Techlife News #522

Read the most relevant news of the week about the world of technology and its influence on our lives. New products, Apps, acquisitions in the industry, highlights about the digital world and everything about your favorite iGadgets and upgrades. Everything you need to keep well informed. A new concept of light, intelligent, innovative reading at your fingertips. A global view of Tech LifeStyle and its influence on our lives.

United States
Ivan Castilho de Almeida
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52 Issues

in this issue

3 min
in the middle of a crisis, facebook inc. renames itself meta

An embattled Facebook Inc. is changing its name to Meta Platforms Inc., or Meta for short, to reflect what CEO Mark Zuckerberg says is its commitment to developing the new surround-yourself technology known as the “metaverse.” But the social network itself will still be called Facebook. Skeptics immediately accused the company Thursday of trying to change the subject from the Facebook Papers, the trove of leaked documents that have plunged it into the biggest crisis since it was founded in Zuckerberg’s Harvard dorm room 17 years ago. The documents portray Facebook as putting profits ahead of ridding its platform of hate, political strife and misinformation around the world. Marketing consultant Laura Ries likened the move to BP rebranding itself to “Beyond Petroleum” to escape criticism that the oil giant harmed the environment. “Facebook…

2 min
eu investigates nvidia’s purchase of chip designer arm

European Union regulators opened an investigation this week into graphics chipmaker Nvidia’s $40 billion purchase of chip designer Arm over concerns it would limit competition, adding to global scrutiny of the deal. The European Commission said it’s concerned the combined company would have the ability and incentive to restrict access to technology from United Kingdom-based Arm Ltd., whose chip designs power the vast majority of the world’s smartphones. The commission, which is the EU’s top antitrust authority, said it worried the deal would result in higher prices, less choice and reduced innovation in the semiconductor industry. Nvidia Corp., based in Santa Clara, California, said last year that it was buying Arm from Japanese technology giant Softbank. The deal raised concerns that Arm would abandon its neutral business model of licensing its chip designs…

2 min
resurgent demand drives caterpillar sales in third quarter

Bustling construction sites, active drilling for energy and re-engagement in mines and other heavy industries doubled third quarter profits at Caterpillar and drove sales up 25% as the global economy emerges from a pandemic. Executives with the heavy machinery company said that sales, which were shy of Wall Street expectations, would have been stronger if not for global supply chains snarled by the reawakening of industries across the board, that have jammed major ports and driven prices higher. Revenue reached $12.4 billion, up from $9.88 billion last year and in the company’s construction industry unit, revenue rose to $5.26 billion, from $4.06 billion in the same period in 2020. “We experienced supply chain challenges like many other industrial companies,” Chairman and CEO Jim Umpleby said in a conference call Thursday. “We believe our…

2 min
energy prices lift oil and gas stocks, weigh on the economy

Energy prices are soaring in 2021 and oil and gas stocks are the clear winners, but the losers might just turn out to be businesses and consumers. The energy sector has far outpaced the broader market in 2021. The S&P 500’s energy stocks are up more than 50%, compared with a roughly 20% gain for the overall index. Devon Energy, Marathon Oil and Occidental Petroleum have all more than doubled in value this year. While energy stocks are reaping the benefits from high demand and lagging supplies, other areas of the economy are having a tougher time coping. Surging oil and gas prices are adding to broader inflation pressures that are squeezing businesses and driving up costs. A wide range of manufacturers are finding it more costly to ramp up operations as energy…

4 min
skypod firm in uae tied to investment company flagged abroad

The small, four-seat pod glides above the sands of a test track in Sharjah in the United Arab Emirates, a futuristic transit solution promoted by a Belarusian firm that hopes to secure contracts here in the near future. Inviting journalists to see their test track Thursday, firm uSky showed off what they described as an energy-efficient, smart solution to fly above traffic across the Emirates, a country home to skyscraper-studded Dubai that long has embraced anything futuristic. However, uSky has ties back to a Belarusian investment firm called SkyWay that has seen multiple nations in Europe and elsewhere issue warnings to investors that they “may be involved in a scam.” Proposals to deploy the technology have been examined and abandoned in several nations as well. Creator Anatoli Unitsky brushed aside questions about the…

3 min
un, us officials urge action to avert climate disaster

The U.N.’s top human rights official and U.S. President Joe Biden’s climate envoy called Thursday for countries to step up the fight against global warming, describing it as an issue of sheer survival for humankind. In a statement ahead of the U.N. climate summit in Glasgow, the global body’s High Commissioner for Human Rights said “only urgent, priority action can mitigate or avert disasters that will have huge — and in some cases lethal — impacts on all of us, especially our children and grandchildren.” Michelle Bachelet urged governments taking part in the Oct. 31-Nov. 13 climate meeting to make good on pledges of financial aid to help poor countries that are most at risk to reduce their greenhouse gas emissions and cope with the impacts of global warming. “This is a human…