EU wins major cases against Google, Apple

Tuesday, September 10, 2024 Posted by bloggerdaddy

Tuesday, September 10, 2024

Welcome to TechCrunch AM! This morning, we're looking at the EU cracking down on Big Tech; fresh funds for a fintech giant few talk about; and why Swiggy could be one of India's biggest IPOs this year. We've also got notes on Audible's aim to use AI to voice audiobooks; a startup that's using koji to make dairy-free cheese; AI for drug discovery; and an inside look into Elon Musk's Twitter buy. Let's go! — Rebecca

TechCrunch Top 3

Image Credits: David Paul Morris/Bloomberg / Getty Images

1. EU vs. Big Tech: The EU's antitrust regulator has been busy this week. It slapped down Google's bid to overturn a 2017 antitrust decision, and told Apple it needs to pay $15 billion in Irish back taxes and fees. Read More

2. There's always money in helping banks: Form3's founders waded into fintech territory after many frustrations building new services at Barclays. Now, the startup has raised $60 million to expand its tools that connect financial players to enable account payments. Read More

3. Swiggy raises the stakes: The Indian food delivery startup is debating whether to increase its IPO by $150 million, with the goal of raising a total of $1.4 billion. And can you blame them for wanting more? Quick commerce is having a serious moment in India. Read More

Morning Must-Reads

Image Credits: Audible

🙊 AI takes another line of creative work: Audible wants to use AI trained on professional narrators' voices to generate new audiobook recordings. Participating narrators will get royalties on any audiobook that uses their AI voices. Read More

🫀 AI is making drugs now: New drug discovery is one of the greatest flexes of this new AI wave, one that CardiaTec, a Cambridge University spinout, hopes to ride. The startup has raised a $6.5 million seed round to use AI to discover drugs to treat cardiovascular disease. Read More

🛕 Devotion goes digital: Sri Mandir is an app that brings devotional Hindu practices online, and it's seeing growing adoption among users outside India who don't visit temples often but want to connect with their roots. Read More

😍 Cruelty-free cheese: German fermentation startup Formo uses a base of Koji protein, a type of fungal microorganism used in miso and soy sauce, to make industrial quantities of diary-free cheese. And it's just raised $61 million to keep doing it. Read More

📭 You don't got mail: Threads users have been begging for a way to slide into each other's DMs, but it looks like the company is trying to make it easier to send messages to Instagram from the Threads app. Read More

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Around the Web

🫣 Telegram's in the news again: Reuters reported that U.S. prosecutors have charged leaders of a white supremacist gang that used Telegram to solicit attacks on minorities and immigrants to incite a race war. Read More

🐦 What really went on during the Twitter buyout: Vanity Fair published an excerpt from the new book Character Limit, which details how Musk loyalists instilled fear and uncertainty at Twitter, and his inner circle used hardball tactics in a touch-and-go transaction. Read More

☁️ Sleeping on the cloud: Even though Oracle missed the last decade's move to cloud computing, the company is getting a second wind with the AI boom. The 47-year-old company has seen its shares jump 34% since January, reports The Wall Street Journal, outpacing bigger competitors and the Nasdaq's 14% rise. Read More

Before You Go

Image Credits: Bryce Durbin / TechCrunch

🥵 Climate in the back seat: At Apple's much-hyped event yesterday, TC's Tim De Chant noticed that climate change was less of a prominent theme this year. Usually, Apple won't shut up about the reduced climate impact of its products. So what gives? Read More