The Securities and Exchange Commission's possible plan to grant crypto companies relief from regulation to sell "tokenised" stocks risks harming investors, a group of stock exchanges said in a letter to the U.S. regulator this week. From a report: Several crypto companies plan to sell crypto tokens linked to listed equities to retail investors who want to get exposure to stocks without owning them directly. But to sell the products in the U.S., crypto companies which are not registered as broker-dealers would need the SEC to give them a no-action letter or an exemption. SEC Chair Paul Atkins has said the agency is working on crafting an "innovation exemption" from securities laws which would enable crypto players to experiment with new business models. The World Federation of Exchanges (WFE), a group whose members include the U.S. Nasdaq and Germany's Deutsche Boerse, said in a letter dated November 21 that an exemption could create market integrity risks and undermine investor protections. "The SEC should avoid granting exemptions to firms attempting to bypass regulatory principles that have safeguarded markets for decades," WFE CEO Nandini Sukumar told Reuters.

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An anonymous reader shares a report: The Pentagon concluded that Alibaba Group, Baidu and BYD should be added to a list of companies that aid the Chinese military, according to a letter to Congress sent roughly three weeks before Donald Trump and Xi Jinping agreed to a broad trade truce. Deputy Defense Secretary Stephen Feinberg informed lawmakers of the conclusion in the Oct. 7 letter, a copy of which was seen by Bloomberg News, to the heads of the House and Senate Armed Services Committees. It wasn't clear whether the companies have been formally included in the the Pentagon's so-called 1260H list, which carries no direct legal repercussions but serves as a major warning to US investors.

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OpenAI will need to raise at least $207 billion in new funding by 2030 to sustain operations while continuing to lose money, according to a new analysis from HSBC that models the company's cloud computing commitments against projected revenue. The bank's US software team updated its forecasts after OpenAI announced a $250 billion cloud compute rental deal with Microsoft in late October and a $38 billion deal with Amazon days later, bringing total contracted compute capacity to 36 gigawatts. HSBC projects cumulative rental costs of $792 billion through 2030. Revenue growth remains strong in the model -- the bank expects OpenAI to reach 3 billion users by decade's end, up from roughly 800 million today -- but costs rise in lockstep, meaning OpenAI will still be subsidizing users well into the next decade. If revenue growth disappoints and investors turn cautious, the company's best option might be walking away from some data center commitments.

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European manufacturers are facing a two-front assault from China that has German industry associations warning of deindustrialisation: on one side, artificially cheap Chinese goods are flooding into Europe, and on the other, Beijing has demonstrated its willingness to abruptly cut off access to critical inputs like rare earths and semiconductors. The alarm intensified in October when China added five rare earths to its export-licensing regime and then banned exports of computer chips made by Nexperia, a Dutch-headquartered but Chinese-owned chipmaker that supplies numerous European carmakers, according to The Economist. Several European firms warned of production stoppages, and some German companies put workers on leave without pay. Germany's trade deficit with China hit $76.52 billion last year and is expected to surge to around $100.87 billion this year, The Economist reported, driven by collapsing German exports and a rush of imports in categories like cars, chemicals, and machinery that were once German specialties. Chinese brands now account for 20% of Europe's hybrid market and 11% of electric vehicle sales. German cars command just 17% of the Chinese market, down from 27% in 2020. The rare earth controls were suspended for a year after the US and China struck a trade deal on October 30th, but the EU found itself a bystander to negotiations that directly affected its economy. Writing in the Financial Times, Robin Harding argues that China's explicit goal of self-sufficiency leaves Europe with few options. "There is nothing that China wants to import, nothing it does not believe it can make better and cheaper," he wrote, concluding that large-scale protectionism may be unavoidable if Europe wants to retain any industry at all.

