An anonymous reader quotes a report from the New York Times: In a blow to publishers and authors, Costco plans to stop selling books regularly at stores around the United States, four publishing executives who had been informed of the warehouse retailer's plans said on Wednesday. Beginning in January 2025, the company will stop stocking books regularly, and will instead sell them only during the holiday shopping period, from September through December. During the rest of the year, some books may be sold at Costco stores from time to time, but not in a consistent manner, according to the executives, who spoke anonymously in order to discuss a confidential business matter that has not yet been publicly announced.

Costco's shift away from books came largely because of the labor required to stock books, the executives said. Copies have to be laid out by hand, rather than just rolled out on a pallet as other products often are at Costco. The constant turnaround of books -- new ones come out every Tuesday and the ones that have not sold need to be returned -- also created more work. The decision could be a significant setback for publishers at a moment when the industry is facing stagnant print sales and publishing houses are struggling to find ways to reach customers who have migrated online. Costco had already stopped selling books in some markets, including Alaska and Hawaii. While Costco may not be as critical of an outlet as a bookstore like Barnes & Noble, its influence is also evident in the large quantities it orders. When Costco chose to carry a book, "it often went big, ordering tens of thousands of copies at a minimum," says the report. "For major blockbusters, they might stock hundreds of thousands of copies of a single title."

"The change may also impact Costco customers, particularly those who live in areas without a bookstore. And because many books at Costco were impulse buys, some of those sales may not shift over to Amazon or Barnes & Noble. Instead, they might not happen at all."

Online marketplace behemoth eBay said it plans to no longer accept American Express, citing what the company says are "unacceptably high fees." CNBC: It's a notable blow to American Express, whose customers are often the most attractive among merchants and spend the most money per month on their cards. But it's not the first time merchants have voiced opposition to AmEx's business practices by walking away, most notably the warehouse chain Costco nearly a decade ago.

[...] Overland said that eBay customers have become aware of new ways to pay for items, making payments more competitive than ever before, and AmEx was no longer a necessary partner for eBay. eBay has increasingly been offering customers buy now, pay later options on purchases through Apple Pay, PayPal and other companies like Klarna and Affirm as well.

Longtime Slashdot reader MattSparkes shares a report from NewScientist: Quantum computing experts are baffled by the UK government's new export restrictions on the exotic devices (source paywalled), saying they make little sense. [The UK government has set limits on the capabilities of quantum computers that can be exported -- starting with those above 34 qubits, and rising as long as error rates are also higher -- and has declined to explain these limits on the grounds of national security.] The legislation applies to both existing, small quantum computers that are of no practical use and larger computers that don't actually exist, so cannot be exported. Instead, there are fears the limits will restrict sales and add bureaucracy to a new and growing sector. For more context, here's an excerpt from an article published by The Telegraph in March: The technology has been added to a list of "dual use" items that could have military uses maintained by the Export Control Joint Unit, which scrutinizes sales of sensitive goods. A national quantum computer strategy published last year described the technology as being "critically important" for defense and national security and said the UK was in a "global race" to develop it. [...] The changes have been introduced as part of a broader update to export rules agreed by Western allies including the US and major European countries. Several nations with particular expertise on quantum computer technologies have added specific curbs, including France which introduced rules at the start of this month.

Last year, industry body Quantum UK said British companies were concerned about the prospect of further export controls, and that they could even put off US companies seeking to relocate to the UK. Quantum computer exports only previously required licenses in specific cases, such as when they were likely to lead to military use. Oxford Instruments, which makes cooling systems for quantum computers, said last year that sales in China had been hit by increasing curbs. James Lindop of law firm Eversheds Sutherland said: "Semiconductor and quantum technologies -- two areas in which the UK already holds a world-leading position -- are increasingly perceived to be highly strategic and critical to UK national security. This will undoubtedly create an additional compliance burden for businesses active in the development and production of the targeted technologies."

When buying a new smartphone, it's important to consider the duration of software updates, as it impacts security and longevity. In a rare public commitment on Monday, thanks to the UK's new Product Security and Telecommunications Infrastructure (PSTI) regulations, Apple said it guarantees a minimum of five years of security updates for the iPhone 15 Pro Max. "In other words, the iPhone 15 is officially guaranteed to receive security updates until September 22, 2028," reports Android Authority. From the report: This, as VP of Engineering for Android Security & Privacy at Google Dave Kleidermacher points out, means that Apple is no longer offering the best security update policy in the industry. Both Samsung and Google guarantee seven years of not just security updates but also Android OS updates for their respective flagship devices, which is two years longer than what Apple guarantees.

