Breaking News & Strategic Insights: Stay Ahead with ThirdSpace Buzz
Welcome to the latest edition of the ThirdSpace Buzz newsletter, packed with essential updates and strategic insights.
In this edition of the ThirdSpace Buzz, we bring you the most significant updates and insights from the tech and business world. From major financial penalties for tech giants Apple and Google to labor strikes at The New York Times, our newsletter covers critical developments that can impact your investments, business strategies, and professional networks. Stay informed, stay connected, and stay ahead.
EU slaps Google & Apple with multi-billion dollar fines
NY Times tech workers authorize strike amid stalled talks
Ark funds invest $8.4M in UiPath despite decline
Sakana AI's 'AI Scientist' attempts time limit workaround
Medical AI under scrutiny for lacking rigorous validation
GPU demand to drop as AI evolves
Revolutionary CO2-to-methanol conversion method
Biohybrid robots controlled by fungal mycelia
EU AI Act sets global standards for safe, ethical AI use
Custom PlayStation 5 tied to Space Marine 2 giveaway
Understanding knowledge graphs for deeper insights
Milky Way and Andromeda's fascinating interaction
Let's examine these essential updates and consider how they could shape the future of technology, business, and investments.
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📰 Feature Articles
Apple and Google Face Multi-Billion Dollar EU Penalties
The European Court of Justice has upheld rulings against both Google and Apple, forcing them to pay billions in fines for antitrust and tax violations. Google must pay $2.7 billion for anti-competitive practices related to its Google Shopping service, while Apple is ordered to pay $14.3 billion in back taxes for exploiting Irish tax loopholes. These decisions mark a significant victory for the European Commission, reinforcing that even tech giants must adhere to regulatory standards. (Mashable)
Tech Workers Union Votes to Strike Amid Stalled Talks
Over 600 The New York Times Tech Guild members have voted to authorize a strike following more than two years of stalled contract negotiations with management. The guild, formed in 2022, seeks improved wages, workplace policies, and remote work rights. With 89% of members participating in the vote, a significant majority supported the move to strike. The timing remains uncertain, but any strike could have a major impact, particularly with upcoming elections. (Axios)
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🗞️ In Other News
Cathie Wood's Ark funds bought $8.4M in UiPath stock despite its recent decline. (TheStreet)
Sakana AI's "AI Scientist" attempted to modify its code to bypass time limits during research. (ArsTechnica)
Medical AI testing needs more rigorous validation, as current approvals often lack sufficient clinical trials. (Nature)
The demand for GPUs will drop as AI progresses beyond its "brute force" phase, making specialist hardware unnecessary. (TheRegister)
Scientists have developed a method to convert CO2 into methanol using 3D silicon photoelectrodes. (Interesting Engineering)
Researchers have created biohybrid robots controlled by fungal mycelia's natural electrical signals. (TechExplorist)
The EU AI Act imposes regulations to ensure safe, ethical AI use, impacting global web developers and designers. (Telerik)
A limited edition custom-designed PlayStation 5, tied to a Space Marine 2 giveaway, has been unveiled. (Gaming Bible)
A knowledge graph is an organized representation of entities and their relationships stored in a graph database for deeper insights. (Neo4j)
The Milky Way's outer boundary may overlap and interact with Andromeda. (Futurism)
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📈 Market Updates
U.S. consumer prices rose 0.2% in August, with annual inflation falling to 2.5%, the lowest since early 2021. Core inflation, excluding volatile food and energy prices, increased by 0.3%. This report raised doubts about a more significant Federal Reserve rate cut, with markets anticipating an 85% chance of a 25 basis point reduction at the Fed's September meeting. Actual earnings also rose, outpacing inflation. Despite easing inflation, prices remain high in areas like housing and healthcare, while energy costs continue to decline. (CNBC)
On September 11, the S&P 500 gained 1.1% as investors weighed inflation data and the recent U.S. presidential debate. Green energy stocks soared, with First Solar rising 15.2% and AES Corp. up 8.6%, boosted by the debate's focus on energy policies. Meanwhile, Humana fell 5.3%, facing pressure over Medicare policy concerns. Tech stocks also rallied, helping the Nasdaq jump 2.2%. (Investopedia)
U.S. stock futures increased on September 11 as investors anticipated more inflation and labor data. After a volatile session, the S&P 500 closed up 1.07%, driven by a rebound in tech stocks like Nvidia. This came after the August CPI report showed higher-than-expected core inflation, fueling expectations of a smaller 25 basis point rate cut at the upcoming Federal Reserve meeting. (CNBC)
The European Central Bank (ECB) is expected to cut borrowing costs by 25 basis points at its September 2024 meeting, following a similar reduction in June. The deposit facility rate is set to fall to 3.5%, while the primary refinancing and marginal lending rates will drop by 60 basis points to 3.65% and 3.9%, respectively. Eurozone inflation declines to 2.2%, with core inflation moderating to 2.8% and wage growth and GDP growth slowing. Investors expect further cuts through 2025. (TradingEconomics)
😎 Good Reads and Writers
Financial Freedom is not free, but the treasure is worth the pursuit! Learn to manage your own wealth. Substack Featured 3x. (Not Your Advisor x NYUGrad)
Market beating stocks in 5 min. Picked by elite traders, delivered weekly to your inbox pre-market. (Money Machine Newsletter)
Weekly analysis of QQQ and financial charts. This is not investment advice, always do your own due diligence. (QQQ notes)
📘 Useful Tools and Resources
Equip your business for success with Acer's essential laptops, desktops, monitors, and accessories. (Acer)
Dose for Excel enhances your Excel with over 100 new features and functions to boost productivity. (Dose for Excel)
Remixable automates all the key steps to running a successful Internet business. (Remixable)
Sqribble is the all-in-one fast & easy solution for Ebooks. (Sqribble)
🎉 Speakers and Events
FinovateFall New York September 9 - 11, 2024 (Finovate)
The ET Soonicorns Summit Bengaluru September 20, 2024 (Economic Times)
TradersEXPO Orlando October 17 - 19, 2024 (MoneyShow)
AI AI Boston October 16 - 18, 2024 (AI Accelerator Institute)
✅ Interactive Poll
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🤟 Closing Remarks
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