YOUR WEEKLY TECH INSIGHT FROM ACROSS THE GLOBE
|
|
|
|
Britain’s anti-competition regulators have been tasked with investigating Microsoft and Amazon’s dominance of the cloud computing market.
Media watchdog Ofcom on Thursday referred its inquiry for further investigation to the Competition and Markets Authority, kickstarting the process.
Difficulties in switching
Ofcom said that it had identified features which make it more difficult for U.K. businesses to switch cloud providers, or use multiple cloud services, and that it is “particularly concerned” about the position of market leaders Amazon and Microsoft.
AWS and Microsoft Azure are the biggest players in the market. AWS’ cloud solution is primarily targeted at startups, while Microsoft prioritizes big enterprises. AWS and Microsoft Azure account for roughly 60% to 70% of cloud spend, according to an Ofcom estimate.
‘Egress fees’
Ofcam said that so-called “egress fees” charged by cloud vendors like Amazon and Microsoft make it tougher for businesses to move their data between providers, or to “multi-cloud” by using multiple cloud providers. Egress fees are charges for cloud companies to remove the data of firms from a cloud environment.
The regulator also said that cloud companies have introduced “technical barriers” to interoperability — the ability of different cloud platforms and services to work together and exchange data without any barriers or disruptions.
“I think what we’d like to see is a fair playing field for competition in the market, and I think that’s all about making sure that the business customers who rely on the cloud can switch and use multiple providers easily,” Fergal Farragher, Ofcom’s director responsible for the market study, told CNBC’s “Squawk Box Europe” on Thursday.
» Read More
|
|
|
Cryptocurrency company Ripple said on Wednesday that it has obtained a major payments institution license in Singapore, a strategic step toward growing its presence in the Asia-Pacific region.
The new development comes less than four months after the Monetary Authority of Singapore granted an initial in-principle approval in June. With the full license, Ripple will continue to provide regulated crypto payment services in Singapore.
Leading crypto regulation in the region
Singapore has led crypto regulation in the region. The country’s Payment Services Act — which regulates payment services and the provision of crypto services to the public — has been in effect since January 2020.
The city-state has also stepped up scrutiny on crypto firms. It ordered crypto service providers to safekeep customer assets under a statutory trust before the end of 2023. It also restricts such firms from facilitating lending or staking of their retail customers’ assets.
Ripple effects
“Over 90% of Ripple’s business is outside of the U.S., and Singapore – and to a larger degree Asia Pacific – is one of its fastest growing regions,” the company said.
In the U.S., however, Ripple and Coinbase are embroiled in lawsuits with the Securities and Exchange Commission. The SEC charged Ripple and its founders in 2020, alleging they illegally sold its native cryptocurrency XRP without first registering it with the SEC. But in July, a landmark ruling determined the token was not, in itself, necessarily a security.
Ripple said it will continue to prioritize Asia-Pacific for adoption of its crypto payment services.
» Read More
|
|
|
 e=gjjtuyu768@gmail.com&p=32941663&stpe=static” border=”0″ style=”max-height:12px;” /> |
 |
 |
 |
|
|
|
TikTok Indonesia said it will end transactions on its e-commerce marketplace by Thursday, in order to comply with new local regulations.
The announcement comes after the Indonesian ministry of trade last week set a one-week deadline for TikTok to become a standalone app, without any e-commerce feature, or risk being shut down.
Remaining compliant
“Our priority is to remain compliant with local laws and regulations,” said TikTok in a statement on Tuesday.
“We will no longer facilitate e-commerce transactions in TikTok Shop Indonesia by 17:00 GMT+7, October 4, and will continue to cooperate with the relevant authorities on the path forward,” it said.
Indonesia is TikTok’s largest Southeast Asian market and second-largest market globally with 125 million users after the U.S., according to the company.
Impulse buys on TikTok
Sachin Mittal, head of telecom, media and technology research at DBS Bank, previously said that TikTok “operating as a standalone app may still be challenging.”
He explained logging into a separate app might lead to a sharp drop-out rate as most purchases on TikTok are impulse buys.
» Read More
|
|
|
Meta is considering charging its European users nearly $14 a month for an ad-free version of Instagram if they do not agree to let the company use their personal data for targeted ads, according to a report from The Wall Street Journal.
‘Subscription no ads’
The proposal, which would cost users around $14 a month on mobile devices and as much as $17 on a desktop, is Meta’s attempt to navigate strict privacy rules in the European Union. The rules will require Meta to get users’ consent in order to show them targeted ads, which would likely have an adverse impact on the company’s advertising revenue.
Meta has spoken with digital-competition regulators in Brussels, privacy regulators in Ireland and other EU privacy regulators about its proposal, according to the report. The company has reportedly named the plan “subscription no ads,” or SNA, and it wants to start rolling it out in the coming months.
Since the privacy rules do not apply to the U.S., it is unlikely that Meta would introduce SNA there.
Prices still tentative
It is not clear whether regulators believe Meta’s proposal is a sufficient workaround, according to the report, and they may ask the company to propose a cheaper offering.
“Meta believes in the value of free services which are supported by personalized ads. However, we continue to explore options to ensure we comply with evolving regulatory requirements. We have nothing further to share at this time,” a Meta spokesperson told CNBC Tuesday.
» Read More
|
|
|
 e=gjjtuyu768@gmail.com&p=32941663&stpe=static” border=”0″ style=”max-height:12px;” /> |
 |
 |
 |
|
|
|
‘Generative AI’ and its life beyond ChatGPT
|
Generative artificial intelligence (AI) has exploded in popularity thanks to the viral chatbot developed by OpenAI called ChatGPT. But beyond creating poetry or answering questions, generative AI could have a big impact on industries from marketing to medicine.
|
|
|
© 2023 CNBC LLC. All rights reserved. A property of NBCUniversal.
900 Sylvan Avenue, Englewood Cliffs, NJ 07632
Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis.
Data also provided by THOMSON REUTERS
|
|
|
 e=gjjtuyu768@gmail.com&p=32941663&stpe=pixel” width=”2″ height=”6″ border=”0″ /> |
 e=gjjtuyu768@gmail.com&p=32941663&stpe=pixel” width=”2″ height=”6″ border=”0″ /> |
 e=gjjtuyu768@gmail.com&p=32941663&stpe=pixel” width=”2″ height=”6″ border=”0″ /> |
 e=gjjtuyu768@gmail.com&p=32941663&stpe=pixel” width=”2″ height=”6″ border=”0″ /> |
 e=gjjtuyu768@gmail.com&p=32941663&stpe=pixel” width=”2″ height=”6″ border=”0″ /> |
|
|
|
|
