Nike sued over closure of crypto business
The plaintiffs are seeking damages over US$5 million for alleged violations of consumer protection laws.
Tech in Asia
FirstCry’s subsidiary CEO resigns after leading it to unicorn
Anuj Jain, former chief business officer of FirstCry’s pre-school segment has been appointed as the new CEO of GlobalBees.
Indian healthy snacking startup Phab bags $2m seed funding
Phab has sold over 2 million units of its protein bars and healthy milkshakes since its 2018 founding.
Chinese life sciences-focused VC expands to HK with new fund
Dalton Venture intends to launch a new fund valued between US$103 million and US$129 million.
US judge schedules May 2 hearing on Google antitrust case
The case centers on Google's alleged illegal dominance in two online advertising technology markets.
AI’s future could be brain cells in a dish, not silicon chips
Australia’s Cortical Labs and Switzerland’s FinalSpark are working on tech that harnesses lab-grown brain cells to power energy-efficient AI systems.
US SEC’s new chair pushes for clear crypto regulation
Atkins expressed optimism about crypto's potential to lower costs and mitigate risks in financial markets.
Microsoft to rely more on third-party firms for sales in AI era
A Microsoft spokesperson said these adjustments aim to meet changing customer needs and purchasing behaviors.
Chrome’s chief says Google integration makes separation hard
The Justice Department has proposed that Google divest Chrome and share some data it collects for search results.
ByteDance considers major data investment in Brazil: sources
ByteDance is is reportedly in talks with Casa dos Ventos to develop the facility in the Pecem port complex in Ceara state.
Deliveroo gets $3.6b buyout proposal from DoorDash
DoorDash has until May 23 to submit a formal bid for Deliveroo.
Baidu debuts cost-efficient Ernie AI models
Ernie 4.5 Turbo provides faster response times and is priced at 20% of its predecessor.
Microsoft predicts rise of frontier firms with AI
The IMF estimates 60% of jobs in advanced economies are exposed to AI, with half potentially facing negative effects.
India’s cloud kitchens on cloud nine
Rebel Foods, Leinao, Resolv Labs, and more raised funds this week.
China leads in global AI patents with 60% share
The China National Intellectual Property Administration has focused on integrating AI into IP management.
Indonesia’s QR code payment expands regionally despite US criticism
Future collaborations are planned with Japan, India, South Korea, China, and Saudi Arabia.
NetEase exec steps down after 12 years of leadership
During his time at NetEase, he led global first-party studios and invested in notable firms.
Evernote founder’s video startup launches new meeting tools
Both Airtime tools work with platforms like Zoom, Teams, Meet, and Webex.
Indonesia’s central bank responds to US criticism of QRIS
The report, released by the US Trade Representative, identifies QRIS as a trade barrier.
Musk’s xAI said to be in talks to raise $20b
Discussions are in early stages, with the company aiming to secure the funds in the coming months.
Connecting Asia's startup ecosystem