Tag Archives: South

South Korea legislators on Tuesday approved the first law in the world that requires app stores to let users pay for in-app purchases through multiple payment systems, a blow to the market dominance of Apple and Google, which opposed the bill. South Korea’s National Assembly passed amendments to the country’s Telecommunications Business Act that prevent app marketers like Google and Apple from forcing certain payment methods, unfairly delaying the review of mobile content and unfairly… Source link

Visitors look at Apple Inc. iPhones and iPads on display at the SK Telecom Co. T Factory flagship store in Seoul, South Korea, June 11, 2021. SeongJoon Cho | Bloomberg | Getty Images South Korea’s parliament has approved a bill that will make it the first country to impose curbs on Google and Apple’s payment policies that force developers to only use the tech giants’ proprietary billing systems. The legislation will become law once signed by President Moon Jae-in, whose party has been a vocal… Source link

After a number of delays, South Korea’s National Assembly today voted to approve the passage of its “Anti-Google law.” Nicknamed after the search giant but more wide-ranging, the law will prevent Google and Apple from forcing developers to use their in-app billing systems when building apps for their two market-dominating app stores . This is the first time globally that a government has intervened to prevent Google and Apple from imposing their own payment… Source link

SEOUL—Google and Apple Inc. will have to open their app stores to alternative payment systems in South Korea, threatening their lucrative commissions on digital sales. A bill passed Tuesday by South Korea’s National Assembly is the first in the world to dent the tech giants’ dominance over how apps on their platforms sell their digital goods. It will become law once signed by President Moon Jae-in, whose party strongly endorsed the legislation. The law… Source link

with Aaron Schaffer Welcome to The Technology 202! The newsletter is taking a brief summer break next week. We’ll be back in your inboxes full time after Labor Day. Thanks for reading. A proposal in South Korea aimed at reining in the power of Google’s and Apple’s app stores could serve as a test case for U.S. policymakers actively considering similar measures — or prove to be a cautionary tale.  A South Korean National Assembly committee on Wednesday voted to advance legislation that, if… Source link

The founders of South Africa-based crypto investment firm AfriCrypt have disappeared along with 69,000 bitcoins — worth an estimated $3.6 billion — according to a report from Bloomberg on Wednesday. In mid-April, AfriCrypt’s investors were sent an email claiming that the platform was shutting down and freezing all accounts following a hack that compromised client accounts, wallets, and nodes. Investors were reportedly asked not to report the hack to law enforcement, which the founders… Source link

Cryptocurrency investors in South Africa may have lost nearly $3.6 billion in Bitcoin following the disappearance of two brothers associated with one of the country’s largest cryptocurrency exchanges. According to Bloomberg, a law firm in Cape Town says it can’t locate Ameer and Raees Cajee, the founders of Africrypt. In April, the exchange told its investors it was the victim of a hack and asked them not to report the incident to the authorities on account it would “slow down” the… Source link

JOHANNESBURG (Reuters) – South African media and e-commerce group Naspers Ltd reported a 24% rise in profit for the year that ended March 31, boosted primarily by the performance of its investment in China’s Tencent Holdings, the company said on Monday. Africa’s biggest company by market capitalisation reported core headline earnings per share – the main gauge of corporate profit in South Africa – of 814 U.S. cents, up from 656 cents reported for the same period a year earlier. Its 28.9% stake… Source link

John F. Kerry, the special presidential envoy for climate, said only months ago that those losing fossil fuel jobs in coal and hydraulic fracturing will find they have a better choice in jobs in either the solar industry or as wind turbine technicians. That was then. Now, a wind blade manufacturing plant located in Aberdeen, South Dakota has announced it is shutting its doors permanently in less than two months. The disappearance of Molded Fiber Glass will displace over three hundred workers… Source link

Each time Texas attempted to stomp back into it, South Carolina answered. The No. 1 seed Gamecocks handled the six seed with ease in the Hemisfair region, 62-34, and are moving on to the Final Four. Texas didn’t score over the final 12:30 of the game. South Carolina, which finished the 2020 season as the No. 1 team in the country, plays the winner of No. 1 overall seed Stanford and No. 2 Louisville.   South Carolina shuts down Texas in final quarter South Carolina advanced with a balanced… Source link