Techmeme
July 29, 2022, 3:05 PM

Top News

Leah Nylen / Bloomberg:
Sources: Lina Khan overruled FTC staff to sue Meta over its Within acquisition; the FTC didn't take sworn interviews of company execs in the nine-month inquiry  —  Federal Trade Commission Chair Lina Khan led her fellow Democrats in the agency's majority vote to sue Meta Platforms Inc. this week …
Cecilia Kang / New York Times:
FTC chair Lina Khan's attempt to block Meta's Within acquisition upends decades of antitrust standards and may shift how DC enforces competition in nascent tech  —  Lina Khan may set off a shift in how Washington regulates competition by filing cases in tech areas before they mature.
Richard Lawler / The Verge:
A Delaware judge rules that Twitter's case against Elon Musk for attempting to exit his $44B takeover will go to trial from October 17 to October 21, 2022  —  Everybody's going to the Court of Chancery  —  We have a schedule for the Delaware Court of Chancery trial over T witter's lawsuit …
Apple:
Apple reports record Q3 revenue of $83B, up 2% YoY, vs $82.8B est., net income down 11% to $19.4B, iPhone revenue up 3% to $40.7B, Mac revenue down 10% to $7.4B  —  iPhone and Services drive June quarter record revenue  —  Active installed base of devices reaches all-time high for all major product categories
Reuters:
Kif Leswing / CNBC:
Joseph Cox / VICE:
Canadian coffee chain Tim Hortons proposes offering customers a free hot drink and baked good as a settlement for collecting their location data for over a year  —  The wholesome Canadian chain caused a scandal when its privacy violation was revealed, and now it's proposing a free coffee and a baked good as restitution.
Olivia Solon / Bloomberg:
Sources: a Chinese government PR unit asked for a stealth TikTok account targeting Western audiences with propaganda; TikTok declined the “sensitive” request  —  A Chinese government entity responsible for public relations attempted to open a stealth account on TikTok targeting Western audiences …
Abner Li / 9to5Google:
Amazon plans to shut down Drive, its cloud storage service launched in March 2011, at the end of 2023 to focus “on photos and video storage with Amazon Photos”  —  In an email to customers this morning, Amazon announced that its “Drive” cloud storage service is shutting down at the end of 2023.
Pete Schroeder / Reuters:
US banking regulators order Voyager Digital to cease and desist from making “false and misleading” claims that its customers' funds were insured by the FDIC  —  U.S. banking regulators have ordered crypto firm Voyager Digital to cease and desist from making “false and misleading” …
David E. Sanger / New York Times:
As Congress debated the $280B CHIPS Act for 13 months, China's semiconductor industry surged ahead, making a 7nm chip that may be based on, or stolen from, TSMC  —  While Congress argued over whether and how to support American chip makers and research in other technologies China was surging ahead.
Richard Lawler / The Verge:
In an email to Twitter Blue subscribers, Twitter says it is increasing the price of the service; in the US, the price will jump from $2.99 to $4.99 per month  —  Who would pay for Twitter?  —  People frequently express their amazement that Twitter is free, but for some people, it isn't …
Paul Alcorn / Tom's Hardware:
Intel is winding down its Optane memory business, incurring a $559M inventory impairment; Optane is the sixth non-core business Intel CEO Pat Gelsinger has sold  —  3D XPoint at the last crossroad.  —  Intel's Q2 2022 earnings report today was uncharacteristically disappointing …
Jordan Novet / CNBC:

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