BUSINESS

META VIOLATES DMA ACT ON IT'S "PAY OR CONSENT " MODEL, FAILING THE EU COMPETITION RULES

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The European Commission's preliminary findings, released on July 1, 2024, have determined that Meta's "pay or consent" model for Facebook and Instagram users in Europe violates the Digital Markets Act (DMA). This decision marks a significant blow to the tech giant's data-driven advertising strategy.

VOLKSWAGEN TO INVEST $5BN IN EV MAKER RIVIAN

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German auto giant Volkswagen will invest $5 billion in US electric vehicle maker Rivian and create a joint venture expected to produce technology used by both automakers, the companies announced Tuesday.

HYUNDAI'S AFFORDABLE EV SKIPS THE US MARKET

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Leaving the American electric vehicle enthusiasts disappointed, Hyundai has announced that its latest compact EV, the Inster, will not be making its way to US shores. This decision highlights the ongoing struggle to bring affordable electric options to the North American market, where demand for such vehicles is growing.

THE ELECTRIC BMW M3 SET TO BE A GAME CHANGER IN THE PERFORMANCE OF EVS

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BMW is pushing forward with its electrification plans, and the upcoming electric M3 is set to redefine high-performance vehicles. According to BMW M CEO Frank van Meel, this new M3, slated for release in 2027, will “beat everything” on the road, leveraging a cutting-edge quad-motor setup to deliver unprecedented power and control.

SPACEX SECURES $843 MILLION NASA CONTRACT TO DECOMMISSION ISS

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In a significant development for space exploration, NASA has awarded SpaceX an $843 million contract to develop a spacecraft capable of safely de-orbiting the International Space Station (ISS) at the end of its operational life in 2030. This decision marks a crucial step in planning for the future of human presence in low Earth orbit.

OPENAI ACQUIRES ROCKSET TO ENHANCE ENTERPRISE AI CAPABILITIES

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OpenAI, the artificial intelligence research laboratory led by CEO Sam Altman, has announced its acquisition of Rockset, a real-time analytics database company. This strategic move aims to bolster OpenAI's enterprise AI offerings and improve its data retrieval systems.

AMAZON SURGES TO $2 TRILLION MILESTONE : A TRIUMPH OF INNOVATION AND MARKET DYNAMICS

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Amazon.com Inc has joined an elite group of U.S. corporations by reaching a market valuation of $2 trillion. This momentous occasion, occurring on Wednesday, marks a significant milestone in the company's journey and underscores its dominant position in the global tech landscape.

FERRARI’S FIRST ELECTRIC SPORTS CAR: A BOLD LEAP INTO THE EV MARKET

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Ferrari is gearing up to unveil its first fully electric sports car, a move set to redefine the landscape of luxury electric vehicles. The highly anticipated model will make its debut in the fourth quarter of 2025 and is expected to carry a premium price tag of over $535,000 (€500,000).