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Topic: economy

The case being argued is that Amazon is a monopoly and is using its dominance to prevent competition from flourishing in the marketplace. (AP) News 

FTC Faces Lengthy and Difficult Road Ahead with Amazon Antitrust Lawsuit

Jim Hendler, , , , , , , ,

With a lawsuit looming over its operations, Amazon is approaching Prime Day, one of its largest sales events of the year. The lawsuit alleges that the company is obstructing sellers from offering their products at lower prices on alternative platforms. The Federal Trade Commission’s long-awaited antitrust case is the agency’s most aggressive move yet to curb Amazon’s market power. The company has become synonymous with online shopping and fast deliveries. Under Chairman Lina Khan, the agency has not been shy about taking big swings at some of America’s biggest companies…

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Nandan Nilekani, Chairman and Co-Founder of Infosys and Founding Chairman of UIDAI (Aadhaar), addresses the gathering on the third day of the three-day B20 Summit in New Delhi on August 27, 2023. (AFP) News 

Nandan Nilekani Advocates for Utilizing Digital Public Infrastructure to Address Climate Change

Adarsh V.K

On Sunday, Nandan Nilekani, Chairman and Co-Founder of Infosys and founding Chairman of UIDAI, stated that the widely recognized Digital Public Infrastructure approach can also contribute to climate adaptation and mitigation efforts in the future. Speaking at the B20 India Summit organized by CII, Nilekani further said that India has found a “balance” between responsible regulation and innovation through its inclusive model as he showcased the country’s success story in digital public infrastructure (DPI), which has gained momentum. incorporation into the country. India’s DPI is gaining global recognition, Nilekani said,…

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Arvind Krishna addresses the gathering on the first day of the three-day B20 Summit in New Delhi. (AFP) AI 

IBM CEO Arvind Krishna Believes AI Can Enhance Productivity for All

Febin Mathew,

IBM, a tech company with a long-standing history predating the fame of Apple and Google, is currently led by CEO Arvind Krishna, who hails from India. As artificial intelligence gains widespread attention from policy-makers, entrepreneurs, and the general public, Krishna has made noteworthy remarks. Speaking on Friday, Krishna said he was very “excited” about AI’s power to boost productivity, which could help businesses and even economies grow faster – yesterday an Australian official said AI has the power to grow the country’s economy many times over. Australia’s Productivity Commissioner Michael…

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A boom in deepfake porn is outpacing US and European efforts to regulate the technology. (AFP) AI 

Google and Microsoft Take Steps to Enhance AI-Generated Fake Porn

Adriana Marais, , , , , , , , , , ,

Fans of Kaitlyn Siragusa, a well-known internet personality called Amouranth, can choose to subscribe to her channel on Amazon.com Inc.’s Twitch for $5 per month to watch her play video games. Alternatively, if they wish to view her adult content, they can subscribe to her explicit OnlyFans page for $15 per month. And when they want to watch him do things he doesn’t and has never done for free, they search Google for so-called “deepfakes” — videos made with artificial intelligence that create a realistic simulation of a sexual act.…

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The company cited strong growth in all regions and among younger Gen Z listeners. (Dado Ruvic/REUTERS) News 

Gen Z listeners help Spotify exceed expectations

Febin Mathew, ,

Spotify Technology SA, the audio streaming platform from Sweden, exceeded analyst predictions in its second-quarter performance as the number of its active users surged by 27% to reach 551 million. The company cited strong growth across all regions and among younger Gen Z listeners. The number of premium subscribers increased by 17 percent to 220 million, the company said in a statement on Tuesday. That beat the 217.1 million average of analyst estimates compiled by Bloomberg. Turnover, EUR 3.18 billion, fell slightly short of expectations. The company’s adjusted operating loss…

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Apple to support social enterprises in a 12-week program to promote clean energy innovation along with Acumen. (AP) News 

Apple Teams Up with Acumen to Advance Clean Energy Solutions in India

Adriana Marais,

Apple is set to enhance its social efforts in India by promoting clean energy innovation. The renowned technology company has partnered with Acumen, a worldwide non-profit organization, to launch an initiative that seeks to improve the lives of impoverished individuals while also prioritizing environmental conservation. Acumen has developed a 12-week program called Energy for Livelihoods Accelerator, specifically designed for social entrepreneurs, which will commence in September. “Apple is committed to helping ensure that everyone can share in the benefits of a greener economy. We demonstrate the transformative potential of clean…

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The digital economy is now growing faster than the economy (Pexels) News 

Report Predicts India’s App Economy to Reach $792 Billion by 2030

Adarsh V.K,

According to a report commissioned by Broadband India Forum, the app economy in India is projected to reach USD 791.98 billion by 2030. This growth is expected to contribute 12 percent to the country’s estimated GDP of USD 6.59 trillion. The report, co-authored by ICRIER Senior Visiting Professor Rekha Jain and IIM Ahmedabad Professors Viswanath Pingal and Ankur Sinha, is based on the assumption that the app economy will grow at 2.5 times the GDP growth rate from 2030 onwards. The researchers defined the app economy as the economic activity…

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NASA has supported a continuous U.S. human presence in low Earth orbit with astronauts on the the International Space Station. (REUTERS) Space 

NASA Teams Up with Seven Companies to Meet Commercial and Government Space Needs

Adriana Marais, , , ,

NASA has intensified its partnership with private companies to cater to its expanding commercial and government needs. The agency has enlisted the services of seven firms, including Blue Origin led by Jeff Bezos and SpaceX led by Elon Musk. The primary objective of this collaboration is to enhance human spaceflight and boost the US commercial low Earth orbit economy. Notably, these space law contracts are unfunded. Another initiative, Collaborations for Commercial Space Capabilities-2 (CCSC-2), is also designed to advance commercial space-related efforts. This is done at NASA by sharing technical…

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