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(Reuters) -FalconX said on Wednesday it will buy crypto investment management firm 21shares, as the digital assets trading firm looks to expand its exchange-traded funds offerings. The deal comes just over a month after Wall Street's top regulator removed the last remaining hurdle to dozens of new spot ETFs tied to cryptocurrencies ranging from solana to dogecoin. The terms of the deal were not disclosed. The Trump administration has aligned itself with the digital assets sector via long-awaited regulatory clarity, marking a stark turnaround from the years of struggle and a legal battle that paved the way for the approval of the first bitcoin ETF in January 2024. "We're witnessing a powerful convergence between digital assets and traditional financial markets, as crypto ETPs (exchange-traded products) open new channels for investor participation through regulated, familiar structures," said FalconX CEO Raghu Yarlagadda. Founded in 2018 by Hany Rashwan and Ophelia Snyder, 21shares now manages over $11 billion in assets across dozens of products.  FalconX plans to leverage 21shares' expertise in crypto ETFs and its brokerage platform to advance the adoption of digital asset investment products.  Although updated standards from the Securities and Exchange Commission are expected to unleash a flurry of crypto ETFs, the U.S. government shutdown could curb the agency's ability to review and approve these filings. Concerns are also mounting over highly leveraged funds tracking crypto and related companies. Earlier this month, the sector saw its largest selloff ever after U.S. President Donald Trump renewed trade tensions with China. FalconX, which was valued at $8 billion in a 2022 funding round, has facilitated over $2 trillion in trading volume and has a client base exceeding 2,000 institutions. (Reporting by Ateev Bhandari and Arasu Kannagi Basil in Bengaluru; Editing by Sahal Muhammed)

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(Reuters) -Meta is cutting roughly 600 positions out of the several thousand roles within its Superintelligence Labs artificial intelligence unit, Axios reported on Wednesday. The cuts will affect the company's Facebook Artificial Intelligence Research (FAIR) unit, product-related AI and AI infrastructure units, while sparing the newly formed TBD Lab, according to the report, which cited an internal memo. Meta did not immediately respond to a Reuters request for comment. Reuters could not independently verify the report. The parent of Facebook and Instagram reorganized its AI efforts under Superintelligence Labs in June after senior staff departures and a poor reception for its open-source Llama 4 model. CEO Mark Zuckerberg had said in July Meta would spend hundreds of billions of dollars to build several massive AI data centers for Superintelligence. The company began investing in AI in 2013, with the launch of FAIR and recruiting Yann LeCun, its chief AI scientist, to lead the effort and building a global research network focused on deep learning. (Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi Majumdar)

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(Reuters) -Meta is cutting roughly 600 positions out of the several thousand roles within its Superintelligence Labs artificial intelligence unit, Axios reported on Wednesday. (Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi Majumdar)

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By Foo Yun Chee BRUSSELS (Reuters) -Apple was hit with a complaint to EU antitrust regulators by two civil rights groups on Wednesday over the terms and conditions of its App Store and devices for allegedly breaching landmark rules aimed at reining in Big Tech. The joint complaint by Article 19 and Germany's Society for Civil Rights to the European Commission could pose yet another headache for Apple, which was fined 500 million euros ($583 million) in April for violating the Digital Markets Act. Apple did not immediately respond to a request for comment. The EU executive, which acts as the bloc's competition enforcer, did not have any immediate comment. The complaint, not previously reported, was shared with Reuters ahead of its publication. The DMA sets out a list of dos and don'ts for Big Tech firms aimed at allowing smaller rivals into markets dominated by the largest companies and giving users more choice. The complaint targets Apple's business terms and conditions for its App Store, iOS and iPadOS operating systems, saying that these prevent and impede interoperability for small businesses with Apple devices. It also takes aim at restrictions on the installation and use of third-party software apps and app stores which it said harm business users and end users in breach of the DMA. The civil rights groups singled out a stand-by letter of credit (SBLC) of 1 million euros required from developers who want to develop apps for distribution in Apple's App Store or who want to install a third-party app store as a native app in Apple's iOS and iPadOS. "A 1,000,000 euro SBLC can impose a recurring annual cost and collateral requirements that many SMEs cannot meet," said the 16-page complaint seen by Reuters. The groups urged the Commission to fine Apple. DMA penalties can be as much as 10% of a company's global annual revenue. ($1 = 0.8575 euros) (Reporting by Foo Yun Chee; Editing by Joe Bavier, Kirsten Donovan)

