FCA bets $788 million on electrifying its iconic 500 compact car

FCA plans on launching the 500 BEV first in European markets. Production will commence in the second quarter of 2020. With Fiat Chrysler moving on following its failed bid to merge with France’s Renault, the carmaker announced it plans on investing $788 million (700 million euros) to create an electric makeover of its iconic Fiat…

Japan Display secures funding from investors led by China’s Harvest Group

Japan Display, which depends on Apple Inc for the bulk of its revenues, has secured a funding bailout. The development was not announced earlier. On Friday, in a significant development Japan Display Inc stated, a group of investors led by China’s Harvest Group, an investment firm, had provided $738 million (80 billion yen) in funding…

Online platforms should be held responsible for social media content: IBM

IBM has proposed changes to Section 230 of the Communications Decency Act (CDA 230). If its proposals are incorporated into law, they will materially impact social media companies including Facebook, Facebook’s WhatsApp and Instagram as well as Alphabet Inc’s YouTube, to name a few. In a significant development, International Business Machines (IBM) Corp has proposed…

ZTE follows Huawei’s footsteps, opens cybersecurity lab in Brussels

Huawei and ZTE are striving to increase transparency regarding their products in order to mitigate allegations of espionage. It is not clear whether these lab tests will cover re-routing of data through servers located in China, thus compromising unencrypted data. In a significant development, embattled Chinese telecom vendor ZTE opened a cybersecurity lab in Brussels,…

U.S. companies can sell non-blacklisted items to Huawei: U.S. Commerce Department

According to the U.S. Commerce Department, general merchandise with no “national security influences or consequences” can be sold to Huawei, which continues to remain in the Entity List. In a significant development, the U.S. Commerce Secretary Wilbur Ross stated, the U.S. government will issue licenses to companies seeking to sell goods to China’s Huawei where…

SEC issues guidelines for holding digital asset securities

This is likely to pave the way for traditional investors to hold more digital asset securities. In a significant development, midst enquiries requesting clarity on holding digital assets with regard to federal securities law, the U.S. Securities and Exchange Commission (SEC) has issued a notice on broker-dealer custody of digital asset securities. As per the…