News roundup – Russia v Google, BT & Ericsson’s private 5G, and Qualcomm’s Arm grab
Russia files against Google and six more tech firms over data storage breaches
It follows a 2021 fine for Google $46,540 for failing to store personal data of Russian Users in databases on Russian territory. Google could now be fined up to 18m roubles ($286,852) for repeated failure to comply with Russian legislation. Cases have also been opened against Airbnb, Pinterest, Likeme, Twitch, Apple and United Parcels Services for first-time offences. These carry a potential fine of 1-6m roubles ($16,333 – $97,999).
BT partners with Ericsson to build 5G private networks
The partners will deploy the networks in industries including healthcare, manufacturing, transport and logistics, large shopping centres and stadiums, and ports.
Private 5G is a key part of industry 4.0, according to Ericsson, who spoke to TechInformed about plans for the future deployments earlier this year.
Google injects $300m of funding into India’s ShareChat at $5bn valuation
ShareChat is a social media platform owned by Bangalore-based parent Mohalla Tech. In December 2021, Mohalla raised $266m for ShareChat. This latest funding round has been backed by Indian media conglomerate Times Group and the Singapore government’s Temasek Holdings. The deal is set to be announced as early as next week.
Twitter investors sue Musk over share price manipulation
Musk bid $44bn to take the social media giant private earlier this year, but has since put the takeover on hold. Twitter’s share price has plummeted over 12% since the bid, while Tesla’s is down 28%.
In a class-action lawsuit filed on Wednesday, shareholders allege that Musk violated California corporate law on several fronts, and in doing so engaged in market manipulation. They said that Musk’s gripes about ‘bots’ – which he claimed was behind the postponement – were part of a scheme to negotiate a better price or cease the deal. Shareholders are seeking a jury trial and their complaint is subject to further revisions.
Qualcomm within reach of Arm deal
After plans fall through to sell British chipmaker Arm to Nvidia earlier this year, Japanese giant Softbank may run an IPO to release the gains from its asset. Qualcomm is an interested party in investing, but only alongside other companies so that they have a net effect that Arm is independent, according to reports. It said the purchase price would be high but partied with other investors it would be “big enough”. SoftBank plans to offload all but a controlling stake in Arm fairly quickly.
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