To Apple's credit, though, it has long provided more than five years of security updates for its various iPhone devices. Some iPhones have received security updates six or more years after the initial release, which is far more support than the vast majority of Android devices receive. So, while Samsung and Google currently beat Apple in terms of how long they're guaranteeing software support, that doesn't mean iPhone users can't keep their phones for just as long, if not longer. They'll just need to hope Apple doesn't cut off support after the five-year minimum.

Fans have noticed that, over the last few months, Sony quietly removed any mention of 8K on the PlayStation 5 boxes. "I have been endlessly bitching since the PS5 released about that 8k Badge," writes X user @DeathlyPrice. "It is false Advertising and Sony should be sued for it." Others shared their grievances via PlayStation Lifestyle and a Reddit thread. GameSpot reports: A FAQ on Sony's official site in 2020 stated that "PS5 is compatible with 8K displays at launch, and after a future system software update will be able to output resolutions up to 8K when content is available, with supported software." But to date, the only game that offers 8K resolution on PS5 is The Touryst, which looks more like Minecraft than a game with advanced visuals.

The reality is that 8K has not been widely adopted by video game developers, or even by filmmakers at this point. There are 8K televisions on the market, but it may be quite some time, if ever, before it becomes the standard for either gaming or entertainment.

Japan's birth rate fell to a new low for the eighth straight year in 2023, according to Health Ministry data released on Wednesday. A government official described the situation as critical and urged authorities to do everything they can to reverse the trend. From a report: The data underscores Japan's long-standing issues of a rapidly aging and shrinking population, which has serious implications for the country's economy and national security -- especially against the backdrop of China's increasingly assertive presence in the region.

According to the latest statistics, Japan's fertility rate -- the average number of babies a woman is expected to have in her lifetime -- stood at 1.2 last year. The 727,277 babies born in Japan in 2023 were down 5.6% from the previous year, the ministry said -- the lowest since Japan started compiling the statistics in 1899. Separately, the data shows that the number of marriages fell by 6% to 474,717 last year, something authorities say is a key reason for the declining birth rate. In the predominantly traditional Japanese society, out-of-wedlock births are rare as people prize family values.

The U.S. Justice Department and the Federal Trade Commission have reached a deal that allows them to proceed with antitrust investigations into the dominant roles that Microsoft, OpenAI and Nvidia play in the artificial intelligence industry, Reuters reported Thursday, citing a source familiar with the matter. From the report: Under the deal, the U.S. Department of Justice will take the lead in investigating whether Nvidia violated antitrust laws, while the FTC will examine the conduct of OpenAI and Microsoft. While OpenAI's parent is a nonprofit, Microsoft has invested $13 billion in a for-profit subsidiary, for what would be a 49% stake. The Microsoft-OpenAI partnership is also under informal scrutiny in other regions.

The regulators struck the deal over the past week and it is expected to be completed in the coming days, the person said. The FTC is also looking into Microsoft's $650 million deal with AI startup Inflection AI, a person familiar with the matter said.

An anonymous reader shared a report: Amazon has agreed to acquire key assets of Indian video streaming service MX Player from the local media powerhouse Times Internet, the latest step by the e-commerce giant to make its services and brand popular in smaller cities and towns in the key overseas market.

[...] Times Internet acquired MX Player in 2018 for $140 million. The app, which originated in South Korea, gained immense popularity in India due to its unique local video playback feature. This functionality allows the app to support a wide range of video file formats, making it highly compatible with affordable Android smartphones that are prevalent in developing markets.

An anonymous reader quotes a report from Reuters: Google parent Alphabet must face a lawsuit worth up to $17.4 billion for allegedly abusing its dominance in the online advertising market, London's Competition Appeal Tribunal (CAT) ruled on Wednesday. The lawsuit, which seeks damages on behalf of publishers of websites and apps based in the United Kingdom, is the latest case to focus on the search giant's business practices. Ad Tech Collective Action is bringing the claim on behalf of publishers who say they have suffered losses due to Google's allegedly anti-competitive behavior.

