News

Instagram Star Admits to Using Stock as Own Work

Instagram Star Admits to Using Stock as Own Work

Singapore-based photographer Daryl Aiden recently issued an apology after admitted to uploading stock image library content as his work. News site Mothership caught Aiden uploading images from Shutterstock, CanStockPhoto, Unsplash.com and other stock photo sites. Some were merely edited to alter their colour and composition. The popular Instagram photographer who already has more than 104,000 followers has already worked with brands such as Sony, Oppo, and Uniqlo.   On the issue, global technology editor for Campaign UK magazine Emily Tan remarked that no brand is completely safe when working with an influencer, just as no brand ambassador can be guaranteed […]

Four Ukranians Charged for Running Fake Cryptocurrency Exchanges

Four Ukranians Charged for Running Fake Cryptocurrency Exchanges

Ukrainian authorities announced this week that they have caught four suspects responsible for running six fake cryptocurrency exchanges. The police revealed that the criminals were highly skilled programmers and were able to create their own CMS-system for managing the content of exchange sites. Six exchanges had already been identified by the police as fake –  moneycraft.info, wowex.online, swapex.net, myexchanger.lv, iconvex.net, and likechange.biz. However, the Ukrainian National Police says that the list is not yet complete and there may be others more online. Source: Bleeping Computer

Consumer, Retail Companies Scramble to Buy Tech Startups

Consumer, Retail Companies Scramble to Buy Tech Startups

According to a mid-year review by the PricewaterhouseCoopers’ deals team, purchases of tech startups by the consumer and retail industry has accounted for around 32% of cross-sector deals involving tech. Some of the more notable acquisitions this year was Nordstrom’s purchase of a sales communications platform called BevyUp and a brands-to-customer texting service called MessageYes. Meanwhile, Gannett announced last May that it will be buying cloud-based digital marketing company WordStream for $130 million. PwC’s U.S. deals solutions leader and China inbound deals leader Curt Moldenhauer says that an increasing number of larger convergence deals that continue to blurring industry lines […]

Foxconn Calls US-China Trade War a “Tech War”

Foxconn Calls US-China Trade War a “Tech War”

Chinese electronics giant Foxconn said this week that the trade war China and the US are currently engaged in is more of a “tech war” that may be the biggest challenge the company has ever faced. The Taiwanese manufacturer, currently the biggest in the world, is likely to get hit if Washington puts 10% tariffs on around $200 billion worth of Chinese imports. However, chairman Terry Gou said the company’s high-level managers are already making various plans on how to cope and adapt. Experts also noted that the trade war between the two superpowers is likely to disrupt supply chains […]

Supreme Court Rules to Allow States to Collect Sales Tax from Online Retailers

Supreme Court Rules to Allow States to Collect Sales Tax from Online Retailers

In a landmark ruling last Thursday, the US Supreme Court decided that states may compel online retailers to collect sales taxes, which could potentially run up to billions. Justices voted 5-4 in a case involving Wayfair Inc, Overstock.com Inc and Newegg Inc, overturning a 1992 high court precedent that prohibited states from requiring businesses with no “physical presence” there, like out-of-state online retailers, to collect sales taxes. President Donald Trump, who has frequently bashed Amazon.com, exclaimed his approval of the decision and tweeted – “Big Supreme Court win on internet sales tax – about time!” Source: Reuters

JP Morgan to Launch AI-Powered Virtual Assistant for Corporate Payments

JP Morgan to Launch AI-Powered Virtual Assistant for Corporate Payments

JP Morgan Chase recently unveiled its plans to use a virtual assistant powered by artificial intelligence, said to be a first in the world of corporate payments. The machine, which is intended to answer customer queries and needs, is currently in its trial stages and is being trained using select clients. The investment banking firm says that it may be ready to release the AI assistant to more companies by next year. It is said that JP Morgan’s latest efforts towards automation will aid its operations in the treasury services division where it moves an average of $5 trillion daily […]

Instagram to Challenge YouTube with Long-Form Video

Instagram to Challenge YouTube with Long-Form Video

Facebook-owned Instagram announced this week that it has reached over a billion monthly active users and is looking to launch a long-form video hub called IGTV. CEO Kevin Systrom said that the mobile-focused video hub, which will be available on Instagram or as a standalone app, will initially be ad-free, but the company may leverage it in the future. Users are expected to spend more time on the app due to the longer video format, which can help Instagram increase its advertising profit. Systrom also assured that they have added more staff to help moderate the new content. Source: CNBC

EU Parliament Votes to Retain Copyright Rules

EU Parliament Votes to Retain Copyright Rules

The European Parliament last Wednesday voted in favor of keeping tougher copyright rules which could significantly restrict the market power of tech giants such as Google, Facebook, and Microsoft. Proposed two years ago, the EU’s Copyright Directive was intended to foist more responsibility on online platforms, forcing them to share profits with publishers as well as bear liability for copyright infringement online. The Parliament’s decision was said to have been lauded by copyright holders. However, dissenting lawmakers may still force a vote at the general assembly next month.   Source: Reuters

Tether Releases Official Report Confirming US Dollar Reserves

Tether Releases Official Report Confirming US Dollar Reserves

Cryptocurrency firm Tether announced this week that it had enough U.S. dollar reserves to back its virtual coins in circulation, as confirmed by a report from Washington-based law firm Freeh, Sporkin & Sullivan LLP. The report was made in response to investor doubts on whether the company actually has a dollar in reserve for every token that it issues. While the report was not a full audit of Tether, it did include sworn and notarized statements from two banks which attested that the company had approximately $2.55 billion in its accounts on June 1. It was noted however, that former […]

Google Accused of Supporting Chinese Communist Party Over Huawei Ties

Google Accused of Supporting Chinese Communist Party Over Huawei Ties

US lawmakers have criticized Google and asked it to reconsider its ties to Huawei, saying that it could pose a major security risk for American consumers. Both Democratic and Republican lawmakers urged CEO Sundar Pichai this week to think over its mobile messaging partnership with the world’s third-largest phone maker, especially after the search giant decided to stop working with the US government on an AI project which would have helped improve US military drone strikes.   The letter to Picha also expressed the government’s “disappointment” that the company was more willing to work with China’s Communist Party rather than […]