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India’s antitrust watchdog orders probe into Google in smart TVs suit

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NEW DELHI (Reuters) – India’s antitrust watchdog on Tuesday ordered an investigation into allegations that Alphabet Inc’s Google abused its Android operating system’s position in the country’s smart television market.

The Competition Commission of India (CCI), which last year began looking into a case filed by two lawyers against the U.S. tech giant, said its initial review found Google had breached certain anti-competitive laws.

The CCI said that based on information available, including submissions made by Google, it was “convinced that a case is made out for directing an investigation” by the CCI director general.

Google has denied wrongdoing. In a statement on Tuesday, it said the emerging smart TV sector in India was thriving in part due to Google’s free licensing model and said Android TV competed with several well-established TV operating systems.

“We are confident that our smart TV licensing practices are in compliance with all applicable competition laws,” a company spokesperson said.

Smart TVs, or WiFi-enabled TVs with apps for streaming services, are increasingly popular. Data from Counterpoint Research shows 8 million smart TV sets were sold in India in 2019, with three in five based on Google’s Android system.

Kshitiz Arya and Purushottam Anand, two Indian lawyers who filed the case, told Reuters they welcomed the probe, saying Google had restricted the development of many virtual goods and services.

The case will be Google’s third ongoing antitrust investigation in India, where it faces a probe into its payments app and Android mobile operating system. Reuters reported https://www.reuters.com/world/india/exclusive-india-expedite-amazon-flipkart-antitrust-probe-tech-focus-intensifies-2021-06-15 last week that an investigation into the smart TV case was likely soon.

The CCI in June 2020 began looking https://www.reuters.com/article/us-india-google-antitrust-exclusive-idCAKBN26S1M1 into allegations that Google engages in anti-competitive practices by creating barriers for firms wanting to use or develop modified versions of Android for smart TVs, such as Amazon Fire TV’s operating system.

The CCI order said Google occupied the “most significant” position in the relevant market of smart TVs and the initial probe had shown the U.S. firm curbed the ability of device-makers to sell devices operating on alternative versions of Android.

(Reporting by Zeba Siddiqui and Aditya Kalra in NEW DELHI; Editing by Edmund Blair)

Image Credit: Reuters

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Source: https://datafloq.com/read/indias-antitrust-watchdog-orders-probe-google-smart-tvs-suit/15690

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Synthetic gene circuits as tools for drug discovery

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Within mammalian systems, there exists enormous opportunity to use synthetic gene circuits to enhance phenotype-based drug discovery, to map the molecular origins of disease, and to validate therapeutics in complex cellular systems. While drug discovery has relied on marker staining and high-content imaging in cell-based assays, synthetic gene circuits expand the potential for precision and speed. Here we present a vision of how circuits can improve the speed and accuracy of drug discovery by enhancing the efficiency of hit triage, capturing disease-relevant dynamics in cell-based assays, and simplifying validation and readouts from organoids and microphysiological systems (MPS).
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Source: https://www.cell.com/trends/biotechnology/fulltext/S0167-7799(21)00137-2?rss=yes

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How much Mathematics do you need to know for Machine Learning?

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Mathematics For Machine Learning | Maths to understand ML Algorithms





















Learn everything about Analytics



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Source: https://www.analyticsvidhya.com/blog/2021/07/how-much-mathematics-do-you-need-to-know-for-machine-learning/

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Nokia lifts full-year forecast as turnaround takes root

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HELSINKI (Reuters) -Telecom equipment maker Nokia reported a stronger-than-expected second-quarter operating profit on Thursday and raised its full-year outlook as promised, thanks to a turnaround of its business.

The Finnish company’s April-June comparable operating profit rose to 682 million euros ($808.51 million) from 423 million euros a year earlier, beating the 408-million euro mean estimate in a Refinitiv poll of analysts.

Shifting geopolitics and a sharp round of cost cutting have put Nokia firmly back in the global 5G rollout race just a year after CEO Pekka Lundmark took the reins, allowing it to gain ground on Swedish arch-rival Ericsson.

