European regulator hits Apple with a fine over iPhone water-resistance claims

The iPhone 11 Pro Max
Enlarge / The iPhone 11 Pro Max.

Samuel Axon

Italy has again hit Apple with a fine for what the country’s regulators deem to be misleading marketing claims, though the fine is only €10 million ($12 million)—a pittance from a company like Apple.

This time around, Italy’s Autorita Garante della Concorrenza e del Mercato (AGCM) claims that Apple told consumers that many iPhone models are water resistant but that the iPhones are not as resistant as Apple says. In one example, Apple claimed the iPhone 8 was rated IP67 for water and dust resistance, meaning the phone could survive for up to 30 minutes under three feet of water. But the Italian regulator says that’s only true under special lab conditions with static and pure water conditions.

An announcement by the AGCM specifically names the iPhone 8, iPhone 8 Plus, iPhone XR, iPhone XS, iPhone XS Max, iPhone 11, iPhone

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Eric Schmidt backing Firstminute’s new European venture capital fund

Eric Schmidt, chairman of Alphabet Inc.

David Paul Morris | Bloomberg | Getty Images

LONDON — Eric Schmidt, the former CEO of Google, is one of several tech executives backing a new early-stage European venture capital fund.

The tech billionaire — who has a net worth of $20 billion, according to the Bloomberg Billionaire Index — has invested an undisclosed amount into a $111 million fund that was announced Monday by London-headquartered VC firm Firstminute Capital.

Firstminute was founded in 2017 by Lastminute.com co-founder Brent Hoberman and former Goldman Sachs analyst Spencer Crawley. It launched with a $60 million fund I (that grew to become $100 million) and this second fund brings total assets under management up to $211 million.

RTI Capital Partners is the second fund’s main investor, but Chinese tech giant Tencent, venture firm Atomico, and private equity firm Vitruvian have also invested.

The founders of big data

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European Space Agency is sending a giant claw into orbit to clean up space junk

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The Claaaaaaaaaaaaawwww…


ClearSpace

There are roughly 2,800 live satellites currently orbiting Earth. That’s a lot, but it’s absolutely nothing compared to the amount of defunct objects — AKA space junk — also circling the globe

Scientists estimate that almost 3,000 dead satellites are currently orbiting our planet, which doesn’t account for the 900,000 pieces of debris, less than 10 centimetres long, that could potentially cause a catastrophe should it hit the wrong satellite at the wrong time. 

Scientists and engineers are currently hard at work trying to solve the problem, but the European Space Agency is currently in the beginning stages of executing one of the more bizarre solutions: A space claw that will grip larger defunct satellites and steer them back into the earth’s atmosphere where

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European shares flat as virus woes, economic risks weigh

(Reuters) – European shares were little changed on Thursday as an extension of coronavirus restrictions in Germany and a grim growth forecast for the United Kingdom brought the focus back to the economic impact from the COVID-19 pandemic.

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 25, 2020. REUTERS/Staff

The pan-European STOXX 600 index was flat at 0920 GMT, with gains in tech and healthcare stocks offset by declines in the autos and energy sectors.

A second wave of COVID-19 infections swept across Europe last month, prompting Germany, France and the United Kingdom to once again impose tough lockdown measures, dealing a heavy blow to business activity as restaurants, gyms and shops remained closed.

The benchmark STOXX 600 index is however still on course for its best month on record and market participants expect European equities to touch record

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Google to help European tech services giant ABB expand its cloud footprint

Google LLC has inked a major cloud deal involving the European technology services giant ABB Ltd.

Under the terms of the deal, ABB Information Systems Inc., a subsidiary of ABB, said it plans to migrate its entire information technology infrastructure to Google’s cloud. The move will help ABB IS to increase the scalability and reliance of its IT infrastructure part of an ongoing organizationwide initiative that’s known as “Rationalizing IT Operations.”

The plan will involve Google creating and implementing an “optimized cloud migration” plan, the companies said. What that means is that Google will come up with a customized plan for ABB to shift its IT infrastructure to Google Cloud that doesn’t disrupt its ongoing business operations. Moreover, the migration will be “in-line with ABB’s new operating model,” Google said.

