Rejecting a petition filed by China’s ZTE Corp, the Federal Communications Commission (FCC) stated, the Chinese company continues to be a national security threat to the United States’ communications networks. In June, the FCC had designated China;s Huawei Technologies Co and ZTE as threats to national security and had bared the duo from accessing U.S.…
BMW AG has unveiled an electric sport utility vehicle (SUV), the BMW iX, which will go on sale in the United States in early 2022. The BMW iX will compete with Tesla’s Inc’s electric vehicle offerings. The car will have a drive range of 300 miles (480 km), less than the estimated driving range of the…
In a significant development, the Brazilian government said it has backed Washington’s push to build a global alliance of Clean Network that excludes technology companies that are manipulated by governments including China’s Communist regime. The development came in the wake of Keith Krach, U.S. Under secretary of state for economic growth, energy and environment, advising…
In a statement the U.S. Justice Department stated, it had seized more than $1 billion worth of bitcoin associated with the underground online marketplace Silk Road. The Justice Department is seeking the forfeiture of the bitcoins, which had been in the possession of an unnamed hacker who had stolen them from the “notorious” website. The…
In a significant development United Microelectronics Corp (UMC) stated, it has pleaded guilty to trade secret theft in the United States, and will be paying a fine of $60 million and will cooperate with the prosecution of China’s Fujian Jinhua Integrated Circuit Co Ltd. Two years ago, the U.S. Department of Justice (DOJ) had indicted…
In a response to a tweet, Tesla Inc’s CEO Elon Musk suggested that the carmaker is likely to foray into the Indian car market next year. Maharastra, India’s richest state, had invited the U.S. electric carmaker to invest in the country. In a tweet on Thursday, the state’s tourism and environment minister Aaditya Thackeray said,…
In a breaking development, U.S. tech giant Microsoft Corp stated, it had disabled by more than 90%, machines that were used by a gang of Russian-speaking cyber criminals to control a massive network of computers which had the potential to disrupt the 2020 U.S. Presidential election. The development was aided by a series of U.S. court…
In a significant development, Intel Corp has agreed to sell its NAND memory chip business to South Korea’s SK Hynix Inc for $9 billion. The all-cash deal will propel the South Korean chipmaker to the second spot in global rankings. The development marks Intel’s efforts to divest its non-core businesse and move away from the volatile commodity…
In a statement U.S. gaming platform Roblox Corporation said, it has confidentially filed for a IPO with the Securities and Exchange Commission. The development could potentially see the company doubling its recent valuation of $4 billion. Roblox did not respond to requests for comments on whether it has selected the traditional route for its IPO…
According to sources with knowledge of the matter at hand, Revolut, a digital banking app plans on applying for a bank charter with the Federal Reserve Bank of San Francisco and California’s Division of Financial Institutions within weeks. Although Revolut’s bank charter will be with California, it will allow the lender to operate widely throughout…
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