GlobalWafers has expressed optimism that the US Chips and Science Act will continue to provide strong support for chip manufacturers under the new administration. This landmark act, aimed at boosting domestic semiconductor production, offers financial incentives to encourage companies to invest in US facilities—a vital step toward securing supply chains and reducing reliance on foreign manufacturing.
In a recent statement, GlobalWafers noted that programs of this scale and duration are typically supported across different US administrations, given their importance to economic and national security. The company sees the CHIPS Act as essential for driving investments in semiconductor production and also for advancing technological innovation within the industry. They anticipate that the act’s stability under a Trump administration will allow businesses to plan long-term investments in US operations without interruption.
By fostering consistent investment in chip manufacturing, GlobalWafers believes the CHIPS Act will help ensure a robust, self-reliant US semiconductor ecosystem. The program’s continuation is seen as crucial for sustaining growth in the industry, creating jobs, and advancing the global competitiveness of the US in semiconductor technology.
Swiss bank UBS has successfully tested a new blockchain-based payment system, UBS Digital Cash, aimed at streamlining cross-border transactions. The pilot, which included multinational corporations and banks, processed both domestic and international payments in currencies like the US dollar, Swiss franc, euro, and Chinese yuan. This move marks a significant step in UBS’s efforts to enhance payment efficiency and transparency for its clients.
Andy Kollegger, head of UBS Institutional & Multinational Banking, emphasised that cross-border blockchain payments are a strategic priority for the bank, as they offer a more efficient and visible way to handle international transfers. The UBS Digital Cash pilot also allowed liquidity transfers between various UBS entities, demonstrating the system’s capability to improve internal cash management.
UBS plans to further develop UBS Digital Cash, which operates on a private blockchain network accessible only to authorised clients. By using smart contracts, the system automatically settles payments once specific conditions are met, providing clients with enhanced control over intraday liquidity and account buffers through real-time cash position tracking.
Dubai Customs and DP World have signed a Memorandum of Understanding (MoU) to enhance digital trade and logistics solutions in Dubai, supporting the city’s ambition to become one of the top three global economic cities. The partnership aligns with Dubai’s economic agenda, D33, and aims to boost the city’s competitiveness as an international trade hub.
The MoU focuses on transforming customs systems by integrating advanced digital technologies, streamlining trade and logistics processes, and improving stakeholder experiences. By leveraging cutting-edge digital solutions, both organisations seek to modernise customs operations, offer faster, more efficient services, and facilitate smoother cross-border trade flows, ultimately meeting the evolving demands of international trade.
Furthermore, this collaboration highlights a commitment to fostering innovation within the trade and logistics sector, creating a more seamless business experience. The partnership is expected to propel the industry toward more efficient trading methods, reinforcing Dubai’s position as a competitive and connected business hub in the global trade ecosystem.
The Federal Trade Commission (FTC) has charged Sitejabber, an online review platform, for violating its new rules on fake reviews. This marks one of the agency’s first enforcement actions under updated regulations designed to curb deceptive practices. The FTC alleges that Sitejabber misled consumers by using point-of-sale reviews—feedback collected before customers had received any products or services—to falsely inflate businesses’ review scores.
The company allowed its clients to publish these premature reviews, giving a false impression that they reflected actual customer experiences. The FTC has now ordered Sitejabber to stop this practice and prohibited it from assisting other businesses in misrepresenting reviews. The new rules, which took effect last month, aim to tackle deceptive online review practices, including those involving AI-generated reviews and fake review websites masquerading as independent.
The FTC’s crackdown is part of a broader effort to address the rising problem of fake reviews on e-commerce platforms like Amazon. With the new regulations in place, the agency intends to prevent misleading online content that could deceive consumers into making purchasing decisions based on false information.
Donald Trump is expected to scale back some of the antitrust policies introduced under President Joe Biden, including potentially softening the approach to breaking up large tech companies like Google. While Trump is likely to continue pursuing cases against Big Tech, such as the ongoing Department of Justice (DOJ) cases against Google and Apple, his recent comments indicate a more cautious stance. Trump questioned whether breaking up Google would destroy the company, suggesting that fairer practices could be achieved without drastic measures like a breakup.
The DOJ’s cases against Google over its dominance in online search and advertising technology are still in progress, with potential remedies, including divesting parts of its business, yet to be decided. The trial over these remedies won’t happen until 2025, providing Trump the opportunity to influence how the cases proceed. Additionally, Trump is expected to ease policies that have frustrated dealmakers, including the Biden administration’s strict merger review guidelines.
