The EU fined Google's parent company Alphabet €890 million for two Digital Markets Act violations: preferential treatment of its own products in search results and blocking Android developers from offering alternative payment options. Google has 60 days to comply or face further penalties.
Alphabet reported double-digit revenue growth and beat Wall Street's Q2 expectations, marking its 12th consecutive quarter of gains. The tech giant increased its capital expenditure forecast to $200bn, driven by massive AI investments, while facing intense competition from rivals like OpenAI and Anthropic.
Alphabet, Google's parent company, is developing a new server chip, 'Frozen v2,' for its in-house Gemini AI models, slated for a 2028 release. The chip aims for 6-10x efficiency improvement, addressing the need for better performance and reducing reliance on Nvidia amidst rising AI expenditures.
Telemundo's Spanish-language World Cup broadcasts, available via Peacock, have surprisingly drawn nearly half of US viewers, including many English speakers, surpassing Fox Sports' English coverage in viewership and critical reception due to its immersive style and fewer ads.
ProPublica revealed that FCC Commissioners Olivia Trusty and Brendan Carr accepted expensive gifts, including Kennedy Center gala tickets, from Paramount while the agency was reviewing its mergers. Ethics experts warn this poses a blatant conflict of interest, compromising the FCC's impartiality and potentially impacting the $110 billion Paramount-Warner Bros. Discovery merger.
Kraken Co-CEO Arjun Sethi highlighted Hong Kong's century-long role as an international business gateway, now being reshaped by stablecoins and blockchain into a 24/7 liquidity hub. Payward's recent US$600M acquisition of Reap Technologies signals expansion into Asia via Hong Kong.
New Frontier, the parent group of a Hong Kong fertility clinic, has apologized for an embryo biopsy specimen mix-up involving two patients. The clinic failed to report the incident promptly and has been ordered to submit a report on the causes and improvements. Investigations are underway by multiple authorities.
The English Football League (EFL) is investigating Sheffield United's owner, COH Sports, for allegedly forming a new parent company, 1919 Partners LLC, to avoid paying £35m owed to previous owner Prince Abdullah. Abdullah's representatives claim the restructuring is a tactic to evade payment, potentially violating EFL regulations.
Kraken's parent company, Payward, has been awarded $22 million in arbitration against its former auditor, Mazars USA, which withdrew from a nearly completed audit. Payward is seeking final judgment and used the case to call for new crypto legislation.
Payward, Kraken's parent company, secured a $22 million arbitration award against former auditor Mazars USA. Payward alleges Mazars withdrew from a 2022 audit without cause, contributing to a broader campaign against crypto firms.
Popular TV tracking app TV Time will cease operations on July 15, 2026. The company cited the expense of running the free platform and a lack of demand for a paid version as reasons, but a strategic shift towards AI by its owner, Whip Media, is the primary driver.
International Distribution Services (IDS) CEO Martin Seidenberg received nearly £7m in pay and bonuses, more than triple the previous year's amount, despite a 20% drop in group profits. The surge in pay is attributed to the £3.6bn takeover by Daniel Křetínský, triggering incentive awards.
SpaceX's $60 billion acquisition of Anysphere, parent company of AI coding startup Cursor, is set to significantly increase the net worth of co-founder Aman Sanger, who started coding at 14. The deal highlights Sanger's rapid rise, influenced by his entrepreneurial immigrant parents.
Snapchat's parent company, Snap Inc., is releasing new augmented reality glasses called Specs for £1,995 ($2,195) in the UK and US. The glasses, designed for everyday use with a 4-hour battery, offer AI assistance, web browsing, and AR gaming, but analysts question mainstream adoption due to the high price.
Yum Brands is selling its struggling Pizza Hut chain for $2.7 billion. LongRange Capital will acquire the US business for $1.5 billion, while Yum China will buy the mainland China operations for $1.2 billion. The sale aims to allow Yum Brands to focus on stronger-performing brands.
The US Department of Justice has approved the $111bn merger of Paramount Skydance and Warner Bros. Discovery, citing no harm to competition. However, regulatory reviews continue in the UK and Europe, with concerns about media consolidation and potential job cuts.
Meta has criticized Australia's proposed News Bargaining Incentive (NBI), calling it "poorly designed" and "grossly unfair." The tech giant argues the plan, which would levy digital platforms to fund media outlets, insulates publishers from necessary innovation and violates trade agreements.
OneRobotics, parent company of SwitchBot, has acquired smart lighting firm Nanoleaf for approximately $40 million. Nanoleaf will remain independent, with its CEO and COO continuing to lead operations. The acquisition aims to provide Nanoleaf with resources for growth and access to OneRobotics' manufacturing capabilities, while enabling SwitchBot to expand into smart lighting and retail.
Alphabet is raising up to $80 billion to fund its AI infrastructure expansion, with Berkshire Hathaway making a $10 billion investment. The move highlights the significant capital required for the AI race.
Google's parent company, Alphabet, plans to raise up to $80 billion in equity, including a $10 billion sale to Berkshire Hathaway, to fund its AI infrastructure. This move highlights the increasing capital demands of the AI boom and raises questions about future investor returns.
Google's parent company, Alphabet, announced plans to raise $80 billion through stock sales to fund its extensive AI infrastructure buildout. A significant portion, $10 billion, will be sold to Berkshire Hathaway. The company cited strong demand for AI solutions and the need to scale infrastructure to meet growth opportunities.
Alphabet, Google's parent company, announced plans to raise $80 billion through stock sales to fund its extensive AI infrastructure buildout. A portion of this will be a $10 billion sale to Berkshire Hathaway.
Alphabet, Google's parent company, announced plans to sell $80 billion in stock to fund AI infrastructure expansion. This follows Anthropic's confidential IPO filing and expectations for OpenAI's public listing. Elon Musk's SpaceX is also planning a major stock sale.
A Hong Kong court fined a defunct bakery chain HK$251,800 for unpaid wages and other entitlements exceeding HK$1.3 million. The liquidator stated the company has no assets to settle the fines.
