Salesforce has launched its Hyperforce cloud platform in Israel, marking its 17th global cloud location. The new platform will allow sensitive data from government entities and regulated companies to remain within Israel, ensuring compliance with local privacy laws. Initially, Hyperforce will operate on Amazon Web Services (AWS), with plans to potentially expand to Google Cloud in the future.
Before the launch, Israeli companies stored data at Salesforce’s Frankfurt facility, which had been approved for government use. The local cloud platform will now provide a more secure and convenient option for Salesforce’s customers in Israel, with all companies set to migrate soon.
Salesforce, which employs 750 people across three sites in Israel, has been heavily investing in AI. Its Israeli R&D centre plays a key role in developing AI and other advanced technologies, positioning the country as one of the company’s three major development hubs alongside the U.S. and India.
The company’s move to expand its cloud services in Israel aligns with its broader strategy to integrate AI into its product offerings and drive future growth in revenue and profitability.
Visa has announced an ambitious plan to expand the acceptance of digital payments in Pakistan by ten times over the next three years. The strategy, revealed by Visa’s general manager for Pakistan, North Africa, and Levant, Leila Serhan, comes as the company partners with Pakistan’s largest payment provider, 1Link. The aim is to encourage more businesses to adopt digital payments and improve remittance flows into the country.
With a population of 240 million, Pakistan faces a significant challenge, as only 60% of its 137 million adults have bank accounts. Visa’s plan involves investing in digital payment infrastructure, making digital transactions more affordable and easier to manage for businesses, especially smaller merchants. By introducing technology that turns phones into payment devices and accepting various forms of payments such as QR codes and card taps, Visa hopes to increase the current number of point-of-sale machines.
The partnership with 1Link also focuses on enhancing the remittance process, ensuring better security and encouraging transactions through legal channels. Remittances are a vital source of foreign exchange for Pakistan, contributing significantly to its GDP. This collaboration includes allowing 1Link’s PayPak cards to be accepted on Visa’s online platform, despite the two companies being competitors.
As Pakistan implements economic reforms following a $7 billion bailout from the IMF, digital payments are set to play a key role in the government’s drive towards digitisation. Visa is committed to supporting these efforts, seeing digital payments as central to the country’s future economic growth.
In 2009, Google’s goal was to ‘crush’ rival ad networks, as revealed by a former executive in a point highlighted in the ongoing US Department of Justice antitrust trial against the tech giant. The remarks, made by David Rosenblatt, Google’s former president of display advertising, surfaced as part of the prosecution’s argument that Google has been trying to monopolise the online adtech market, dominating both publisher ad servers and advertiser ad networks.
The trial is gaining momentum and has introduced evidence of Google’s internal strategies since it acquired DoubleClick in 2008. Rosenblatt’s comments, referenced in court notes, underscored Google’s aim to control the digital advertising ecosystem. He compared the company’s adtech ambitions to those of major financial institutions, stating that Google wanted to achieve in display ads what it had already done with search ads.
Google has denied the allegations, asserting it faces strong competition from other major players like Microsoft, Amazon, and Meta. The company argues that its advertising tools are common in the industry. However, the prosecution contends that Google’s integrated ad services give it an unfair advantage, particularly by making it difficult for publishers to switch platforms, a challenge Rosenblatt described as a ‘nightmare.’
Should the court rule against Google, prosecutors have called for the company to sell off its Google Ad Manager, including its publisher ad server and ad exchange, to restore competition in the digital advertising market.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has recently updated its Russia General License (GL) 25E, maintaining authorisation for essential and incidental transactions to telecommunications involving the Russian Federation. That license facilitates various internet-based services, including instant messaging, social networking, and e-learning platforms.
It supports the ongoing exchange of communications and allows for the export or reexport of related software, hardware, and technology, provided such transactions comply with the Department of Commerce’s Export Administration Regulations. However, it is important to note that transactions involving significant Russian telecommunications companies designated by OFAC remain unauthorised under this license and must be carefully analysed.
The Department of the Treasury’s Office of Foreign Assets Control has also issued a critical alert regarding Russia’s attempts to evade sanctions by establishing new overseas branches and subsidiaries of Russian financial institutions. That alert warns that these efforts to open new international branches or subsidiaries should be considered potential red flags for sanction evasion.
Financial institutions and foreign regulators are advised to exercise caution when engaging with these entities, as activities such as maintaining accounts, transferring funds, or providing financial services may carry significant risks of facilitating Russia’s attempts to bypass sanctions.
Apple has lost its battle with the European Union over a €13 billion tax payment dispute, marking a major win for the EU regulators. The European Commission initially ordered the payment in 2016, accusing Apple of benefiting from favourable Irish tax rulings that significantly reduced its tax obligations. These sweetheart deals allowed Apple to pay as little as 0.005% tax in 2014.
Apple and Ireland challenged the decision, arguing that the ruling defied logic, especially since Ireland’s low tax rates were instrumental in attracting major tech firms. However, the Court of Justice of the EU upheld the Commission’s order, declaring that Ireland had provided Apple with illegal state aid, which now must be repaid.
