stdClass)#74 (11) { ["id"]=> string(3) "296" ["name"]=> string(71) "Amazon’s fashion store to use algorithms that curate customer outfits" ["url"]=> string(68) "amazons-fashion-store-to-use-algorithms-that-curate-customer-outfits" ["full_desc"]=> string(2512) "Amazon is reportedly planning to open its first fashion store that will have algorithmic suggestions for clothes that each customer can try on.
In another significant push to grow its fashion business, the online retailer announced the launch of its physical apparel store this year, but with an innovative tech twist.
Simoina Vasen, Managing Director at Amazon was quoted saying that the company wouldn’t foray into physical retail unless it could bring in substantial improvements to the customer experience.
The ‘Amazon Style’ store is located in Los Angeles and spans across 30,000 sq. ft, which is slightly smaller than typical department stores. In this store, model items are kept on racks, and shoppers use Amazon‘s mobile app to scan a code and select the size and color of the products they desire.
To try on the outfits which are kept at the back of the store, customers are required to stand in a virtual queue for a fitting room that can be accessed with their smartphone when it is available.
Vasen further stated that the store will act as a magic closet, making an unending choice of apparel available to shoppers.
Notably, Amazon will keep track of the products scanned by each customer, using which its algorithms will make further clothing suggestions. Shoppers can also opt to take a style survey beforehand, and when they reach the fitting room, Amazon staff will have their selected clothes, and the algorithm’s suggestions ready for trial in the fitting rooms.
As per sources, customers will be able to pay for products using Amazon’s One biometric system that will only require them to swipe the palm of their hand to make a payment. However, the company still has room to grow and compete in the clothing retail space with the likes of Nordstrom Inc. and Macy’s Inc., which have opened smaller scale format shops throughout the country.
Source Credits –
https://newslogic.in/tech-news/amazon-to-open-fashion-store-where-algorithms-suggest-what-to-try-on/
" ["meta_description"]=> string(143) "Amazon is reportedly planning to open its first fashion store that will have algorithmic suggestions for clothes that each customer can try on." ["date"]=> string(19) "2022-01-22 14:19:59" ["publish_date"]=> string(10) "01/22/2022" ["author"]=> string(10) "Rini Dalvi" ["type"]=> string(4) "news" ["image_url"]=> string(81) "img/news/amazons-fashion-store-to-use-algorithms-that-curate-customer-outfits.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [49]=> object(stdClass)#75 (11) { ["id"]=> string(3) "292" ["name"]=> string(72) "TSMC plans $44B investment to rattle Samsung’s 2030 foundry race goals" ["url"]=> string(68) "tsmc-plans-44b-investment-to-rattle-samsungs-2030-foundry-race-goals" ["full_desc"]=> string(2861) "Samsung Electronics’ goal of leading the foundry race by 2030 is supposedly facing a significant hurdle as competitor TSMC is reportedly preparing a $44 billion investment for this year remain at the forefront, as per reliable industry sources.
Eugene Investment Securities analyst, Lee Seung-woo, stated that last year Samsung Electronics invested approximately $33.5 billion (₩40 trillion) towards infrastructure, memory, and foundry related spending.
Meanwhile, this year, TSMC intends to invest a whopping ₩50 trillion solely towards the development of its foundry business.
Seung-woo added that as the foundry business needs a significant amount of investment, it would be extremely difficult for Samsung to even catch up with its rival under the existing business structure.
Speculations have it, Samsung’s mission to gain a competitive lead and catch up to TSMC may witness critical challenges since 2022 is expected to bring the Taiwanese company, dominant in terms of chip investments, ahead of the South Korean tech giant for the first time.
Apparently, TSMC plans on investing around ₩52.2 trillion in chips this year, exceeding Samsung’s estimated spending of ₩45 trillion.
