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Saturday, April 19, 2025

Will Vision Air become Apple's 'Ray Ban'?

Apple is working on two new versions of the Vision Pro headset, according to a report: one that's lighter and more affordable than the original, and another designed to tether with Macs. Despite low demand for its current AR/VR headset, Apple remains focused on creating versions of the device with broader mainstream appeal, Bloomberg reported this week.

The new lower-cost Vision Pro being developed would likely have a less powerful chip and scaled-back features, bringing the price down significantly from the original $3,500. It's also expected to include an ultralow-latency system for streaming a Mac display, according to the report. 

Apple is also reportedly still working on its own smart glasses equipped with cameras and microphones, similar to Meta's Ray-Ban line.

CEO Tim Cook "cares about nothing else" more than delivering a true pair of AR glasses, calling it a "top priority," Bloomberg said, citing an anonymous Apple engineer. But until the technology can be perfected in a way that's comfortable and as wearable as traditional eyewear, Apple sees camera- and mic-enabled glasses as a stepping stone into the space.

This builds on earlier reports that Apple intends to channel some of the Vision Pro's billion-dollar R&D investment in visual intelligence into future products, including smart glasses expected to launch in 2027.

Apple didn't immediately respond to a request for comment.

In recent years, Apple has often focused on refining buzzy, existing technologies, from mixed-reality headsets to AI features. As it stands, Meta is better positioned to dominate the smart glasses category, particularly as it continues to enhance its hardware, software and growing ecosystem of services. But Cook, according to Bloomberg, is "hell-bent on creating an industry-leading product before Meta can."

The report said the glasses would use Siri and Visual Intelligence as part of Apple's broader Apple Intelligence AI platform. In keeping with Apple's overall product strategy, privacy would remain a central focus.

Still, the company may face challenges in making the device as indispensable as its other products, particularly the iPhone -- and at a price that's accessible enough to drive mass adoption.

Eric Abbruzzese, research director at market research firm ABI Research, called Apple's interest in smart glasses a long-term priority.

"AR has simply proven more difficult than VR to go to market with devices that balance cost and capability," he said. "AR as a supplement to the smartphone, similar to an Apple Watch, is a very compelling product category that is truthfully only just starting to be served appropriately."

Glasses like Meta's Ray-Bans show that people are interested in smart eyewear but building ones with screens still presents a major challenge, Abbruzzese said. At the same time, AR and AI are increasingly intertwined, with companies like Apple, Meta and Google designing products that blend the two. Abbruzzese described the "holy grail" product as mass-market smart glasses -- an affordable, display-enabled wearable that pairs with a smartphone and uses sensors, voice input and AI agents for natural, hands-free interaction.

"The relationship between AR and AI is a significant, mutually beneficial relationship where each technology benefits from the other," he said.

https://www.cnet.com/tech/mobile/apple-is-planning-new-vision-pro-models-and-rival-to-meta-ray-ban-glasses-report-says/


Friday, April 18, 2025

Minn. state employee allegedly did $20K damage to Teslas after Walz mocked automaker’s stock price

 A Minnesota state employee was reportedly busted for allegedly causing approximately $20,000 in damage while vandalizing Teslas — just weeks after failed vice presidential candidate and Gov. Tim Walz publicly mocked the electric car company’s falling stock.

Dylan Bryan Adams, a 33-year-old fiscal policy analyst for the North Star State, was arrested on suspicion of keying multiple Teslas in Minneapolis while out walking his dog in an act of destruction caught on vehicle surveillance, according to a Minnesota-based crime watch account.

Adams was allegedly seen approaching a vehicle from the Elon Musk-owned automaker with his dog and then abruptly dragging his keys down the side of the car, stripping what appeared to be paint off the electric vehicles, the watchdog group posted to X Friday.

A man who police say is Dylan Adams is caught on vehicle surveillance vandalizing a Tesla.FOX 9 via Minneapolis Police
Dylan Bryan Adams, a State of Minnesota employee, faces charges for allegedly vandalizing Teslas.X/CrimeWatchMpls

The same pup seemingly appeared in each video the crime watch account posted.

Other alarming footage showed a man, believed to be Adams, aggressively carving into two separate Teslas.