Google last month urged the CAT to block the case, which it argued was incoherent. The company "strongly rejects the underlying allegations", its lawyers said in court documents. The CAT said in a written ruling that it would certify the case to proceed towards a trial, which is unlikely to take place before the end of 2025. The tribunal also emphasized the test for certifying a case under the UK's collective proceedings regime -- which is roughly equivalent to the United States' class action regime -- is relatively low. "Google works constructively with publishers across the UK and Europe," Google legal director Oliver Bethell said in a statement. Bethell added: "This lawsuit is speculative and opportunistic. We'll oppose it vigorously and on the facts."

An anonymous reader quotes a report from Reuters: Last Christmas Eve, NewsBreak, a free app with roots in China that is the most downloaded news app in the United States, published an alarming piece about a small town shooting. It was headlined "Christmas Day Tragedy Strikes Bridgeton, New Jersey Amid Rising Gun Violence in Small Towns." The problem was, no such shooting took place. The Bridgeton, New Jersey police department posted a statement on Facebook on December 27 dismissing the article -- produced using AI technology -- as "entirely false." "Nothing even similar to this story occurred on or around Christmas, or even in recent memory for the area they described," the post said. "It seems this 'news' outlet's AI writes fiction they have no problem publishing to readers." NewsBreak, which is headquartered in Mountain View, California and has offices in Beijing and Shanghai, told Reuters it removed the article on December 28, four days after publication.

The company said "the inaccurate information originated from the content source," and provided a link to the website, adding: "When NewsBreak identifies any inaccurate content or any violation of our community standards, we take prompt action to remove that content." As local news outlets across America have shuttered in recent years, NewsBreak has filled the void. Billing itself as "the go-to source for all things local," Newsbreak says it has over 50 million monthly users. It publishes licensed content from major media outlets, including Reuters, Fox, AP and CNN as well as some information obtained by scraping the internet for local news or press releases which it rewrites with the help of AI. It is only available in the U.S. But in at least 40 instances since 2021, the app's use of AI tools affected the communities it strives to serve, with Newsbreak publishing erroneous stories; creating 10 stories from local news sites under fictitious bylines; and lifting content from its competitors, according to a Reuters review of previously unreported court documents related to copyright infringement, cease-and-desist emails and a 2022 company memo registering concerns about "AI-generated stories." Five of the seven former NewsBreak employees Reuters spoke to said most of the engineering work behind the app's algorithm is carried out in its China-based offices. "The company launched in the U.S. in 2015 as a subsidiary of Yidian, a Chinese news aggregation app," notes Reuters. "Both companies were founded by Jeff Zheng, the CEO of Newsbreak, and the companies share a U.S. patent registered in 2015 for an 'Interest Engine' algorithm, which recommends news content based on a user's interests and location."

"NewsBreak is a privately held start-up, whose primary backers are private equity firms San Francisco-based Francisco Partners, and Beijing-based IDG Capital."

Cailey Gleeson reports via Forbes: A group backed by more than two dozen investors -- including Citadel Securities and BlackRock -- is planning to start its own stock exchange in Texas, it said Wednesday, in an attempt to compete with the New York Stock Exchange and Nasdaq. The Texas Stock Exchange (TXSE) -- owned by TXSE Group Inc. and founded in 2023, per its LinkedIn -- will be a "fully electronic national securities exchange" that seeks to expand access to markets for all investors and those seeking access to public capital, according to Wednesday's press release.

The TXSE aims to have primary listings, dual listings and exchange-traded products, according to The Wall Street Journal, which first reported the news. The stock exchange has raised $120 million in capital and plans to register with the Securities and Exchange Commission later this year, according to the press release, while it will also have a physical headquarters in Dallas, and the company will employ about 100 people, The Dallas Morning News reported. It plans to start facilitating trades in 2025 and host its first listing the following year, multiple outlets reported. The Wall Street Journal notes that past attempts at regional stock exchanges have failed, such as the Chicago Stock Exchange and Philadelphia Stock Exchange -- both of which combined with the NYSE and Nasdaq.

"The NYSE considered relocating its electronic trading systems to the Dallas-Fort Worth area in late 2020, amid a proposed financial transaction tax on stocks in New York," adds Forbes. "But the move did not go through, nor the proposed tax,."

