Elon Musk to Sue Apple Over App Store Antitrust Claims Billionaire Elon Musk has announced that his artificial intelligence startup, xAI, will take legal action against Apple, accusing the tech giant of breaching antitrust rules through its management of App Store rankings. Musk alleged that Apple’s actions make it impossible for any AI company other than OpenAI to reach the top position in the App Store — a move he called an “unequivocal antitrust violation.” He said xAI would “take immediate legal action” in response. Musk Targets Apple Over App Rankings In a post on his social media platform X,…
Author: Kanika Sharma
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Trump-Backed World Liberty Financial Targets $1.5 Billion Fundraising World Liberty Financial, a cryptocurrency venture backed by US President Donald Trump’s family, is in talks with potential investors to raise $1.5 billion, Bloomberg News reported on Friday. The fundraising would establish a public company to hold the platform’s WLFI tokens. Fundraising Plans Still Taking Shape According to the report, the structure of the deal has not yet been finalised. Sources familiar with the matter said major investors from the crypto and technology sectors had been approached. Reuters was unable to independently verify the Bloomberg report. World Liberty Financial declined to comment…
Authorities Urge Stablecoin Brokers and Think Tanks to Halt Endorsements Chinese regulators have reportedly instructed local brokerages and research institutions to stop publishing studies and hosting events that promote stablecoins. According to Bloomberg News, the move is part of a broader effort to contain risks linked to the asset class and prevent potential financial instability. The guidance, issued in late July and early August, urged firms to cancel planned seminars and stop distributing research materials on stablecoin. Sources familiar with the matter told Bloomberg that the aim is to curb the rising influence of these digital assets. Concerns Over Fraud…
Slower growth forecast disappoints travel investors Airbnb shares fall 6% in premarket trading on Thursday after the company issued a weaker-than-expected outlook for the second half of 2025. The disappointing forecast came despite recent signs of recovery in the travel industry and has raised fresh doubts about the strength of consumer demand. Airbnb warned of slower growth in bookings, especially when compared to the same period last year, which saw a surge in travel to Asia and Latin America. The company also expects its night bookings growth to moderate in the fourth quarter. Additionally, its implied take rate—revenue as a share…
Growing Interest from Governments and Corporates French satellite operator Eutelsat reported stronger-than-expected annual earnings on Tuesday, driven by rising demand for its satellite internet services. Much of this growth came from government and corporate clients looking for alternatives to US-based providers like Elon Musk’s Starlink. As European governments seek to reduce their reliance on American services, Eutelsat has emerged as a home-grown contender. This shift has placed the Paris-based group under the spotlight in recent months. For the financial year ending 30 June, Eutelsat posted revenues of €1.23 billion from video, connectivity, and government services. This marked a 0.8% increase…
Firefly Aerospace Lifts IPO Price Range, Eyes $6 Billion Valuation Firefly Aerospace, a space start-up backed by Northrop Grumman, has raised the price range for its US initial public offering (IPO). The Texas-based firm is now aiming for a valuation of up to $6.04 billion. This move highlights growing investor interest in the commercial space sector. Revised IPO Pricing Reflects Strong Demand Firefly plans to raise $696.6 million through the sale of 16.2 million shares. The company has set the price range between $41 and $43 per share, up from its earlier range of $35 to $39. This increase suggests…
Dhruva Space: A New Chapter for Indo-Australian Space Collaboration Full-stack space engineering firm Dhruva Space is preparing for its first commercial mission, LEAP-1, scheduled for launch in the third quarter of 2025 aboard a SpaceX Falcon 9 rocket. This mission represents a major step in Dhruva Space’s evolution—from demonstrating its satellite technology to deploying customer-driven payloads. LEAP-1 will carry two innovative payloads on Dhruva Space’s indigenously developed P-30 satellite platform. The first, Akula Tech’s Nexus-01, features an advanced Artificial Intelligence (AI) module. The second, Esper Satellites’ OTR-2, includes a hyperspectral imager. This launch marks a significant Indo-Australian partnership, with additional…
SpaceX Launches Successful Mission Despite Weather Concerns An international team of four astronauts, Crew-11, safely reached the International Space Station (ISS) early on Saturday, August 2. They launched aboard a SpaceX Dragon capsule, beginning a routine NASA mission that may last longer than usual. The crew lifted off from NASA’s Kennedy Space Center in Florida at 11:43 a.m. ET on Friday, August 1. Despite gloomy weather, the Falcon 9 rocket carried them smoothly into orbit. The successful launch came after an earlier attempt on Thursday had to be cancelled due to poor weather conditions. Meet the Crew of Mission Crew-11…
NASA and Russia Leaders Meet to Discuss Space Cooperation NASA’s temporary chief met face-to-face with the head of Russia’s space agency in Florida on Thursday, marking a rare moment of cooperation amid global tensions. The meeting took place at the Kennedy Space Center, where representatives from NASA and Russia, Sean Duffy and Roscosmos director Dmitry Bakanov talked about continued collaboration on the International Space Station (ISS) and potential joint efforts on the Moon. This was the first direct meeting between the two agencies’ leaders since 2018. It also came shortly after Duffy was appointed acting NASA administrator earlier this month,…
Elon Musk’s xAI to Sign EU AI Code Chapter on Safety and Security Elon Musk’s artificial intelligence company, xAI, announced on Thursday that it will sign the safety and security chapter of the European Union’s Code of Practice. This voluntary code is designed to help AI firms align with the EU’s upcoming artificial intelligence regulations. The EU code, created by 13 independent experts, includes three chapters: transparency, copyright, and safety and security. xAI’s decision to sign only the safety and security section reflects its selective support for the EU’s AI framework. Safety Commitment Amid Broader Criticism xAI stated on social…