The Dubai Court of First Instance has declared that cryptocurrency can be used as a legal form of salary under employment contracts. CoinTelegraph reports: Irina Heaver, a partner at UAE law firm NeosLegal, explained that the ruling in case number 1739 of 2024 shows a shift from the court's earlier stance in 2023, where a similar claim was denied because the crypto involved lacked precise valuation. Heaver believes this shows a "progressive approach" to integrating digital currencies into the country's legal and economic framework. Heaver said that the case involved an employee who filed a lawsuit claiming that the employer had not paid their wages, wrongful termination compensation and other benefits. The worker's employment contract stipulated a monthly salary in fiat and 5,250 in EcoWatt tokens. The dispute stems from the employer's inability to pay the tokens portion of the employee's salary in six months.

In 2023, the court acknowledged the inclusion of the EcoWatts tokens in the contract. Still, it did not enforce the payment in crypto, as the employee failed to provide a clear method for valuing the currency in fiat terms. "This decision reflected a traditional viewpoint, emphasizing the need for concrete evidence when dealing with unconventional payment forms," Heaver said. However, the lawyer said that in 2024, the court "took a step forward," ruling in favor of the employee and ordering the payment of the crypto salary as per the employment contract without converting it into fiat. Heaver added that the court's reliance on the UAE Civil Transactions Law and Federal Decree-Law No. 33 of 2021 in both judgments shows the consistent application of legal principles in wage determination.

An anonymous reader quotes a report from Ars Technica: Anova, a company that sells smart sous vide cookers, is getting backlash from customers after announcing that it will soon charge a subscription fee for the device's companion app. Anova was founded in 2013 and sells sous vide immersion circulators. Its current third-generation Precision Cooker 3.0 has an MSRP of $200. Anova also sells a $149 model and a $400 version that targets professionals. It debuted the free Anova Culinary App in 2014. In a blog post on Thursday, Anova CEO and cofounder Stephen Svajian announced that starting on August 21, people who sign up to use the Anova Culinary App with the cooking devices will have to pay $2 per month, or $10 per year. The app does various things depending on the paired cooker, but it typically offers sous vide cooking guides, cooking notifications, and the ability to view, save, bookmark, and share recipes. The subscription fee will only apply to people who make an account after August 21. Those who downloaded the app and made an account before August 21 won't have to pay. But everyone will have to make an account; some people have been using the app without one until now.

"You helped us build Anova, and our intent is that you will be grandfathered in forever," Svajian wrote. According to Svajian, the subscription fees are necessary so Anova can "continue delivering the exceptional service and innovative recipes" and "maintain and enhance the app, ensuring it remains a valuable resource." As Digital Trends pointed out, the announcement follows an Anova statement saying it will no longer let users remotely control their kitchen gadgets via Bluetooth starting on September 28, 2025. This means that remote control via the app will only be possible for models offering and using Wi-Fi connectivity. Owners of affected devices will no longer be able to access their device via the Anova app, get notifications, or use status monitoring. Users will still be able to manually set the time, temperature, and timer via the device itself.

A federal judge blocked the launch of Venu, a sports streaming joint venture by Disney, Fox, and Warner Bros. Discovery, due to concerns it would substantially lessen competition and harm FuboTV. Variety reports: Fubo launched in 2015 as a start-up focused on streaming sports programming. [...] Venu, expected to launch in late August ahead of the start of the NFL's coming fall season and priced at an initial price tag of $42.99 per month, was to carry all of the sports offerings of ESPN, Fox Sports 1 and 2, and TNT for a price that is seen as more than a regional sports network but less than a full programming package available via YouTube TV or Hulu + Live TV. The three parent companies are targeting a new generation of consumers who disdain the high costs of traditional cable packages are more at home with signing up for streaming venues that are relatively easy to get in and out of based on the availability of favorite entertainment programs or sporting events.

