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July 5, 2022, 11:25 AM
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Foo Yun Chee / Reuters:
EU lawmakers pass the Digital Services Act and the Digital Markets Act, seeking to regulate US tech giants, but limited resources could hamstring enforcement  —  EU lawmakers gave the thumbs up on Tuesday to landmark rules to rein in the power of tech giants such as Alphabet (GOOGL.O) …
Juro Osawa / The Information:
Sources: Sequoia Capital China is about to raise $9B for four new funds, above its $8B+ target, the largest amount raised by a single China tech-focused VC firm  —  Sequoia Capital's Chinese affiliate is about to close $9 billion in fresh capital for four new funds, higher than its original target …
Cristina Criddle / Financial Times:
Sources: TikTok abandons plans to expand its TikTok Shop live e-commerce program to Europe and the US, after internal problems and a lack of traction in the UK  —  Chinese-owned social media platform's foray into livestream shopping in the UK has struggled to gain traction
Munsif Vengattil / Reuters:
Source: Twitter is seeking to overturn some Indian government content takedown orders through a judicial review, alleging abuse of power by officials  —  Twitter is seeking to overturn some Indian government orders to take down content, a source familiar with the matter said …
Taylor Nicole Rogers / Financial Times:
Survey: 25% of Black American investors owned crypto at the start of 2022, compared to 15% of white investors, making them especially vulnerable to the downturn  —  Higher exposure to digital assets leaves owners vulnerable to downturn  —  The widespread losses caused by the cryptocurrency crash …
Lucas Shaw / Bloomberg:
Netflix, Amazon, Warner Bros., and others are cutting costs and scrapping TV shows at record rates; 559 scripted shows were released in 2021, up by 200+ on 2013  —  The sudden decline in Netflix's share price and the growing fear of a recession have forced Hollywood into a new period of fiscal austerity.
Sergiu Gatlan / BleepingComputer:
Google updates Chrome for Windows to address a high-severity zero-day vulnerability exploited by attackers in the wild, its fourth Chrome zero-day patch in 2022  —  Google has released Chrome 103..5060.114 for Windows users to address a high-severity zero-day vulnerability exploited by attackers …
Aaron Tilley / Wall Street Journal:
Synergy Research: Amazon, Microsoft, and Google accounted for 65% of the $53B in global cloud spending in Q1 2022, up from 52% in 2018  —  Three companies account for about two-thirds of cloud spending and are using their size to maintain their hold on rapidly growing market
Tweets: @jeffnolan
Paul MacInnes / The Guardian:
FIFA will introduce semi-automated offside technology at the 2022 World Cup, using 12 cameras and a custom soccer ball to track players and make offside calls  —  - Sensor in ball will send out location data 500 times per second  — Fifa claim average decision time will fall from 70sec to 25sec
Sarah Zheng / Bloomberg:
An unidentified hacker on a forum is selling 23TB+ of allegedly stolen data on up to 1B Chinese residents for 10 BTC, after breaching a Shanghai police database
Reuters:
French music streamer Deezer goes public via SPAC on the Euronext stock exchange, opening at €8.50/share before dropping ~27% to around €6.50  —  Shares of French music-streaming platform Deezer plunged as much as 35% on its first trading day, in a blow to telecoms maverick Xavier Niel …

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From Mediagazer

Jeremy Barr / The Guardian:
President Trump says Fox News “bears responsibility” for the GOP's losses after “constantly and consistently putting on the Dumocrat opposition, and worse”

Alex Weprin / The Hollywood Reporter:
As Democrats take the House and the Senate, David Ellison and other media executives are likely to face inquiries and hearings over their deals and Trump ties

The New York Times Company:
NYT reports Q3 revenue up 9.7% YoY to $768.5M, digital-only subscription revenue up 14.6% to $421.3M, and operating profit up 16.4% to $121.9M; NYT jumps 4%+

More News

Earlier Picks

Richard Lai / Engadget:
Xiaomi debuts the 12S Ultra smartphone with a 6.73" OLED screen and three rear cameras, including a 50MP main camera with a one-inch sensor, starting at ~$900
Manish Singh / TechCrunch:
Crypto lender and exchange Vauld pauses withdrawals, trading, and deposits and says it's exploring a restructuring, after users withdrew $197.7M+ since June 12
Meir Orbach / CTech:
Source: Celsius laid off 150 employees, around a quarter of its staff, after pausing withdrawals; Celsius is exploring “a restructuring of our liabilities”
Jane Clinton / The Guardian:
The British Army is investigating “a breach” of its Twitter and YouTube accounts, which on July 3 shared crypto scams and misinformation before being restored
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