Platform Executive

The full version of the article, along with thousands like it, can be found here: Apple objects to links to outside payments ahead of Epic Games hearing Apple has outlined its objections to allowing app developers to link to third-party payment options ahead of a hearing next month that could determine whether a set of antitrust court orders is put on pause. After a lengthy trial earlier this year brought by "Fortnite" creator Epic Games , US District Court Judge Yvonne Gonzalez Rogers issued a ruling that was largely favourable to the iPhone maker and upheld its practice of requiring developers to use its in-app payment system, for which it charges commissions. But Gonzalez Rogers expressed concern that consumers did not have access to information about other ways to pay for apps. She ordered Apple to stop its ban on "buttons, external links, or other calls to action that direct customers to purchasing mechanisms" beyond Apple's own payment systems. Apple

The full version of the article, along with thousands like it, can be found here: After Facebook change, Big Tech’s FAANG considers toothless MAANG Facebook's rebranding to Meta Platforms has launched a search for a new name for the high-flying FAANG group that also includes the likes of Apple, Amazon.com, Netflix and Alphabet. Facebook on Thursday announced it is now called Meta Platforms as the social media company shifts to building the ambitious "metaverse", a shared virtual environment. The name change comes after a damaging whistleblower report and criticism from lawmakers and regulators over its market power. The most popular suggestion on Twitter for the tech-related heavyweight group was MAANG  -- where FAANG's "F" is replaced with "M". Some users also rearranged the letters to MANGA, referring to Japanese comic books. The elite FAANG stocks have a combined market capitalization of about $7.416 trillion so far this year, up from abo

The full version of the article, along with thousands like it, can be found here: How Apple is gaining smartphone customers during a chip shortage Apple Inc is eating into its rivals' smartphone market share as the iPhone maker navigates through a global chip crunch better than other mobile phone makers, according to data providers. Higher iPhone shipments helped Apple gain at least 3% market share in global smartphones in the third quarter, even as overall shipments shrunk by about 6% due to the chip shortage, according to data from market research firms Counterpoint, IDC and Canalys. Given how closely tech companies guard smartphone sales data, the shipment figures are the best indication of who customers prefer. "We are expecting another massive quarter for Apple and our expectation is they'll take a similar 20% shipment share in calendar year Q4," Counterpoint analyst Tarun Pathak said. Apple has weathered the supply crunch better than many other companies

The full version of the article, along with thousands like it, can be found here: Tencent’s $1.3 billion Sumo deal comes under US security probe A US national security panel is investigating Tencent Holdings' $1.27 billion takeover of Sumo Group, the UK videogame maker has said, in a possible setback to the Chinese internet giant. Sumo, which has studios in the United States and four other countries, said Tencent had agreed to offer undertakings to gain approval from the Committee on Foreign Investment in the United States (CFIUS), which assesses deals to ensure they do not hurt national security. The secretive task force, which is also looking into the US sale of video-sharing app TikTok , had tightened its scrutiny of Chinese deals under former President Donald J Trump. Tencent had made a deal with Sumo in July, just days after China's market regulator blocked its plans to merge videogame streaming sites, Huya and DouYu, on antitrust grounds. Sumo and Tencent are engag

The full version of the article, along with thousands like it, can be found here: Online learning firm Udemy valued at $3.7 billion in tepid Nasdaq debut Online learning company Udemy Inc, which has grown rapidly over the past year due to a surge in demand for online learning, was valued at $3.7 billion after its shares opened 7% below offer price in their Nasdaq debut late last week. The San Francisco, California-based company is the latest in a string of online education firms which have gone public this year, joining the likes of Coursera Inc and Nerdy Inc looking to cash in on the demand during the COVID-19 pandemic. However, some recent hiccups in the U.S. IPO market forced hopefuls like NordicTrack-owner iFIT Health & Fitness Inc and Allvue Systems Holdings to pull the plug on their listings earlier this month. Both the companies cited adverse market conditions for delaying their share sales. Udemy's shares opened at $27, down from the initial public offering price