“We have executed faster than planned on our strategy in the first half which provides us with a good foundation for the full year,” Lundmark said in a statement on Thursday, but added that Nokia still expects the 2021 second-half results to be less pronounced.

Nokia said it now expects full-year net sales of 21.7 billion-22.7 billion euros, up from its prior estimate of 20.6 billion-21.8 billion euros, with an operating profit margin of 10-12% instead of the 7% to 10% expected previously.

The company had announced on July 13 that it would raise its outlook, but did not provide any details.

($1 = 0.8435 euros)

(Reporting by Essi Lehto; editing by Terje Solsvik and Sriraj Kaluvila)

Image Credit: Reuters

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Source: https://datafloq.com/read/nokia-lifts-full-year-forecast-turnaround-takes-root/16713

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Robinhood, gateway to ‘meme’ stocks, raises $2.1 billion in IPO

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By Echo Wang and David French

(Reuters) -Robinhood Markets Inc, the owner of the trading app which emerged as the go-to destination for retail investors speculating on this year’s “meme’ stock trading frenzy, raised $2.1 billion in its initial public offering on Wednesday.

The company was seeking to capitalize on individual investors’ fascination with cryptocurrencies and stocks such as GameStop Corp, which have seen wild swings after becoming the subject of trading speculation on social media sites such as Reddit. Robinhood’s monthly active users surged from 11.7 million at the end of December to 21.3 million as of the end of June.

The IPO valued Robinhood at $31.8 billion, making it greater as a function of its revenue than many of its traditional rivals such as Charles Schwab Corp, but the offering priced at the bottom of the company’s indicated range.

Some investors stayed on the sidelines, citing concerns over the frothy valuation, the risk of regulators cracking down on Robinhood’s business, and even lingering anger with the company’s imposition of trading curbs when the meme stock trading frenzy flared up at the end of January.

Robinhood said it sold 55 million shares in the IPO at $38 apiece, the low end of its $38 to $42 price range. This makes it one of the most valuable U.S. companies to have gone public year-to-date, amid a red-hot market for new listings.

In an unusual move, Robinhood had said it would reserve between 20% and 35% of its shares for its users.

Robinhood’s platform allows users to make unlimited commission-free trades in stocks, exchange-traded funds, options and cryptocurrencies. Its simple interface made it popular with young investors trading from home during the COVID-19 pandemic.

Robinhood enraged some investors and U.S. lawmakers earlier this year when it restricted trading in some popular stocks following a 10-fold rise in deposit requirements at its clearinghouse. It has been at the center of many regulatory probes.

The company disclosed this week that it has received inquiries from U.S. regulators looking into whether its employees traded shares of GameStop and AMC Entertainment Holdings, Inc before the trading curbs were placed at the end of January.

In June, Robinhood agreed to pay nearly $70 million to settle an investigation by Wall Street’s own regulator, the Financial Industry Regulatory Authority, for “systemic” failures, including systems outages, providing “false or misleading” information, and weak options trading controls.

The brokerage has also been criticized for relying on “payment for order flow” for most of its revenue, under which it receives fees from market makers for routing trades to them and does not charge users for individual trades.

Critics argue the practice, which is used by many other brokers, creates a conflict of interest, on the grounds that it incentivizes brokers to send orders to whoever pays the higher fees. Robinhood contends that it routes trades based on what is cheapest for its users, and that charging a commission would be more expensive. The U.S. Securities and Exchange Commission is examining the practice.

Robinhood was founded in 2013 by Stanford University roommates Vlad Tenev and Baiju Bhatt. They will hold a majority of the voting power after the offering, these filings showed, with Bhatt having around 39% of the voting power of outstanding stock while Tenev will hold about 26.2%.

The company’s shares are scheduled to start trading on Nasdaq on Thursday under the ticker “HOOD”

Goldman Sachs and J.P. Morgan were the lead underwriters in Robinhood’s IPO.

(Reporting by Echo Wang and David French in New York; Editing by Leslie Adler)

Image Credit: Reuters

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Source: https://datafloq.com/read/robinhood-gateway-meme-stocks-raises-21-billion-ipo/16712

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