The company’s plans go far beyond the South Korean giant’s recent semiconductor chip investments, which stand at ₩32.9 trillion for 2020 and ₩40 trillion for 2021; both far exceeding TSMC’s investments of ₩18.4 trillion and ₩35.6 trillion respectively for the same period.
With the forthcoming chip investments, TSMC aims to advance the company’s staggering performance in 2021, which displayed revenue growth of 24.9% reaching $56.8 billion.
In 2021, TSMC’s operating profits soared beyond 40.9% to more than $23.2 billion, which is equivalent to approximately 90% of Samsung’s operating profit of $25.6 billion within the chip business.
With TSMC initiating twice the amount of investments, the gap with Samsung will continue to grow, simply reversing their competitive lead.
It has been reported that, TSMC was responsible for leading 53.1% of the global foundry market during last year’s third quarter, pushing Samsung, governing 17.1% of the industry at the time, to No.2 position.
Source credit: http://www.koreaherald.com/view.php?ud=20220117000639
" ["meta_description"]=> string(242) "Samsung Electronics goal of leading the foundry race by 2030 is supposedly facing a significant hurdle as competitor TSMC is reportedly preparing a 44 billion investment for this year remain at the forefront, as per reliable industry sources." ["date"]=> string(19) "2022-01-18 19:42:14" ["publish_date"]=> string(10) "01/18/2022" ["author"]=> string(10) "Rini Dalvi" ["type"]=> string(4) "news" ["image_url"]=> string(81) "img/news/tsmc-plans-44b-investment-to-rattle-samsungs-2030-foundry-race-goals.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [50]=> object(stdClass)#76 (11) { ["id"]=> string(3) "291" ["name"]=> string(68) "South Korea signs $3Bn export deal with UAE for Cheongung-II missile" ["url"]=> string(67) "south-korea-signs-3bn-export-deal-with-uae-for-cheongung-ii-missile" ["full_desc"]=> string(3055) "The government of South Korea has reportedly announced that it has inked a new deal with the United Arab Emirates (UAE) to export the nation’s proprietary mid-range surface-to-air Cheongung-II missile system, worth &₩4 trillion ($3.36 billion).
According to reports, the deal marks the first sale of the country’s home-developed multi-layered anti-missile technology to a foreign country.
South Korean aerospace and defense firms LIG Nex1 and Hanwha Systems, along with leading defense corporation Hanwha Defense, exchanged contracts with UAE’s defense and security acquisitions authority, Tawazun Economic Council, in the presence of South Korean President Moon Jae-in and UAE PM and VP Sheikh Mohammed bin Rashid Al Maktoum.
President Moon had met the PM Al Maktoum while on his eight-day trip to the UAE, Egypt, and Saudi Arabia.
The deal was finalized two months after that UAE’s Ministry of Defense tweeted its plans to procure the Cheongung-II missile system.
Kang Eun-ho, Minister of Defense Acquisition and Chief of Defense Acquisition Program Administration (DAPA), told reporters that this deal will become the most beneficial contract regarding weapons export for the country’s defense industry.
Previously, the single largest export deal in the defense industry had been for submarines that were sold to Indonesia, valued at around & ₩1 trillion ($839 million).
The Cheongung-II battery was contract manufactured by the three companies and developed by the Agency for Defense Development.
Kang stated that Cheongung-II, an upgraded version of Cheongung, can intercept both ballistic missiles and aircraft.
The deal has elevated expectations of Korean defense firms making more deals with the defense authorities of other countries.
Kang has also confirmed that the government is currently negotiating with other countries for the export of Cheongung-II as well.
Meanwhile, UAE’s defense ministry and DAPA also signed an MOU regarding mid-term and long-term bilateral cooperation on defense technology.
Park Kyung-mee, South Korea’s presidential spokeswoman, stated that President Moon stressed upon the missile system deal and the defense MOU for reciprocal defense cooperation, as it will result in joint research, development, manufacturing in the UAE, leading to joint export to various countries.