Judge Garnett found that once Venu launches, FuboTV would face "a swift exodus" of large numbers of subscribers, and indicated she felt "that Fubo's bankruptcy and delisting of the company's stock will likely soon follow. These are quintessential harms that money cannot adequately repair." Fubo alleged that Venu's launch "will cause it to lose approximately 300,000 to 400,000 (or nearly 30%) of its subscribers, suffer a significant decline in its ability to attract new subscribers, lose between $75 and $95 million in revenue, and be transformed into a penny stock awaiting delisting from the New York Stock Exchange, all before year-end 2024," the judge said in her decision. "We respectfully disagree with the court's ruling and are appealing it," Disney, Fox and Warner Bros. Discovery said in a statement. "We believe that Fubo's arguments are wrong on the facts and the law, and that Fubo has failed to prove it is legally entitled to a preliminary injunction. Venu Sports is a pro-competitive option that aims to enhance consumer choice by reaching a segment of viewers who currently are not served by existing subscription options."

An anonymous reader shares a report: Traffic along some of Seattle's stop-and-go streets is running a little smoother after Google tested out a new machine-learning system to optimize stoplight timing at five intersections. The company launched this test as part of its Green Light pilot program in 2023 in Seattle and a dozen other cities, including some notoriously congested places such as Rio de Janeiro, Brazil, and Kolkata, India. Across these test sites, local traffic engineers use Green Light's suggestions -- based on artificial intelligence and Google Maps data -- to adjust stoplight timing. Google intends for these changes to curb waiting at lights while increasing vehicle flow across busy throughways and intersections -- and, ultimately, to reduce greenhouse gases.

"We have seen positive results," says Mariam Ali, a Seattle Department of Transportation spokesperson. Green Light has provided "specific, actionable recommendations," she adds, and it has identified bottlenecks (and confirmed known ones) within the traffic system.

Managing the movement of vehicles through urban streets requires lots of time, money and consideration of factors such as pedestrian safety and truck routes. Google's foray into the field is one of many ongoing attempts to modernize traffic engineering by incorporating GPS app data, connected cars and artificial intelligence. Preliminary data suggest the system could reduce stops by up to 30 percent and emissions at intersections by up to 10 percent as a result of reduced idling, according to Google's 2024 Environmental Report. The company plans to expand to more cities soon. The newfangled stoplight system doesn't come close to replacing human decision-making in traffic engineering, however, and it may not be the sustainability solution Google claims it is.

AltStore PAL, a third-party iOS app store available in the EU, has eliminated its annual 1.50-euro subscription fee after receiving a "MegaGrant" from Epic Games. This grant was awarded for "innovation in app distribution," allowing AltStore to cover Apple's Core Technology Fee without charging users. The Verge reports: Epic uses MegaGrants as a way to "sponsor the development of exciting projects that may not otherwise have enough funding to fully realize," the company says. The grants are typically meant for smaller teams using Epic's technologies to "bring bold, challenging, and insanely creative dreams to life," but in this case, Epic awarded the grant for "innovation in app distribution," according to AltStore. AltStore didn't share the dollar value of the grant.

Current subscribers won't be charged when their renewal date rolls around, AltStore says. The AltStore team also plans to "show our appreciation for our existing subscribers in a future update" but didn't specify what that might look like.

Eric Schmidt, ex-CEO and executive chairman at Google, walked back remarks in which he said his former company was losing the AI race because of its remote-work policies. From a report: "I misspoke about Google and their work hours," Schmidt said Wednesday in an email to The Wall Street Journal. "I regret my error." Schmidt, who left Google parent Alphabet's board more than five years ago, spoke earlier at a wide-ranging discussion at Stanford University. He criticized Google's remote-work policies in response to a question about Google competing with OpenAI. "Google decided that work-life balance and going home early and working from home was more important than winning," Schmidt said at Stanford. "The reason startups work is because the people work like hell."

