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
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.
Science & Technology
Apple launches new iPad mini with AI features
Apple said it would roll out the first set of AI features in the U.S. version of the English language this month through a software update with iPadOS 18.1.
Apple on Tuesday launched its new generation of the iPad mini packed with AI features including writing tools and an improved Siri assistant, as the iPhone maker races to boost its devices with artificial-intelligence capabilities, Reuters reported.
The new iPad mini is powered by Apple's A17 Pro chip, which is used in the iPhone 15 Pro and Pro Max models. With a six-core central processing unit, the A17 Pro would boost CPU performance by 30% compared to the current generation iPad minis and is central to running Apple Intelligence, Apple's AI software.
Apple said it would roll out the first set of AI features in the U.S. version of the English language this month through a software update with iPadOS 18.1.
The features will be available for iPads with A17 Pro or M1 chips and later generations, Apple said, adding it will roll out additional features including image-generation tools, Genmoji and ChatGPT-powered capabilities over the next several months, read the report.
Apple in September unveiled its long-awaited, AI-boosted iPhone 16 lineup, but with the AI features still in test mode, the company failed to excite some investors while early sales data raised some questions around demand.
Still, research firm Canalys on Monday said the iPhone 16 would help Apple's sales in the fourth quarter and drive momentum into the first half of 2025, after Apple reached a record high third-quarter shipments.
The iPad mini, starting at $499, is available for pre-orders starting on Tuesday and will begin arriving to customers and Apple store locations next week, Apple said.
Science & Technology
Iran sends satellites to Russia for rocket launch
In September, Iran carried out its second satellite launch this year using a rocket built by its Revolutionary Guards
Iran has sent two locally made satellites to Russia to be put into orbit by a Russian space vehicle, the semi-official news agency Tasnim reported on Saturday, in the latest space cooperation between the two U.S.-sanctioned countries.
The development of Kowsar, a high-resolution imaging satellite, and Hodhod, a small communications satellite, is the first substantial effort by Iran's private space sector, the report said.
Russia sent Iranian satellites into orbit in February and in 2022, when U.S. officials voiced concern over space cooperation between Russia and Iran, fearing the satellite will not only help Russia in Ukraine but also help Iran monitor potential military targets in Israel and the wider Middle East, Reuters reported.
Kowsar could be used in agriculture, natural resource management, environmental monitoring, and disaster management, Tasnim said.
Hodhod is designed for satellite-based communications and could be used in remote areas with little access to terrestrial networks.
In September, Iran carried out its second satellite launch, this year using a rocket built by its Revolutionary Guards.
The launch came as the United States and European countries accuse Tehran of transferring ballistic missiles to Russia that could be used in its war with Ukraine. Iran has denied this.
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