Source credit: https://www.koreatimes.co.kr/www/nation/2022/01/120_322373.html
" ["meta_description"]=> string(113) "The government of South Korea has reportedly announced that it has inked a new deal with the United Arab Emirates" ["date"]=> string(19) "2022-01-17 19:00:05" ["publish_date"]=> string(10) "01/17/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(80) "img/news/south-korea-signs-3bn-export-deal-with-uae-for-cheongung-ii-missile.png" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [51]=> object(stdClass)#77 (11) { ["id"]=> string(3) "290" ["name"]=> string(66) "Apple to allow other payment systems in iOS for South Korean users" ["url"]=> string(66) "apple-to-allow-other-payment-systems-in-ios-for-south-korean-users" ["full_desc"]=> string(2416) "Multinational corporation Apple Inc. reportedly said it will allow third-party payment systems in iOS apps to comply with South Korean law, which addresses monopolies by tech giants such as Google and Apple.
The iPhone maker currently takes a 30% fee on any digital sale on iOS apps, which has become a point of controversy worldwide and a focus of the US lawsuit between Epic Games and Apple. The lawsuit resulted in an order from a judge to allow third-party payment options in the App Store. However, the order was put on hold owing to an appeal.
South Korean legislators have supported developer complaints regarding in-app payments, resulting in new laws. Apple says it will charge developers a lower fee for using third-party payment choices, but several developers argue that charging any money at all is unjust. However, Apple and Google state that fees are required to sustain and market their app platforms.
Apple has not stated how much it will charge developers to incorporate third-party payments in South Korea, when this option will be available, or how consumers will use these new payments. The implementation's details will be crucial, as seemingly minor considerations like app store UI can be leveraged to sway customers one way or the other.
Apple has a long history of working with Korea's app developers and has high regard for the country's regulations, said the company in a press statement.
The firm said its efforts will always be guided by keeping the App Store a secure and trustworthy location for users to download the apps they love. The tech giants said it is excited to collaborate with the KCC (Korea Communications Commission) and their developer community on a solution to help Korean users.
Apple has followed in the footsteps of Google, with the latter announcing similar alternative payments structure last November.
Source Credit-
https://www.theverge.com/2022/1/11/22877952/apple-third-party-payments-app-store-south-korea
" ["meta_description"]=> string(207) "Multinational corporation Apple Inc. reportedly said it will allow third-party payment systems in iOS apps to comply with South Korean law, which addresses monopolies by tech giants such as Google and Apple." ["date"]=> string(19) "2022-01-14 10:00:01" ["publish_date"]=> string(10) "01/14/2022" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(79) "img/news/apple-to-allow-other-payment-systems-in-ios-for-south-korean-users.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [52]=> object(stdClass)#78 (11) { ["id"]=> string(3) "285" ["name"]=> string(71) "Volvo to debut self-driving tech in upcoming electric SUV in California" ["url"]=> string(71) "volvo-to-debut-self-driving-tech-in-upcoming-electric-suv-in-california" ["full_desc"]=> string(2545) "Volvo Cars along with self-driving sensor maker Luminar Technologies have announced the launch of a hands-free driving system named Ride Pilot in California, although the precise date of deployment is yet to be revealed.
Volvo intends to use Luminar’s technology across all its EV SUVs that will be introduced later this year. The move should allow the car to take over driving tasks in select and constrained conditions.
Volvo is also looking forward to making the self-driving option available to consumers on a subscription basis once the vehicles have already been on the road.
The cars are likely to go on sale in 2023, said Alexander Petrofski, Volvo's Vice President of Strategy and Business Ownership, during a press conference at the Consumer Electronics Show. However, the potential self-driving technology will not be made available until it has gone through a severe verification and testing protocol.
The apparent plan is to start testing Ride Pilot on pre-production vehicles in California later this year, although subject to regulatory approval. Volvo expects that by next year, vehicles will include driver-safety features that will support data collection which will be needed to certify the Ride Pilot technology before the launch.