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An anonymous reader shares a report: It is shocking but not surprising. Lightning crackles on Mars, scientists reported on Wednesday. What they observed, however, were not jagged, high-voltage bolts like those on Earth, arcing thousands of feet from cloud to ground. Rather, the phenomenon was more like the shock you feel when you scuff your feet on the carpet on a cold winter morning and then touch a metal doorknob. "This is like mini-lightning on Mars," Baptiste Chide, a scientist at the Research Institute in Astrophysics and Planetary Science in Toulouse, France, said of the centimeter-scale electrical discharges. Dr. Chide and his colleagues reported the findings in a paper published on Wednesday in the journal Nature. The electrical sparks, although not as dramatically violent as on Earth, could play an important role in chemical reactions in the Martian atmosphere.

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Dell has predicted PC sales will be flat next year, despite the potential of the AI PC and the slow replacement of Windows 10. From a report: "We have not completed the Windows 11 transition," COO Jeffrey Clarke said during Dell's Q3 earnings call on Tuesday. "In fact, if you were to look at it relative to the previous OS end of support, we are 10-12 points behind at that point with Windows 11 than we were the previous generation." Clarke said that means 500 million PCs can't run Windows 11, while the same number didn't need an upgrade to handle Microsoft's latest desktop OS. The COO therefore predicted the PC market will "flourish," but then defined the word as meaning "roughly flat" sales despite Dell chalking up mid-to high single digits PC sales growth over the last year.

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Apple will retake its crown as the world's largest smartphone maker for the first time in more than a decade, lifted by the successful debut of a new iPhone series and a rush of consumers upgrading devices, according to Counterpoint Research. From a report: The iPhone 17 models introduced in September have been a hit both domestically in the US and in Apple's other critical market, China. They've enticed more people to upgrade, leading to double-digit year-over-year sales growth in both markets, according to the researchers. The US company also is benefiting from a cooling of US-China trade tensions and a depreciating dollar that has boosted purchases in emerging markets, they added. The growth will propel Apple past longtime rival Samsung this year, according to Counterpoint's figures. Shipments of the iPhone are set to grow at 10% in 2025, compared with 4.6% for Samsung.

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An anonymous reader shares a report: AI is not a core part of operations at most of the world's central banks and digital assets are off the table, according to a survey released on Wednesday by the Official Monetary and Financial Institutions Forum. The working group of 10 central banks from Europe, Africa, Latin America and Asia managing roughly $6.5 trillion in assets also found that the institutions that have delved deepest so far into AI are the most cautious about the risks. The primary concern is that AI-driven behaviour could "accelerate future crises," the survey showed. "AI helps us see more, but decisions must remain with people," one participant was quoted as saying in the group's report. More than 60% of respondents said that AI tools - which have sparked layoffs already at technology companies and retail and investment banks - are not yet supporting core operations.

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The roughly 500 fiber-optic cables lying on the ocean floor carry more than 95% of all internet data -- not satellites, as many might assume -- and they face growing threats from natural disasters, terrorists and nation-states capable of disrupting global communications by dragging anchors or deploying submarines against the infrastructure. The cables are protected by layers of copper, steel, and plastics, but they remain vulnerable at multiple points: earthquakes can disturb them on the seafloor, and the connections where cables meet land-based infrastructure present targets for bad actors. National actors including Russia, China and the US possess the capability to attack these cables. A bipartisan Senate bill co-sponsored by Democrat Jeanne Shaheen and Republican John Barrasso is under consideration. The legislation would require a report to Congress within six months on Chinese and Russian sabotage efforts, mandate sanctions against foreign parties responsible for attacks, and direct the US to provide more resources for cable protection and repair.

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Malaysia's Johor, one of Southeast Asia's fastest-growing data center hubs, has announced it will no longer approve applications for Tier 1 and Tier 2 data centers because of their enormous water consumption -- up to 50 million liters daily, or roughly 200 times what higher-tier facilities require. The Malaysian state has approved 51 data center projects as of November 2025. 17 centers are already operational, 11 are under construction and 23 received approval this year. The announcement follows concerns raised by a local politician who pointed to water supply disruptions in Georgia in the US after a data center began operations and protests in Uruguay over fears that data centers could affect farms.

