As the deadline for a potential US TikTok ban approaches, businessman Frank McCourt’s Project Liberty has made a bold move. Just days before the Supreme Court hears arguments on the ban, McCourt’s internet advocacy nonprofit submitted a proposal to purchase the popular social media platform from its Chinese owner, ByteDance. The bid, part of the “People’s Bid for TikTok,” aims to reshape the app’s future on an American-owned platform that prioritizes user privacy and digital...

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Indonesia has upheld its ban on the sale of Apple Inc.’s iPhone 16s, stating that the tech giant’s $1 billion investment plan, which includes the construction of an AirTag factory, is not sufficient to meet the country’s domestic content requirements. This decision emphasizes Indonesia’s firm stance on local production, highlighting a significant challenge for Apple in the Southeast Asian market. Domestic content rules: the stumbling block for Apple Industry Minister Agus Gumiwang Kartasasmita clarified on...

The visual content industry is witnessing a seismic shift as Shutterstock and Getty Images, two of the biggest players in the field, announce their merger. The combined entity, valued at $3.7 billion, will reshape the global visual media landscape, offering a vast portfolio of imagery, video, and music. This strategic move comes amid skyrocketing demand for diverse and engaging content across sectors like advertising, entertainment, and digital platforms. With the merger, the companies aim to...

Meta, the parent company of Facebook and Instagram, announced a series of significant changes this week, signaling a shift in its approach to both e-commerce and content moderation. On Wednesday, the company revealed plans to test integrating eBay listings into Facebook Marketplace, while on Tuesday, it announced the abandonment of independent fact-checkers, replacing them with a user-driven “community notes” system, similar to that of X. These moves come amidst ongoing regulatory scrutiny and evolving political...

US equity benchmarks were mixed on Wednesday as stronger than expected employment data raised concerns over future pace of rate cuts by the Federal Reserve.  At the time of writing, the Dow Jones Industrial Average was down 0.3%, while the S&P 500 index was little changed from the previous close. The Nasdaq Composite was also flat at the time of writing.  Sentiments were hit after CNN reported that President-elect Donald Trump is considering declaring a...

Quantum computing stocks like IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing were each down by more than a whopping 40% after Nvidia chief Jensen Huang’s comments that he did not expect quantum computers to be a reality any time soon. IonQ (IONQ) was down by 43.17%, Rigetti Computing (RGTI) by 46.25%, D-Wave Quantum (QBTS) by 47.70%, and Quantum Computing QUBT) by 46.14%. “If you kind of said 15 years for very useful quantum computers, that would probably...

It’s fair to say that, as far as US stock indices were concerned, last year ended on a whimper rather than a bang. Yet overall it was a fine performance for the US majors, which saw the broad-based S&P 500 gain 23% in 2024, following on from a 24% gain in 2023. This was the first time that the index had recorded 20%-plus advances for two years in succession since the Nineties when it recorded...

For decades, alcohol sales have provided restaurants with high-margin income, often accounting for up to 30% of total revenue in fine dining. Unlike perishable food items, alcohol offers a longer shelf life and lower labor costs, making it a financial cornerstone for eateries. However, US Surgeon General Vivek Murthy’s latest warning about alcohol as a preventable cause of cancer could amplify a growing shift in drinking habits, particularly among younger demographics. This has left restaurant...

Apple Pay users faced a frustrating disruption on Wednesday afternoon as the payment service, particularly Apple Cash, experienced widespread outages. Reports of the issue began surfacing around 1 p.m. EST, leaving many users scrambling to find alternative payment methods. The outage, which primarily impacted fund transfers and access to Apple Cash, sparked confusion and frustration among consumers relying on the platform for their transactions. According to DownDetector.com, a website that tracks online service outages, the...