REDMOND, Wash.—Microsoft on Tuesday reported a 9 percent increase in profit for the January-March quarter, as growth in cloud computing sales helped bolster its plans to expand its use of artificial intelligence. The company reported quarterly profit of $18.3 billion, or $2.45 per share, beating Wall Street expectations for earnings of $2.24 a share. The…
UK Blocks Microsoft’s $69 Billion Activision Deal Over Cloud Gaming Concerns
April 27, 2023
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LONDON—Britain will block Microsoft’s $69 billion acquisition of “Call of Duty” maker Activision Blizzard over concerns it would hinder competition in cloud gaming, dealing an unexpected blow to the biggest-ever deal in gaming. The country’s antitrust regulator said on Wednesday that Microsoft’s commitment to offer access to Activision’s multi-billion dollar “Call of Duty” franchise to…
Small Businesses Attempt to Hire Layoffs From Big Tech
April 27, 2023
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Layoffs at American tech companies have become an opportunity for small businesses, as highly skilled workers look for new work. Small businesses with less than 250 workers employed 58 percent of the total workforce in 2020, according to the U.S. Census. Tech startups have posted far more job offers than Big Tech firms in recent…
Musk Discusses Artificial Intelligence With Schumer on Capitol Hill
April 27, 2023
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Tesla CEO Elon Musk met with Senate Majority Leader Chuck Schumer (D-N.Y.) on Capitol Hill on April 26, and the two talked about artificial intelligence (AI) and electric vehicles. “We talked about the future,” Musk told reporters after finishing his meeting, which lasted about an hour. “We talked about AI and the economy.” Schumer told…
US Regulators Say They Already Have Power to Crack Down on AI Misuse, Warn Firms to Comply With Laws
April 26, 2023
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A number of federal government agencies said on April 25 that they have the power to prevent unlawful “bias in algorithms and technologies” marketed as artificial intelligence (AI). In a joint statement, four federal agencies —The Civil Rights Division of the United States Department of Justice, the Consumer Financial Protection Bureau (CFPB), the Federal Trade…
Software Engineers Face Layoffs as Tech Industry Begins Cutbacks
Software engineers face increasing prospects of being laid off as the tech industry begins downsizing due to economic uncertainties. Tech work was once considered a safe bet regarding job security, with many people encouraged to “learn to code” over the past two decades. Vox reported on April 21 that a trickle of layoffs in the tech industry…
EU Singles Out 19 Tech Giants for Online Content Rules
BRUSSELS—Five Alphabet subsidiaries, two Meta Platforms units, two Microsoft businesses, Twitter, and Alibaba’s AliExpress are among 19 companies subject to landmark EU online content rules, EU industry chief Thierry Breton said on Tuesday. The rules known as the Digital Services Act (DSA) require the companies to do risk management, conduct external and independent auditing, share…
Hyundai Motor Bolsters US Presence With $5 Billion EV Battery Venture
April 25, 2023
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SEOUL0—South Korea’s Hyundai Motor Co. said on Tuesday it had finalized a $5 billion electric vehicle (EV) battery joint venture in the United States, boosting electrification efforts in its largest market. Hyundai also reported its first-quarter net profit had more than doubled, exceeding expectations. Its shares rose as much as 5 percent to a seven-month…
IN DEPTH: Elon Musk’s Dream to Bring Affordable Internet to Africa Stymied by Political Roadblocks and Greed
JOHANNESBURG, South Africa—Elon Musk’s promise to provide cheaper, faster, and more reliable internet in Africa is proving to be very difficult to keep, even for someone as famously indefatigable as he is. The business magnate and super-investor is the founder and chief engineer of SpaceX, CEO of Tesla, and owner of Twitter, but he’s struggling…
UK Targets Subscription Traps and Fake Online Reviews With New Law
April 25, 2023
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Digital platforms could be hit with huge fines for failing to protect consumers from subscription traps and online scams, a new UK regulator has said. The Digital Markets Unit (DMU) will be given new powers to ensure that online customers and businesses are not unfairly disadvantaged by the biggest players. Firms deemed to have “strategic…
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