Video of Schmidt's talk was posted on YouTube this week by Stanford Online, a division of the university that offers online courses. The video, which had more than 40,000 views as of Wednesday afternoon, has since been set to private. Schmidt said he asked for the video to be taken down.

Eric Schmidt, ex-CEO and executive chairman at Google, said his former company is losing the AI race and remote work is to blame. From a report: "Google decided that work-life balance and going home early and working from home was more important than winning," Schmidt said at a talk at Stanford University. "The reason startups work is because the people work like hell." Schmidt made the comments earlier at a wide-ranging discussion at Stanford. His remarks about Google's remote-work policies were in response to a question about Google competing with OpenAI.

Manny Fidel, reporting for Sherwood News: When you're immersed in a game like "Cyberpunk 2077," it's easy to get lost in its realism. As you run around the crowded streets of Night City, you notice the reflections of the city lights and neon signs in the puddles when it rains. Even the complexion and texture of a character's skin are enamoring. At full power, the game, created by CD Projekt Red, is a graphical marvel. It's also a symbol of a decades-long arms race between the biggest video game companies to make things look as real as possible. And then there are Nintendo games.

Take 2022's "Pokemon Scarlet" and "Pokemon Violet" on the Nintendo Switch. Despite being the latest releases in a legendary franchise, in terms of its graphics they could've easily been published 15 years ago. It's a perfect example of how, sometimes to the frustration of gamers, Nintendo seemingly refuses to step into the present day. None of its flagship games really compete with the rest of the industry's optical experiences. The graphics of games like "Red Dead Redemption 2," "Starfield," and "The Last of Us: Part II" are decades ahead of Nintendo.

But here's the thing: Nintendo doesn't have to catch up, nor does it want to. "Pokemon Scarlet" and "Pokemon Violet" sold 10 million copies during their launch weekend alone. According to IGN, Nintendo is responsible for three of the top five bestselling video game consoles of all time. Its characters -- Mario and Luigi, Link and Zelda, Pikachu and Ash -- have defined and are constantly redefining the industry. Nintendo is a money machine. It's been raking in more than $10 billion in revenue (more than 1.6 trillion yen) annually for the past several years, and its profits have grown sharply, topping out at about $3.3 billion in the fiscal year ended March 2024. For comparison, in its latest fiscal year, Sony's gaming division generated $29.1 billion of revenue and an operating profit of nearly $2 billion. Nintendo posted $11.4 billion of revenue and an operating profit of $3.6 billion.

An anonymous reader quotes a report from ExtremeTech: The family of a French mariner who died on the imploded Titan submersible last year has sued Titan's maker, OceanGate Expeditions, for more than $50 million. The lawsuit claims OceanGate is responsible for explorers' suffering immediately preceding their deaths, as well as for failing to disclose the extent of the submersible's risks. Among those risks are Titan's cheap materials, including the $30 Logitech gaming controller used aboard the vehicle. [...]

The lawsuit points at Titan's "hip, contemporary, wireless electronics system" and then alleges that none of the controllers or gauges inside Titan would operate without a constant source of power and a wireless signal. One of those controllers was a modified Logitech F710 Gamepad, a $30 to $40 device designed for, well, gaming. The gamepad quickly became the subject of internet mockery following the loss of Titan; some speculators said the submersible must have been doomed to fail if it used such cheap components. The lawsuit even claims the controller's Bluetooth (rather than wired) connectivity set it up for failure. Still, other speculators believe the controller wouldn't have had much impact on the submersible's operational durability. Instead, the issue would have been with the vehicle's carbon fiber pressure cylinder, which Rush allegedly bought off Boeing at a discount after the material passed its "airplane shelf life." Regardless of the exact material, it seems the consensus among members of the public is that for OceanGate, quality was an afterthought.

