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Technology

AP News | Equities.com |

Federal law enforcement agencies secretly seek the data of Microsoft customers thousands of times a year, according to congressional testimony being given Wednesday by a senior executive at the technology company.

Tom Burt, Microsoft’s corporate vice president for customer security and trust, will tell members of the House Judiciary Committee that federal law enforcement in recent years has been presenting the company with between 2,400 to 3,500 secrecy orders a year, or about seven to 10 a day.


Reuters | Equities.com |

Chinese ride hailing company Didi Global Inc raised $4.4 billion in its U.S. IPO, pricing it at the top of its indicated range and increasing the number of shares sold, the company said.

Didi sold 316.8 million American Depository Shares (ADS), versus the planned 288 million, at $14 apiece.


Reuters | Equities.com |

,p>The U.S. House of Representatives Judiciary Committee took up its most aggressive of six antitrust bills Thursday, discussing a measure to require platforms, like Amazon.com Inc, to sell lines of business they run on their platforms if they also compete against them.

Representative Pramila Jayapal, a sponsor, argued that previous tough antitrust action, like a 1998 lawsuit against Microsoft Corp, "created the space for the great renaissance of technology that later drove a lot of the U.S. economy."


Kimberly Redmond | Equities.com |

The US Senate Committee on Commerce, Science and Transportation will hold an April 14 hearing on a bipartisan measure aimed at helping the country gain the upper hand in the tech race against China.

First proposed in 2020 by Senate Democratic Leader Chuck Schumer and Republican Senator Todd Young, the Endless Frontier Act would commit over $100 billion over five years to promote emerging technologies, including artificial intelligence, quantum computing and robotics.


Reuters | Equities.com |

The S&P 500 jumped past the 4,000 mark for the first time on Thursday, riding gains in Microsoft, Amazon and Alphabet, as well as optimism about a recovering U.S. economy.

Microsoft, Amazon, Alphabet and Nvidia jumped 1% or more, with those and other growth stocks showing signs of awakening after lagging in recent weeks behind so-called value stocks expected to outperform as the economy recovers from the coronavirus pandemic.


Reuters | Equities.com |

The Biden administration said Friday it wants new public input on establishing licensing or other procedures to help companies comply with a sweeping new rule targeting Chinese technology firms.

On Monday, the U.S. Commerce Department allowed a regulation issued under then President Donald Trump in January to take effect over objections from U.S. business groups.


Kimberly Redmond | Equities.com |

A group of hackers reportedly breached Silicon Valley video and AI security startup Verkada Inc earlier this week and was able to gain unauthorized access to live feeds from over 150,000 security cameras.

After hacking into Verkada’s systems on Monday, the Switzerland-based collective, which calls itself “Advanced Persistent Threat 69420,” claims it had 36 hours of widespread access to surveillance footage within companies such as Tesla Inc (Nasdaq: TSLA), Nissan Motor Co (OTC US: NSANY), Cloudflare Inc (NYSE: NET) and Equinox Group, as well as hospitals, schools, prisons and police departments, Bloomberg reported.