Petrofski expects that part of their sales to be directed to California to obtain the car density needed to collect data. However, Volvo has not yet revealed the cost of the Ride Pilot upgrade subscription.
Even the software sales are likely to account for a significant amount of Volvo’s revenue in the coming years, Petrofski added.
For those unaware, Luminar will offer a LiDAR sensor, a critical system component, that will allow the automobile to create a three-dimensional map of the road. However, the vehicle will also depend on a network of five radar sensors, sixteen ultrasonic sensors, and eight cameras, conjoined by the Zensact software.
Source Credit-
" ["meta_description"]=> string(220) "Volvo Cars along with self-driving sensor maker Luminar Technologies have announced the launch of a hands-free driving system named Ride Pilot in California, although the precise date of deployment is yet to be revealed." ["date"]=> string(19) "2022-01-08 10:00:01" ["publish_date"]=> string(10) "01/08/2022" ["author"]=> string(10) "Rini Dalvi" ["type"]=> string(4) "news" ["image_url"]=> string(84) "img/news/volvo-to-debut-self-driving-tech-in-upcoming-electric-suv-in-california.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [53]=> object(stdClass)#79 (11) { ["id"]=> string(3) "281" ["name"]=> string(68) "CES 2022: LG Electronics to launch self-driving infotainment vehicle" ["url"]=> string(67) "ces-2022-lg-electronics-to-launch-self-driving-infotainment-vehicle" ["full_desc"]=> string(2598) "LG Electronics, the South Korean multinational electronics giant based, has reportedly unveiled its latest in-vehicle infotainment (IVI) concept, specifically curated for autonomous vehicles at CES (Consumer Electronics Show) 2022.
According to report, the new concept demonstrates how car cabins can be transformed into spaces where passengers can work, watch TV, workout, or recreate camping experiences.
LG Electronics stated that the innovative mobility innovation concept, named LG Omnipod, is in-essence an on-road expansion of one's very own personal living space. It is designed to fit as a home office, entertainment center, or sitting room. LG has supposedly developed the concept on its own, without entering a relationship with any carmaker.
The design also demonstrates how the LG ThinQ app, a smart home solutions provider, can access the in-car infotainment system by mobile or voice command. According to LG Electronics, this interoperability blurs the line between house and car.
William Cho, LG Electronics’ CEO stated that by adding automobiles to the LG ThinQ ecosystem, the electronics company will keep offering new customer experiences and reduce boundaries between places so that users can effortlessly extend the comfort of their homes to their cars.
The in-vehicle approach has emerged a year after LG Electronics and Hyundai Motor Group unveiled the Ioniq Concept Cabin, which was designed to be fitted on Hyundai's Ioniq 5 electric automobiles.
The LG- Hyundai Ioniq Concept Cabin was designed to improve the in-vehicle customer experience. To keep the cabin clean, it had home devices with 77-inch flexible organic LED screens as well as interior care systems including shoe butlers, cleaning robots, and ultraviolet lights.
LG Omnipod is just one of the mobility technologies that will be showcased digitally during LG's World Premiere at CES 2022, alongside AI-powered CLOi robots that can conduct tours, serve food in restaurants, and deliver packages.
The three-clip presentation will be made Tuesday at 8 a.m. local time at CES, Las Vegas.
Source credit: http://www.koreaherald.com/view.php?ud=20220103000636
" ["meta_description"]=> string(144) "LG Electronics, the South Korean multinational electronics giant based, has reportedly unveiled its latest in-vehicle infotainment (IVI) concept" ["date"]=> string(19) "2022-01-04 18:39:15" ["publish_date"]=> string(10) "01/04/2022" ["author"]=> string(10) "Rini Dalvi" ["type"]=> string(4) "news" ["image_url"]=> string(80) "img/news/ces-2022-lg-electronics-to-launch-self-driving-infotainment-vehicle.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [54]=> object(stdClass)#80 (11) { ["id"]=> string(3) "279" ["name"]=> string(66) "Gaming platform EsportsXo secures USD 1.1 Mn in seed funding round" ["url"]=> string(66) "gaming-platform-esportsxo-secures-usd-1-1-mn-in-seed-funding-round" ["full_desc"]=> string(2521) "EsportsXo, a SaaS-based gaming platform has reportedly raised USD 1.1 million in its latest seed funding round. The fundraising was led by We Founder Circle, which is a founder-driven angel network.
