The Economic Times:
Flipkart consolidates its various fintech offerings, including UPI and BNPL, under Flipkart Pay; the move follows recent expansions and a spinoff of PhonePe — Flipkart has integrated its various fintech services into a single vertical named ‘Flipkart Pay’.
Chinese e-commerce firms prioritize sustainable growth over ultra-low prices amid slow GMV growth and anti-unfair competition rules taking effect on September 1 (Cissy Zhou/Nikkei Asia)
Cissy Zhou / Nikkei Asia:
Chinese e-commerce firms prioritize sustainable growth over ultra-low prices amid slow GMV growth and anti-unfair competition rules taking effect on September 1 — Key sector is prioritizing sustainable sales growth — HONG KONG — China’s e-commerce sector is undergoing a major strategic shift …
The US NTIA issues a report in support of “open-weight” generative AI models like Meta’s Llama 3.1, but recommends the government to monitor for potential risks (Kyle Wiggers/TechCrunch)
Kyle Wiggers / TechCrunch:
The US NTIA issues a report in support of “open-weight” generative AI models like Meta’s Llama 3.1, but recommends the government to monitor for potential risks — The U.S. Commerce Department today issued a report in support of “open-weight” generative AI models like Meta’s Llama 3.1 …
Riyadh- and London-based AI startup Intelmatix raised a $20M Series A led by Shorooq Partners, the largest Series A investment for an AI firm in the MENA region (Nicolas Parasie/Bloomberg)
Nicolas Parasie / Bloomberg:
Riyadh- and London-based AI startup Intelmatix raised a $20M Series A led by Shorooq Partners, the largest Series A investment for an AI firm in the MENA region — – Shorooq is leading $20 million financing round for Intelmatix — Firm, founded in Boston, has operations in Riyadh and London
Scammers are using Meta’s copyright protection tools to target influencers in the Middle East; creators see their content removed from Instagram unless they pay (Tekendra Parmar/Bloomberg)
Tekendra Parmar / Bloomberg:
Scammers are using Meta’s copyright protection tools to target influencers in the Middle East; creators see their content removed from Instagram unless they pay — Victims see their content removed from Instagram unless they pay steep ransoms. — In May 2023, Esaa Ahmed-Adnan …
Temu faces backlash from its Chinese suppliers over its aggressive effort to recruit Amazon merchants who hold goods in warehouses in the US and the EU (Financial Times)
Financial Times:
Temu faces backlash from its Chinese suppliers over its aggressive effort to recruit Amazon merchants who hold goods in warehouses in the US and the EU — Internet marketplace taking on Amazon and Shein aims to cut delivery times by storing goods closer to shoppers
Canva acquires AI image generation service Leonardo.ai for an undisclosed amount; Leonardo.ai launched in December 2022 and has more than 19M registered users (Capital Brief)
Capital Brief:
Canva acquires AI image generation service Leonardo.ai for an undisclosed amount; Leonardo.ai launched in December 2022 and has more than 19M registered users — Founded in December 2022, Leonardo.Ai has over 19 million users and its very own foundation AI model.
A US congressional spokesperson says UAE scuttled meetings this month between congressional staff and G42 after the US raised concerns about Microsoft-G42 deal (Alexandra Alper/Reuters)
Alexandra Alper / Reuters:
A US congressional spokesperson says UAE scuttled meetings this month between congressional staff and G42 after the US raised concerns about Microsoft-G42 deal — The United Arab Emirates scuttled meetings this month between U.S. Congressional staffers and G42 after U.S. lawmakers raised concerns …
Sources: Samsung is narrowing the gap with rival SK Hynix in high-bandwidth memory chips and anticipates Nvidia’s approval for its HBM3E chips by November 2024 (Bloomberg)
Bloomberg:
Sources: Samsung is narrowing the gap with rival SK Hynix in high-bandwidth memory chips and anticipates Nvidia’s approval for its HBM3E chips by November 2024 — – ‘We’ve never seen Samsung in this position,’ one analyst said — Head of semiconductor unit was replaced after several setbacks
Following Google’s announcement of plans to keep cookies, W3C says third-party cookies must be removed as this invisible tracking “hurts everyone’s privacy” (Hadley Beeman/W3C)
Hadley Beeman / W3C:
Following Google’s announcement of plans to keep cookies, W3C says third-party cookies must be removed as this invisible tracking “hurts everyone’s privacy” — Author(s) and publish date — After reading Google’s announcement that they no longer plan to deprecate third-party cookies …