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BRUSSELS (Reuters) -Apple was hit with a complaint to EU antitrust regulators by two civil rights groups on Wednesday over the terms and conditions of its App Store and devices for allegedly breaching landmark rules aimed at reining in Big Tech. The joint complaint by Article 19 and Germany's Society for Civil Rights to the European Commission could pose yet another headache for Apple, which was fined 500 million euros ($583 million) in April for violating the Digital Markets Act. Apple did not immediately respond to a request for comment. ($1 = 0.8575 euros) (Reporting by Foo Yun Chee; Editing by Joe Bavier)

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(Corrects day of release in first paragraph) By Akash Sriram and Abhirup Roy (Reuters) -Tesla is expected to post a surge in third-quarter results later on Wednesday, thanks to U.S. buyers rushing to take advantage of an expiring $7,500 federal electric vehicle tax credit. But investors and analysts may be more focused on Chief Executive Elon Musk's outlook, including whether new, cheaper versions of its Model 3 and Model Y Tesla can keep U.S. customers buying and attract new ones in Europe and Asia.  The new trims – called Standard – are $5,000 to $5,500 cheaper than their predecessors as Tesla shrunk the battery, switched to a less-powerful motor and stripped out a myriad of features – from rear touchscreens to seat-back pockets. The company also temporarily has slashed lease prices on the higher-priced Premium versions. The cheaper Standard variants as well as Tesla's offers and discounts to stave off competition globally throughout the year have pressured the company's once-enviable margins, worrying investors. Sales of Tesla's aging lineup declined for the first time last year and analysts expect an 8.5% fall this year, in part because of Musk's far-right political rhetoric. ROBOTAXIS ROLLOUT UPDATE Musk also will be expected to update on robotaxis, the project that he sees as the key to Tesla's next stage of growth. Musk has said Tesla's robotaxis will serve half the population of the U.S. by year-end. "What are the relevant metrics – fleet size, cumulative miles, and territories – you expect in Q4 and 2026?" was the top question for the CEO in a note by analysts at Cantor Fitzgerald on Tuesday.  While Musk has pivoted Tesla's focus to robotics and artificial intelligence and much of the company's $1.4 trillion valuation hangs on that bet, most of its current revenue and profit comes from vehicle sales.  Analysts expect Tesla to report a revenue of $26.24 billion in the quarter ended September, up 4.2% from a year earlier, according to data compiled by LSEG. Tesla also will report on whether regulatory credits that it sold to makers of gasoline-powered cars to satisfy pollution standards have faded away after policy changes by the Trump administration. Automotive gross margin, excluding regulatory credits, is estimated to be 15.6%, according to 19 analysts polled by Visible Alpha. That is lower than 17.05%, a year earlier. (Reporting by Akash Sriram in Bengaluru and Abhirup Roy in San Francisco; editing by Peter Henderson and Stephen Coates)

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BAGHDAD (Reuters) -Iraq has banned U.S. user-generated videogame platform Roblox due to concerns over child safety, the government said, joining other countries in cracking down on virtual worlds. The government said late on Sunday that the ban was motivated by concerns that the game allowed direct communication between users in ways that exposed children and adolescents to attempts of exploitation or cyber-extortion, and that its content was "incompatible with social values and traditions". Roblox Corp said safety was its top priority and it wanted to work with the government to restore access. "We strongly contest recent claims made by the Iraqi authorities, which we believe to be based on an outdated understanding of our platform," a Roblox spokesperson said. Earlier this year, Roblox temporarily suspended certain communication features such as in-game chat for users in Arabic speaking countries, including Iraq, the spokesperson added. The Iraqi communications ministry said the nationwide ban was based on a comprehensive study and field monitoring which found that "the game involves several security, social, and behavioural risks". The move places Iraq among several Middle East countries tightening regulation of online gaming and interactive platforms over child safety and moral concerns. Turkey blocked access to Roblox in August 2024, also citing child abuse risks. (Reporting by Ahmed Rasheed, Alexandra Hudson; Editing by Muvija M and Alison Williams)

