Bitcoin tumbles 10% in wake of deepening China crackdown

Twitter says available for questioning via video conferencing

Facebook, WhatsApp urge HC to stay CCI notice in privacy policy matter

German union calls for Amazon workers to strike on ‘Prime Day’

A German trade union called on workers at seven Amazon warehouses to go on strike on Monday for several days to coincide with the global Prime Day promotion. Verdi said it was organising the three-day strike as part of a long-running battle with the U.S. tech giant in Germany over better pay and working conditions. […]

Indonesia sees more entrants, different playbooks tapping lucrative e-grocery market

Photo: Pixabay Indonesia’s e-grocery space has been one of the beneficiary sectors of the COVID-19 pandemic that led to urban customers buying their daily essentials online due to social distancing and movement curbs. 

Twitter, Facebook, Google staring at higher tax bills under India IT rules

Mumbai: As Twitter, Google and Facebook appoint nodal officers to comply with India’s new information technology (IT) rules, they could see their domestic tax bills jump from this year onward, said people with knowledge of the matter. Top digital companies do not have a presence or permanent establishment (PE) in India and hence don’t pay […]

India responds to the United Nations on new IT rules

Bengaluru: India has told the United Nations that the new IT rules were finalised by the government after broad consultations with various stakeholders, civil society, industry associations and organisations, after three special rapporteurs from the UN early this month raised concerns with certain parts of the legislation, and said that “due diligence obligations” placed on […]

Mumbai model: Outsmarting corona with smart use of tech

When the second Covid-19 wave hit Mumbai a few months ago, the local authorities were quick to respond. Their turnaround time in reaching out to patients was quicker by 50% and they could manage their health infrastructure more efficiently. The authorities got in touch with patients within 24 hours of them getting tested as against […]

Venture capital makes a record $17 billion bet on crypto world

By Brandon Kochkodin For a sense of just how big everything crypto has become, you can, of course, just take a look at coin and token prices. And then you can check again five minutes later to see if the space’s notorious volatility has markedly changed the first observation. But for a more stable measure […]

Google searches for new measure of skin tones to curb bias in products

Alphabet’s Google told Reuters this week it is developing an alternative to the industry standard method for classifying skin tones, which a growing chorus of technology researchers and dermatologists says is inadequate for assessing whether products are biased against people of color. At issue is a six-color scale known as Fitzpatrick Skin Type (FST), which […]

Twitter questioned on IT law violations, compliance officer appointment

Twitter India accepted before the Parliamentary Standing Committee on Information Technology that it differentiates between tweets- promoting the healthy ones and suppressing the harmful- and gives priority to its own laid down policies over the law of the land in cases of conflict, leading the panel to conclude that this is a gross violation of […]

Tech companies lobby for change in IT rules

Global internet and social media giants including Google, Facebook and WhatsApp that have complied with India’s new IT rules continue to engage with the government as they seek the withdrawal of certain contentious clauses, people familiar with the developments told ET. These companies, along with industry bodies, are pressing for the removal of specific clauses, […]

Prepared to work with Parliamentary panel on safeguarding citizens’ rights online: Twitter

Twitter on Friday said it “stands prepared” to work with the Parliamentary Standing Committee on IT on safeguarding citizens’ rights online, even as the panel categorically told the microblogging platform that rule of the land is supreme and not the company’s policies. Twitter India‘s public policy manager Shagufta Kamran and legal counsel Ayushi Kapoor deposed […]

Rule of land supreme, not your policy: Parliamentary panel on information technology to Twitter

Amid a tussle between the Union government and Twitter over the new IT rules, members of a parliamentary panel on Friday strongly objected to Twitter India officials’ observations that they abide by their policy and categorically told them that the rule of land is supreme. According to sources, members of the Parliamentary Panel on Information […]

Facebook’s ‘Neighborhoods’ faces crowded niche market, profiling concerns

When Facebook began testing its new “Neighborhoods” feature in Canada last October amid the COVID-19 pandemic, the tech giant described it as a dedicated place for people to connect with their local communities. Here, in a corner of the world’s largest social network, people met neighbors, shared banana bread ingredients, helped locate missing cats and […]

Google’s adtech business set to face formal EU probe by year-end

BRUSSELS, – Alphabet unit Google could face its biggest regulatory threat, with EU antitrust regulators set to open a formal investigation into its lucrative digital advertising business before the end of the year, said people familiar with the matter. It would mark a new front by the EU competition enforcer against Google. It has in […]

