Zuckerberg and Meta board reach $8 billion settlement over data privacy
Meta states on its website that it has spent billions of dollars since 2019 to improve user privacy
PepsiCo beats earnings estimates with strong global demand
PepsiCo says it would rebrand Lay’s and Tostitos with no artificial colours or flavours by the end of the year
Gulf markets mostly rise on earnings boost, but Saudi index heads for eighth straight loss
Dubai hits 17-year high as Emirates NBD and Air Arabia rally; Saudi stocks drag amid banking, Aramco declines
Substack raises $100 million in Series C round, hits $1.1 billion valuation
Newsletter platform backed by Bond, Chernin Group, and Andreessen Horowitz as paid subscriptions surpass 5 million
South Korea’s top court clears Samsung’s Jay Y. Lee of fraud and stock manipulation
Supreme Court ruling removes long-standing legal hurdle as Lee regains focus on steering Samsung through global AI chip race and semiconductor challenges
U.S. House advances crypto bills after Trump meets with Republicans
The House is also set to consider a second bill that outlines market structure rules for crypto products
Austrian privacy group files privacy complaints against AliExpress, TikTok, WeChat
Noyb files complaints against Chinese tech firms for not providing full user data access as required under European Union law
Australia’s unemployment rate climbs to 4.3% in June, highest since November 2021
Full-time jobs fall by 38,200 in June, and hours worked drop by 0.9%
OpenAI adds Google Cloud to its list of infrastructure partners
The agreement with Google marks another step in OpenAI’s efforts to diversify its sources of cloud infrastructure
Japan’s exports fall for second straight month in June
Exports fall 0.5% year on year in June, while shipments to the U.S. drop 11.4%, marking the biggest monthly decline since February 2021
Trump says no broader trade deal is expected with Japan
Trump says U.S. would “live by the letter” on this move and made no indication of further negotiations for a larger agreement
Judge rules Amazon can show ads on Prime Video with fee
A proposed class action claims Amazon broke its promise of an ad-free Prime Video by adding a $2.99 fee to remove ads, despite a $139 annual subscription
U.S. telecom regulator plans to block undersea cables with Chinese technology
The agency says the move is part of broader efforts to protect U.S. communications infrastructure from foreign control and security risks
Microsoft trains AI on past data to aid nuclear licensing process
The project uses AI to generate engineering and safety reports needed for construction permits and operating licenses
Tesla prepares to launch six-seater Model Y L in Chinese market
Tesla shares a teaser on its China Weibo account showing a side profile of the new model, along with the caption, 'Model Y L, see you in the fall'