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(Reuters) -Teledyne Technologies raised its 2025 profit forecast on Wednesday, betting on sustained demand for its defense electronics and military drones. The maker of target detection sensors also beat Wall Street expectations for its third quarter results. Defense contractors and suppliers are benefiting from a surge in demand for military equipment as geopolitical tensions rise and global conflicts simmer. The company, however, cautioned of a possible short-term hit to new contracts from the U.S. government shutdown that is now three weeks old. Teledyne raised its annual adjusted profit forecast to between $21.45 and $21.60 per share, from $21.20 to $21.50 per share. It posted a third-quarter revenue of $1.54 billion, up 6.7% from a year ago and above expectations of $1.53 billion, according to data compiled by LSEG. Its adjusted profit per share came in at $5.57, also surpassing estimates of $5.48. (Reporting by Utkarsh Shetti in Bengaluru; Editing by Sahal Muhammed)

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(Reuters) -Uber Technologies said on Wednesday it is rebranding its “Uber Green” service as “Uber Electric” and launching a $4,000 grant program for drivers, as part of the ride-hailing giant's push toward zero-emission rides by 2040. The new grants, branded “Go Electric,” will provide eligible drivers $4,000 to buy new or used EVs in states including California, New York, Colorado and Massachusetts. The program could be crucial to meet Uber's climate targets and competitiveness in the green mobility race as it can be combined with other discounts and state-level incentives — potentially slashing thousands more off sticker prices even as a federal tax incentive ends. A $7,500 federal tax credit for new electric vehicle purchases, introduced during President Joe Biden’s term, expired last month, making EVs costlier for buyers. Earlier this year, Uber shifted its Uber Green service in the U.S. to an all-electric model, moving away from the mix of hybrids and fully electric vehicles. Uber said more than 200,000 EVs are now on its platform globally, with drivers in the U.S., Canada and Europe going electric up to five times faster than other motorists. One in four riders reported their first EV experience was through Uber, the company said. It will offer riders a 20% discount on their next electric trip to mark the rebrand. Uber is also expanding its battery-aware matching feature to 25 countries, aiming to ease “range anxiety” for drivers, which refers to the fear that an electric vehicle will run out of charge before reaching a charging station or completing a trip. (Reporting by Akash Sriram in Bengaluru; Editing by Sahal Muhammed)

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(Reuters) -A group including right-wing U.S. media personalities Steve Bannon and Glenn Beck has signed a statement calling for a ban on developing superintelligent artificial intelligence until the public demands it and science paves a safe way forward, according to the non-profit organizers of the initiative. The proposal, also signed by technology pioneers Geoffrey Hinton and Yoshua Bengio, is the latest organized by the Future of Life Institute, which for more than a decade has raised concerns about the risk it says intelligent machines pose to humanity. The institute, founded in 2014, was supported early on by Tesla CEO Elon Musk and software programmer and tech investor Jaan Tallinn. Many in the technology industry and the U.S. government have opposed such pauses, arguing these worries are unwarranted and undermine innovation and economic growth. Still, the support from figures such as Bannon reflects potentially growing AI unease among the populist right at a time when many with ties to Silicon Valley hold influential roles in the Republican administration of U.S. President Donald Trump. Steve Bannon and Glenn Beck did not immediately respond to a request for comment. Other signatories for the statement include Apple's co-founder Steve Wozniak, Ireland's former President Mary Robinson, and Virgin Group founder Richard Branson, the institute said. (Reporting by Jeffrey Dastin in San Francisco; Additional reporting by Chandni Shah in Bengaluru; Editing by Chris Reese)

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