Samsung Electronics on Wednesday reported a 34.57 percent drop in operating profits for the fourth quarter of 2023, as the company struggles with weak demand for consumer devices. - Cash buffer - The company also reported its full-year profits for 2023 on Wednesday, with operating profit for the year at 6.56 trillion won, down 84.9 percent from the previous year, the Yonhap news agency reported.
Italy's competition authority on Thursday fined TikTok 10 million euros (nearly $11 million), saying the hugely popular video app had failed to sufficiently protect minors. The short-video app has soared in popularity worldwide, but its ownership by Chinese tech giant ByteDance -- and alleged subservience to Beijing's ruling Communist Party -- has fuelled concern in Western capitals.
China on Thursday slammed the approval of a US bill that would ban TikTok unless it severs ties with its Chinese parent company, blasting Washington's "bandit" mentality and vowing Beijing would "take all necessary measures" to protect the interests of its companies overseas.
At South by Southwest -- the gargantuan Texas festival for cinema, music and tech -- artists this year embraced virtual reality as a way to better connect with humanity, not escape it. "Today, we can program anything we want," she said, but "it takes human intelligence to be artistic, to find the right connections."
OpenAI on Wednesday announced partnerships with French daily Le Monde and Spanish conglomerate Prisa Media, saying it intends to develop news-related uses of its ChatGPT artificial intelligence tool.
TikTok creators voiced outrage Wednesday over proposed legislation that could scuttle the platform in the United States, saying it defies common sense and financial wisdom. "There is no sense of community on any other platform in comparison to what TikTok has created," King said.
Music streaming giant Spotify on Wednesday announced it would be posting music videos on its platform in "select markets", entering an arena long dominated by YouTube. Google's streaming behemoth YouTube has long dominated music videos online, with much of the platform's most-viewed content being music videos.
From its birth in a Beijing apartment 12 years ago, ByteDance grew into one of the world's biggest tech firms -- best known in most countries as the creator of TikTok. When asked during a US congressional hearing in March last year if a Chinese official was on the Beijing ByteDance Technology board, TikTok CEO Shou Zi Chew said "I believe so".
Beijing warned on Wednesday that a proposed ban on Chinese-owned video-sharing app TikTok would "inevitably come back to bite the United States". "In the end, this will inevitably come back to bite the United States itself," Wang said.
The US House of Representatives will vote Wednesday on a bill that would force TikTok to cut ties with its Chinese owner or get banned in the United States. TikTok staunchly denies any ties to the Chinese government and has restructured the company so the data of US users stays in the country, the company says. arp/mlm
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