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Big tech and finance join forces in cybersecurity crackdown

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Big players in the tech and finance industry are working with the Biden administration to strengthen cybersecurity guidelines

Biden says that he will work with the tech and finance industries to strengthen cybersecurity guidelines in the US.

Yesterday, he met with a group of Cabinet members and big-name executives from tech, finance and infrastructure companies.

An illustration picture taken in London on December 18, 2020 shows the logos of Google, Apple, Facebook, Amazon and Microsoft displayed on a mobile phone. – Accelerating the transition to an ever more digital life, the coronavirus pandemic has tightened tech giants’ grip on billions of customers’ lives. (Photo by JUSTIN TALLIS / AFP) (Photo by JUSTIN TALLIS/AFP via Getty Images)

“The federal government can’t meet this challenge alone,” Biden said. “You have the power, the capacity and the responsibility, I believe, to raise the bar on cybersecurity.”

The guest list included Amazon’s Andy Jassy, Apple’s Tim Cook, Microsoft’s Satya Nadella, Google’s Sundar Pichai and IBM’s Arvind Krishna.

Cybersecurity rises to the top of Biden’s agenda

It seems that cybersecuirty has made its way to the top of Biden’s agenda, likely prompted by a series of high-profile cyber attacks over the course of this year.

This comes after the massive Colonial Pipeline attack, which resulted in a $4.4 million ransom payout to the hackers.

Other noteworthy recent attacks on US companies include the Russia REvil gang hack and the attack on JBS, the world’s largest meat supplier.

“We have a lot of work to do,” Biden said.

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

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Tesla is slashing prices to stay competitive

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Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.
Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.
On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.
Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.
The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.

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TikTok launches Instagram competitor ‘Notes’

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TikTok Notes has launched in Australia & Canada as a formidable competitor to Instagram, offering a unique platform for content creation, text and sharing.

“TikTok Notes is a lifestyle platform that offers informative photo-text content about people’s lives, where you can see individuals sharing their travel tips and daily recipes,” reads the official App Store description.

Take note

The app allows users to create content by combining short videos with text-based notes, closely resembling that of Meta’s Instagram.

Whether it’s sharing a quick tutorial, a personal anecdote, or a thought-provoking message, TikTok Notes is positioned to be a formidable social media platform.

Currently, the app is only available for download and “limited testing” in Australia and Canada.

As it gains momentum, the platform is poised to contest Instagram’s established reign in the social media landscape.

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Ramifications of a TikTok ban to impact Open Internet

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The United States’ longstanding advocacy for an open internet faces a critical juncture as Congress considers legislation targeting TikTok.

The proposed measures, including a forced sale or outright ban of TikTok, have sparked concerns among digital rights advocates and global observers about the implications for internet freedom and international norms.

For decades, the U.S. has championed the concept of an unregulated internet, advocating for the free flow of digital data across borders.

However, the move against TikTok, a platform with 170 million U.S. users, has raised questions about the consistency of America’s stance on internet governance.

Read more – Big tech to handover misinformation data

Critics fear that actions against TikTok could set a precedent for other countries to justify their own internet censorship measures.

Russian blogger Aleksandr Gorbunov warned that Russia could use the U.S. decision to justify further restrictions on platforms like YouTube.

Similarly, Indian lawyer Mishi Choudhary expressed concerns that a U.S. ban on TikTok would embolden the Indian government to impose additional crackdowns on internet freedoms.

Moreover, the proposed legislation could complicate U.S. efforts to advocate for an internet governed by international organizations rather than individual countries.

China, in particular, has promoted a vision of internet sovereignty, advocating for greater national control over online content.

A TikTok ban could undermine America’s credibility in urging other countries to embrace a more open internet governed by global standards.

 

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