Adams, who works for Minnesota’s Department of Human Services, is not a political appointee in Walz’s administration, a spokesperson for the governor told The Post Friday night.

The alleged vandal is one of more than 40,000 state employees, the rep added.

His charges are reportedly pending.

The Post has reached out to the Minneapolis Police Department and Minnesota State Police.

The suspected arrest comes nearly a month after Walz said watching Tesla’s stock price plummet gave him “a little boost during the day” during a rally in Wisconsin.

Police believe Adams keyed multiple vehicles.FOX 9 via Minneapolis Police
Adams was out walking his dog when he allegedly vandalized the Teslas.Instagram/independent_facts

“Some of you know this. On the iPhone, they’ve got that little stock app. I added Tesla to it to give me a little boost during the day — $225 and dropping,” Walz, 61, bellowed.

“And if you own one, we’re not blaming you. You can take dental floss and pull the Tesla thing off,” he added, later attempting to walk back the remarks by claiming it was “a joke.’

The FBI launched a task force last month and is treating attacks on Teslas as “domestic terrorism” following an uptick in incidents targeting the electric car company in an apparent protest against Musk for his role leading President Trump’s cost-cutting Department of Environmental Efficiency.

Adams is a fiscal policy analyst in Tim Walz’s Minnesota.Holden Smith/ZUMA Press / SplashNews.com
Vandals nationwide have set fire and destroyed Tesla cars, dealerships and charging stations in the weeks following Trump’s inauguration.

“I think a great wrong is being done to the people of Tesla and to our customers,” the DOGE chief told Fox News “Special Report” host Bret Baier last month.

“I mean, Tesla’s a peaceful company that has made great cars, great products — that’s all it’s done,” the 53-year-old argued.

https://nypost.com/2025/04/18/us-news/member-of-minnesota-gov-tim-walzs-administration-allegedly-caused-20k-in-damage-while-vandalizing-teslas-report/

Extraordinary US-China Cyber Meeting Revealed

 by John Mills via The Epoch Times,

The Wall Street Journal recently revealed an unprecedented meeting that occurred in December 2024, which addressed the ongoing series of cyberattacks on U.S. critical infrastructure. In this meeting, described as a “summit,” about 12 U.S. national security officials engaged in candid discussions with their Chinese counterparts.

This meeting marked the first acknowledgment by China that the Volt Typhoon and the Salt Typhoon cyber intrusions originated from the Chinese regime.

“The Chinese official’s remarks at the December meeting were indirect and somewhat ambiguous, but most of the American delegation in the room interpreted it as a tacit admission and a warning to the U.S. about Taiwan, a former U.S. official familiar with the meeting said,” the Journal reported.

 

Chinese Cyber Assaults

Volt Typhoon was first publicly reported in early 2023, as Microsoft and the Department of Homeland Security revealed cyber intrusions into critical infrastructure in Guam. A Chinese state-sponsored group was the announced culprit, and one U.S. official said this was part of a broader Chinese intelligence-gathering system.

The department’s Security’s Cybersecurity and Infrastructure Security Agency (CISA) released an advisory with perhaps a new cybersecurity buzz phrase of “living off the land.” One article posited whether this event signaled preparation for a Chinese attack.

In 2024, congressional testimony by then-FBI Director Wray and then-CISA Director Jen Easterly was sobering. Easterly characterized the Chinese actions starkly, saying, “This is truly an ‘Everything Everywhere, All at Once’ scenario.”

The Journal article, published on April 10, provided further information on the motives of the Chinese regime. “The Chinese delegation linked years of intrusions into computer networks at U.S. ports, water utilities, airports and other targets, to increasing U.S. policy support for Taiwan … underscoring how hostilities between the two superpowers are continuing to escalate,” the report said.

Leadership Accountability for Cyber Failures

In his first term, President Donald Trump’s initial executive order on cybersecurity stressed one theme: leadership accountability.

The executive order states: 

“The President will hold heads of executive departments and agencies (agency heads) accountable for managing cybersecurity risk to their enterprises. In addition, because risk management decisions made by agency heads can affect the risk to the executive branch as a whole, and to national security, it is also the policy of the United States to manage cybersecurity risk as an executive branch enterprise.”