Google said the migration will put ABB IS in a better position to use its data science, artificial intelligence and

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European Aviation Security Market Booming By Size, Revenue And Trend In 2020 Scrutinized In New Research

The MarketWatch News Department was not involved in the creation of this content.

Nov 22, 2020 (AmericaNewsHour) —
Following ISIS terror attacks in Brussels and Istanbul airports, one cannot underestimate the importance of an effective European airport security environment and its effect on the aviation security market. Attacks, which were made possible by the airport security loopholes, will need to be addressed and new modes of operations will need to be adopted.
European airport security markets are going through major shifts. Markets once dominated by the U.S. are now moving to Europe and other regions’ airports.

New and maturing airport security services and technologies such as automated border control kiosks, cargo screening, cybersecurity, airport perimeter security systems and advanced ICT technologies, create new market niches and fresh business opportunities. 
The European aviation security market is forecasted to make a robust comeback, generating a 2016-2022 CAGR of 8.8%.

According to the

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Do China Tech Giants Pose A Risk For European Banks?

China’s Ant group may have been dealt a setback with the shelving of its IPO but European banks remain wary that Chinese tech giants may soon be their main competitors.

The European finance sector has in recent years seen the emergence of a large number of startups — called fintech — which have sought to disrupt brick and mortar banks by offering digital services.

While they have yet to really threaten established banks, the fintechs have forced them to dust off their operations and invest massively into providing similar digital services.

“The real competitor of tomorrow will likely be the GAFAM or the Ants of the world which have the capacity to invest considerable sums,” the head of France’s Societe Generale bank, Frederic Oudea said recently, using a French acronym for Google, Apple, Facebook, Amazon, and Microsoft.

US tech giants have been making more beachheads in financial services an area

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TCS, Infosys, HCL Tech shares may stand to gain as US, European banks increase technology spending



a close up of a hand: Sequential revenue growth recovery in the BFS space was recorded among almost all Indian IT firms.


© Provided by The Financial Express
Sequential revenue growth recovery in the BFS space was recorded among almost all Indian IT firms.

Increased digital adoption has been the buzz word that has helped stocks of Indian Information Technology firms gain faster than the broader markets. TCS, Infosys, HCL Technologies, Wipro, Tech Mahindra, and other IT firms have all outperformed the benchmark S&P BSE Sensex since the end of March. Now, the digitisation that firms across the globe were expected to undergo is looking more realistic with technology spending of US and European banking and financial services firms remaining resilient in the quarter ending September 2020. Leading Indian IT firms stand to benefit from higher technology spends.

Digital spends accelerating

“Companies accelerated digitalization to cater to increased digital adoption. BFS firms will invest to migrate to cloud and reap full benefits of cloud transformation,” said brokerage and research firm Kotak Securities

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European Vega rocket fails for the second time during launch in the last two years

Late Monday night, a European rocket carrying two satellites failed during flight, leading to the loss of the payloads on board. It was the second major failure of this particular type of rocket within the last two years.

The rocket that failed is called Vega, one of the primary rockets developed by European launch provider Arianespace. The vehicle took off last night from Europe’s primary spaceport in French Guiana. On board the rocket was a Spanish Earth-imaging satellite called SEOSat-Ingenio, which would have been operated by the European Space Agency, and another imaging satellite from France called TARANIS.

At about eight minutes into the flight, the engine on Vega’s upper stage ignited. Right after that occurred, the rocket started to veer off course, and its altitude began dropping. After noticing the deviation, Arianespace tried to establish a signal with the rocket

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European activist files complaints against Apple’s tracking tool

BERLIN (Reuters) – A group led by privacy activist Max Schrems filed complaints on Monday with German and Spanish data protection authorities over Apple’s online tracking tool, saying it breached European law by allowing iPhones to store users’ data without their consent.

FILE PHOTO: A logo of Apple is seen outside at the upcoming Apple Marina Bay Sands store in Singapore, September 8, 2020. REUTERS/Edgar Su

It is the first such major action against the U.S. technology group related to European Union privacy rules.

Noyb, the digital rights group run by Schrems, has successfully fought two landmark trials over privacy against Facebook.

Apple said it was not immediately in a position to comment.

The Californian tech giant has previously said it provides users with a superior level of privacy protection. It had announced it would further tighten its rules with the launch of its iOS 14 operating system this autumn

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