The United States Consumer Financial Protection Bureau (CFPB) announced on Friday it will subject Google Payment Corp., Alphabet‘s payment arm, to federal oversight, citing potential risks to consumers. The move follows complaints involving fraud and unauthorised transactions, although the agency stopped short of alleging direct misconduct.
Google has filed a lawsuit challenging the order, arguing that the service in question is no longer active and poses no risk. The CFPB, however, maintains its authority to regulate even discontinued services if they posed prior risks.
The announcement comes as the Biden administration intensifies regulation of tech-driven financial services, seeking parity with traditional banks. Last month, the CFPB finalised rules extending banking supervision to tech firms offering payment and digital wallet services, a move opposed by Republican lawmakers.
With Biden leaving office and President-elect Trump set to return, the decision may face political challenges. Google’s case highlights the broader conflict between Silicon Valley and federal regulators over financial innovation.
TikTok Shop has experienced remarkable growth during the holiday shopping season in the US, with consumers flocking to the platform for deals. Launched in September 2023, it has quickly emerged as a major player in e-commerce, offering merchandise from top brands like e.l.f. Cosmetics and Ninja Kitchen. According to the platform, sales reached $100 million on Black Friday alone, driven by increased adoption among its 170 million US users.
Merchants and influencers have embraced TikTok Shop’s unique model, which combines advertising and live shopping streams. The number of live sessions hosted monthly has nearly tripled in the past year, showcasing products that appeal to buyers through targeted content. Some shoppers have noted faster delivery times compared to Amazon, enhancing TikTok’s competitive edge.
The platform’s success comes as its parent company, ByteDance, faces a looming divestiture mandate in the US to avoid a ban. Analysts suggest such a move could significantly impact TikTok Shop, which has become a vital revenue stream for many brands. Marketing experts describe it as an irreplaceable channel that is excelling in connecting shoppers with tailored content.
Competition remains intense with rivals like Shein and Temu, which also target US consumers with low-cost goods. TikTok Shop continues to gain market share, buoyed by its ability to curate personalised shopping experiences and capitalise on the social media platform’s immense popularity.
Donald Trump’s family and allies are heading to Abu Dhabi for the Gulf’s largest bitcoin gathering amid record-breaking highs for the digital currency. The Bitcoin MENA conference is set to draw over 6,000 attendees, including key figures in Trump’s cryptocurrency initiative. Eric Trump will deliver the keynote address, followed by exclusive sessions for top investors.
World Liberty Financial, co-founded by Trump and led by billionaire Steve Witkoff, plays a central role in the event. Trump himself is the chief crypto advocate, while his sons act as brand ambassadors. The platform has already attracted major investors like blockchain entrepreneur Justin Sun, despite Sun’s legal troubles under the Biden administration.
Bitcoin’s rise to $100,000 has fuelled excitement, with Trump pledging to make the US the global crypto hub. Former PayPal executive David Sacks has been appointed White House czar for AI and cryptocurrencies, reflecting a broader push towards digital innovation. Keynote speeches and whale-only sessions highlight the growing influence of crypto in Trump’s circle and the broader industry.
The conference also features controversial figures, such as Binance founder Changpeng Zhao, who recently served a US prison sentence. With prominent backers and growing market momentum, the event signals a pivotal moment for cryptocurrency and its role in shaping Trump’s political and economic agenda.
American TikTok creators are urging their followers to connect on platforms like Instagram and YouTube after a federal appeals court upheld a law that could ban TikTok in the US unless its Chinese parent company, ByteDance, sells its American operations by January 19. The looming deadline has sparked anxiety among creators and businesses reliant on TikTok’s vast reach, which includes 170 million US users.
The platform’s popularity, especially among younger audiences, has turned it into a hub for creators, advertisers, and small businesses, with features like TikTok Shop driving significant economic activity. Some creators, like social media influencer Chris Mowrey, expressed fears about losing their livelihoods, emphasising the potential economic blow to small enterprises and content creators.
While some users are bracing for a shutdown, others remain sceptical about the ban’s likelihood, holding off on major changes until more clarity emerges. In the meantime, creators like Chris Burkett and SnipingForDom are diversifying their presence across platforms to safeguard their communities and content. For many, the uncertainty surrounding TikTok’s future is a stark reminder of the fragile nature of digital ecosystems.
Jack Ma, co-founder of Alibaba, made a rare public appearance on Sunday, expressing optimism about the future of Ant Group, the fintech affiliate he also helped establish. Speaking at Ant’s 20th-anniversary celebration, Ma highlighted the transformative potential of AI, stating that the changes driven by AI in the next two decades will surpass current expectations. His remarks, reported by Chinese media outlet 36kr, marked a notable return to the spotlight following his retreat from public life amid regulatory challenges.
Reflecting on Ant Group’s turbulent journey, Ma acknowledged the value of criticism and encouragement in fostering the company’s growth. Ant, the operator of China’s leading mobile payment app Alipay, faced a regulatory crackdown after Ma’s public critique of Chinese regulators in 2020. This led to the cancellation of Ant’s $300 billion IPO, followed by a stringent overhaul of its operations to align with financial regulations. The reforms included Ma relinquishing control of the company in 2023.
