
Apple, Google Told Chinese DeepSeek App Is Illegal in Germany
Apple Inc. and Google 's Android have been warned by a top German privacy regulator that the Chinese AI service DeepSeek, available on their app stores, constitutes illegal content because it exposes users' data to Chinese authorities.
The formal notification comes after DeepSeek ignored a May request to either pull its app from app stores in Germany or put in place safeguards when collecting local users' data and transmitting it to China, Berlin data protection commissioner Meike Kamp said in a statement on Friday.

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CNBC
17 minutes ago
- CNBC
Here are Friday's biggest analyst calls: Nvidia, Amazon, Boeing, Nike, Disney, CoreWeave & more
Here are Friday's biggest calls on Wall Street: Rothschild & Co. Redburn upgrades Boeing to buy from neutral The firm said "things seem to be taking a more positive turn for Boeing and the company appears healthier." "We upgrade the stock to Buy (from Neutral) given the upside suggested by our new target price of $275 per share (versus $180 previously)." Canaccord downgrades Uber to hold from buy After a change in analyst coverage, the firm downgraded both stocks on concerns about autonomous vehicles. "The future could be bright: value added in the AV world through hybrid human-robot networks, strong on the ground operations, and other tactical elements. An alternative scenario is also plausible: a new world dominated by a few AV behemoths that control the value chain and leave Uber Lyft reflecting on the golden days of the past. It is truly unclear." Goldman Sachs upgrades Franklin Resources to buy from neutral Goldman said the multinational investment company is well positioned. "We upgrade BEN to Buy from Neutral with a 12-month price target of $29, representing > 25% upside to current levels." Citizens upgrades Alphabet to outperform from market perform Citizens said AI is a "net tailwind" for Alphabet. "We upgrade Alphabet to Market Outperform from Market Perform and establish a $220 price target as we believe AI is a net tailwind, with ChatGPT's impact too small today to move enough queries away from Google to materially impact results, while AI is expanding the search opportunity by answering a broader array of queries and extending monetization as AI better infers user intent." Read more. Piper Sandler names Meta a new top pick Piper said Meta is a new top idea at the firm and raised its price target to $808 per share from $650. " Meta's $14BN+ investment in Scale AI also demonstrates conviction behind the AI opportunity." Baird downgrades Bank of America to neutral from outperform and JPMorgan to underperform from neutral Baird downgraded several major banks on Friday and says the "risk/reward tradeoff [is] not attractive." "We understand the optimism around mega cap banks here - benefits from deregulation, solid capital positions, capital markets are opening up, and JPM is the gold standard in the group. However, are of the view that BAC is at FV [fair value] and JPM has modest downside from current levels, with JPM trading at record valuations." Deutsche Bank initiates A10 Networks as buy Deutsche said AI is a "meaningful tailwind" for the networking security company. "We initiate coverage of A10 Networks with a Buy rating and $22 price target." Evercore ISI upgrades Trade Desk to outperform from in line Evercore said investors should buy the dip in the ad tech company. "With TTD still down 40%+ YTD, we see an attractive opportunity to get involved again in what has proved over time to be one of the highest quality and most consistent performers across the Internet landscape." Bank of America reiterates Disney as buy Bank of America said Disney is well positioned ahead of earnings in early August. "We maintain our Buy rating and $140 PO. Near term catalysts include: 1) profitability inflection in DTC, 2) reacceleration in the Parks business and 3) strong upcoming film slate which drives other businesses (DTC, Parks and Consumer Products)." JPMorgan reiterates Amazon as overweight JPMorgan said its "margin analysis suggests core retail upside." " Amazon remains our Best Idea and our December 2025 PT of $240 is based on ~32.5x our 2026E FCF of $75B." HSBC upgrades Nike to buy from neutral HSBC upgraded Nike following earnings and says it's in the middle of a turnaround. "After another two quarters of inventory clean-up it seems the bulk of the brand assortment should be current and exciting. Separately, we like the fact the new