UK may emulate US ban on China tech investments

Aug10
by on August 10, 2023 at 10:00 am
Posted In: UK


On Wednesday, US President Joe Biden unveiled an executive order banning new investments in certain tech sectors in China, citing security risks. The order is set to come into effect next year, and the US will be waiting to see if its closest ally will follow suit. However, for now, the UK says it will consider the measures taken by its transatlantic partner, as it continues to evaluate security implications. “This executive order on outward investment gives important clarity on the US approach,” a spokesperson for the government said in a statement shared with the Financial Times earlier today. “The…

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TSMC to enter ‘Silicon Saxony’ with €10B chip plant

Aug09
by on August 9, 2023 at 12:45 pm
Posted In: Uncategorized


In a pivot toward Europe, Taiwanese chipmaker TSMC decided yesterday to invest in a €10bn chip factory in Germany.  With Taiwan under mounting pressure from Beijing to submit to mainland China authority, politicians — and customers — are increasingly concerned about disruptions to semiconductor supply chains. As such, the Taiwanese producer is looking to geographically diversify its dominant computer chip industry.  Taiwan Semiconductor Manufacturing Corporation, or TSMC, produces most of the chips in Taiwan. In turn, the East Asian island makes over 60% of the world’s semiconductors, and 90% of the most advanced ones.   On the other side of the equation,…

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Norway fines Meta 1 MILLION crowns per day over data harvesting for behavioural ads

Aug08
by on August 8, 2023 at 12:57 pm
Posted In: Uncategorized


Meta’s litany of European privacy sanctions in 2023 just got a little longer. After a €390mn fine for illegal personalised ads, another €5.5mn hit for similar violations in WhatsApp, and a GDPR record €1.2bn for unsafe data transfers, this week yet another punishment arrived — and the sentence did not disappoint. Norwegian regulators have demanded a gloriously round figure that would make Dr Evil proud: 1 MILLION crowns (€89,000) per day. The penalties are due to begin on August 14, but Meta wants a temporary injunction against the order, Reuters reports. The ruling follows news last month that Norway will temporarily…

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Aerospace tech company to issue contrail reduction ‘credits’

Aug07
by on August 7, 2023 at 12:57 pm
Posted In: Insider


UK-based aerospace software startup ZEROAVIA announced today that sustainability certification body Gold Standard has approved its methodology concept to issue what could be referred to as “contrail credits.”  Rather than offsetting carbon emissions directly (like carbon credits), they will offer an avenue for airlines to “make up” for the warming effects equivalent to that of carbon dioxide, by mitigating the non-CO2 climate impact of air travel.  Everyone knows that aeroplanes emit copious amounts of CO2 (whether that causes any changes to our flying habits is another matter). However, aviation’s climate impact goes far beyond carbon dioxide.  Research has found that…

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Adopting robots makes profits drop before they rise, study finds

Aug04
by on August 4, 2023 at 2:23 pm
Posted In: Future of Work, Insider


As demand for industrial robots surges, new research suggests the rewards are slow to materialise. According to the Cambridge University study, robots typically cause early losses before they can yield a payoff. The researchers analysed industry data across 25 EU countries between 1996 and 2017. They found that when adoption levels are low, robots can have a negative effect on profit margins. As the uptake increases, however, automation drives the profits higher. This U-shaped effect was attributed to the integration process. At first, businesses using robots typically tend to focus on streamlining operations — an expensive and laborious task. But when automation…

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