The full version of the article, along with thousands like it, can be found here: EU countries aiming for common position on tech rules this month EU countries aim to agree on a common negotiating position on two sets of draft rules to curb the powers of US tech giants on November the 25th, people involved in the discussions have said, though squabbles among EU lawmakers could delay the rules' adoption. The Digital Markets Act (DMA) sets out a list of dos and don'ts for online gatekeepers - companies that control data and access to their platforms - such as Amazon , Apple and Facebook . The Digital Services Act (DSA) requires the tech companies to do more to tackle illegal content on their online platforms. Violations can result in hefty fines. EU countries have agreed on most key points for the DSA and will discuss the last remaining issue, namely who gets to regulate very large online platforms, during a preparatory meeting on Nov. 8, the people said. The current rules

The full version of the article, along with thousands like it, can be found here: Amazon’s holiday forecast disappoints as labour, supply issues mount Amazon.com Inc has reported a slump in profit that it expects will continue through the holiday quarter, as higher wages and spending to attract workers diminish the company's windfall from online shopping. Shares in the e-commerce titan fell 4% in after-hours trade. After a year of blockbuster results, the world's largest online retailer is facing a tougher outlook. In a tight labour market, it has boosted average US warehouse pay to $18 per hour and marketed ever bigger signing bonuses to attract blue-collar staff it needs to keep its high-turnover operation humming. The company meanwhile is contending with global supply chain disruptions. It has doubled its container processing ability, expanded its delivery service partner program and has ramped up its warehouse investments - all at a noteworthy cost. The company said

The full version of the article, along with thousands like it, can be found here: Apple results hit by supply chain woes Supply chain woes cost Apple Inc $6 billion in sales during the company's fiscal fourth quarter, which missed Wall Street expectations, and CEO Tim Cook said that the impact will be even worse during the current holiday sales quarter. Cook told Reuters on Thursday the quarter ended Sept. 25 had "larger than expected supply constraints" as well as pandemic-related manufacturing disruptions in Southeast Asia. While Apple had seen "significant improvement" by late October in those Southeast Asian facilities, the chip shortage has persisted and is now affecting "most of our products," Cook said. "We're doing everything we can do to get more (chips) and also everything we can do operationally to make sure we're moving just as fast as possible," Cook said. Cook said the company expects year-over-growth for its quart

The full version of the article, along with thousands like it, can be found here: Microsoft to work with community colleges to fill 250,000 cyber jobs Microsoft Corp has said it plans to work with community colleges across the United States to fill 250,000 cybersecurity jobs over the next four years. Microsoft said it will provide scholarships or assistance to about 25,000 students and will provide training for new and existing teachers at 150 community colleges across the country. The company also said that it will provide curriculum materials for free to all community colleges, as well as four-year schools, in the country. "Over the next three years, we'll put many tens of millions of dollars behind this effort," Microsoft President Brad Smith said in a press briefing. "This is an opportunity for us to get started. This is not the ceiling on what we'll do." Microsoft's efforts come as the United States has faced some of the broadest and most s

The full version of the article, along with thousands like it, can be found here: Shopify’s revenue rises in run-up to key holiday season; shares up Canadian e-commerce giant Shopify Inc reported a 46% rise in quarterly revenue as consumer spending "normalizes" after a year of a pandemic-fuelled online shopping frenzy, sending its shares up 9%. The widespread shift to e-commerce at the height of the pandemic had brought a wave of new business to Shopify, which provides infrastructure for retailers to set up their stores online and generates revenue mainly through subscriptions and merchant services. However, on a call with analysts, Shopify executives flagged "pressures in supply chain" for the key holiday shopping season. Companies across the globe have sounded alarm bells on supply issues that have pushed costs higher and made some products scarce. Shopify raked in billions of dollars over the past year, growing quarterly revenue by over 90% in four of the

The full version of the article, along with thousands like it, can be found here: Facebook rebrands itself as ‘Meta’ Facebook Inc is now called Meta, the company has said, in a rebrand that focuses on building the "metaverse," a shared virtual environment that it bets will be the successor to the mobile internet. The name change comes as the world's largest social media company battles criticisms from lawmakers and regulators over its market power, algorithmic decisions and the policing of abuses on its services. Founder and Chief Executive Mark Zuckerberg, speaking at the company's live-streamed virtual and augmented reality conference, said the new name reflected its work investing in the metaverse, rather than its namesake social media service, which will continue to be called Facebook. The metaverse is a term coined in the dystopian novel "Snow Crash" three decades ago and now attracting buzz in Silicon Valley. It refers broadly to the idea of a sh

