Airbus, Thales, and Leonardo are exploring plans to establish a European joint venture in the satellite sector, aiming to challenge Elon Musk’s Starlink network. Dubbed ‘Project Bromo’ after an Indonesian volcano, the initiative seeks to create a standalone European satellite company modelled after missile maker MBDA, jointly owned by Airbus, Leonardo, and BAE Systems.
The plan is still in the early stages, but discussions have advanced enough to outline a preferred structure. Instead of one partner acquiring the others’ assets, the proposal envisions pooling satellite resources into a new entity. Leonardo CEO Roberto Cingolani confirmed the MBDA-inspired approach, calling it the most viable model for such collaboration.
This initiative comes as Europe’s satellite industry struggles to compete with Starlink’s rapid growth in low Earth orbit. While the merger talks are separate from Airbus’s impending job cuts, they signal a broader effort to revitalise Europe’s space capabilities in the face of intensifying competition.
Chinese semiconductor firms targeted by new US export controls are doubling down on localising their supply chains and leveraging stockpiled resources to maintain production. The restrictions, the third major US crackdown in three years, impact 140 companies and focus on chipmaking equipment, software, and high-bandwidth memory. Despite the curbs, Chinese chip stocks saw slight gains as analysts noted the measures were less severe than expected.
Key companies like Naura Technology and Empyrean have vowed to accelerate domestic technology development. Some, such as Beijing Huafeng Test & Control Technology, reported fully localised supply chains. While the measures hit China’s reliance on foreign manufacturing equipment, imports of semiconductor machinery surged by a third this year, showing resilience in the face of external pressures.
The exclusion of ChangXin Memory Technologies (CXMT), a major AI chip component maker, surprised analysts. The move eased concerns for South Korean suppliers reliant on Chinese revenue, with shares of key partners like Jusung Engineering and Mirae Corp rebounding. The latest curbs reflect ongoing efforts to balance US security goals with the global semiconductor market’s interdependencies.
The United States has imposed its third major round of export controls on China’s semiconductor industry in three years, targeting 140 companies with restrictions on chipmaking equipment, software, and advanced memory chips. Among those affected are prominent firms like Naura Technology, ACM Research, and SiCarrier Technology, as well as entities linked to Huawei, a key player in China’s chip advancements.
The measures, aimed at stalling China’s progress in AI and military technologies, also introduce new licensing requirements for US and foreign companies shipping equipment with US components to China. Commerce Secretary Gina Raimondo stated the restrictions are intended to block China’s military modernisation. Despite the sanctions, Chinese officials condemned the move as “economic coercion” and vowed countermeasures.
The rules also impact allies, with restrictions extending to chipmaking equipment from countries like Singapore and South Korea, while Japan and the Netherlands are exempt. Some global players, including Dutch firm ASML, downplayed the immediate impact but acknowledged potential long-term effects. These actions come as China accelerates efforts toward self-sufficiency in semiconductor production, though it remains years behind industry leaders like Nvidia and ASML.
This latest crackdown follows the sweeping 2022 curbs on high-end chips and manufacturing tools under the Biden administration, reflecting a sustained US effort to curtail China’s access to critical technologies.
Telefonica’s plan to sell stakes in its Peruvian fibre optic network to KKR and Entel has fallen through. The agreement, announced in July 2023, would have seen Telefonica sell 54% to private equity fund KKR and 10% to Chilean telecoms operator Entel. The deal’s failure was confirmed by Entel in a filing to the regulator, citing unspecified breaches of closing conditions.
Despite the setback, Telefonica remains in discussions with both KKR and Entel, according to a filing with the Peruvian stock market regulator. The proposed transaction valued the entire fibre network at approximately €550 million, including debt, and was expected to reduce Telefonica’s debt by €200 million.
Telefonica has been selling assets in recent years to manage its debt load and fund significant investments in 5G infrastructure. The collapse of the deal adds to the challenges the company faces in navigating its financial strategy and expanding next-generation networks.
Payment services in Italy have largely returned to normal following significant disruptions caused by gas pipeline installations damaging network cables. French payments firm Worldline confirmed that restoration efforts, including repairs by its provider, have been effective since Friday afternoon.
The outage began on Thursday morning, during the busy Black Friday shopping period, affecting both Italian and international markets. Italian business group Fipe-Confcommercio voiced serious concerns over the disruption’s timing and impact.
Worldline revealed that local gas pipeline works had severely compromised its network connection to data centres. The company apologised for the inconvenience and promised heightened vigilance in the coming days to prevent further issues.
The Bank of Italy also monitored the situation, noting that some services remain affected. Italian payment firm Nexi expressed dissatisfaction with the response, announcing its own investigation and warning of possible further action.
Mexico’s recent constitutional reform, which dissolves the Federal Telecommunications Institute (IFT) and six other regulatory agencies, has drawn criticism for potentially undermining regulatory independence. Passed by the Senate and awaiting state legislature approval, the reform shifts oversight responsibilities from autonomous bodies to federal executive control, sparking fears of inefficiency and diminished regulatory effectiveness.
