Science & Technology
Elon Musk is under federal investigations, Twitter says in court filing
Elon Musk is being investigated by federal authorities over his conduct in his $44 billion takeover deal for Twitter Inc (TWTR.N), the social media company said in a court filing released on Thursday.
While the filing said he was under investigations, it did not say what the exact focus of the probes was and which federal authorities are conducting them, Reuters reported.
Twitter, which sued Musk in July to force him to close the deal, said attorneys for the Tesla Inc (TSLA.O) CEO had claimed "investigative privilege" when refusing to hand over documents it had sought.
In late September, Musk's attorneys had provided a "privilege log" identifying documents to be withheld, Twitter said. The log referenced drafts of a May 13 email to the U.S. Securities and Exchange Commission (SEC) and a slide presentation to the Federal Trade Commission (FTC).
"This game of 'hide the ball' must end," the company said in the court filing.
The court filing, which asked Delaware judge Kathaleen McCormick to order Musk's attorneys to provide the documents, was made on Oct. 6 - the same day that McCormick paused litigation between the two sides after Musk reversed course and said he would proceed with the deal.
Alex Spiro, an attorney for Musk, told Reuters that Twitter's court filing was a "misdirection" and asserted: "It is Twitter's executives that are under federal investigation."
Twitter declined to comment on Spiro's statement. It also declined comment when asked by Reuters about its understanding of any investigation into Musk.
The SEC did not immediately respond to a request for comment and the FTC declined to comment.
The SEC has questioned Musk's comments about the Twitter acquisition, including whether a 9% stake he had built up before announcing his bid had been disclosed late and why it indicated that he intended to be a passive shareholder. Musk later refiled the disclosure to indicate he was an active investor.
In June, the SEC asked Musk in a letter whether he should have amended his public filing to reflect his intention to suspend or abandon the deal.
The Information, a tech news site, reported in April that the FTC was scrutinizing whether Musk failed to comply with the antitrust reporting requirement relating to an investor's intentions of being a passive or active shareholder.
Twitter said in June, however, that the takeover deal with Musk had cleared an antitrust waiting period for review by the FTC and U.S. Justice Department, read the report.
McCormick has given Musk until Oct. 28 to close the acquisition. If the deal does not get done by then, a trial date will be set for November.
Science & Technology
Australia’s under-16 social media ban sparks anger and relief
Australians reacted on Friday with a mixture of anger and relief to a social media ban on children under 16 that the government says is world-leading, but which tech giants like TikTok argue could push young people to "darker corners of the internet".
Australia approved the social media ban for children late on Thursday after an emotive debate that has gripped the nation, setting a benchmark for jurisdictions around the world with one of the toughest regulations targeting Big Tech, Reuters reported.
The law forces tech giants from Instagram and Facebook owner Meta Platforms to TikTok to stop minors from logging in or face fines of up to A$49.5 million ($32 million). A trial of enforcement methods will start in January, with the ban to take effect in a year.
"Platforms now have a social responsibility to ensure the safety of our kids is a priority for them," Australian Prime Minister Anthony Albanese said on Friday
"We're making sure that mums and dads can have that different conversation today and in future days."
Announcing the details of the ban earlier this month, Albanese cited the risks to physical and mental health of children from excessive social media use, in particular the risks to girls from harmful depictions of body image, and misogynist content aimed at boys.
In Sydney on Friday, reaction to the ban was mixed.
"I think that's a great idea, because I found that the social media for kids (is) not really appropriate, sometimes they can look at something they shouldn't," said Sydney resident Francesca Sambas.
Others were more scathing.
"I'm feeling very angry, I feel that this government has taken democracy and thrown it out the window," said 58-year-old Shon Klose.
"How could they possibly make up these rules and these laws and push it upon the people?"
Children, meanwhile, said they would try to find a way around the ban.
"I feel like I still will use it, just secretly get in," said 11-year-old Emma Wakefield.
WORLD FIRST
Countries including France and some U.S. states have passed laws to restrict access for minors without a parent's permission, but the Australian ban is absolute. A full under-14s ban in Florida is being challenged in court on free speech grounds.
