By Associated Press July 07, 2023 Chinese regulators are fining Ant Group 7.123 billion yuan ($985 million), claiming the financial technology provider violated laws related to corporate governance and consumer rights. The People’s Bank of China imposed the fine on Friday. “We will comply with the terms of the penalty in all earnestness and … Continue reading Ant Group, Jack Ma-founded fintech giant, gets fined almost $1 billion by China regulators
Concerns about GDPR compliance might extend to other AI solutions too. Kim Davis on April 3, 2023 On Friday, Italian regulators imposed a ban on generative AI tool ChatGPT with immediate effect while giving its creator, OpenAI, 20 days to address concerns about the way data is collected and processed under penalty of a fine … Continue reading ChatGPT under threat from European regulators
By Chris Stokel-Walker March 28, 2023 Apple will now offer a buy now, pay later (BNPL) option for customers shopping with a retailer that accepts Apple Pay. Under the new arrangement, which was announced Tuesday, iPhone and iPad users can take out short-term loans with Apple of between $50 and $1,000, which must … Continue reading Experts say Apple’s move into buy now, pay later is likely to catch on with customers—and bring out the regulators
Robinhood lays off almost a quarter of its staff The company cut nine percent of its workforce earlier this year. I. Bonifacic @igorbonifacic Andrew Kelly / reuters For the second time this year, Robinhood is cutting its headcount. On Tuesday, the company announced it would lay off 23 percent of its workforce. According to … Continue reading New York regulators slap Robinhood’s crypto business with $30 million fine
