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Elon Musk wants to colonize Mars. Is that profitable?

13Dec

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Technology

Elon Musk wants to colonize Mars. Is that profitable?

Austin, TX CNN Business — Elon Musk has spent nearly two decades rallying SpaceX fans around his goal of colonizing Mars, something world governments aren’t currently attempting — in part because of the unfathomable price tag such a mission will entail. Musk, the company’s CEO and chief engineer, refers to his interplanetary ambitions more like a sci-fi protagonist with a moral calling than an entrepreneur with a disruptive business plan. “If there’s something terrible that happens on Earth, either made by humans or natural, we want to have, like, life insurance for life as a whole,” Musk said during a virtual Mars conference on Aug. 31. “Then, there’s the kind of excitement and adventure.” ...

US SEC seeks court order to compel Elon Musk to testify about his Twitter acquisition

5Oct

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Technology

US SEC seeks court order to compel Elon Musk to testify about his Twitter acquisition

New York CNN — The US Securities and Exchange Commission on Thursday applied for a court order to force Elon Musk to testify in an ongoing probe related to his acquisition of Twitter and public disclosures he made in connection with the deal, according to court filings. The filing Thursday in San Francisco federal court seeks a judge’s order requiring Musk to testify, alleging “blatant refusal to comply” with an earlier SEC subpoena. X, the company formerly known as Twitter, did not immediately respond to a request for comment. The SEC action is the latest turn in a long-running inquiry into whether Musk fully complied with his disclosure obligations when he began acquiring large amount...

Five takeaways from the FTC’s 172-page antitrust lawsuit against Amazon

30Sep

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Technology

Five takeaways from the FTC’s 172-page antitrust lawsuit against Amazon

Washington CNN — An antitrust lawsuit from 17 states and the Federal Trade Commission this week against Amazon represents the US government’s biggest regulatory challenge yet against the e-commerce juggernaut. The landmark case targets Amazon’s retail platform, alleging that it’s harmed shoppers and sellers alike on a massive scale. Through an alleged “self-reinforcing cycle of dominance and harm,” the plaintiffs claim, Amazon has run an illegal monopoly in ways that are “paying off for Amazon, but at great cost to tens of millions of American households and hundreds of thousands of sellers.” In response, Amazon has argued the case is “wrong on the facts and the law” and warne...

FCC to propose rules for net neutrality that ban internet providers from blocking websites

27Sep

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Technology

FCC to propose rules for net neutrality that ban internet providers from blocking websites

CNN — The US government aims to restore sweeping regulations for high-speed internet providers such as AT&T, Comcast and Verizon, reviving “net neutrality” rules for the broadband industry — and an ongoing debate about the internet’s future. The proposed rules from the Federal Communications Commission will designate internet service — both the wired kind found in homes and businesses as well as mobile data on cellphones — as “essential telecommunications” akin to traditional telephone services, said FCC Chairwoman Jessica Rosenworcel. The rules would ban internet service providers (ISPs) from blocking or slowing down access to websites and online content. In addition to the prohibitions on b...

The US government and 17 states sues Amazon in landmark monopoly case

26Sep

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Technology

The US government and 17 states sues Amazon in landmark monopoly case

CNN — The US government and 17 states are suing Amazon in a landmark monopoly case reflecting years of allegations that the e-commerce giant abused its economic dominance and harmed fair competition. The groundbreaking lawsuit by the Federal Trade Commission and 17 attorneys general marks the government’s sharpest attack yet against Amazon, a company that started off selling books on the internet but has since become known as “the everything store,” expanding into selling a vast range of consumer products, creating a globe-spanning logistics network and becoming a powerhouse in other technologies such as cloud computing. The 172-page complaint alleges Amazon unfairly promotes its own platform a...

Huawei wants to go all in on AI in first strategy update in a decade, says Meng Wanzhou

21Sep

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Technology

Huawei wants to go all in on AI in first strategy update in a decade, says Meng Wanzhou

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN — Huawei has joined the list of companies that want to be all about artificial intelligence. For the first time in about 10 years, the Chinese tech and telecoms giant announced its new strategic direction on Wednesday, saying it would shift its focus to AI. Previously, the company had prioritized cloud computing and intellectual property, respectively, over two decade-long periods. Meng Wanzhou, Huawei’s rotating chairwoman and chief financial officer, made the announcement in Shanghai during a company event. “As...

Fortnite players can claim funds in Epic Games settlement

19Sep

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Technology

Fortnite players can claim funds in Epic Games settlement

New York CNN — Millions of Fortnite users can now claim their small part of the $245 million that the game’s parent company agreed to pay as part of a settlement with the US Federal Trade Commission. Epic Games in December settled allegations with the FTC that it used deceptive tactics that drove users to make unwanted purchases in the multiplayer shooter game that became wildly popular with younger generations a few years ago. The FTC said Tuesday it has now opened the claims process for the more than 37 million potentially affected users who could qualify for compensation. Epic Games agreed in December to pay a total of $520 million to settle US government allegations that it misled millions of...

Elon Musk should be forced to testify on X’s ‘chaotic environment,’ US regulator tells court

18Sep

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Technology

Elon Musk should be forced to testify on X’s ‘chaotic environment,’ US regulator tells court

Washington CNN — Elon Musk should be forced to testify in an expansive US government probe of X, the company formerly known as Twitter, the US government said. The government said mass layoffs and other decisions Musk made raised questions about X’s ability to comply with the law and to protect users’ privacy. The US government’s attempt to compel Musk’s testimony is the latest turn in an investigation that predates Musk’s acquisition of X that has intensified due to Musk’s own actions, according to a court filing by the Justice Department on behalf of the Federal Trade Commission. The court filing dated Monday cites depositions with multiple former X executives, including its former ch...

15Aug

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Technology

US watchdog teases crackdown on data brokers that sell Americans’ personal information

Washington CNN — The US government plans to rein in the vast data broker industry with new, privacy-focused regulations that aim to safeguard millions of Americans’ personal information from data breaches, violent criminals and even artificial intelligence chatbots. The coming proposal by the Consumer Financial Protection Bureau would extend existing regulations that govern credit reports, arrest records and other data to what the agency describes as the “surveillance industry,” or the sprawling economy of businesses that traffic in increasingly digitized personal information. The potential rules, which are not yet public or final, could bar data brokers from selling certain types of consumer inf...

FCC issues historic $300 million fine against the largest robocall scam it has ever investigated

5Aug

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Technology

FCC issues historic $300 million fine against the largest robocall scam it has ever investigated

CNN — The Federal Communications Commission on Thursday cracked down on a massive illegal robocall operation responsible for billions of auto-warranty scam calls in recent years, with regulators imposing a record $300 million fine on what authorities said is the largest such network it has ever investigated. The globe-spanning illegal operation violated US telecom laws by making more than five billion robocalls to more than half a billion phone numbers over the course of just three months in 2021, the FCC said in a release Wednesday. But the campaign had been in existence for even longer, the FCC added. Using a multitude of shell companies, aliases and fly-by-night phone providers allegedly under ...