To clarify, the executive order said that cyber breaches would be considered a direct reflection of the senior leadership of the affected departments and agencies.

The revelation of the December 2024 Geneva meeting may provide further background on the recent leadership changes at Fort Meade, Maryland.

Beijing’s cyber campaign has been relentless since early 2023 and includes the full spectrum of U.S. critical infrastructure, including power, water, telecommunications, air traffic control, and maritime navigation-related systems.

A Cyber ‘Plucking’ to Ensure Best Leadership

Retired Lt. General Michael Flynn, Trump’s initial national security adviser during his first term, told me “there are more flag officers [generals and admirals] that need to go,” pointing out that “this is a ‘Marshall Moment’ to effect these changes.”

This refers to the “plucking” used by Gen. George Marshall before and during the Second World War.

Herm Hasken, a retired military officer and senior adviser to several cyber and electronic warfare companies, told me that “the public is only getting a portion of the whole story regarding the size and scope of China’s intrusions across all 16 sectors of our critical infrastructure.”

Retired Secret Service Senior Executive Robert Rodriguez told me that industry practitioners are extremely concerned about the Chinese regime’s Salt Typhoon cyberattacks.

Rodriguez helped establish the early cyber capabilities of the Secret Service. He is still active in cybersecurity innovation efforts.

“The threat was so serious they formed a coalition of U.S. and Canadian [chief information security officers] to host a series of ongoing workshops” to address the broad and pervasive Chinese cyber intrusions, Rodriguez said.

He said China is “by far the No. 1 threat” to the United States and the world.

In December 2024, a Senate Hearing dove deeply into the Salt Typhoon cyberattacks. The bipartisan dissatisfaction in Congress regarding the U.S. government’s inability to shut down and remove Chinese cyber intruders was evident.

“I think the American people need to know the extent of the breach here, I think they will be shocked at the extent of it,” Sen. Josh Hawley (R-Mo.) said at the time. 

“I think they need to know about their text messages, their voicemail, their phone calls. It’s very bad, it’s very, very bad, and it is ongoing.”

Then-Senate Intelligence Committee Chair Mark Warner (D-Va.), who has direct experience as an executive in the telecommunications market, was concerned about the unaddressed “gaping holes” in the U.S. cybersecurity posture.

“I think there is huge concern, far and away the worst telecom hack, and the fact is that they are still in the systems,” Warner told reporters at the time.

The unabated and continuous Chinese cyber assault, confirmed by The Wall Street Journal in relation to the high-level Geneva security summit between the outgoing U.S. national security team and China, may be a significant causal factor for changes in U.S. cybersecurity leadership.

https://www.zerohedge.com/geopolitical/extraordinary-us-china-cyber-meeting-revealed

Iran, US to hold talks in Rome in bid to reach nuclear deal

 Iran and the United States will hold a new round of nuclear talks in Rome on Saturday to resolve their decades-long standoff over Tehran's atomic aims, under the shadow of President Donald Trump's threat to unleash military action if diplomacy fails.

Iran's Foreign Minister Abbas Araqchi and Trump's Middle East envoy Steve Witkoff will negotiate indirectly through mediators from Oman, a week after a first round in Muscat that both sides described as constructive.

Tehran has sought to tamp down expectations of a quick deal, after some Iranian officials speculated that sanctions could be lifted soon. Iran's utmost authority, Supreme Leader Ayatollah Ali Khamenei, said this week he was "neither overly optimistic nor pessimistic".

For his part, Trump told reporters on Friday: "I'm for stopping Iran, very simply, from having a nuclear weapon. They can't have a nuclear weapon. I want Iran to be great and prosperous and terrific."

Trump, who ditched a 2015 nuclear pact between Iran and six powers during his first term in 2018 and reimposed crippling sanctions on Tehran, has revived his "maximum pressure" campaign on Iran since returning to the White House in January.

Washington wants Iran to halt production of highly enriched uranium, which it believes is aimed at building an atomic bomb.

Tehran, which has always said its nuclear programme is peaceful, says it is willing to negotiate some curbs in return for the lifting of sanctions, but wants watertight guarantees that Washington will not renege again as Trump did in 2018.