India tops global market in number of finance app installs: AppsFlyer

Download of fintech apps grew 26% year on year in India in 2020 and 132% globally, according to Appsflyer’s State of Finance App Marketing report. India topped the global market in the number of finance app installs. More than 80% of finance app installs in India were for financial services, as the market continues to […]

Twitter India deposes before Shashi Tharoor-led parliamentary panel

New Delhi: Representatives of Twitter India Pvt. Ltd. deposed before Congress leader Shashi Tharoor-led parliamentary committee over preventing misuse of social media. Twitter India’s public policy manager Shagufta Kamran and legal counsel Ayushi Kapoor represented the microblogging platform. The Parliamentary Standing Committee on Information and Technology, chaired by Tharoor, had last week summoned Twitter over […]

Instagram Reels gets ads to help businesses reach ‘greater’ audiences

New Delhi: Facebook’s photo and video sharing app Instagram said on Friday it is launching advertisements on its short video format Reels across the world. Instagram said the advertisements will be introduced globally after a ‘successful’ test in select countries. The company said the ads will help businesses reach ‘greater’ audiences, allowing people to discover […]

UP Police summons Twitter India MD in Ghaziabad viral video case

Bengaluru: Police in Uttar Pradesh have sent a notice to Twitter India MD Manish Maheshwari, summoning him to appear before a Ghaziabad police station for questioning in connection with a viral video of an attack on an elderly person in the state. The notice issued on Thursday, reviewed by ET, asks Maheshwari to appear in […]

India’s crypto industry attracts foreign funds, but local investors remain wary

Blue chip venture capital funds, known for making risky bets, are eager to invest in Indian crypto and blockchain startups, but say the uncertain policy environment is standing in their way. In the meantime, international funds are scooping up early winners and reaping the benefits of startups founded by Indians in the blockchain ecosystem. Sequoia […]

CEO Anthony Tan’s enormous clout over Grab after proposed IPO raises questions

Photo by Kosaku Mimura / Nikkei Asia After arranging to take Grab public in a deal that values his “super app” company at as much as $39.6 billion, Anthony Tan told his employees the deal merely touches “the tip of the iceberg” in terms of the impact it will have on Southeast Asia.

Chairman & CEO: Satya Nadella gets top job at MS Office

Satya Nadella was unanimously elected as executive chairman of Microsoft on Thursday, nearly three decades after he joined the iconic software maker that has since transformed into a cloud computing giant under the watch of the India-born chief executive and is now the world’s second most valuable company after phone maker Apple. Nadella is only […]

Fact-checkers say Twitter needs domain experts to weed out misinformation

A day after the Uttar Pradesh Police filed an FIR against Twitter and seven others in connection with a viral video of an attack on an elderly person, a top official said the state police’s cybercrime department has been getting a lot of complaints against the microblogging platform. Since Twitter doesn’t provide the police with […]

Facebook launches ads globally for Instagram Reels

Facebook Inc is launching ads globally on its TikTok clone Instagram Reels, the company said on Thursday. The social media company, which is aiming to make money from its short-form video feature, began testing Instagram Reels ads in India, Brazil, Germany and Australia in April. The tests ran with brands such as BMW , Louis […]

Index publisher MSCI looking at launch of crypto indexes

Global securities index publisher MSCI is looking at launching indexes for cryptocurrency assets, according to Chief Executive Henry Fernandez, in what would be another step towards mainstream acceptance for digital currencies and the companies trading in them. Fernandez, speaking at a Clubhouse event organized by venture capital firm Andreessen Horowitz earlier this week, said MSCI […]

Twitter says cooperated with Delhi Police on ‘manipulated media’ issue

Bengaluru: Social networking giant Twitter on Wednesday said that it has cooperated with the Delhi Police and made clear its global policy position on ‘manipulated media’ in an ongoing investigation into the company’s use of the contentious label on Tweets made by some Indian politicians. The microblogging platform confirmed to ET that it had cooperated […]

Amazon, Flipkart challenge Karnataka HC order to stall CCI probe

Walmart-owned Flipkart and Amazon India have both challenged the Karnataka High Court order with a new appeal made to the division bench over the Competition Commission of India (CCI) probe on the ecommerce majors. Last week, the HC had dismissed a plea by Flipkart and Amazon India paving the way for CCI to restart its […]

Govt vs Twitter: Will courts decide who champions freedom of expression?