The full version of the article, along with thousands like it, can be found here: Microsoft nearly overtakes Apple as most valuable company A surge in Microsoft Corp's shares nearly unseated Apple Inc as the world's most valuable company yesterday, a day before the iPhone maker reports its quarterly results. Fuelled by strong quarterly growth in its Azure cloud-computing business, Microsoft's shares jumped 4.2% to end at a record $323.17, elevating the software maker's market capitalization to $2.426 trillion, just short of Apple's $2.461 trillion valuation, according to Refinitiv data. Apple's shares dipped 0.3% ahead of its report due after the bell on Thursday, with investors focused on how the global supply-chain crisis is challenging the company's ability to meet demand for its iPhones. Microsoft's stock has rallied 45% this year, with pandemic-induced demand for its cloud-based services driving sales. Shares of Apple have climbed 12% in 2021

The full version of the article, along with thousands like it, can be found here: Esports talent in South Korea gets boost from big business South Korean teenager Yoon Ki-chan gets just three hours of sleep a day but spends more than three times that playing online games - with the blessing of his parents and teachers - as he dreams of becoming a top pro League of Legends player. Yoon and his peers are the next generation of gamers in South Korea, a fast-growing esports powerhouse whose players have won Riot Games' League of Legends World Championship six times since the most-watched esports event began in 2011. They will also benefit from the country's announcement in August that it would abolish a decade-old law which bans those below the age of 16 from playing online games on computers from midnight to 6am, over a growing consensus that youths are increasingly using their mobile phones instead. "I suffered a lot from the shutdown law. I typically don't sleep a

The full version of the article, along with thousands like it, can be found here: Amazon seen triumphing over Apple privacy changes in digital ad business Amazon.com is expected to emerge as a winner in the digital advertising arena, surviving Apple's privacy changes better than rivals Facebook and Snap . The e-commerce giant's vast trove of customer shopping data reduces its reliance on tracking info once provided by Apple's iOS mobile operating system. Others including Alphabet , which also collects a rich set of data from users' search habits, reported a 41% surge in Google advertising revenue for the third quarter, a sign that businesses that rely less on targeted ads are able to overcome Apple's limits on tracking mobile users. Amazon, which reports earnings on Thursday, does not break out its advertising sales, but nestles it in its "other" business segment. "Google and Amazon require a user to already be looking for something, therefore

The full version of the article, along with thousands like it, can be found here: EBay revenue outlook disappoints as pandemic-led boom fades EBay has projected holiday-quarter revenue below market expectations, another sign that the online shopping boom fuelled by the pandemic was tapering as consumers returned to stores. The company was a big corporate winner in 2020 when lockdowns forced people to shop on its online marketplace, but growth has slowed since then as vaccinations encourage consumers to step out. EBay said it expected fourth-quarter revenue between $2.57 billion and $2.62 billion, well below analysts' average estimate of $2.65 billion, according to Refinitiv IBES data. The company also reported a 5% decline in the number of active buyers on its marketplace in the third quarter. Gross merchandise volume, the total dollar value of sales on eBay from which the company takes a percentage, fell 10%. But a strong showing by its payment services and the expansion

The full version of the article, along with thousands like it, can be found here: US consumer watchdog to review Big Tech data, promote lending competition Chief consumer finance watchdog Rohit Chopra has told US lawmakers his agency will review Big Tech's impact on the flow of money in the economy as leading technology firms use real-time consumer payments systems that collect huge amounts of personal data. Chopra, head of the Consumer Financial Protection Bureau (CFPB), said Big Tech's entrance into the payment sector raises questions, including: "How will these firms harvest and monetize data they collect on our transactions? What criteria will they use to decide who is removed from the platform? How will they ensure that payment systems adhere to consumer protections?" The agency will also aim to minimize foreclosures on struggling American homeowners and make consumer lending more competitive, he said. And, it will sharpen its enforcement focus on companies