Companies across the global are pushing the advance of AI-based deep learning for facial recognition technology. The multi-billion dollar industry is seeing rapid adoption by China as it tries to enforce a rigid framework on its citizens much like its firewall which limits its citizens’ usage of the internet. On Wednesday, the SenseTime Group, a…
On October 17, the U.S. and China signed an agreement that allows regulators on both side to certify design, production and air worthiness of its airplanes parts and passenger jets. On Thursday, China’s aviation safety regulator stated it has recently signed an agreement with the U.S. aimed at streamlining the certification of aircraft parts and…
The loan is to refinance loans taken by Sprint and ARM for acquisitions. On Thursday, Japan’s SoftBank Group Corp said it has secured a $23.3 billion (2.65 trillion yen) loan agreement to re-finance the acquisition loans for British chip designer ARM and U.S. telecommunications Sprint Corp. The loans have a maturity date of Sept…
Japan’s No. 3 steelmaker is likely to face an onslaught of legal action, possibly even class-action lawsuits, over the falsification of data in its products which have affected nearly 500 companies. On Tuesday, Japan’s Kobe Steel Ltd has disclosed that U.S. authorities have requested access to the company’s documents related to tis data cheating scandal.…
The Equifax hack has affected 693,665 consumers in UK , 145.5 million in the U.S. and 8,000 in Canada. In yet another startling revelation, Equifax Inc said, 15.2 million records of its clients in Britain were compromised in the cyber attack that it suffered last month; this includes sensitive information affecting nearly 700,000 consumers. The…
While Switch had projected its listing price to be in the range of $14 to $16, it’s share price broke all expectations and was listed at $17, much to the cheer of investors. In a significant development, Switch Inc has raised $531.3 million from its initial public offering wherein it had priced its share at…
In a historic development, a U.S. senate panel has overwhelmingly approved a bill aimed at reducing the time gap before robotic self-driving cars are deployed on U.S. roads. In a development that will lend further momentum to automakers, a U.S. Senate panel has unanimously approved a bill aimed at speeding the deployment of self-driving vehicles…
Many large U.S. tech companies routinely transfer private EU citizen’s data without sufficient protection from U.S. mass surveillance. On Tuesday, in a case which has significant implication for many big companies, Ireland’s High Court stated it would ask EU’s top court to rule on the way in which internet companies, including Facebook, Apple and Google,…
The move mirrors similar announcements made by the U.S. and China where increased trading volumes of cryptocurrencies have sparked concerns. On Friday, South Korea’s financial regulator has stated it will ban the raising of funds through all forms of virtual currencies, including Initial Coin Offering, (ICO), in a move that mirrors China’s restriction on initial…
Financial misconduct by global banks, since the 2008 financial crisis, has led to the writing-off of $850 billion in profits for the world’s top 50 banks. As per a research report released on Wednesday, since the 2007-2009 financial crisis, European and U.S. regulators have imposed $342 billion in fines on banks, resulting from violations of…
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