Fintech
1. ASIC sues ASX over failed blockchain project
Australia’s corporate regulator is suing the Australian Securities Exchange (ASX) over allegedly misleading statements it made about the progress of a failed $250 million blockchain-based tech project. (ACS)
IT infrastructure
2. Indian EV maker Ola Electric’s Q1 hurt by subsidy cuts; break-even target close
India’s top e-scooter maker Ola Electric reported a bigger quarterly loss on Wednesday, hurt by subsidy cuts and a surge in depreciation costs, but said it was inching closer to breaking even in a key profit metric. (WTAQ)
3. Intel sells stake in chip designer Arm Holdings
Intel has sold its 1.18 million share stake in British chip company Arm Holdings, a regulatory filing showed. (CNBC)
4. California allows Chinese robotaxi firm WeRide to test driverless vehicles
China-based autonomous driving startup WeRide has received approval from California’s Public Utilities Commission (CPUC) to test its driverless vehicles with passengers aboard. (CGTN)
5. NIST launches new algorithms to defend against quantum tech threats
The National Institute of Standards and Technology (NIST), part of the US Department of Commerce, has unveiled three new encryption algorithms aimed at enhancing global cybersecurity in anticipation of future quantum technology threats. (Capacity.)
Tech trends
6. US judge says ‘monopolist’ Google can’t avoid app store reforms
A U.S. judge on Wednesday said he was planning to issue an order forcing Alphabet’s Google to give Android users more ways to download apps. (Westlaw Today)
7. Text-To-Speech Brain Implant Restores ALS Patient’s Voice
A man with amyotrophic lateral sclerosis (ALS) who had lost his ability to speak has been able to communicate with a Blackrock Neurotech text-to-speech brain implant, researchers said in one of two new studies showing the promise of brain-computer interfaces for restoring speech in paralyzed patients. (US news)
8. Shake Shack, Serve Robotics roll out autonomous sidewalk robot delivery in Los Angeles
Fast-food chain Shake Shack and Serve Robotics are partnering to use autonomous sidewalk robots to deliver orders placed on Uber Eats, the companies said on Wednesday. (Reuters)
9. US FTC Finalizes Ban on Companies Buying and Selling Fake Online Reviews
The U.S. Federal Trade Commission on Wednesday finalized a ban on companies knowingly buying or selling fake online reviews, giving the agency the power to levy fines against the shadowy practice. (US news)
10. Global banks’ tech revival sparks hope for $254 bln Indian IT sector
Global banks have started reviving the technology projects they put on ice in 2023, raising hopes for the $254 billion Indian IT sector that makes about a third of its revenue from banking, financial services and insurance (BFSI) clients. (Yahoo Finance)
AI
11. Hollywood union strikes deal for advertisers to replicate actors’ voices with AI
The SAG-AFTRA union has finalized a deal with Narrativ, enabling actors to license AI-generated voice replicas for advertisements. This agreement ensures actors get paid fairly and have control over their digital voices. (Economic Times)
12. Apple supplier Foxconn’s profit beats forecasts as it rides AI boom
Apple supplier Foxconn on Wednesday surpassed expectations with a 6% rise in quarterly net profit, driven by a boom in demand for AI servers, and stood by its forecast for full-year revenue to grow significantly. (Yahoo Finance)
13. US agency fines T-Mobile $60 million over data breaches
A powerful U.S. committee that scrutinizes foreign investment for national security risks fined T-Mobile $60 million. (Mint)
