The UK government has issued a new order to Apple to create a back door for accessing British users' personal data, replacing a previous mandate, amid ongoing debates over encryption and privacy. Apple opposes such back doors, citing security risks, and has taken legal action, highlighting the broader global tension between security and privacy. Despite these issues, Apple is rated as a moderate buy with a target price of $251.24.
Visa has shut down its open-banking operations in the US due to regulatory uncertainties and debates over consumer data rights, focusing instead on markets like Europe and Latin America. This move comes amid ongoing discussions and legal challenges surrounding rules that govern data sharing between banks and third-party providers, with competitors like Mastercard continuing their open-banking services.
Reddit will restrict the Internet Archive's Wayback Machine from crawling most of its content after discovering AI companies scraping data, citing concerns over privacy and policy violations. The move limits the archive to only indexing Reddit's homepage, aiming to protect user data and enforce platform policies. Reddit has previously restricted access to data for AI training and has ongoing disputes with AI companies over data scraping practices.
JPMorgan is planning to charge fintech companies for access to customer data, which has caused concern among fintech firms about potential impacts on their operations and data sharing practices.
JPMorgan Chase, under CEO Jamie Dimon, is imposing new, significant fees on fintech companies for accessing customer data, marking a major escalation in the ongoing competition between traditional banks and challenger fintechs. This move comes as the bank seeks to monetize data access amid regulatory changes and could influence industry-wide practices, potentially stifling fintech innovation and affecting consumers.
A federal judge in New York approved the Treasury Department's DOGE team to access sensitive financial data, ruling that the department had met requirements for employee screening and training.
A recent firmware update for QNAP NAS devices caused access issues for many users, prompting the company to withdraw the update and release a fixed version within 24 hours. Despite QNAP's quick response, users reported problems across various models, including access denial and boot issues. The company's support response has been criticized, leaving some users concerned about the reliability of their storage systems.
The All of Us Research Program has released genomic data from 245,388 participants, with 77% from under-represented communities. The dataset includes over 1 billion genetic variants, with 275 million previously unreported variants. The program aims to accelerate health research by providing summary data publicly and individual-level data to researchers through a secure cloud-based platform. The data has been validated for genetic associations and is available for diverse research projects, with a streamlined access model reducing barriers for authorized researchers.
Reddit CEO Steve Huffman has criticized the unpaid volunteer moderators leading the blackout of the site, comparing them to wealthy land barons. The blackout began in response to Reddit's plans to charge money for third-party apps to gain access to its data. Huffman has downplayed concerns about the protest action, saying the blackout "will pass" like "all blowups on Reddit." The group of Reddit moderators organizing the blackout has said that more than 300 subreddits "have already announced that they are in it for the long haul, prepared to remain private or otherwise inaccessible indefinitely until Reddit provides an adequate solution."
Reddit is demanding developers pay thousands of dollars to directly access the company's data and content, a move that could help pull in a more diversified source of revenue. The company, which first disclosed plans for an IPO in late 2021, is asking developers to pay $12,000 per every 50 million requests. This has led to disappointment among developers, with one popular third-party app creator stating that it would cost them $20 million per year.
Reddit is facing backlash from app developers after announcing a pricing structure for its API that would charge $12,000 for every 50 million attempts to access the company's data. Christian Selig, developer of the Apollo app, said Reddit wants to charge him $20 million a year to continue offering software that lets Reddit users view and interact with the platform. Some developers have said Reddit's API changes would also block ads in third-party apps, potentially depriving apps of ad revenue and forcing them to try to convert users to subscription business models.
Twitter has accused Microsoft of violating its terms by overusing its ability to download tweets from the platform. Microsoft products have reportedly retrieved over 26 billion tweets in 2022 alone, which Twitter considers "excessive or abusive." The social media company has sent a letter to Microsoft CEO Satya Nadella, listing several alleged violations, including failure to state a purpose for some data collection and use of data in connection with "automation capabilities" subject to Twitter restrictions. Microsoft has refused to pay Twitter to maintain its data access through Twitter's API after Twitter erected a paywall seeking to charge for data.
China has tightened its control over foreign access to its databases and financial records, partially motivated by US think tanks' efforts to monitor hard-to-find information on Beijing and its "military-civil fusion" strategy. The increased restrictions are due to mounting concern among top Chinese officials over the intelligence that US analysts have been able to garner by using publicly available information. The new guidelines could make continuing business with China more risky, and Western consulting, legal, cyber, and auditing firms may find it harder to conduct business with Beijing.