management team (CEO Hill re-joined last Oct) is not cutting corners and is committed to quality." Read more. UBS reiterates Nvidia as buy UBS said its survey checks show Nvidia as a "key" AI winner. "In this 4th iteration of our Enterprise AI survey, we again leveraged the UBS Evidence Labs data team to survey IT execs at 128 organizations about their AI plans at the chip, cloud infrastructure, model, application software, data and security layers, with a focus on incremental changes in feedback from our previous October 2024 survey." Bank of America downgrades Molson Coors to neutral from buy The firm said in its downgrade of Molson Coors that "volume stabilization hasn't materialized." "We downgrade from Buy to Neutral and lower our PO from $65 to $50 which is based on 8.3x our FY26 EPS estimate. This puts it more in line with US packaged food industry peers where the industry growth dynamics are similar." Barclays reiterates CoreWeave as equal weight Barclays said it's bullish on reports of a Core Scientific buyout talks with CoreWeave. "Potential Core Scientific Acquisition Offers Increased Vertical Integration." Bank of America reiterates Spotify as buy The firm raised its price target to $900 per share from $700. "We view SPOT as an attractive pure play on the high-growth streaming music market - a subscription-driven opportunity underpinned by the global appeal of music and rising smartphone adoption with optionality from recent podcasting and Two-Sided Marketplace initiatives. Monness Crespi Hardt upgrades Elastic to buy from neutral Monness said shares of the software company are too attractive to ignore at current levels. "Today, Elastic holds a depressed enterprise-value-to-revenue multiple relative to our consumption-based, software group and even our software universe at large. We find Elastic's valuation compelling at current levels, and we believe the company is well positioned for the gen AI movement."


Washington Post
20 minutes ago
- Washington Post
German minimum wage set to rise by about 14% over the next 18 months
BERLIN — Germany's minimum wage is set to rise by about 14% over the next 18 months under an agreement that appears to defuse a potentially divisive issue for the new government . A commission in which employers and labor unions are represented recommended on Friday that the minimum wage rise from its current 12.82 euros ($15) per hour to 13.90 euros at the beginning of 2026 and 14.60 euros a year later.
Yahoo
22 minutes ago
- Yahoo
German minimum wage set to rise by about 14% over the next 18 months
BERLIN (AP) — Germany's minimum wage is set to rise by about 14% over the next 18 months under an agreement that appears to defuse a potentially divisive issue for the new government. A commission in which employers and labor unions are represented recommended on Friday that the minimum wage rise from its current 12.82 euros ($15) per hour to 13.90 euros at the beginning of 2026 and 14.60 euros a year later. The head of the panel, Christiane Schönefeld, said it faced 'a particular challenge this year in view of the stagnating economy and the uncertain forecasts.' She said it conducted 'very difficult talks, which were complicated further by the expectations expressed in public.' Germany, which has Europe's biggest economy, has had a national minimum wage since 2015. It was introduced at the insistence of the center-left Social Democrats, who were then — as they are now now — the junior partners in a conservative-led government. It started off at 8.50 euros per hour, but the independent commission reviews its level regularly. There has been one political intervention, however: under then-Chancellor Olaf Scholz, a Social Democrat, the government in 2022 ordered an increase to 12 euros an hour, fulfilling a campaign pledge by Scholz. In their campaign for this year's election, the Social Democrats called for an increase to 15 euros. New Chancellor Friedrich Merz's conservative bloc strongly opposed another government-ordered raise. Labor Minister Bärbel Bas, a leading Social Democrat, said she would implement the commission's proposal. She said she 'can live well with it.' 'Of course we wanted more for people in this country,' she told reporters. But she praised the panel for reaching consensus on an increase, 'because it looked for a long time as though we wouldn't get an agreement at all, and then of course we would have had to talk in the coalition about how to deal with this.' The Associated Press Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data