The latest fundraise saw participation from existing investors including Mumbai Angels Network, SOSV, FAAD Network Pvt. Ltd., Gaming Lounge, and SucSEED Indovation Fund.
For those unfamiliar, the Bengaluru-based company allows game publishers and advertisers to create personalized tournaments for their customers. Last year, the platform claimed to have hosted more than 250 tournaments across eight games, which drew in a total of over two million people.
The firm intends to invest 40% of the freshly raised funds into non-tech and tech employees, while the remaining will be used in operations as well as marketing departments. The company also plans to build an esports metaverse for players and fans.
Vikas Goyal, Co-Founder at EsportsXo was reportedly quoted saying that e-sports in India is at the same stage as e-commerce was 15 years ago, with numerous chances for everyone. India's and the rest of the APAC (Asia-Pacific) region's markets are enormous, leaving the company plenty of potential for innovation and expansion.
Meanwhile, the angel network, We Founder Circle just has made investments of USD 12 million in 30 startups across ten industries. Earlier this month, the founder-driven network invested in the electric vehicle startup Oben EV.
For the record, EsportsXo was founded by Utsav Umang, Vikas Goyal, and Rohit Raj in 2020, and before the current Seed round, the three founders had raised USD 200,000 in their capacity.
The business seeks to create a global community of console, PC, and mobile gamers who can all play on the same platform. EsportsXo also plans to develop a platform that will include e-learning, merchandising, non-fungible tokens (NFTs), content, and social networking.
Source Credit:
https://www.vccircle.com/gaming-startup-esportsxo-raises-seed-funding-from-we-founder-circle-others
" ["meta_description"]=> string(111) "EsportsXo, a SaaS-based gaming platform has reportedly raised USD 1.1 million in its latest seed funding round." ["date"]=> string(19) "2021-12-29 10:15:02" ["publish_date"]=> string(10) "12/29/2021" ["author"]=> string(10) "Rini Dalvi" ["type"]=> string(4) "news" ["image_url"]=> string(79) "img/news/gaming-platform-esportsxo-secures-usd-1-1-mn-in-seed-funding-round.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [55]=> object(stdClass)#81 (11) { ["id"]=> string(3) "276" ["name"]=> string(70) "China’s internet watchdog fines online platforms for illegal content" ["url"]=> string(67) "chinas-internet-watchdog-fines-online-platforms-for-illegal-content" ["full_desc"]=> string(2834) "The Cyberspace Administration of China (CAC) has reportedly penalized Douban, an online platform where millions of Chinese people review films and discuss numerous social subjects; and Weibo, a microblogging site, for unlawful content this month.
In September, China's State Council released guidelines for creating refined internet content, stating that the internet should be used to promote education about the ruling Communist Party and its accomplishments.
China's cyber authority stated that it will scrutinize online platforms such as video-sharing and social media sites to crack down on bogus accounts and content as part of its effort to clean up the internet.
It also announced a two-month special operation to combat dishonest online behavior, which includes anything from raising engagement numbers to paying for fake fans and reviews.
The investigation comes amid a broad regulatory crackdown across several industries, with officials tightly monitoring enterprises in technology, real estate, gaming, education, cryptocurrencies, and banking.
CAC, in a video conference with its provincial and municipal authorities from throughout the country, announced that currently, activities like misrepresenting online traffic, hostile public relations, and comments-for-cash are undermining netizens' legitimate rights and interests. The authority added that this would be the last fight in CAC's campaign to clean up the internet.
