Posts with «author_name|mariella moon» label

FTC set to keep a closer eye on smaller acquisitions made by tech giants

FTC Chair Lina Khan wants the commission to identify potential loopholes in its merger reporting guidelines that allowed some acquisitions to "fly under the radar," according to CNBC. That's one of the FTC's key takeaways after completing its inquiry into the unreported acquisitions by Google owner Alphabet, Amazon, Apple, Facebook and Microsoft from 2010 to 2019. The commission has published its findings over a year after it started the inquiry in February 2020, focusing on 616 transactions valued at over $1 million. 

Under the Hart-Scott-Rodino Act, only mergers and acquisitions exceeding $92 million in value need to be reported to the FTC and the DOJ for antitrust review. The FTC found that the five tech giants made 616 non-reportable transactions over the course of almost a decade and that quite a big chunk actually exceeded the HSR threshold. Of the 616, 94 exceeded the threshold but weren't reported, because they met certain criteria or because statutory/regulatory exemptions applied to the transaction.

Three more transactions would have exceeded the HSR threshold if the debts or liabilities the acquirer assumed were added to the total amount. Nine additional transactions would've also gone above the threshold if the "deferred or contingent compensation to founders and key employees" were added. The FTC didn't mention any specific acquisition in its report, but Bloomberg mentioned Facebook's acquisition of Giphy last year. Bloomberg says Giphy paid a dividend to investors to lower its assets so that antitrust officials wouldn't have to be notified. While Facebook didn't reveal how much it paid for the GIF database, reports say it cost the social network $400 million. 

In addition to identifying potential loopholes in HSR reporting, Khan also wants the commission to learn from international peers, since a third of the acquisitions involved foreign companies. Finally, the chairperson wants to scrutinize the use of non-compete clauses in mergers. In more than 75 percent of the transactions investigated, the key personnel of the acquired companies were required to sign non-compete agreements.

Khan said in a statement:

"While the Commission’s enforcement actions have already focused on how digital platforms can buy their way out of competing, this study highlights the systemic nature of their acquisition strategies..It captures the extent to which these firms have devoted tremendous resources to acquiring start-ups, patent portfolios, and entire teams of technologists — and how they were able to do so largely outside of our purview."

'Deltarune' chapter 2 arrives on September 17th for PC and Mac

At the end of the stream for Undertale's sixth anniversary, Toby Fox has dropped a surprise for his fans: The second chapter of Deltarune, his newer top-down RPG, will be available this week after almost a three-year wait. As Kotaku notes, Fox's release of the first chapter Deltarune in October 2018 also came a surprise. In the game, you control a human named Kris who fell with his classmate Susie into the "Dark World," where they meet Ralsei who tells them they're heroes destined to save the world.

As you'd expect from any RPG, the three embark on a quest and encounter monsters along the way. Deltarune is a top-down 2D RPG like Undertale, but it features an improved turn-based, multi-character battle system similar to Final Fantasy's. In a previous interview, Fox said the idea for Deltarune came to him in a dream he had back in 2011— development for the game started the year after that.

The second chapter of Deltarune will be available on September 17th, 8PM EST for PC and Mac. There's no word on the Switch and PS4 versions yet. Fox said on the game's official website that he's planning more chapters for the game but has only completed the second one, so far. 

See you soon. https://t.co/Z19tzGlRmWpic.twitter.com/hKU0st0LCb

— UNDERTALE / DELTARUNE (@UnderTale) September 16, 2021

Watch SpaceX's all-civilian Inspiration4 spaceflight here at 8PM ET

SpaceX is making history by launching the first ever all-civilian mission to orbit, and you can watch it happen live. The aerospace corporation is opening a five-hour launch window for the mission called Inspiration4 today, September 15th, at 8:02PM Eastern time. Inspiration4 was paid for a billionaire who was relatively unknown before this: Shift4 Payments CEO Jared Isaacman. He's bringing three more people with him, and none of them are trained astronauts or have been to space before.