Since 2019, Iran has breached and far surpassed the 2015 deal's limits on its uranium enrichment, producing stocks far above what the West says is necessary for a civilian energy programme.

A senior Iranian official, who described Iran's negotiating position on condition of anonymity, listed Iran's red lines as never agreeing to dismantle its uranium enriching centrifuges, halt enrichment altogether or reduce its enriched uranium stockpile below levels agreed in the 2015 deal. Iran also rejects negotiating about defence capabilities such as missiles.

While both Tehran and Washington have said they are set on pursuing diplomacy, there is still a wide gap between them on the dispute that has rumbled on for more than two decades.

Witkoff and Araqchi interacted briefly at the end of the first round last week, but officials from the two countries have not held direct negotiations since 2015, and Iran said the Rome talks would also be held indirectly through the Omani mediators.

Russia, a party to Iran's 2015 nuclear agreement, has offered "to assist, mediate, and play any role" that will be beneficial to Iran and the United States.

https://www.aol.com/news/iran-us-hold-talks-rome-030431113.html

India plans to ease nuclear liability laws to attract foreign firms, sources say

 India is planning to ease its nuclear liability laws to cap accident-related penalties on equipment suppliers, three government sources said, in a move mainly to attract U.S. firms that have been holding back due to the risk of unlimited exposure.

The proposal by Prime Minister Narendra Modi's government is the latest step to expand nuclear power production capacity by 12 times to 100 gigawatts by 2047 as well as provide a fillip to India in trade and tariff negotiations with the U.S.

A draft law prepared by the department of atomic energy removes a key clause in the Civil Nuclear Liability Damage Act of 2010 that exposes suppliers to unlimited liability for accidents, the three sources said.

India's atomic energy department, the prime minister's office and the finance ministry did not respond to requests seeking comment.

"India needs nuclear power, which is clean and essential," said Debasish Mishra, chief growth officer at Deloitte South Asia.

"A liability cap will allay the major concern of the suppliers of nuclear reactors."

The amendments are in line with international norms that put the onus on the operator to maintain safety instead of the supplier of nuclear reactors.

New Delhi is hoping the changes will ease concerns of mainly U.S. firms like General Electric Co and Westinghouse Electric Co that have been sitting on the sidelines for years due to unlimited risks in case of accidents.

Analysts say passage of the amended law is crucial to negotiations between India and the U.S. for a trade deal this year that aims to raise bilateral trade to $500 billion by 2030 from $191 billion last year.

Modi's administration is confident of getting approval for the amendments in the monsoon session of parliament, set to begin in July, according to the sources.

Under the proposed amendments, the right of the operator to compensation from the supplier in case of an accident will be capped at the value of the contract. It will also be subject to a period to be specified in the contract.

Currently, the law does not define a limit to the amount of compensation an operator can seek from suppliers and the period for which the vendor can be held accountable.

LAW GREW OUT OF BHOPAL DISASTER

India's 2010 nuclear liability law grew out of the 1984 Bhopal gas disaster, the world's deadliest industrial accident, at a factory owned by U.S. multinational Union Carbide Corp in which more than 5,000 people were killed.nion Carbide agreed to pay an out-of-court settlement of $470 million in damages in 1989.

https://uk.finance.yahoo.com/news/exclusive-india-plans-ease-nuclear-050012246.html

Bankers get creative to sign M&A deals in Trump's trade war

 After U.S. President Donald Trump's tariffs sent global markets sideways, Silicon Valley private equity firm Silver Lake Partners and chipmaker Intel added some new terms to a deal they had spent months negotiating.

The talks continued for an extra week, during which the new clause was inserted into the final agreement announced Monday that deferred close to a third of the $4.46 billion it was paying for a majority stake in Intel's programmable chip business Altera, according to someone familiar with the matter.

Amid the market slump and unpredictable tariff fight, bankers and investors are finding creative ways to get some multibillion-dollar deals done, albeit delayed, from Silver Lake's purchase of Altera to Prada's acquisition of Versace, both announced in the last two weeks.