Nvidia has reached a market cap of $3 trillion, surpassing Apple to become the second-largest public company behind Microsoft. CNBC reports: Nvidia's milestone is the latest stunning mark in a run that has seen the stock soar more than 3,224% over the past five years. The company will split its stock 100-for-1 later this month. Apple was the first U.S. company to reach a $3 trillion market cap during intraday trading in January 2022. Microsoft hit $3 trillion in market value in January 2024. Nvidia, which was founded in 1993, passed the $2 trillion valuation in February, and it only took roughly three months from there for it to pass $3 trillion.

Nvidia's surge in recent years has been powered by the tech industry's need for its chips, which are used to develop and deploy big AI models such as the one at the heart of OpenAI's ChatGPT. Companies such as Google, Microsoft, Meta, Amazon and OpenAI are buying billions of dollars worth of Nvidia's GPUs.

U.N. Secretary General Antonio Guterres called Wednesday for a "windfall" tax on profits of fossil fuel companies to help pay for the fight against global warming, decrying them as the "godfathers of climate chaos." From a report: Guterres spoke from the American Museum of Natural History in New York in a bid to revive focus on climate change at a time when many national elections, and conflict in places like Ukraine, Gaza and Sudan this year have seized much of the international spotlight.

In a bare-knuckled speech timed for World Environment Day, Guterres drew on new data and projections to trumpet his case against Big Oil: The European Union's climate watching agency reported that last month was the hottest May ever, marking the 12th straight monthly record high. The EU's Copernicus climate change service, a global reference for tracking world temperatures, cited an average surface air temperature of 15.9 C (60.6 F) last month -- or 1.52 C higher than the estimated May average before industrial times. The burning of fossil fuels -- oil, gas and coal -- is the main contributor to global warming caused by human activity. Meanwhile, the U.N. weather agency predicted an 80% chance that average global temperatures will surpass the 1.5 Celsius (2.7 Fahrenheit) target set in the landmark Paris climate accord of 2015. Further reading: UN Chief Says World is On 'Highway To Climate Hell' as Planet Endures 12 Straight Months of Unprecedented Heat.

US lawmakers accused Nigeria of taking a Binance executive "hostage" and urged President Joe Biden to help secure his release. From a report: Sixteen Republican congressman including Chairman of the House Foreign Affairs Committee Michael McCaul wrote to Biden to have the case of Tigran Gambaryan referred to the Office of the Special Presidential Envoy for Hostage Affairs. A US citizen, Gambaryan is head of financial crime compliance at Binance and has been held at a prison in the Nigerian capital, Abuja, since April.

"The charges against Mr. Gambaryan are baseless and constitute a coercion tactic by the Nigerian government to extort his employer, Binance," the lawmakers wrote in the June 4 letter, a copy of which has been seen by Bloomberg. "Following these charges, Mr. Gambaryan qualifies as a 'U.S. Citizen wrongfully detained by a foreign government,'" they said. The faceoff between Africa's most-populous nation and the world's largest cryptocurrency exchange burst into view in February, when Nigerian authorities detained Gambaryan and a colleague -- who subsequently escaped -- during a visit to discuss the company's compliance issues with the country.

U.S. Treasury Secretary Janet Yellen will warn that the use of AI in finance could lower transaction costs, but carries "significant risks," according to excerpts from a speech to be delivered on Thursday. From a report: In the remarks to a Financial Stability Oversight Council and Brookings Institution AI conference, Yellen says AI-related risks have moved towards the top of the regulatory council's agenda.

"Specific vulnerabilities may arise from the complexity and opacity of AI models, inadequate risk management frameworks to account for AI risks and interconnections that emerge as many market participants rely on the same data and models," Yellen says in the excerpts. She also notes that concentration among the vendors that develop AI models and that provide data and cloud services may also introduce risks that could amplify existing third-party service provider risks. "And insufficient or faulty data could also perpetuate or introduce new biases in financial decision-making," according to Yellen.

