Category: News and Views

US to bar and screen some tech investments in China | BBC News

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The US plans to require American companies to disclose investments they make in China in high-tech sectors such as artificial intelligence, and to prohibit certain investments outright.

The much-anticipated move gives the government new power to screen foreign dealings by private companies.

The US said the measure would be narrowly targeted, but it is poised to further chill economic relations between the two superpowers.

China said it was “very disappointed”.

The US “has continuously escalated suppression and restrictions on China,” said Liu Pengyu, a spokesperson for the Chinese embassy in Washington.

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Hawaii wildfires: Six deaths confirmed as blazes engulf Maui | BBC News

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Six people have died and more have been injured by wildfires sweeping the Hawaiian island of Maui, officials say.

Thousands are without power or cell phone service due to fires that are being fuelled by winds from a nearby hurricane in the Pacific Ocean.

Several blazes are also burning on the Big Island, also known as Hawaii island, a neighbouring island to Maui.

Officials say search and rescue efforts are still ongoing. But they warn that the death toll may rise.

Authorities have evacuated neighbourhoods, closed roads, and opened shelters to host thousands of evacuees.

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WeWork goes from a $47B valuation to ‘substantial doubts’ about its ‘ability to continue as a going concern’ | TechCrunch

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WeWork is struggling to survive in a post-pandemic world.

In announcing its earnings today, the flexible space provider said that “substantial doubt exists about the company’s ability to continue as a going concern.”

WeWork has faced a number of challenges for years now, and with so many companies abandoning office space and more people being able to work remotely, demand for its co-working spaces has steadily declined over time.

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Zoom might use your calls and data to train AI | Mashable

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There’s a chance your video calls will be used to train artificial intelligence.

Zoom updated its terms of service this week to allow it to use some of its users’ data for training AI. And the wording reads pretty strong, leading to lots of fears online.

The terms state the you grant Zoom “perpetual, worldwide, non-exclusive, royalty-free, sublicensable, and transferable license and all other rights required or necessary” to customer content for a number of purposes, now including “machine learning” and “artificial intelligence.” Another section of the terms state that Zoom can use certain user data for “machine learning or artificial intelligence (including for the purposes of training and tuning of algorithms and models).”

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Wells Fargo says missing deposits glitch is resolved | CNN Business

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The Wells Fargo glitch that made some customers’ direct deposits disappear from their bank accounts is over, the bank said on Saturday.

“All accounts have been resolved and are showing accurate balances and transactions,” Wells Fargo spokesperson Amy Bonitatibus said in a statement to CNN. “We sincerely apologize for any inconvenience.”

The issue began on Thursday when a wave of Wells Fargo customers complained on social media that they could not access the money they had deposited at the bank.

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Massive solar explosion felt on Earth, the moon, and Mars simultaneously for the 1st time ever | Live Science

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On Oct. 28, 2021, a huge burst of plasma and magnetized particles erupted from the sun. The massive solar outburst washed over Earth, the moon, and Mars, bathing them in radiation. And, for the first time, instruments on all three bodies measured the same event almost simultaneously.

On Mars, the European Space Agency’s ExoMars Trace Gas Orbiter (TGO) and NASA’s Curiosity rover registered the influx of energized particles. On the moon, these particles were picked up by the Chinese National Space Administration’s Chang’e-4 and NASA’s Lunar Reconnaissance Orbiter (LRO). And closer to home, the German Aerospace Center’s Eu:CROPIS satellite detected the radiation from low Earth orbit. The effects of this solar hat trick were reported Aug. 8 in the journal Geophysical Research Letters.

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Can an Employee Call in Sick on Friday and Still Be Paid for Labor Day? | AllBusiness.com

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The last big weekend of the summer is traditionally Labor Day weekend. Many employees may be hoping for one final trip to the beach before the fall arrives. You have approved all of the requests for time off, but you know that if it is especially sunny and warm that weekend, someone on your staff is likely to develop a “last-minute stomach bug.” So do they need to be paid for Labor Day?

Holiday pay for non-exempt employees

Many employers include a specific provision in holiday pay policies that employees must work the scheduled day before and after a holiday in order to be eligible for holiday pay. No sweat if the employee is non-exempt, eligible to earn overtime, they don’t need to be paid for the Labor Day off. Make sure the policy is in writing and don’t issue it on the day after the holiday.

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IRS to End Unannounced Visits to Taxpayers | Small Biz Trends

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The Internal Revenue Service (IRS) announced it will cease the majority of unannounced visits to taxpayers. This move aims to decrease public confusion and improve safety for taxpayers and IRS employees alike.

The change, which takes immediate effect, will replace spontaneous visits by IRS revenue officers with scheduled meetings organized via mailed letters, marking a significant break from the IRS’s decades-long practice. Revenue officers, who are tasked with visiting homes and businesses to aid in resolving account balances, often through the collection of unpaid taxes and unfiled tax returns, will now be armed with prior appointments instead of surprise visits.

The adjustment comes as part of a larger effort to revamp IRS operations following the implementation of the Inflation Reduction Act last year and the introduction of the new IRS Strategic Operating Plan in April.

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Apple targeted in App Store antitrust damages suit that’s seeking $1BN+ for UK developers | TechCrunch

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A class-action damages claim is being brought against Apple on behalf of UK-based developers. The suit, which is seeking a compensation payout that could be as high as £800 million (over $1BN), accuses the tech giant of abusing a dominant position by charging an “anticompetitive” 30% fee on in-app sales made by app makers on its iOS App Store. It also argues UK consumers are missing out as developers are being deprived of money that could be spent on R&D to drive forward app innovation.

Sean Ennis, a professor of competition policy at the University of East Anglia who has held positions at the OECD, US Department of Justice and European Commission, is bringing the class action on behalf of over 1,500 UK-based developers.

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