Isaacman, who's an experienced pilot, will be the mission's commander, while Hayley Arceneaux will be its medical officer. Arceneaux is a physician assistant at St. Jude Children's Research Hospital who had cancer herself as a child. According to The Atlantic, one of the goals for this mission is to raise $200 million for the hospital, and Isaacman wanted to bring one of its employees. 

Geoscience professor and former NASA astronaut program finalist Sian Proctor will serve as the mission pilot. Finally, data engineer and Iraq War veteran Chris Sembroski will serve as mission specialist. Proctor won an online competition organized by Isaacman, while Sembroski got his slot from a friend who won a raffle for a seat on the mission.

The team trained together for six months and completed a full rehearsal of launch day activities on September 13th. They'll spend three days orbiting our planet aboard SpaceX's Crew Dragon capsule that will blast off on top of a Falcon 9 rocket. While they're hurtling across space, the team will conduct scientific research meant to provide more data on the effects of long-duration spaceflights on the human body. 

SpaceX has started streaming the event on its website and its YouTube page. Netflix will also stream the launch on YouTube.

Xiaomi unveils Pad 5 productivity tablet and Mi Smart Band 6 with NFC

Xiaomi has also launched a new tablet, the Pad 5, and an NFC version of the Mi Smart Band 6 today, in addition to its new Xiaomi 11 smartphones. The Pad 5 was designed with productivity in mind, specifically as a tool meant for people working or studying from home. It comes with the company's Smart Pen, which can be used to take notes or to quickly take screenshots with its function keys. The tablet has an 8-megapixel front camera that supports 1080p video for meetings and classes. It also has built-in capability to scan documents for later use or for sharing using its 13-megapixel rear camera.

Since the manufacturer wants the tablet to double as an entertainment center, it equipped the device with an 11-inch WQHD+ display that has a 120Hz refresh rate and added support for Dolby Vision and Dolby Atmos. The Xiaomi Pad 5 is powered by a 7nm Qualcomm Snapdragon 860 processor announced earlier this year, which XDA Developers previously described as a revised version of the Snapdragon 855 that powered most flagships in 2019. It'll be available in Gray and Pearl White and in two configurations: One with 6GB of RAM and 128GB of storage and another with 6GB of RAM and 256GB of storage, with prices that begin at EUR349 (US$412) and EUR399 (US$472), respectively. Release dates vary per region, and those interested will have to check availability in their location.

Xiaomi has also launched a new version of the Mi Smart Band 6 that was originally introduced in March 2020. The new band still has the health-focused features of the old one, including an SpO2 function, but it now also comes with the ability to make contactless payments via NFC. Xiaomi says it teamed up with Mastercard to add the feature to the wearable, which now also comes with built-in access to Amazon's Alexa voice assistant. The smart band will set buyers back EUR55 (US$65).

Xiaomi

Aside from the Pad 5 and the new Mi Smart Band 6, Xiaomi has also launched the EUR599 (US$708) Mi Smart Projector 2. It's a portable projector running on Android TV that has built-in access to Google Assistant and the capability to show images in 1920 x 1080 Full HD resolution. Finally, the company has introduced a two-pack mesh system that can offer dual-band WiFi 6 network coverage of up to 4,000 square feet, which will set buyers back EUR149 (US$176).

Microsoft issues patch for zero-day exploit that uses malicious Office files

Microsoft has just rolled out an update fixing 66 security vulnerabilities as part of this month's Patch Tuesday. One of them addresses a critical zero-day vulnerability that's being actively exploited by hackers using Office files containing malicious ActiveX controls. A few days ago, Microsoft issued a warning about the flaw after being notified by security researchers who discovered that bad actors are exploiting it by tricking potential victims into opening malicious Office files. Upon being opened, the file automatically launches a page on Internet Explorer, which contains an ActiveX control that downloads malware onto the victim's computer.