Civil servants in the UK are locked in a row with the government over plans to use AI to answer taxpayer complaints. The Telegraph: Letters and emails to the Treasury are already being read by an AI tool which summarises the contents and suggests responses for civil servants. The government is now in talks to use AI across more departments, The Telegraph understands. A government spokesman said: "We make no apology for exploring innovations which improve public services. This tool has already been in use for four months and has increased productivity by 30pc, helping us save taxpayers' money by stopping the need to use expensive contractors during busy periods.

"Staff at the Treasury will continue to write all public correspondence and make decisions on cases. This tool, which was developed by data science experts in the department, helps civil servants respond to thousands more questions quickly and on time." But the civil serrvice trade body, the Public and Commercial Services (PCS) union, warned that the AI tool could be developed "on the cheap," leading to correspondence being misread. Fran Heathcote, PCS general secretary, said that while the union has no objection in principle to AI, that training the tool "properly takes a long time and considerable resources." Ms Heathcote added: "Further, in anticipation of AI working well, staff numbers are cut so you get the worst of all worlds: a poorly functioning AI system with too few humans left behind to pick up the broken pieces."

In an effort to beef up protections for consumers against corporations, the Biden administration on Monday announced a handful of policies to crack down on "headaches and hassles that waste Americans' time and money." From a report: Through the Federal Trade Commission (FTC) and the Federal Communications Commission (FCC), the administration will ask companies to make it as easy to cancel subscriptions and memberships as it is to sign up for them, and through the Consumer Financial Protection Bureau, a new rule will require companies to let customers cut through automated customer service "doom loops" by pressing a single button to reach a real person.

"For a lot of services, it takes one or two clicks on your phone to sign up. It should take one or two clicks on your phone to end the service," White House Domestic Policy Advisor Neera Tanden said on a call with reporters to discuss the new policies. Consumers could see the new rule applied to gym memberships or subscriptions with phone and internet companies. The administration will also call on health insurance companies to allow claims to be submitted online, rather than requiring insured customers to print out and mail forms in for coverage.

"Zelle payments can't be reversed once they're sent," notes the Los Angeles Times — which could be why they're popular with scammers. "You can't simply stop the payment (like a check) or dispute it (like a credit card). Now, the federal regulator overseeing financial products is probing whether banks that offer Zelle to their account holders are doing enough to protect them against scams. Two major banks — JPMorgan Chase and Wells Fargo — disclosed in their security filings in the last week that they'd been contacted by the Consumer Financial Protection Bureau. According to the Wall Street Journal, which reported the filings Wednesday, the CFPB is exploring whether banks are moving quickly enough to shut down scammers' accounts and whether they're doing enough to identify and prevent scammers from signing up for accounts in the first place...

A J.D. Power survey this year found that 3% of the people who'd used Zelle said they had lost money to scammers, which was less than the average for peer-to-peer money transfer services such as Venmo, CashApp and PayPal. The chief executive of Early Warning Services, which runs Zelle, told a Senate subcommittee in July that only 0.1% of the transactions on Zelle involved a scam or fraud; in 2023, the company said, that percentage was 0.05%. But Zelle operates at such a large scale — 120 million users, 2.9 billion transactions and $806 billion transferred in 2023, according to Early Warning Services — that even a tiny percentage of scam and fraud problems translates into a large number of users and dollars... From 2022 to 2023, Zelle cut the rate of scams by nearly 50% even as the volume of transactions grew 28%, resulting in less money scammed in 2023 than in 2022, said Ben Chance, the chief fraud risk management officer for Zelle. The company didn't disclose the amounts involved, but if 0.05% of the $806 billion transferred in 2023 involved scam or fraud, that would translate to $403 million.

Do Zelle users get reimbursed for scams? Only in certain cases, and this is where the banks that offer Zelle have drawn the most heat. If you use Zelle to pay a scammer, banks say, that's a payment you authorized, so they're not obliged under law to refund your money... Some banks, such as Bank of America, say they will put a freeze on transfers by a suspected scammer as soon as a report comes in, then investigate and, if the report is substantiated, seize and return the money. But that works only if the scam is reported right away, before the scammer has the chance to withdraw the funds — which many will do immediately, said Iskander Sanchez-Rola, director of innovation at the cybersecurity company Gen.

