Chipmaker disputed 2009 decision that it abused its market position in case dating back two decades The US chipmaker Intel has won a long-running battle to quash a fine of more than €1bn imposed by the European Commission for allegedly abusing its market dominance in the sale of computer chips. In a final ruling on Thursday, theEuropean court of justice upheld an earlier judgment that had quashed the €1.06bn (£880m) fine and partly dismissed the charges of anticompetitive behaviour. Continue reading...

The co-founder of Secret Escapes and LoveFilm is now offering tech solutions to help out tenants and landlords William Reeve is what he terms a “classic accidental landlord”. The serial entrepreneur didn’t intend to rent out his flat in central London, but had to give it up soon after gaining his first rung on the property ladder. “I got married while I was there and, much as I thought it was the perfect place, it turns out that some compromise was required,” he says. Instead of keeping it as a pied-à-terre, the flat now offers Reeve an insight into the needs of his customers at online platform Goodlord, which is designed to help lettings agents, landlords and tenants slash the admin time spent on renting. Continue reading...

ByteDance dismissed person in August it says ‘maliciously interfered’ with training of artificial intelligence models The owner of TikTok has sacked an intern for allegedly sabotaging an internal artificial intelligence project. ByteDance said it had dismissed the person in August after they “maliciously interfered” with the training of artificial intelligence (AI) models used in a research project. Continue reading...

Harry Stebbings says tax rules make Britain ‘a bad place to do business’ as he warns of entrepreneurs leaving Tech entrepreneurs will leave the UK “en masse” if the chancellor announces a significant increase in capital gains tax at this month’s budget, according to a leading industry investor. Harry Stebbings, a British podcaster turned investor who raised a $400m (£310m) fund this week, said the UK was “a bad place to do business” because of its tax environment. Continue reading...

Analysts criticise lack of detail about the ‘robotaxi’ showcased by CEO Elon Musk * Elon Musk unveils Tesla Cybercab self-driving robotaxi Tesla shares fell nearly 9% on Friday, wiping about $60bn (£45bn) from the company’s value, after the long-awaited unveiling of its so-called robotaxi failed to excite investors. Shares in the electric carmaker tumbled to $217 at market close following an event in Hollywood, where the chief executive, Elon Musk, revealed a much-hyped driverless vehicle. The stock price is down roughly 12% year-to-date. Continue reading...

Department of Justice examining ‘structural remedies’ to challenge tech corporation’s internet search monopoly * Business live – latest updates The US government may ask a judge to force the breakup of Google’s business as it attempts to challenge the tech corporation’s monopoly over the internet search market. The Department of Justice has filed court papers that say it is considering enforcing “structural remedies” that would prevent Google from using some of its products such as Chrome, Android and Play, which the DoJ argues give the company an advantage over rivals. Continue reading...

The startup behind ChatGP, which is reportedly planning to become a for-profit business, is now valued on par with Uber OpenAI has raised $6.6bn (£5bn) in a funding round that values the artificial intelligence business at $157bn, with chipmaker Nvidia and Japanese group SoftBank among its investors. The San Francisco-based startup, responsible for the ChatGPT chatbot, did not give details of a reported restructuring that will transform it into a for-profit business. The funding round was led by Thrive Capital, a US venture capital fund, and other backers include MGX, an Abu Dhabi-backed investment firm. Continue reading...

Event will push for greater transparency and aims to rank AI firms in terms of ability to meet climate goals World leaders at the next AI summit will focus on the impact on the environment and jobs, including the possibility of ranking the greenest AI companies, it has been announced. Rating artificial intelligence companies in terms of their ecological impact is among the proposals under consideration, while other areas being looked at include the effect on the labour market, giving all countries access to the technology, and bringing more states under the wing of global AI governance initiatives. Continue reading...

Ruling is a fillip for European Commission efforts to clamp down on ‘sweetheart’ tax deals * Business live – latest updates Apple has lost a high-profile, €13bn (£11bn) Irish tax battle with Brussels in a decision that will bolster the European Commission’s efforts to clamp down on favourable “sweetheart” tax deals for multinationals. The European court of justice (ECJ) ruling, which had been eagerly awaited, comes after years of legal wrangling over whether the European Commission was right to demand in 2016 that €13bn in “illegal” tax breaks for Apple should be repaid because it gave the iPhone maker an unfair advantage. Continue reading...

Oil and gas company to use artificial intelligence to speed up decision-making by engineers * Business live – latest updates The oil and gas supermajor BP is to use artificial intelligence to speed up the decision-making of its engineers, after signing a five-year deal with the US spy technology company Palantir. The British company plans to use large language models to automatically analyse data from its sites and produce advice to help humans come to conclusions. Continue reading...