When Microsoft published the warning, it didn't have a fix yet and only asked users to make sure Microsoft Defender Antivirus or Microsoft Defender for Endpoint are switch on. Both programs can detect attempts to exploit the vulnerability. It also advised users to disable all ActiveX controls on Internet Explorer. The vulnerability known as CVE-2021-40444 affects Windows Servers from version 2008 and Windows 7 through 10. Security researchers proved that the exploit is 100 percent reliable, and all it would take to infect a computer is to open the file a hacker sends. Now, the new update will make sure the flaw can't be exploited anymore.

In addition to patching CVE-2021-40444, the update also fixes two other critical flaws. As The Register notes, it fixes two remote code execution vulnerabilities for Windows WLAN AutoConfig Service and Open Management Infrastructure.

New York passes law that will ban all gas-powered car sales by 2035

In 14 years' time, no fossil fuel-powered vehicles will be sold in New York anymore. The state has passed a new law that bans the sale of gas vehicles starting in 2035, requiring all new cars to be zero emission. New York's Senate and Assembly passed the bill and Governor Kathy Hochul signed it into law last week. The move will help reduce the state's greenhouse gas emissions by 35 percent and help it achieve its climate targets, including an 85 reduction in GHG emissions by 2050.

As Ars Technica notes, though, the state has a lot of work ahead of it, considering only around one percent of new vehicles sold in New York at the moment is fully electric. That's why, under the new law, several state agencies are required to work together to conjure a zero-emissions vehicle market development strategy by the end of next year. They'll have to find a feasible way to make sure that even off-road vehicles and equipment sold in the state are emissions-free by 2035. The law also requires all medium- and heavy-duty vehicles sold in New York to be emissions-free by 2045.

In addition to having to convince people to buy electric within the next 14 years, New York will also have install an extensive charging network across the state. That includes installing charging stations at apartments, groceries, malls and parking lots. 

California also banned the sales of new gas-powered cars by 2035 last year, and Massachusetts followed suit earlier this year. Meanwhile, Washington lawmakers tried to pass a law that prohibits sales of gas-powered cars by 2030, but it was ultimately vetoed by Governor Jay Inslee.

Nintendo Switch gets Bluetooth audio at last

You can finally use wireless headphones and earbuds with the Nintendo Switch. The gaming giant has quietly announced on Twitter that it has rolled out a software update, which gives the Switch the ability to pair with Bluetooth devices for audio output. After updating, you'll now see a Bluetooth Audio section under Settings, as well as a new status indicator that shows whether a pair of headphones is connected. 

The latest #NintendoSwitch update is now available, including the ability to pair Bluetooth devices for audio output.

For more information, including restrictions on some features while using Bluetooth Audio, please visit the support page: https://t.co/vzAB6lZTDupic.twitter.com/6J5xcDl5kU

— Nintendo of America (@NintendoAmerica) September 15, 2021

The new feature only works with devices for audio output only, though, and doesn't support microphone input via Bluetooth. You can only pair your Switch with two controllers at once while using Bluetooth audio, so you'll have to disconnect your device if you want to get into wild eight-player battles with friends. And while up to 10 Bluetooth devices can be saved on the system, only one can connect to the console at any one time. In addition, you can't use wireless headphones or earphones when you play local wireless multiplayer games — Switch would automatically cut your connection.

Wireless audio has been conspicuously missing from the Switch since it first launched. Over the years, several third-party manufacturers released accessories that added support for wireless audio devices, while a previous update also added support for USB headphones. This update, however, will finally make it a lot easier to go wireless, considering it will allow you to connect the Bluetooth earphone you use with all your other gadgets.

Tonal brings live studio workouts to its smart home gym

Tonal home gym owners will soon be able to interact with coaches and exercise with them in real time when the company starts streaming live workouts. The new feature, called Tonal Live, will offer real-time community classes calibrated for each user. Tonal says coaches will be able to correct participants' form and give shoutouts to people whose cameras are on. While the allure of live workouts is being able to get feedback from a trainer in real time, members can access any live session they miss — they will be added to the gym's on-demand library after 24 hours.