Major U.S. companies are tightening eligibility requirements for student discounts, cracking down on graduates who continue to claim benefits years after leaving school. Amazon, Spotify, and other firms are partnering with verification services like SheerID to validate student status, ending an era of lax enforcement that allowed many to exploit discounts long after graduation.

While companies aim to build brand loyalty among young consumers, they're also guarding against fraud. SheerID claims it helped clients avoid $2 billion in fraudulent discounts last year. Most streaming services retain over 90% of student customers after graduation, according to SheerID CEO Stephanie Copeland Weber. "They're building trust and loyalty with those consumers," she told WSJ.

Palantir Chief Technology Officer Shyam Sankar has called for faster defense spending, arguing the Pentagon should focus on rapid deployment over higher budgets. "The biggest challenge is speed," Sankar told Axios in an interview. "The Department of Defense would be better off spending half as much money twice as quickly."

The U.S. military has "lost our ability to value time," he said. The Denver-based software company, known for its work in areas ranging from vaccine logistics to Ukraine demining efforts, has positioned itself as a "software prime" in the defense sector.

Nasdaq is taking steps to purge itself of dubious companies whose shares trade below $1 each, following criticism that the exchange has become home to hundreds of risky penny stocks. From a report: [...] When a stock closes below $1 for 30 consecutive trading days, Nasdaq deems the company to be noncompliant and gives it 180 days to remedy the situation. After 180 days, if the stock hasn't climbed above $1, the company can request another 180-day grace period. At the end of that second period, the company can still get a last-minute reprieve by appealing to a Nasdaq hearings panel. The delisting is stayed while the company awaits its hearing.

Some say those rules are lax, leading to a pileup of penny stocks on Nasdaq. On Wednesday, there were 523 stocks listed on U.S. exchanges that closed below $1 per share, of which 433 were listed on Nasdaq, according to Dow Jones Market Data. By comparison, there were fewer than a dozen sub-$1 stocks in early 2021. The two proposed rule changes unveiled by Nasdaq on Thursday would tighten up some of the rules regarding sub-$1 stocks, though they don't go as far as Virtu has demanded.

Under one of the proposed changes, companies that reach the end of their second 180-day grace period wouldn't be able to postpone delisting by seeking an appeal. Instead, their shares would move to the over-the-counter market -- a sort of purgatory where companies land after being delisted -- while they await the appeal. Effectively, the rule change caps the amount of time that sub-$1 stocks can be listed on Nasdaq to roughly a year. The second proposed rule change would speed up the delisting process for companies that recently did a reverse stock split. Under the change, if a company carried out a reverse split to prop up its share price, but then its stock fell below $1 within a year, Nasdaq would immediately send the company a delisting notice. The company could still appeal and remain listed for another 180 days.

Starting today, Morgan Stanley's advisors are allowed to offer bitcoin ETFs to some clients -- a first among major Wall Street banks. "Those funds are BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund," reports CNBC. From the report: Morgan Stanley made the move in response to demand from clients and in an attempt to follow an evolving marketplace for digital assets [...].The bank is still striking a note of caution, however, in the rollout: Only clients with a net worth of at least $1.5 million, an aggressive risk tolerance and the desire to make speculative investments are suitable for bitcoin ETF solicitation, said the people. The investments are for taxable brokerage accounts, not retirement accounts, they added. The bank will monitor clients' crypto holdings to make sure they don't end up with excessive exposure to the volatile asset class, according to the sources.

The only crypto investments approved for solicited purchase at Morgan Stanley are the pair of bitcoin ETFs from BlackRock and Fidelity; private funds from Galaxy and FS NYDIG that the bank made available starting in 2021 were phased out earlier this year. Morgan Stanley is watching how the market for newly approved ether ETFs develops and hasn't committed to whether it would provide access to those, the people said.

