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 Apple is fighting an antitrust penalty law in India that could require it to pay massive fines in its ongoing antitrust dispute with Tinder owner Match, reports Reuters.
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DoorDash has agreed to purchase British food and grocery delivery service Deliveroo for $3.9 billion, the companies have revealed in a filing with the London Stock Exchange. The acquisition will "strengthen DoorDash's position as a leading global platform," the filing said. Deliveroo operates in nine regions, namely Belgium, France, Italy, Ireland, Kuwait, Qatar, Singapore, United Arab Emirates and the United Kingdom. All those regions are new for DoorDash and will give the combined companies access to a total population that exceeds 1 billion people.
It doesn't sound like DoorDash is erasing Deliveroo's brand after it takes over. Instead, they'll both be part of an "Enlarged Group" operating in multiple regions around the world, giving DoorDash an expanded presence in Europe and giving it an entry into the Middle Eastern market. "Both companies are highly complementary, whether in their geographic footprints or their missions, and I am confident that being part of the Enlarged Group will accelerate the realisation of Deliveroo's full potential," Deliveroo chair Claudia Arney said in a statement.
The acquisition is still subject to regulatory and antitrust approvals. As
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OpenAI has abandoned its controversial restructuring plan. In a dramatic reversal, the company said Monday it would no longer try to separate control of its for-profit arm from the non-profit board that currently oversees operations. "We made the decision for the nonprofit to retain control of OpenAI after hearing from civic leaders and engaging in constructive dialogue with the offices of the Attorney General of Delaware and the Attorney General of California," said Bret Taylor, the chairman of OpenAI.
OpenAI had originally argued its existing structure would not allow its nonprofit to "easily do more than control the for-profit." It also said it needed more money, a mere two months after securing $6.6 billion in new investment. "We once again need to raise more capital than we'd imagined," the company wrote in December. "Investors want to back us but, at this scale of capital, need conventional equity and less structural bespokeness."
OpenAI's previous plan called for the nonprofit to cede absolute control of the for-profit, in return for whatever degree of control came with the amount of stock it was granted through the reorganization process.
This was the controversial part of OpenAI's plan, with many, including former employees, labor and nonprofit groups and even Elon Musk, voicing opposition to the proposal. Now, the company says its nonprofit will retain control and be
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The Irish Data Protection Commission (DPC) has fined TikTok owner ByteDance €530 million ($602 million) for breaching the European Union's privacy laws. The regulator said TikTok sent European user data to China without being able to guarantee that the information was safe from government surveillance.
It was reported last month that the DPC was going to slap TikTok with such a fine — the third-largest ever for a General Data Protection Regulation (GDPR) breach. The regulator confirmed that on Friday.
The DPC, which handles enforcement of the GDPR when it comes to TikTok (which has its European HQ in Ireland), also ruled that the platform wasn't adequately transparent with users. Along with the fine, the DPC gave TikTok six months to halt all illegal data transfers.
TikTok claimed during the four-year probe that it didn't store data from European Economic Area users on servers in China. However, it told the DPC last month it learned in February that "limited EEA User Data" had been stored there and admitted that contradicted what it previously said to regulators.
"The DPC is taking these recent developments r
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TIME100 talks panelists agreed that a focused bill regulating stablecoins could help cement the U.S. dollar's dominance.
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