As part of the new feature's arrival, Tonal has redesigned its user interface and mobile app to make it easy to discover live sessions and to preview what kind of workout each one entails. The company has also designed a "social zone," where members can interact directly with each other and see their activities and milestones. In addition, Tonal will introduce four new coaches members can work out with. 

Tonal CEO Aly Orady said:

"Tonal has always been unique in the way that we’ve approached our workout content with adaptive weights, individualized pacing, and form feedback that are customized to our members in real-time. As our community has grown over the past few years, we’ve been encouraged by the organic social engagement, the craving for more interaction with our coaches, and the excitement that comes from reaching new milestones; Tonal Live will allow us to connect these elements through a studio experience while retaining the foundation of what differentiates our workouts: personalization, guidance, and feedback."

While Tonal has been around since 2018, it experienced tremendous growth in 2020 due to the increase in demand for home fitness solutions in the midst of the pandemic. Its sales grew more than eight times, and it raised $250 million in funding, giving the business a $1.6 billion valuation. Back then, the company said it would invest that money into expanding its content and offerings, and this new feature is one of those investments.

Tonal Live will be available starting on October 20th, 2021. 

Amazon's palm-reading tech is heading to sports stadiums and music venues

Amazon has been using its palm-scanning technology to allow customers to pay for purchases at Whole Foods and its own cashierless stores. Now, it's expanding the technology's availability for use outside its own properties, starting by allowing people entering sports, music and other live entertainment venues without the need for a ticket. Amazon One will be offered as part of standalone ticketing pedestals to be deployed by ticketing company AXS, which will will debut at Red Rocks Amphitheatre in Denver today.

To enter venues via Amazon One, attendees can enroll one or both palms for the option at a dedicated station just before they enter. Doing so will enable them to enter the event, and future AXS events, without the need to show a ticket. Amazon says the enrollment process only takes a minute, during with the system creates a unique palm signature using the company's custom-built algorithms. Once that's done, they can then simply scan their palms, which takes a couple of seconds, to enter an AXS venue.

In its announcement, Amazon said it's the "first time the Amazon One service is available outside Amazon and Whole Foods Market stores and for entry into an entertainment venue." It also sounds like the company is looking to make the palm-scanning tech available for other purposes in more locations. "[We're] excited about the potential for expansion to other locations where entry lines can be long and time consuming," it added. Since there's an increasing demand for contactless solutions due to the pandemic —the technology only needs users to hover their palms over a sensor — that may happen sooner than later.

Google slapped with a $177 million fine by South Korea's antitrust authorities

The Korea Fair Trade Commission has imposed a $177 million fine on Google, accusing the tech giant of using its dominant position in the market to hamper the development of Android rivals. According to Yonhap News, Korea's antitrust regulator has decided that the anti-fragmentation agreement (AFA) Google makes manufacturers sign in exchange for using its Android operating system hampers competition. 

The agreement prevents phone manufacturers, including Korean companies Samsung and LG, from creating and installing their own versions of the Android OS (or Android forks) on their devices. Yonhap News says the commission has been looking into whether the agreement stifles competition since 2016. In addition to slapping Google with a fine, the commission has also banned the company from forcing manufacturers to sign AFAs going forward and to modify existing ones. 

In a statement sent to Bloomberg and CNBC, the tech giant argued that Android and its compatibility program sped up innovation and improved user experience, benefiting companies that include Korean manufacturers. "The KFTC's decision released today ignores these benefits, and will undermine the advantages enjoyed by consumers. Google intends to appeal the KFTC's decision," the spokesperson said.

The KFTC has revealed its decision on the same day Korea's amendment to the country's Telecommunications Business Act went live. That amendment adds a law that will require Google and Apple to allow third-party payments for the applications on their App Stores.