It is another Friday. And, we know you’re pumped up to step back from work and get some good rest.
As you prepare for all of that, we believe it’s important to share Global Roundup with you. Because we understand you’re busy, we’re bringing back exciting updates across the globe that you missed during the week.
From iPhone 14 launch to Twitter facing new rounds of scrutiny from the SEC for spam accounts calculation. If you have missed out on the news stream this week, don’t worry. We’ve got you covered.
Here is a roundup of major tech news from across the world this week:
Related also: Musk wins Twitter in court as Bolt limits operations in Tanzania
iPhone 14 Launches Sept. 7
This week, Apple Inc. announced plans to hold a launch event on Sept. 7. At the event, the tech giant plans to unveil the anticipated iPhone 14 lineup and its next slate of smartwatches, This was according to a report by Bloomberg News.
Rumours suggest the new iPhone lineup will ditch the Mini in favour of a new Max model. The new release is also rumoured to come as iPhone 14 Pro and iPhone 14 Pro Max and there is the possibility of a potential price increase by about $100 over the last edition.
Apple may also have plans to excise the iPhone 14’s notch in favour of a hole-and-pill-shaped front camera, at least for the Pro models.
In addition to the iPhone 14, Apple may also use the event to unveil the Apple Watch Series 8, which will reportedly look similar to last year’s model but have more health features such as a fever sensor, as well as improved durability.
Twitter Is Facing Fresh Scrutiny
Twitter Inc. faced scrutiny from the US Securities and Exchange Commission in June over how it calculates the number of spam and bot accounts on the platform.
The SEC’s filings review unit asked Twitter Chief Executive Officer Parag Agrawal in a June 15 letter for details on the firm’s methodology for calculating that false accounts that it said represents less than 5% of its user base.
The estimate by Twitter has become a central sticking point between the company and Elon Musk, who is looking to walk away from a $44 billion buyout of the platform.
“To the extent material, please disclose the methodology used in calculating these figures and the underlying judgments and assumptions used by management,” the SEC said in the letter to Agrawal, referring to assumptions that Twitter included in its annual report. The letter was made public on Wednesday.
In response, Twitter’s lawyers told the SEC on June 22 that it “already adequately discloses the methodology” that it uses. The company said that it randomly selects thousands of accounts to be reviewed by people each quarter and has done so for many years.
The SEC also posted a July 27 letter noting that it had concluded its review. “We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff,” the commission wrote.
Coinbase to make more cuts
As crypto exchange Coinbase faces industry challenges and economic headwinds, the company is taking a close look at where it can cut costs, CEO Brian Armstrong told CNBC’s Kate Rooney.
CNBC reports that Coinbase shares have lost more than 70% of their value this year as the company has grappled with a “crypto winter” tied to the plummeting of Bitcoin and Ethereum. Armstrong said the downturn is not unusual, as Coinbase has been through four down cycles in the 10 years since he started the company.
Coinbase is facing inflationary pressures and a potential recession, but Armstrong said the macro environment is reminiscent of what the company has dealt with in the past.
“We have this saying internally, I like to repeat a lot, which is you know, it’s never as good as it seems, it’s never as bad as it seems,” he said. “I think one of the reasons Coinbase has been so successful in the last 10 years is we just we try not to get focused on short-term ups and downs.”Coinbase CEO, Brian Armstrong
Google faces new troubles in France
Google is facing a fresh privacy complaint in Europe over ads it inserts into its Gmail email service in the guise of emails, TechCrunch reports.
Privacy advocacy group, Noyb, has filed a complaint with France’s data protection watchdog, the CNIL, claiming the tech giant has breached the European Union’s ePrivacy directive on direct marketing by failing to gain consent from Gmail users for the ads it displays inside their inboxes, alongside promotional emails they have actually signed up for.
Noyb’s complaint cites a ruling by the EU’s top court last year, in a separate case related to the use of email for direct marketing, which it argues makes it plain that ads which are displayed inside a user’s inbox constitute “a use of electronic mail for the purposes of direct marketing” — which, under ePrivacy rules, requires user consent.
(The Gmail advertising emails only distinguish themselves from genuine emails users have signed up for by the inclusion of an ‘ad’ label and the lack of a date stamp.)
The complaint asserts that Gmail users did not consent to be spammed with Google’s ads — noting that, under ePrivacy, consent would have needed to be obtained prior to the ads being displayed in their inboxes.
Jack Dorsey becomes Musk’s latest target
Elon Musk has subpoenaed friend and former Twitter CEO, Jack Dorsey in the latest development in the smouldering legal battle over the acquisition of the social-media company.
According to Bloomberg, the filing with Delaware’s Court of Chancery was just the latest in what has been a steady flood of document requests between the two sides – Musk and the company – ahead of an October trial that will end up deciding whether Musk is forced to follow through on the $44B acquisition of the company to which he agreed.
Many of the discovery filings in the case have been under seal. But both sides have expanded the list of subpoenas to include a wide cast of characters that also now includes Holocene Advisors, D.E. Shaw, and Discord.
This is likely a part of Musk’s attempts to get hold of messages about the deal (along with seeking documents from Signal and iMessage).
Twitter stock is down 2.1% Monday to $43.06, now about a 21% discount from Musk’s committed deal price of $54.20 per share.
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