ET Now held a panel discussion on the ongoing tussle between the Government of India and social media website Twitter with panelists Apar Gupta, Co-founder, Internet Freedom Foundation and Arvind Gupta, Head, Digital India Foundation. Edited excerpts: You have been saying that Twitter has not in fact lost intermediary status and that only a court […]

Microsoft names CEO Satya Nadella as chairman

Bengaluru: Microsoft Corp. on Wednesday named Chief Executive Officer Satya Nadella as its new chairman, in place of John Thompson. India-born Nadella, who replaced Steve Ballmer as Microsoft CEO in 2014, has been instrumental in scaling up the Redmond, Washington-based company’s business including billion-dollar acquisitions like LinkedIn, Nuance Communications and ZeniMax. The company said Thompson, […]

Industry groupings seek withdrawal of personal liability provision

Top industry groupings have sought the withdrawal of a specific clause in India’s new IT rules, which imposes a personal criminal liability on the chief compliance officer of significant social media companies such as Twitter and Facebook. In multiple representations made to the government, the Internet and Mobile Association of India (IAMAI), the Confederation of […]

MX Taka Tak beats Facebook, Instagram in Asia downloads

Short video app MX Taka Tak was the number one app in Asia, beating popular social media apps like Instagram, Facebook and TikTok according to data from mobile app marketing intelligence firm Sensor Tower. The popularity of the short video apps in India also drove their position within Asia, with MX TakaTak, Moj, Josh and […]

Tim Cook says proposed EU tech rules threaten security of iPhones

Apple boss Tim Cook took aim on Wednesday at proposed European rules aimed at curbing the power of U.S. tech giants, saying they could pose security and privacy risks to iPhones. Cook, in his first public comments about the Digital Markets Act (DMA) proposed by EU antitrust chief Margrethe Vestager, said parts were good but […]

Facebook adds its first health fact-checking partner in India

Facebook said on Wednesday it is expanding its third-party fact-checking programme in India to include the first health-specialist partner, The Healthy Indian Project (THIP). Facebook said the move is aimed at combating Covid-19 and all other health-related misinformation on the platform. The company said THIP works with verified medical professionals to fact check misleading news […]

Chart of the Day: Hong Kong’s New Virtual Banks Bled Cash Last Year

Hong Kong’s eight virtual banks all lost money last year, with a combined pretax loss of HK$2.4 billion ($309 million), according to a report published Tuesday. Standard Chartered-backed Mox Bank reported the largest loss at HK$456 million, followed by Livi Bank at HK$438 million. Ant Bank (Hong Kong), the virtual banking arm of Ant Group […]

Flipkart opens new fulfilment centre in West Bengal

Flipkart on Wednesday announced that it has opened a new fulfilment centre in West Bengal which is its second-largest in the state to ramp up its supply chain infrastructure in the East. The new centre in Dankuni is spread over 2.2 lakh square feet and creates nearly 3,500 direct jobs which will cater to the […]

Fisher: Broader Indexes Offer Better Stock Portfolio Benchmarks

Once you build a portfolio, use your benchmark to gauge your sector and industry tilts’ effectiveness. Photo: VCG How are you doing? How an investor’s portfolio is actually doing is often like the definition of beauty — determined in the eyes of the beholder. Even investors with eerily similar portfolios offer wildly different replies depending […]

Ikea begins home delivery of products in Bengaluru

Swedish home furnishings giant Ikea has started home delivery of its products in Bengaluru, the company announced on Twitter. Hej Bengaluru, we will soon deliver our wide range of home furnishing solutions to your city, and we can’t wait to… — IKEAIndia (@IKEAIndia) 1623825788000 At the time of writing this article, several of the […]

Mark Zuckerberg hosts Facebook’s first public Live Audio Rooms

Bengaluru: Mark Zuckerberg hosted on Tuesday the first public test of Facebook’s upcoming Live Audio Rooms service in the US. Also attending the test session were Andrew Bosworth, Facebook’s vice president of AR/VR, and Head of Facebook App Fidji Simo. Testing out Live Audio Rooms with Mark, @fidjissimo, and some of our Facebook Gaming Creators […]

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