Dear Reader,
Welcome to another edition of The Under60 Daily - a brief rundown of the top happenings in the business world, compiled by hand to exclude the clutter and ensure you get up to speed in under a minute.
[Security] Apple intends to install software on American iPhones to scan for child abuse imagery, according to people briefed on its plans, raising the alarm among security researchers who warn that it could open the door to surveillance of millions of people’s devices. The automated system known as “neuralMatch” would proactively alert a team of human reviewers if it believes illegal imagery is detected, who would then contact law enforcement if the material can be verified.
Over60: F.T.
[Regulation] India took a big step towards repairing its damaged image as an investment destination by moving to scrap a controversial retrospective tax that ensnared multinationals such as Cairn Energy and Vodafone. On Thursday, prime minister Narendra Modi’s government introduced a bill in parliament to rescind a 2012 tax code provision that had allowed New Delhi to impose retrospective taxes on some foreign investments.
Over60: F.T.
[M&A] The $3.8 billion sales of Swedish automotive tech company Veoneer to Magna International hit a roadblock Thursday after chipmaker Qualcomm submitted a bid for the company for $800 million more. Veoneer is a developer of advanced driver assistance systems, decision-making vehicle hardware and software that can perform a limited set of actions under certain conditions, like changing lanes on a highway or emergency braking.
Over60: TechCrunch
[Labor] A new survey shows that many Americans say they’d be willing to take reduced salaries, give up days off or put in more hours for a job that offers a fully remote option. Workers state concerns about their health, have domestic responsibilities that keep them home or don’t want to return to an unwelcome commute as reasons for wanting a fully remote option.
Over60: Bloomberg
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Happy Wednesday,
Team Under60