Google Maps has introduced a new layer to help individuals find public restrooms in New York City. The Verge reports: As part of a new program called "Ur in Luck," the city has introduced a Maps view dotted with 1,000 public restrooms across the five boroughs. Users can view the map on their phones and locate the closest restroom that's accessible to the public. "Everyone -- seniors, parents with kids, anyone enjoying the day outdoors, needs access to a public bathroom without having to buy anything or beg for a code," Deputy Mayor for Operations Meera Joshi said in a press release. The city will also build 46 new restrooms and renovate 36 existing locations over the next five years.

An anonymous reader quotes a report from CBC News: Online streaming services operating in Canada will be required to contribute five percent of their Canadian revenues to support the domestic broadcasting system, the country's telecoms regulator said on Tuesday. The money will be used to boost funding for local and Indigenous broadcasting, officials from the Canadian Radio-television and Telecommunications Commission (CRTC) said in a briefing. "Today's decision will help ensure that online streaming services make meaningful contributions to Canadian and Indigenous content," wrote CRTC chief executive and chair Vicky Eatrides in a statement.

The measure was introduced under the auspices of a law passed last year designed to make sure that companies like Netflix make a more significant contribution to Canadian culture. The government says the legislation will ensure that online streaming services promote Canadian music and stories, and support Canadian jobs. Funding will also be directed to French-language content and content created by official language minority communities, as well as content created by equity-deserving groups and Canadians of diverse backgrounds. The release also said that online streaming services will "have some flexibility" to send their revenues to support Canadian television directly. [...]

The measure, which will start in the 2024-2025 broadcasting year, would raise roughly $200 million annually, CRTC officials said. It will only apply to services that are not already affiliated with Canadian broadcasters. The CMPA was among 20 screen organizations from around the world that signed a statement in January asking governments to impose stronger regulations on streaming companies operating in local markets. One of the demands was a measure that would force companies profiting from their presence in those markets to contribute financially to the creation of new local content."We are disappointed by today's decision and concerned by the negative impact it will have on Canadian consumers. We are assessing the decision in full, but this onerous and inflexible financial levy will be harmful to consumer choice," a spokesperson for Prime Video wrote to CBC News in a statement.

AmiMoJo shares a report: The world is off track to meet the goal of tripling renewable electricity generation by 2030, a target viewed as vital to enable a swift global transition away from fossil fuels, but there are promising signs that the pace of progress may be picking up.

Countries agreed last December on a tripling of renewable power by the end of this decade. But few have yet taken concrete steps to meet this requirement and on current policies and trends global renewable generation capacity would only roughly double in developed countries, and slightly more than double globally by 2030, according to an analysis by the International Energy Agency.

Governments should include targets and policies on renewables in their national action plans for the climate (called nationally determined contributions, or NDCs), which are a requirement under the Paris agreement, the IEA found. Many currently fail to do so, even though vast increases in renewable power are essential to meeting the treaty's aspiration of limiting temperature rises to 1.5C above pre-industrial levels.

The IEA, the gold standard for global energy research, analysed the domestic policies and targets of nearly 150 countries, and found they would result in about 8,000GW of renewable energy capacity by 2030. That amount is about 70% of what is necessary to reach 11,000GW of capacity, the amount needed for the tripling goal agreed at the Cop28 UN climate summit in Dubai last year.

After growing concerned about potential stock manipulation, E*Trade is "considering telling meme-stock leader Keith Gill he can no longer use its platform," reports the Wall Street Journal, citing people familiar with the matter. Gill, known online as "Roaring Kitty," gained notoriety for his role in the 2020 meme stock frenzy, where he encouraged amateur investors to buy GameStop shares, significantly driving up the stock price and challenging hedge funds. Just hours ago, Roaring Kitty announced he bought $116 million worth of GameStop options and stocks.

Developing...

CarbonBrief: China's carbon dioxide (CO2) emissions fell by 3% in March 2024, ending a 14-month surge that began when the economy reopened after the nation's "zero-Covid" controls were lifted in December 2022. The new analysis for Carbon Brief, based on official figures and commercial data, reinforces the view that China's emissions could have peaked in 2023.

The drivers of the CO2 drop in March 2024 were expanding solar and wind generation, which covered 90% of the growth in electricity demand, as well as declining construction activity. Oil demand growth also ground to a halt, indicating that the post-Covid rebound may have run its course. A 2023 peak in China's CO2 emissions is possible if the buildout of clean energy sources is kept at the record levels seen last year.