Author: techbizweb

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Alibaba and start-up Biren Technology are tweaking their most advanced chip designs to reduce processing speeds and avoid US-imposed sanctions aimed at suppressing Chinese computing power.Alibaba, Biren and other Chinese design houses have spent years and millions of dollars creating the blueprints for advanced processors to power the country’s next generation of supercomputers, artificial intelligence algorithms and data centres. These are produced offshore by the world’s biggest contract chipmaker Taiwan Semiconductor Manufacturing Company (TSMC). But sanctions announced by Washington last month that cap the processing power of any semiconductor shipped into China without a licence have thrown a wrench into their…

Apple says to expect “longer wait times” if you plan on ordering an iPhone 14 Pro or 14 Pro Max. In a press release, the company explains that covid restrictions are affecting its iPhone factory in Zhengzhou, China, which is currently “operating at significantly reduced capacity.”“We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models,” Apple says. “However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated and customers will experience longer wait times to receive their new products.”In October, a report from Reuters revealed that…

According to a recent white paper by American multinational investment bank, Citi, the mainstream adoption of distributed ledger technology (DLT) is now growing rapidly among the financial market infrastructures and global market participants. Per the survey conducted, roughly 88% disclosed to Citi that their organizations are not only actively taking part in digital assets or DLT, but they are also exploring it. Another percentage of about 92%, said tokenization is advantageous to market liquidity and tradable-asset variety.   Okan Pekin, global head of securities services at Citi, stated,   “We are seeing a greater sense of momentum and purpose…

At a military academy on the outskirts of Warsaw, accountant Dorota Pakieła was learning how to roll over on the ground while keeping her assault rifle pointed at the enemy. She also got to lob a hand grenade, put on a gas mask and use a compass to navigate her way through the rubble of a “bombed city”. Pakieła was taking part in the Polish military’s new training programme to prepare civilians for a possible Russian attack following Moscow’s invasion of neighbouring Ukraine. The one-day programme was launched last month and is run by 17 military units across Poland. Pakieła,…

Meta’s planning major job cuts that could affect “thousands” of workers, according to a report from The Wall Street Journal. Sources familiar with the situation told the WSJ that the layoffs could begin as soon as Wednesday.The Facebook and Instagram parent company reported over 87,000 employees at the end of September, but these “large-scale” layoffs are expected to slash a significant portion of staff members. According to the WSJ, the layoffs could hit Meta even harder than the mass job cuts at Twitter, which affected about half of the company’s 7,500-employee workforce. Meta declined to comment on the situation but…

Texture, the Decentralized Finance (DeFi) platform running on the Solana blockchain, has raised $5 million in a financing round with collaboration from heavyweights in both traditional finance and the digital ecosystem. According to a tweet by the platform, the investment firm P2P Capital and Sino Global Capital co-led the financing session. Other notable investors in Texture’s fundraising include Semantic Ventures, Wintermute, and Jane Street Capital, amongst others. Although the funds’ valuation was not revealed, the funds were raised in stablecoin USDC with the aim to build yield management tools.   Interestingly, the fund-raise made the platform live in private beta…

In North Berwick, a seaside town half an hour east of Edinburgh by train, a search for pandemic silver linings leads to the Bass Rock community group.Until coronavirus hit, the group — named after the volcanic rock and seabird haven that sits in the Firth of Forth — did not exist. It’s the legacy of a “resilience group” set up by the town to deal with the immediate impact of the virus. Now two dozen or so volunteers devote evenings and weekends to local causes: refurbishing benches around the picturesque harbour, running fundraisers for the local high school or helping…

Michael J. Saylor, Co-founder of Microstrategy has made claims that he believes the use of Bitcoin (BTC) is the solution to the financial crisis that is being experienced in Lebanon as the country’s currency has lost 96% of its value against the U.S. Dollar (USD). Saylor gave the opinion on Twitter as he claimed that the commercial banks had failed the country. Lebanon, a country long famed for its stable and investment-friendly financial system, has slid into anarchy as hyperinflation grips the country and banks impose hefty cuts on dollar withdrawals.   The use of digital assets became a thing…

Beijing has quashed hopes for an immediate easing of the country’s rigid zero-Covid restrictions, setting China-linked shares up for more volatile trading on Monday, analysts said.China’s National Health Commission reiterated the country’s commitment to eliminating Covid-19 at a press conference on Saturday and warned that the situation was set to become even “more severe and complex” as the country entered the winter flu season.“Practice has proved that our pandemic prevention and control strategy . . . [is] completely correct, and such measures are proven the most economical and effective,” said Hu Xiang, an official with the NHC.Investors last week seized on rumours that Beijing…