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Up to 3 million low-skilled jobs could disappear in the UK by 2035 because of automation and AI, according to a report by a leading educational research charity. The Guardian: The jobs most at risk are those in occupations such as trades, machine operations and administrative roles, the National Foundation for Educational Research (NFER) said. Highly skilled professionals, on the other hand, were forecast to be more in demand as AI and technological advances increase workloads "at least in the short to medium term." Overall, the report expects the UK economy to add 2.3 million jobs by 2035, but unevenly distributed. The findings stand in contrast to other recent research suggesting AI will affect highly skilled, technical occupations such as software engineering and management consultancy more than trades and manual work.

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Chinese automakers may not be able to sell their electric vehicles in the United States due to steep tariffs and software restrictions, but they have found an alternative path to American eyeballs through a coordinated campaign targeting car influencers on YouTube, TikTok, and Instagram. The effort, the Verge reports, is largely organized by DCar Studio, a platform that invites US-based creators to Los Angeles to test-drive vehicles from brands like BYD, Geely and Xiaomi. DCar is actually Dongchedi, a car trading platform owned by TikTok parent ByteDance that raised $600 million on a $3 billion valuation in 2024. The strategy appears aimed at building global brand awareness rather than direct US sales. Mark Greeven, professor at IMD Business School, told The Verge that American influencers still shape opinions across the Western world. "The charm offensive is to work with American influencers about Chinese EV cars because we still have a dominant opinion in the Western world, which is formed by English-speaking influential figures on social media," he said. Several creators told The Verge they have heard rumors of undisclosed payments for positive coverage.

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The Justice Department has reached an agreement to settle an antitrust lawsuit against RealPage, a real estate software company that the government accused of enabling landlords to collude to raise rents. From a report: Using RealPage software, landlords shared information about their rents and occupancy rates with the company, after which an algorithm suggested what to charge renters. The government's suit, which was joined by several state attorneys general, accused RealPage of taking the confidential information and suggesting rents higher than those in a free market. Under the settlement proposal, which requires approval by a federal judge overseeing the case in the Middle District of North Carolina, RealPage's software could no longer use information about current leases to train its algorithm. Nonpublic data from competing landlords would also be excluded when suggesting rents. "Competing companies must make independent pricing decisions, and with the rise of algorithmic and artificial intelligence tools, we will remain at the forefront of vigorous antitrust enforcement," said Gail Slater, who leads the antitrust division at the Department of Justice, in a news release.

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schwit1 writes: Indonesia's capital, Jakarta, tops a ranking that is increasingly dominated by Asia: the world's most populated city. It edged out Bangladesh's capital, Dhaka, and Japan's Tokyo to earn the title in a new United Nations report. [PDF] With an estimated population of nearly 42 million residents, Jakarta soared from 33rd place in the previous rankings, in 2018, that were topped by Tokyo. It's followed by Dhaka, with 36 million, which the report says is "expected to become the world's largest city by mid-century."

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An anonymous reader shares a report: CISA has warned that state-backed snoops and cyber-mercenaries are actively abusing commercial spyware to break into Signal and WhatsApp accounts, hijack devices, and quietly rummage through the phones of what the agency calls "high-value" users. In an alert published Monday, the US government's cyber agency said it's tracking multiple miscreants that are using a mix of phishing, bogus QR codes, malicious app impersonation, and, in some cases, full-blown zero-click exploits to compromise messaging apps which most people assume are safe. The agency says the activity it's seeing suggests an increasing focus on "high-value" individuals -- everyone from current and former senior government, military, and political officials to civil society groups across the US, the Middle East, and Europe. In many of the campaigns, attackers delivered spyware first and asked questions later, using the foothold to deploy more payloads and deepen their access.