Apple expressed disappointment, accusing the EU of retroactively changing tax laws and arguing that its income had already been taxed in the US. The final and non-appealable ruling is a significant step in the EU’s efforts to clamp down on favourable tax deals for multinational corporations.
Google is facing another antitrust battle in a Virginia court, where the US Justice Department has accused the tech giant of monopolising the online advertising industry. Prosecutors argue that Google controls the infrastructure that handles hundreds of thousands of ad sales each second, using its size and dominance to push out competitors and restrict customer choice.
The trial, which US District Judge Leonie Brinkema is hearing, focuses on claims that Google acquired rivals and manipulated market transactions to gain control over both advertisers and publishers. The government’s case highlights how Google allegedly stifled competition and locked customers into its products, tactics reminiscent of traditional monopolies.
Google’s defence, led by attorney Karen Dunn, refuted the accusations by arguing that the case is based on outdated market conditions. She noted that Google now faces significant competition from other major tech companies like Amazon and Comcast and that its tools have evolved to work alongside its rivals.
As the trial progresses, prosecutors push for Google to be forced to sell off essential parts of its ad business, including Google Ad Manager. The case is part of a broader effort by US authorities to curb the dominance of Big Tech, with other lawsuits targeting companies such as Apple, Meta, and Amazon.
The UK’s antitrust regulator, the Competition and Markets Authority (CMA), has accused Google of abusing its dominant position in digital advertising, restricting competition in the sector. According to the CMA, Google’s practices, which allegedly favour its ad exchange platform, have hurt British publishers and advertisers, impacting their ability to generate revenue through digital ads. The regulator’s provisional findings suggest that Google has been using its influence in the advertising market’s buying and selling sides since 2015.
The CMA highlighted the potential harm these practices could cause businesses relying on online ads to fund their websites and apps, reaching millions across the UK. Juliette Enser, interim executive director of enforcement, stressed that this anti-competitive behaviour undermines free or lower-cost digital content. In response, Google disagreed with the CMA’s conclusions, arguing that its advertising tools support businesses of all sizes in a highly competitive industry.
The issue is part of a larger global scrutiny of Google’s advertising practices, with similar investigations underway by the US Department of Justice and the European Commission. In 2023, the EU regulators even suggested that Google might need to sell parts of its adtech business, though the company dismissed this idea as disproportionate. The CMA is now set to review Google’s response before deciding on possible fines or other legal actions to end the infringement.
A US federal judge has rejected Coinbase’s attempt to dismiss a class-action lawsuit from shareholders. The lawsuit claims that Coinbase, the largest US cryptocurrency exchange, misled investors by downplaying the chances of facing legal action from the US Securities and Exchange Commission (SEC). The ruling comes 15 months after the SEC sued Coinbase for allegedly operating as an unregistered securities exchange, leading to a significant drop in the company’s stock price.
The shareholders argue that Coinbase and its top executives falsely portrayed the company’s position, emphasising that the crypto assets it listed were not securities and thus unlikely to attract regulatory action. Additionally, they allege that the company misled investors about the risks customers faced regarding their assets in the event of bankruptcy. Coinbase’s share price fell sharply after revealing disappointing earnings and adding new disclosures in May 2022.
While the judge dismissed claims that Coinbase falsely denied engaging in proprietary trading, some allegations can proceed, including those about misrepresenting risks to customer assets. Coinbase remains confident in its legal standing and is prepared to defend its case in court.
FedEx has made a strategic investment in AI robotics and automation company Nimble to enhance its fulfilment services for small and medium-sized businesses. The investment aims to support FedEx’s Fulfilment unit, which assists businesses with order fulfilment and inventory management.
The investment comes as parcel delivery companies increasingly turn to automation to reduce costs and improve efficiency, particularly during periods of lower freight demand. FedEx believes Nimble’s automated third-party logistics solutions will help optimise supply chain operations across North America.
Scott Temple, president of FedEx Supply Chain, stated that the alliance with Nimble will expand the company’s presence in e-commerce, allowing FedEx to scale its fulfilment offerings throughout North America. The exact size of the investment has not been disclosed.
Nimble’s AI robotics technology is expected to help FedEx improve the efficiency of its fulfilment operations and further strengthen its position in the e-commerce sector.
The Dutch government announced on Friday that it will expand export licensing requirements for some of ASML’s semiconductor tools, bringing regulatory control back from the United States. The move aligns Dutch policy with the US and eases tensions between the two governments.
The licensing change comes amid ongoing efforts to restrict China‘s access to advanced technology. ASML, the Dutch company that produces the specialised lithography machines, does not anticipate that the policy shift will affect its earnings.
Dutch Trade Minister Reinette Klever emphasised the decision was made for national safety reasons, citing increased technological risks. ASML’s mid-range tools, such as the 1970i and 1980i DUV immersion lithography machines, are the focus of the new rules.
While the Netherlands has historically banned the export of ASML’s most advanced machines to China under the United States‘ pressure, recent US actions added further restrictions on ASML’s mid-range tools. Dutch lawmakers had expressed concerns about their country’s sovereignty under U.S.-driven policies.