Despite these challenges, Ant is charting a path forward, underscored by a leadership transition announced Sunday. President Cyril Han will succeed Eric Jing as CEO starting March 1, 2024. Ma’s renewed confidence in Ant’s potential, especially in the AI era, signals a fresh chapter for the fintech giant as it emerges from years of regulatory scrutiny.
A US federal appeals court has upheld a law requiring TikTok’s Chinese parent company, ByteDance, to sell its US operations by 19 January or face a nationwide ban. The ruling marks a significant win for the Justice Department, citing national security concerns over ByteDance’s access to Americans’ data and its potential to influence public discourse. TikTok plans to appeal to the Supreme Court, hoping to block the divestment order.
The decision reflects bipartisan efforts to counter perceived threats from China, with Attorney General Merrick Garland calling it a vital step in preventing the Chinese government from exploiting TikTok. Critics, including the ACLU, argue that banning the app infringes on First Amendment rights, as 170 million Americans rely on TikTok for creative and social expression. The Chinese Embassy denounced the ruling, warning it could damage US-China relations.
Unless overturned or extended by President Biden, the law could also set a precedent for restricting other foreign-owned apps. Meanwhile, TikTok’s rivals, such as Meta and Google, have seen gains in the wake of the decision, as advertisers prepare for potential shifts in the social media landscape.
Amazon has successfully conducted its first drone delivery test in Italy, marking the country as its initial European market for this innovative service. The trial took place on 4 December in San Salvo, Abruzzo, using Amazon‘s new MK-30 drone equipped with advanced computer vision for obstacle detection and safety.
The e-commerce giant aims to launch Prime Air drone deliveries in Italy and the United Kingdom by late 2024, subject to regulatory approvals. The service is already operational in select areas of Texas and Arizona, with plans for expansion.
Italy joins the UK as a focal point for Amazon’s European drone delivery ambitions, supported by local aviation regulators. Amazon’s technology promises safer, more efficient package delivery while navigating complex airspaces.
Google has rolled out a comprehensive feature update for Pixel and Android devices this December, introducing smarter tools and usability enhancements. Key among these is the expansion of Gemini AI extensions, enabling seamless interactions with Spotify, messaging, and smart home devices. Gemini now remembers user preferences, such as dietary habits, to provide personalised suggestions. It also powers enhanced accessibility tools, such as image Q&A in the Lookout app for visually impaired users.
Pixel devices received significant upgrades, including theft-protection updates requiring biometric authentication for sensitive changes. Expressive captions were introduced to reflect emotions like whispering or applause in Android content. The Pixel 9 series stands out with improved screenshot management, HDR support for Instagram, and smarter call-screening features. Pixel Fold devices now offer a dual-screen portrait mode, enhancing photo framing.
Wearables and tablets weren’t left out. The Pixel Watch now integrates with Nest Doorbell, allowing users to view visitors at the door. Expanded fitness metrics are now available across various Pixel and Fitbit models, while the Pixel Tablet gained support for VPNs and new lock screen widgets.
A to-do list app, Twos, is rethinking productivity with AI-driven features that go beyond simple task tracking. Instead of just helping users organise tasks, Twos offers actionable suggestions to help complete them. For instance, writing ‘Buy paper napkins’ prompts the app to suggest links to online stores like Amazon or Walmart. Planning a birthday? Twos might remind you to add a calendar event, send a message, or purchase a gift card.
Launched in 2021 by former Google engineer Parker Klein and Joe Steilberg, Twos integrates with 27 apps, including Spotify, Uber Eats, Google Maps, and Ticketmaster. While the app currently leans on US-centric services, plans for better localisation aim to broaden its appeal. Available across Android, iOS, and the web, Twos is free, with optional premium features like custom sorting and templates priced at $2 each.
Beyond task suggestions, Twos introduced an AI assistant for list creation last year, positioning itself in the growing market of AI-powered productivity tools. The app now boasts over 25,000 active users and emphasises intuitive, energy-efficient design. While other apps like Hypelist compete in this space, Twos’ holistic approach could redefine how we manage daily tasks.
Italian startup iGenius and Nvidia are teaming up to launch one of the largest deployments of Nvidia’s advanced servers by mid-2025. The ‘Colosseum’ data centre in southern Italy will house around 80 GB200 NVL72 servers, each powered by 72 of Nvidia’s latest Blackwell chips, enabling unprecedented AI computing capabilities.
iGenius, a European AI unicorn with over €650 million in funding this year, specialises in open-source AI models for industries like banking and healthcare, prioritising strict data security. The Colosseum system will leverage Nvidia’s tools, including the NIM software platform, to simplify AI model distribution for businesses using Nvidia hardware.
Nvidia executives lauded the partnership, with VP Charlie Boyle highlighting its scale and uniqueness. Multiple Nvidia teams are working closely with iGenius to bring the cutting-edge system online, marking a significant milestone in AI infrastructure development.
