Google, Facebook will be subject to competition code from new UK unit

  • The UK on Friday introduced a new “pro-competition” watchdog to regulate Google, Facebook, and others.
  • The Digital Markets Unit will enforce a new code, adding data-transparency requirements and helping small businesses promote themselves online, according to the announcement.
  • Ronan Harris, vice president of Google UK & Ireland, said the search giant looks forward to “working constructively” with the new unit.
  • From April 2021, the unit “could be given powers to suspend, block and reverse decisions of tech giants,” the government said. 
  • Visit Business Insider’s homepage for more stories.

The UK on Friday announced a government unit to enforce a new competition code on Google, Facebook, and other tech giants, beginning in April 2021.

The business secretary, Alok Sharma, said in a statement that companies like Google and Facebook make a “significant contribution” to the UK economy, but “the dominance of just a few big tech companies is leading to less

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Defense Innovation Unit (DIU) Selects Immervision InnovationLab to Develop a Computer Vision Wide Angle Camera for the Blue UAS Framework Project

MONTREAL–(BUSINESS WIRE)–Immervision, the Montreal-based leader in wide-angle intelligent vision, today announced it has received an award from the Defense Innovation Unit (DIU), part of the U.S. Department of Defense (DoD) for a Blue UAS Framework effort.

The Immervision InnovationLab team is developing a wide-angle computer vision camera for small Unmanned Aerial Systems (sUAS), enabling advanced low-light vision for Blue UAS Framework effort which provides affordable, trusted, high performing, and interoperable UAS drone technologies for commercial and defense applications.

“We are honored that the Defense Innovation Unit has chosen Immervision’s InnovationLab to create this innovative wide angle computer vision camera optimized for drones in low light vision and autonomous flight,” said Alessandro Gasparini, Executive Vice President, Operations and Chief Commercial Officer of Immervision. “Immervision’s technology has been widely adopted in aerospace, surveillance systems and for consumer electronics for over 20 years. We look forward to working with the DIU

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Short Sellers Target Ping An’s Fintech Unit After Ant IPO Fiasco

(Bloomberg) — The headwinds that toppled Ant Group Co.’s initial public offering now threaten a $22 billion dream of China’s Ping An Insurance (Group) Co. — to pivot from a finance group to a tech giant and be valued like one.

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While Ping An’s Lufax Holding Ltd., which offers wealth management and retail lending services, was able to complete its U.S. IPO days before new Chinese rules torpedoed Ant’s $35 billion sale, the stock has given up early gains and is now a target for short sellers. Renewed threats by U.S. regulators to delist Chinese stocks also threaten Ping An’s plans to take more of its in-house startups public.

Ant’s IPO suspension “fundamentally changed near-term investment appetite” for Chinese fintech stocks, with Lufax as “the community’s No. 1 consensus short,” according to a Nov. 5 report from Procensus, which polled 84 global investors managing $15.3 trillion. Short interest

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Uber is reportedly in talks to sell its self-driving unit

After years of development and some shocking incidents, the next step for Uber’s self-driving unit could be a sale. As first reported by TechCrunchand later Reuters, anonymous sources say Uber is in talks with self-driving tech startup Aurora about a sale, and the discussions have gone on since October.



a car parked on a city street: An Uber car equipped with cameras and sensors drives the streets of Washington, DC, on January 24, 2020. - Uber Advanced Technologies Group (ATG) announced it would begin data collection for self-driving vehicles on Washington, DC, roads beginning January 24. ATG self-driving vehicles - operated by two human drivers, better known as Mission Specialists - will collect road data to support the development of Ubers self-driving vehicle technology. (Photo by Eric BARADAT / AFP) (Photo by ERIC BARADAT/AFP via Getty Images)


An Uber car equipped with cameras and sensors drives the streets of Washington, DC, on January 24, 2020. – Uber Advanced Technologies Group (ATG) announced it would begin data collection for self-driving vehicles on Washington, DC, roads beginning January 24. ATG self-driving vehicles – operated by two human drivers, better known as Mission Specialists – will collect road data to support the development of Ubers self-driving vehicle technology. (Photo by Eric BARADAT / AFP) (Photo by ERIC BARADAT/AFP via Getty Images)

Last year Toyota, Softbank and Denso teamed up to invest $1 billion in Uber ATG in a deal

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Uber in talks to sell its ATG self-driving unit to Aurora – source

FILE PHOTO: An Uber sticker is seen on driver Margaret Bordelon’s car in Lafayette, Louisiana, U.S. February 16, 2020. REUTERS/Callaghan O’Hare

(Reuters) – Uber Technologies Inc UBER.N is in talks to sell its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, a source familiar with the matter told Reuters.

The talks are still ongoing and there is no certainty a deal could be reached, the source said, adding that Uber is also considering taking stake in the new company if Aurora takes over ATG.

Uber’s ATG, which works to develop autonomous driving technology, counts Toyota Motor Corp 7203.T and SoftBank Group Corp 9984.T among its investors. Earlier last year, the unit had raised $1 billion (758 million pounds) from a consortium of investors including SoftBank, that valued it at $7.25 billion.

Uber has been seeking options for its autonomous vehicle divisions, a heavy cash burn

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