Trump’s approach to antitrust enforcement is likely to be less aggressive than Biden’s, especially regarding mergers and acquisitions. While he may ease restrictions on noncompete clauses and other regulatory measures, such as those championed by FTC Chair Lina Khan, his policies are expected to maintain some level of antitrust action.
Microsoft is introducing AI-powered text editing to Notepad, allowing users to rewrite text with ease. The new feature, called Rewrite, is now available in preview for Windows Insiders. It lets you modify text by rephrasing sentences, adjusting the tone, and changing the length of content. To use it, simply highlight the text you want to adjust, right-click, and select the ‘Rewrite’ option. You can choose from three different reworded versions to replace the original text.
The Rewrite feature requires a Microsoft account for authentication and is available in select countries including the US, UK, and Germany. This feature is part of a broader update to Microsoft’s productivity tools, including improvements to Notepad, such as spell check and autocorrect, rolled out in July.
In addition to updates in Notepad, Microsoft is also testing AI-powered tools in Paint. The Generative Fill feature lets users add new content to images based on a text prompt, while the Generative Erase tool removes parts of an image and blends in the surrounding space. These tools are available to Windows Insiders, with some features rolling out on specific devices.
Singapore’s Keppel has announced an agreement to acquire an AI-ready data centre being developed by Japan’s Mitsui Fudosan in Tokyo. The deal comes shortly after Keppel revealed plans to significantly increase its data centre funds under management, aiming to take advantage of the growing AI sector.
Mitsui Fudosan will handle the core and shell development of the facility, while Keppel’s private fund will oversee the fit-out works. The data centre is expected to be completed by 2027, with Keppel taking on the role of facility manager, which will contribute to its recurring income stream.
Keppel emphasised its ongoing partnership with Mitsui Fudosan to develop a strong pipeline of assets for its upcoming Keppel Data Centre Fund III. Financial details of the transaction have not been disclosed due to confidentiality agreements.
Amazon has resumed its drone delivery programme, bringing its Prime Air service to select customers in the Phoenix, Arizona area. After recently ending the service in California, Amazon is now offering drone deliveries for products weighing five pounds or less, covering around 50,000 items. Customers in the West Valley Phoenix Metro Area can choose their delivery spot at checkout, with most items arriving within an hour from a nearby take-off site.
Using the advanced MK30 drone, Amazon has ensured improved delivery capabilities, with the Federal Aviation Administration recently allowing it to fly beyond the operator’s visual line of sight. The MK30 is quieter, can fly further, and operates in light rain, although it is limited to daylight and favourable weather conditions. The MK30 is also being used in College Station, Texas, where Amazon has piloted prescription medicine deliveries since 2023.
Amazon, aiming for efficient and cost-effective operations, has integrated drone deliveries into its same-day delivery network. While the company previously announced plans to expand drone delivery to the UK and Italy by the end of the year, no new updates were provided on these international expansions.
Investigators in France and the Netherlands have conducted searches at Netflix offices as part of a tax fraud probe led by France’s Parquet National Financier (PNF), a unit specialising in financial crime investigations. This inquiry, opened in November 2022, seeks to clarify Netflix’s reported revenues and tax payments within the country, following questions over whether the streaming giant routed income through the Netherlands to reduce its French tax obligations.
The Paris office was searched Tuesday morning, and simultaneous searches took place at Netflix’s European headquarters in Amsterdam. The PNF and Dutch financial crime authorities have coordinated for months on the probe, although a preliminary investigation does not necessarily imply criminal charges.
The probe follows scrutiny from French tax authorities over Netflix’s financial filings; the company reported under €1 million in French taxes between 2019 and 2020 while showing significantly higher revenues beginning in 2021. Netflix, which settled a similar tax issue in Italy in 2022, has stated it complies with tax regulations in all operating regions and cooperates with authorities.
Apple is set to face its first fine under the European Union‘s Digital Markets Act (DMA) for breaching the bloc’s antitrust regulations, according to sources familiar with the matter. This comes after EU regulators charged Apple in June for violating the new tech rules, which are designed to curb the dominance of big tech companies. The fine, expected to be imposed later this month, adds to Apple’s ongoing antitrust challenges in the EU.
In March, Apple was hit with a €1.84 billion fine for restricting competition in the music streaming market through its App Store policies. The company also faces additional investigations related to new fees on app developers and potential violations of the DMA, which could result in penalties of up to 10% of its global annual revenue.
The Digital Markets Act, which came into effect earlier this year, mandates Apple to make changes, such as allowing users to choose default browsers and permitting alternative app stores on its operating systems. Apple has not commented on the impending fine, and the European Commission has yet to provide a response.