AI is upending India's technology outsourcing business. The industry is pivoting to adapt, but the changes could cost a large number of coveted jobs. From a report: The country's big outsourcing companies are already using AI and have plans to integrate it throughout their businesses. That might not save the low-end operations that run call centers or do other basic tasks within the so-called business process outsourcing sector.Â

AI is threatening to disrupt most businesses around the world, not just India's $250 billion outsourcing industry. The outsourcing boom in India over the past few decades created the "getting Bangalore-d" phenomenon in the U.S., often used for Americans who lost their jobs to more affordable Indian talent. AI's impact could have big repercussions as the industry employs 5.4 million people, according to tech-industry body Nasscom, and contributes about 8% of the country's economy. More than 80% of companies in the S&P 500 outsource some operations to India, according to HSBC.

U.S. Judge Amit Mehta released a 286-page ruling Monday in the Google search antitrust case, revealing key details of the tech giant's business practices. The document is packed with factual findings and legal conclusions and some amazing comments. Here's one, for instance: Google pays Apple billions of dollars a year to be the default search engine in Safari. But according to Eddy Cue, Apple's senior vice president of services, there's no other meaningful alternative. During the trial, he said that "there's no price that Microsoft could ever offer" to Apple to get the company to preload Bing in Safari. "I don't believe there's a price in the world that Microsoft could offer us," Cue said at another point. "They offered to give us Bing for free. They could give us the whole company."

For Google, this is a sign that they've earned their default status (which, incidentally, they pay Apple gobs of money to maintain). Judge Mehta says that this is an indication that the "market reality is that Google is the only real choice as the default GSE [general search engine]." (Of course, Cue's opinion doesn't mean Bing is objectively bad. Elsewhere, the opinion notes that Bing's search quality is comparable to Google's on desktop, though it falls behind on mobile.)

Mainframe computers, stalwarts of high-speed data processing, are finding new relevance in the age of AI. Banks, insurers, and airlines continue to rely on these industrial-strength machines for mission-critical operations, with some now exploring AI applications directly on the hardware, WSJ reported in a feature story. IBM, commanding over 96% of the mainframe market, reported 6% growth in its mainframe business last quarter. The company's latest zSystem can process up to 30,000 transactions per second and hold 40 terabytes of data. WSJ adds: Globally, the mainframe market was valued at $3.05 billion in 2023, but new mainframe sales are expected to decline through 2028, IDC said. Of existing mainframes, however, 54% of enterprise leaders in a 2023 Forrester survey said they would increase their usage over the next two years.

Mainframes do have limitations. They are constrained by the computing power within their boxes, unlike the cloud, which can scale up by drawing on computing power distributed across many locations and servers. They are also unwieldy -- with years of old code tacked on -- and don't integrate well with new applications. That makes them costly to manage and difficult to use as a platform for developing new applications.

In a note to clients, seen by Slashdot, brokerage house Jefferies writes: Netflix's last price hike on the standard plan was in Jan 2022, its ad- supported plan remains the cheapest (among major players) in the industry, and its move into live sports increases pricing power - for these 3 reasons we suspect a price hike in Q4 or December of this year could be coming on the standard plan.

As stated in the Q4 2023 letter (following the announcement of WWE Raw coming in 2025): "As we invest in and improve Netflix, we'll occasionally ask our members to pay a little extra to reflect those improvements, which in turn helps drive the positive flywheel of additional investment." We believe Netflix has been positioning itself throughout this year for a year-end price hike. December / 2025 will have major content releases supporting a pricing increase including the Christmas NFL game, Squid Game 2 on Dec. 26th (season 1 - the #1 watched NFLX show of all time), WWE Raw starting Jan 2025, and Stranger Things 5 coming in 2025 (season 3 / 4 in top 10 of all-time).