Previous special operations conducted this year have targeted issues like celebrity fandoms, minors' internet use, and discussions of historical events that differ from the ruling Chinese Communist Party's official narrative.
According to sources, the CAC’s current operation is expected to focus mainly on platforms that carry film and book reviews, short videos, and social networking.
Source credits-
" ["meta_description"]=> string(246) "The Cyberspace Administration of China (CAC) has reportedly penalized Douban, an online platform where millions of Chinese people review films and discuss numerous social subjects; and Weibo, a microblogging site, for unlawful content this month." ["date"]=> string(19) "2021-12-25 14:00:01" ["publish_date"]=> string(10) "12/25/2021" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(80) "img/news/chinas-internet-watchdog-fines-online-platforms-for-illegal-content.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [56]=> object(stdClass)#82 (11) { ["id"]=> string(3) "275" ["name"]=> string(70) "Top tech brands back out from Las Vegas CES meeting amid Omicron surge" ["url"]=> string(70) "top-tech-brands-back-out-from-las-vegas-ces-meeting-amid-omicron-surge" ["full_desc"]=> string(2532) "The 2022 Consumer Electronics Show (CES) scheduled to be held in Las Vegas will reportedly observe the absence of big conglomerates like Amazon, Twitter and Facebook. The firms have announced their decision of not sending teams for participation amidst growing concerns regarding the spread of the Omicron variant of Covid-19.
As per credible sources, some other organizations along with Google, and a self-drive entity Waymo, have given a green signal to be an attendee at the event.
For the uninitiated, the conference will commence from January 5th and will last for four days, following all the necessary health protocols. The participants need to be fully vaccinated against Covid-19 and carry the proof of vaccination along.
Furthermore, the attendees will also be required to wear a mask and get tested before departing for Las Vegas, followed by another test within 24 hours of the event and on-site Covid testing.
According to reports, the event will also have a digital version alongside the physical one, providing access to keynote speeches, conference sessions, and networking.
As one of the busiest weeks of the technology calendar, CES provides a platform to organizations for showcasing advanced gadgets and talking about trends. Previously, before the pandemic, the event has attracted nearly 180,000 visitors.
Back in 2020, the event solely took place via a virtual format as the Consumer Technology Association, which runs the event, declared it unsafe to assemble thousands of participants.
Gary Shapiro, event organizer, stated that he is looking forward to a real-life gathering for this year’s event with the best hygiene measures and social distancing norms.
Gary added that there is desperate need for human contact and hopefully by observing the other social gatherings, teams will organize a unique experience for the participants.
Another big technological conference, Web Summit, held in Lisbon, went ahead as planned, while observing a limited attendance.
Source credit: https://www.bbc.co.uk/news/technology-59756383
" ["meta_description"]=> string(167) "The 2022 Consumer Electronics Show (CES) scheduled to be held in Las Vegas will reportedly observe the absence of big conglomerates like Amazon, Twitter and Facebook. " ["date"]=> string(19) "2021-12-24 13:21:30" ["publish_date"]=> string(10) "12/24/2021" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(83) "img/news/top-tech-brands-back-out-from-las-vegas-ces-meeting-amid-omicron-surge.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [57]=> object(stdClass)#83 (11) { ["id"]=> string(3) "270" ["name"]=> string(73) "Uber’s same-day delivery service now available across 6,000 U.S. cities" ["url"]=> string(68) "ubers-same-day-delivery-service-now-available-across-6000-u-s-cities" ["full_desc"]=> string(2618) "Uber Technologies Inc. has announced the expansion of its same-day courier service, Uber Connect to more cities in the U.S. The firm is also planning to add new features to make receiving and sending parcels easier for drivers as well as customers.