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Two coal plants in Mumbai (in India) that were scheduled to close last year continue operating after the state government of Maharashtra reversed shutdown decisions in late 2023 and extended the life of at least one facility by five years. The largest single factor the Indian conglomerate Tata cited in its petition for an extension was increased energy demand from data centers. The Guardian reports that Amazon operated 16 data centers in Mumbai last year. The company's official website lists three "availability zones" for the city. Amazon's Mumbai colocation data centers consumed 624,518 megawatt hours of electricity in 2023. That amount could power over 400,000 Indian households for a year. Residents of Mahul live a few hundred metres from one coal plant. Earlier this year doctors found three tumours in the brain of a resident's 54-year-old mother. Studies show people who live near coal plants are much more likely to develop cancer. By 2030 data centers will consume a third of Mumbai's energy, according to Ankit Saraiya, chief executive of Techno & Electric Engineering. Amazon's colocation data centers in Mumbai bought 41 diesel generators as backup. A report in August by the Center for Study of Science, Technology and Policy identified diesel generators as a major source of air pollution in the region.

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Nvidia pushed back against investor concerns about Google's competitive positioning in AI on Tuesday after the chipmaker's shares tumbled 4.4% and erased nearly $200 billion in market cap on fears that Alphabet's tensor processing units were gaining ground against its dominance in AI computing. The company said it was "delighted by Google's success" but asserted that it continues to supply chips to Google. Nvidia said it remains "a generation ahead of the industry" as the only platform that runs every AI model and operates everywhere computing is done. The statement came after investors reacted to the release of Google's Gemini 3 large language model last week. The model was trained using TPUs rather than Nvidia chips. A report in The Information on Monday said Google was pitching potential clients including Meta on using TPUs in their data centers rather than Nvidia's chips. Nvidia said its platform offers "greater performance, versatility, and fungibility than ASICs," referring to application-specific integrated circuits like Google's TPUs that are designed for specific AI frameworks or functions. Google's TPUs have until now only been available for customers to rent through its cloud computing service. Nvidia has lost more than $800 billion in market value since it peaked above $5 trillion less than a month ago.

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The abstract of a paper on NBER: This paper examines a large-scale randomized evaluation of the One Laptop Per Child (OLPC) program in 531 Peruvian rural primary schools. We use administrative data on academic performance and grade progression over 10 years to estimate the long-run effects of increased computer access on (i) school performance over time and (ii) students' educational trajectories. Following schools over time, we find no significant effects on academic performance but some evidence of negative effects on grade progression. Following students over time, we find no significant effects on primary and secondary completion, academic performance in secondary school, or university enrollment. Survey data indicate that computer access significantly improved students' computer skills but not their cognitive skills; treated teachers received some training but did not improve their digital skills and showed limited use of technology in classrooms, suggesting the need for additional pedagogical support.

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The brain goes through five distinct phases in life, with key turning points at ages nine, 32, 66 and 83, scientists have revealed. From a report: Around 4,000 people up to the age of 90 had scans to reveal the connections between their brain cells. Researchers at the University of Cambridge showed that the brain stays in the adolescent phase until our early thirties when we "peak." They say the results could help us understand why the risk of mental health disorders and dementia varies through life. The brain is constantly changing in response to new knowledge and experience -- but the research shows this is not one smooth pattern from birth to death. Some people will reach these landmarks earlier or later than others -- but the researchers said it was striking how clearly these ages stood out in the data. These patterns have only now been revealed due to the quantity of brain scans available in the study, which was published in the journal Nature Communications.

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An anonymous reader shares a report: Solid-state drives sitting unpowered in drawers or storage can lose data over time because voltage gradually leaks from their NAND flash cells, and consumer-grade drives using QLC NAND retain data for about a year while TLC NAND lasts up to three years without power. More expensive MLC and SLC NAND can hold data for five and ten years respectively. The voltage loss can result in missing data or completely unusable drives. Hard drives remain more resistant to power loss despite their susceptibility to bit rot. Most users relying on SSDs for primary storage in regularly powered computers face little risk since drives typically stay unpowered for only a few months at most. The concern mainly affects creative professionals and researchers who need long-term archival storage.

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