Some investors are adding clauses that protect them if the markets do not rebound while others have had to sweeten terms to get deals signed, interviews with more than a half dozen investors, bankers and corporate executives say.

ACTIVITY FALLS

While global dealmaking rose 12.6% in the first quarter to $984.38 billion from the year-ago period, it has since fallen off a cliff, according to data compiled by Dealogic for Reuters. M&A volume during the first half of April slid 29% from the same time last year to just $98 billion, the worst kickoff to the second quarter since 2020, the data shows.

“We live in turbulent times,” Hans De Cuyper, CEO of multinational insurance company Ageas, told Reuters in an interview. He said his team gamed out several different economic scenarios before deciding to buy home insurer esure from Bain Capital for 1.3 billion pounds ($1.7 billion), announced last week.

Dealmakers say some companies are modifying terms with lenders or floating creative financing structures to bridge gaps in valuations that have tumbled in recent weeks.

"People are rethinking deals, maybe cutting them a little bit. We saw this in 2008-2009 where deals had contingent value rights and earnouts because valuations were depressed. That might come back,” Alex Hecker, vice chairman of global M&A at Deutsche Bank, said in an interview.

RECALCULATING NUMBERS

Global Payments was close to closing an already complex, three-way, $24.3 billion deal to buy one of its rivals on April 2 when Trump announced sweeping tariffs on his self-proclaimed Liberation Day that sent the company's shares plunging by nearly 15% over the next two days.

Days before executives hoped to finalize the agreement to buy Worldpay, they had to quickly recalculate their numbers, according to a person familiar with the matter. To seal the deal, part of which was being financed with stock, Global Payments executives decided to honor the company’s pre-Liberation Day share price of $97, despite the fact it was trading in the low $80s, according to this person.

https://finance.yahoo.com/news/bankers-creative-sign-m-deals-185308801.html

Ukraine Energy Strike Moratorium Has Ended, Kremlin Declares

 The Kremlin on Friday confirmed that the US-brokered ceasefire on energy sites has effectively ended. Last month Ukraine and Russia agreed to temporarily pause all attacks against each other's energy infrastructure. 

Washington hailed this is as a potential key first-step toward a more comprehensive ceasefire, which has still not gotten off the ground. But both warring sides have accused the other of violating the energy site truce multiple times over, in the prior few weeks. Russia still sees the initiative as positive.

The 30-day moratorium has reached its deadline, with Putin spokesman Dmitry Peskov having confirmed "the month [of moratorium] has indeed expired.



He added, "As of this moment, there have been no other instructions from the supreme commander-in-chief, President Putin." The initial partial ceasefire was brokered in a phone call between Presidents Trump and Putin on March 18.

Russia is leaving open the potential for another interim deal, also amid ongoing efforts to get Moscow and Kiev to the negotiating table.

"We believe that certain progress can already be acknowledged. This progress is related to the moratorium on not striking energy infrastructure facilities," Peskov continued. "The Russian Federation adhered to this moratorium, which cannot be said about the Ukrainian side."

It's unclear the degree to which Russian airstrikes may have hit Ukraine's energy and power infrastructure over the past month, but what is clear is that huge aerial attacks have been ongoing, including the mass casualty strike on the city of Sumy days ago.

Moscow has meanwhile complained that any sweeping truce deal will be hard to monitor, in terms of ensuring conformity to the terms. Putin too has said that Ukraine's military would have to be closely monitored, as any partial truce would allow it to simply rearm and regroup.

For this reason, Putin has made clear that he won't agree to anything 'partial' or temporary in nature to halt the fighting. Russia wants a comprehensive truce, but this would require Ukraine giving up its four eastern territories, and Moscow also wants to see 'de-Nazification' and a change in government in Kiev. 

All of these things remain a tall order, and Zelensky is still lashing out at the White House for engaging in talks with Moscow but without the Ukrainian government's direct input.

For example, on Friday Zelensky said of US officials outlining a peace plan in Paris that Trump's representatives have no "mandate to discuss Ukrainian territories, because these territories belong to our people." He added: "We do not discuss territories until the ceasefire. We will never consider Ukrainian lands as Russian."

https://www.zerohedge.com/energy/ukraine-energy-strike-moratorium-has-ended-kremlin-declares