For those unfamiliar, Uber Connect was launched in April 2020 to expand the company’s business during the initial months of the pandemic. The service is now available in 6,000 U.S. cities & towns including Philadelphia, New York City, Pittsburgh, San Francisco, Los Angeles, and San Diego.
The firm has since seen extraordinary growth in Uber Connect, with a 200 percent increase in trips during the first week of January 2021.
In addition to expanding into new areas, Uber now allows senders to give their driver delivery instructions such as "handle with care" and schedule "meet at door" pick-up and delivery. Initially, the package recipient had to meet the courier at the curb.
Incidentally, sources claim that Uber isn't exploring same-day local delivery for the first time. The company operated Uber Rush from 2014 to 2018, and also offered an API to allow private companies to use it as a delivery alternative. However, it never expanded beyond a few big cities.
Uber's core ride-hailing business suffered during the pandemic due to the imposition of strict lockdown restrictions. As a result, the company immediately shifted its focus to food delivery and then to groceries, to generate new revenue sources. As it tries to make up for a nationwide driver shortage, Uber continues to rely primarily on cash from its delivery services.
Post the announcement of the expansion, Uber has obtained several smaller businesses in recent months to help augment the expansion of its grocery delivery segment, including Cornershop, Postmates, and Drizly.
The company is also collaborating with Gopuff, a delivery service that focuses on delivering instant need products such as liquor, beauty & pet products, snacks, and over-the-counter medications.
Source Credit:
https://www.theverge.com/2021/12/16/22838302/uber-connect-cities-same-day-delivery-expand
" ["meta_description"]=> string(123) "Uber Technologies Inc. has announced the expansion of its same-day courier service, Uber Connect to more cities in the U.S." ["date"]=> string(19) "2021-12-18 13:00:02" ["publish_date"]=> string(10) "12/18/2021" ["author"]=> string(10) "Sumit Horo" ["type"]=> string(4) "news" ["image_url"]=> string(81) "img/news/ubers-same-day-delivery-service-now-available-across-6000-u-s-cities.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [58]=> object(stdClass)#84 (11) { ["id"]=> string(3) "268" ["name"]=> string(68) "Toyota and Lexus make shock reveal of 15 new electric vehicle models" ["url"]=> string(68) "toyota-and-lexus-make-shock-reveal-of-15-new-electric-vehicle-models" ["full_desc"]=> string(3101) "Japanese carmaker Toyota’s president, Akio Toyoda, has reportedly unveiled a line-up of 15 supremely diverse electric vehicle concepts under both of the company’s brands, Toyota and Lexus; its luxury vehicle division. Toyoda also detailed plans for both car manufacturers to launch 30 battery-electric vehicles by 2030.
According to reports, Toyoda also revealed an ambitious goal wherein the two companies would aim to sell over 3.5 million battery-electric vehicles, spanning BEVs and FCEVs, by 2030, up from the earlier aim of two million.
The president stated that the firms must reduce their carbon emissions as much as possible, as fast as possible, adding that the companies will expand their portfolio of carbon-neutral vehicles that run on sustainable energy.
Toyoda compared the ambitious target to that of Daimler, PSA, and other companies with worldwide sales equivalent to that of Toyota's.
The corporation has also increased its investment in the field of EV battery development by more than ¥500 billion (£3.3 billion) to ¥2 trillion (£13.3 billion).
While making the announcement, Toyoda addressed the difference between carbon-neutral versus carbon-reducing cars, emphasizing that the source of energy utilized to power the firm's EVs is among the most critical aspects of the plan. He claimed that Toyota and Lexus will attain carbon neutrality by 2035.
The first concept to be unveiled was for the bZ-badged EVs, which would accompany the company's new bZ4X SUV to market in the coming time; a compact SUV, an Aygo X-inspired urban SUV built for Europe and Japan, a full-size SUV, and a mid-sized saloon.
Along with small commercial urban EVs, a pick-up truck, full-sized off-roaders, as well as a couple of supercars, Toyota and Lexus showed a further 11 vehicles that highlight the diversity of the company's planned EVs.