Albanese's Labor party won crucial support from the opposition conservatives for the bill that was fast-tracked through the country's parliament as part of 31 bills pushed through in a chaotic final day of parliament for the year.
The government has said enough notice was given as it first flagged the ban after a parliamentary inquiry earlier this year that heard testimony from parents of children who had self-harmed due to cyber bullying.
But it was criticised by social media firms and some lawmakers who say the bill has lacked proper scrutiny.
A spokesperson for TikTok, which is hugely popular with teen users, said on Friday the process had been rushed and risked putting children into greater danger.
"We're disappointed the Australian government has ignored the advice of the many mental health, online safety, and youth advocacy experts who have strongly opposed the ban," the spokesperson said.
Albanese said on Friday passing the bill before the age verification trial has been completed was the correct approach.
"We've got your back is our message to Australian parents," Albanese said.
"We don't argue that its implementation will be perfect, just like the alcohol ban for under 18s doesn't mean that someone under 18 never has access, but we know that it's the right thing to do."
The ban could strain Australia's relationship with key ally the United States, where X owner Elon Musk, a central figure in the administration of president-elect Donald Trump, said in a post this month it seemed a "backdoor way to control access to the Internet by all Australians".
It also builds on an existing mood of antagonism between Australia and mostly US-domiciled tech giants. Australia was the first country to make social media platforms pay media outlets royalties for sharing their content and now plans to threaten them with fines for failing to stamp out scams.
Science & Technology
South Korea authorities launch probe after three die in Hyundai car test
The Ulsan plant is Hyundai’s biggest manufacturing facility, with its own port and an annual production capacity of 1.4 million vehicles
South Korean authorities launched an investigation on Tuesday after three people died during a car test at a Hyundai Motor plant in the city of Ulsan, police told Reuters.
The two Hyundai researchers and one Hyundai contractor were found unconscious in a car at around 3:00 p.m. while they were testing it in a "chamber," according to Hyundai's labour union.
South Korean media reports said the three had suffocated.
A police officer in Ulsan said the police and the labour ministry were investigating the incident, including its cause.
A fire department official told Reuters that it first received a report at 3:17 pm that the accident happened at Hyundai's No.4 factory.
"Hyundai Motor Company is deeply saddened by the incident that occurred at our plant in Ulsan, South Korea," Hyundai said in a statement, saying it would "cooperate fully with all relevant authorities to determine the cause of this incident."
The Ulsan plant is Hyundai's biggest manufacturing facility, with its own port and an annual production capacity of 1.4 million vehicles, including exports of 1.1 million units.
In November last year, Hyundai Motor broke ground on a 2 trillion won ($1.44 billion) plant in Ulsan dedicated to making electric vehicles in South Korea, as the automaker accelerated a shift away from petrol-powered cars.
[embed]https://youtu.be/KrLKCrpLALU[/embed]
Science & Technology
Russia fines Google more than the world’s total GDP over YouTube bans
Russia has fined Google $2.5 decillion after the US tech giant took action against pro-Kremlin TV channels on YouTube following Moscow’s invasion of Ukraine.
Russia imposed a daily fine four years ago - a fine that has since swelled to an unprecedented level - ($20,000,000,000,000,000,000,000,000,000,000,000 - a 33-digit figure).
To put this into perspective, global GDP reaches an estimated $110 thousand billion (12-digit figure), according to the IMF.
Speaking to Russia’s TASS news agency, one expert, Roman Yankovsky from the HSE Institute of Education, said Google “clearly will not pay this penalty, and the Russian Federation will not be able to recover this money from the company."
Euronews reported that a short calculation shows that he is right.
Google's holding company, Alphabet, has a market capitalisation of slightly more than $2 trillion. Even with earnings of $80.54 billion from the last quarter, the tech giant doesn’t seem to be able to afford to pay the fine.
Google first barred pro-Moscow channel Tsargrad TV, which is owned by oligarch Konstantin Malofeev, four years ago.
At the time, Google was fined a daily penalty of 100,000 roubles and warned that amount would double every 24 hours if it went unpaid.
The original fine has been compounded by further penalties after Google eventually blocked a total of 17 Russian TV channels as a result of international sanctions, The Telegraph reported.
The tech giant now owes a staggering $2.5 decillion.
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