The IFT, instrumental in modernising Mexico’s telecommunications and broadcasting sectors, warned that eliminating institutional autonomy could disrupt competition enforcement and sector regulation. Critics, including the Mexican Association for the Right to Information (Amedi), argue the changes risk political interference, jeopardising impartiality in decision-making.
The reform also raises concerns about Mexico’s adherence to international agreements, such as the US-Mexico-Canada Agreement (USMCA), which mandates independent regulators for telecommunications. The government has suggested transferring the IFT’s responsibilities to existing ministries or creating a new agency, leaving the sector’s future regulatory framework uncertain.
Stakeholders stress the need for technical expertise, impartiality, and clarity in upcoming secondary legislation to avoid inefficiencies and ensure compliance with domestic and international obligations.
Australia has proposed a law to curb anti-competitive practices by major tech companies, including fines of up to A$50 million ($33 million) for suppressing competition or preventing consumers from switching services. The move builds on recent efforts by the Labor government to regulate Big Tech, including a ban on social media use for children under 16 passed last week.
Assistant Treasurer Stephen Jones highlighted the dominance of platforms like Apple, Google, and Meta, warning that their practices stifle innovation, limit consumer choice, and inflate costs. The proposed law, inspired by the European Union’s Digital Markets Act, aims to make it easier for users to switch between services such as social media platforms, internet browsers, and app stores.
The law would empower Australia’s competition regulator to enforce compliance, investigate digital market practices, and impose fines. It prioritises oversight of app stores and ad tech services, targeting practices like promoting low-rated apps and favouring in-house services over competitors. Consultation on the legislation will run until February 14, with further discussions to refine the draft.
Big Tech companies, which dominate Australia’s digital market, have yet to comment on the proposal. Government reports reveal Google controls up to 95% of online search, Apple’s App Store handles 60% of app downloads, and Facebook and Instagram account for 79% of social media services in the country.
Michael Saylor, Executive Chairman of MicroStrategy, urged Microsoft to adopt Bitcoin as a strategic reserve during a presentation to the company’s board on 1 December. He emphasised Bitcoin’s potential to become the world’s leading asset within 20 years, surpassing gold and art with a projected global wealth share of $280 trillion. Highlighting Bitcoin’s rapid growth, Saylor noted its annual performance has outpaced Microsoft shares by 12 times, with MicroStrategy shares soaring over 3,000% since embracing Bitcoin.
In his pitch, Saylor framed Bitcoin as a vital asset for Microsoft’s future, claiming it could reduce investor risk while driving share prices to $584 and maximising market capitalisation to nearly $5 trillion. He contrasted Bitcoin’s benefits with traditional financial strategies, urging the board to innovate by adopting the cryptocurrency.
Saylor also introduced Bitcoin24, a product designed to integrate Bitcoin into corporate strategies. He argued that this approach could lower Microsoft’s share risk from 95% to 59% and increase annual recurring revenue from 10.4% to 15.8%. As political and market support for Bitcoin grows, Saylor asserted that Microsoft’s adoption of Bitcoin would secure its position in the digital future.
The PongBot, a cutting-edge AI-powered tennis robot, is revolutionising solo tennis practice. Unlike traditional ball machines, this smart device uses a clip-on sensor to track your court position and adjusts its shots in real-time. Whether you’re a beginner or a seasoned player, it simulates match conditions by varying ball speed, spin, and placement, offering a dynamic training experience anytime.
Players can personalise their sessions via the PongBot app, which features up to 300 preprogrammed drills and custom sequences. With speeds of up to 80 mph and an eight-hour battery life, the AI robot provides intense training tailored to skill level. Advanced AI match training makes it feel like playing against a real opponent, pushing players to improve their game.
Initially funded through a wildly successful Kickstarter campaign, the PongBot comes in two models priced at $699 and $899. With seamless integration with smart devices like Apple Watch and support from tech giant Qualcomm, this high-tech training partner is set to ship in December, perfect for off-season practice.
The Russian Central Bank claims it is making significant progress in tackling peer-to-peer cryptocurrency exchanges. According to a recent financial stability review, the regulator states that high-risk transactions have dropped by 2.8 times compared to 2023. Efforts to combat illegal crypto circulation have involved close collaboration with commercial banks, leading to numerous blocked transfers tied to P2P platforms.
The Russian crypto market remains unregulated and fragmented despite tighter measures, with underground exchanges using fictitious accounts for settlements. While the Central Bank reports a 16 per cent decrease in Russians’ estimated crypto wallet balances since March, the overall volume of crypto transactions involving Russian investors has risen by 18 per cent in 2024.
The bank noted increased interest in global crypto platforms, with web traffic from Russian IPs soaring by over 56 per cent this year. Bitcoin remains the dominant choice for Russian holders, accounting for 69 per cent of wallet balances. Despite regulatory pressure, Russian traders continue to anticipate long-term growth in cryptocurrency values, driven by policy shifts in the US and trends like meme coins.