Toyoda announced that Lexus will release electric vehicles in all segments by 2030, go all-electric in North America, Europe, and China by 2030, and eliminate combustion entirely by 2035.
In 2022, Lexus will introduce the RZ crossover, which will be based on the same e-TNGA design as the Toyota bZ4X and Subaru Solterra.
Closely following that would be a whole line of electric vehicles, which would include a full-size SUV in the manner of the RX, an IS-sized saloon, as well as a dedicated supercar, all based on the concepts that were on show.
Source credit: https://www.autocar.co.uk/car-news/new-cars/toyota-and-lexus-shock-reveal-15-new-electric-cars
" ["meta_description"]=> string(173) "Japanese carmaker Toyota’s president, Akio Toyoda, has reportedly unveiled a line-up of 15 supremely diverse electric vehicle concepts under both of the company’s brands" ["date"]=> string(19) "2021-12-16 15:47:18" ["publish_date"]=> string(10) "12/16/2021" ["author"]=> string(10) "Rini Dalvi" ["type"]=> string(4) "news" ["image_url"]=> string(81) "img/news/toyota-and-lexus-make-shock-reveal-of-15-new-electric-vehicle-models.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } [59]=> object(stdClass)#85 (11) { ["id"]=> string(3) "265" ["name"]=> string(68) "Japanese scientists develop vaccine to remove cells that cause aging" ["url"]=> string(68) "japanese-scientists-develop-vaccine-to-remove-cells-that-cause-aging" ["full_desc"]=> string(2643) "A research team from Juntendo University in Japan claims to have developed an innovative vaccine that can effectively eliminate ‘zombie cells’, which are cells that accumulate in living beings with age and cause damage to nearby cells, leading to aging-related diseases like arterial stiffening.
The research team, led by Professor Toru Minamino from Juntendo University in Tokyo, has published its research in the online version of the Nature Aging journal. The results confirm that the mice that had been administered with the new vaccine have shown a decrease in the number of zombie cells, also called senescent cells, as well as in the size of areas affected by arterial stiffening.
Prof. Minamino stated they can expect the utilization of the vaccine in the treatment of arterial stiffening, diabetes as well as in other diseases related to aging.
For the uninitiated, the senescent cells are cells that have stopped dividing but have not died, accumulating in the body with time and causing damage to nearby healthy cells by releasing inflammation-causing chemicals.
The team was supposedly able to identify a protein found in these cells, found in humans and mice, to create a peptide vaccine through an amino acid found in the protein.
With the vaccine, the body can create antibodies that will attach themselves to these senescent cells, which will then be removed by the white blood cells (WBCs) that will identify and stick to the antibodies.
The team had administered the vaccine to mice suffering from arterial stiffening and reported that many of the accumulated zombie cells were removed, causing the areas affected by the disease to shrink as well.
The vaccine was also administered to aged mice, where researchers noticed that their fatality progression had slowed down as compared to that of unvaccinated mice.
Currently, much of the existing drugs that can remove senescent cells are used for the treatment of cancer, but also have negative side effects. The team has said that the new vaccine has fewer side effects with long-lasting efficacy.
Source credit: https://www.japantimes.co.jp/news/2021/12/12/national/science-health/aging-vaccine/
" ["meta_description"]=> string(146) "A research team from Juntendo University in Japan claims to have developed an innovative vaccine that can effectively eliminate ‘zombie cells’" ["date"]=> string(19) "2021-12-13 20:06:58" ["publish_date"]=> string(10) "12/13/2021" ["author"]=> string(10) "Rini Dalvi" ["type"]=> string(4) "news" ["image_url"]=> string(81) "img/news/japanese-scientists-develop-vaccine-to-remove-cells-that-cause-aging.jpg" ["algos_mail_id"]=> string(41) "connect.author@littlesaigoncollective.com" } }