Quake Rocks Southern Japan

A powerful 6.9 magnitude earthquake struck off the coast of southern Japan near Miyazaki Prefecture on August 8, 2024, triggering tsunami warnings and causing minor injuries and infrastructure damage. The quake, occurring at 4:42 PM local time at a shallow depth of 29 kilometers, prompted immediate evacuation orders for coastal areas.

Authorities have confirmed that all 12 nuclear reactors in Kyushu and Shikoku are safe and functioning normally. However, they continue to warn citizens about the possibility of strong aftershocks. While three people sustained minor injuries, there were no major blackouts or significant infrastructure damage reported, aside from broken windows at Miyazaki airport and collapsed concrete walls in Osaki, Kagoshima.

The Japan Meteorological Agency has urged residents along the Nankai Trough to review their earthquake preparedness plans, as the quake's epicenter was near this seismically active region. Despite the warnings, the Japanese population has shown resilience and composure, reflecting their deep understanding of living in a seismically active area.

The Guardian + 23 • World News

UK Probes Amazon's AI Deal

The U.K. Competition and Markets Authority (CMA) has launched a preliminary investigation into Amazon's partnership with AI startup Anthropic. This probe, mirroring a similar inquiry into Google's collaboration with Anthropic, aims to assess whether the investment constitutes a relevant merger situation that could harm competition in the U.K.

The CMA has set an October 4 deadline to determine if a more in-depth 'phase 2' investigation is necessary. This inquiry reflects broader concerns about how large tech companies might exert control over innovative startups through substantial investments, potentially avoiding the scrutiny associated with full acquisitions.

Amazon argues that its investment will enhance competition in the AI market, while Anthropic, valued at $18.4 billion, asserts its independence. The CMA's actions align with a recent commitment from regulators in the U.S., EU, and Britain to collaborate on maintaining fair competition within the tech industry.

CNBC + 15 • AI • UK News

FTX's Landmark Fraud Settlement

FTX, the bankrupt cryptocurrency exchange, has agreed to pay $12.7 billion to customers affected by fraud orchestrated by its founder, Sam Bankman-Fried. This settlement concludes a 20-month lawsuit initiated by the Commodity Futures Trading Commission (CFTC) in December 2022, which initially sought $52.2 billion in damages.

The repayment is part of a broader bankruptcy liquidation process aimed at compensating impacted customers. Creditors with claims up to $50,000 are expected to receive approximately 118% of their validated claims, including interest, while non-governmental creditors are projected to be fully repaid.

FTX's current reorganization plan, based on recovered assets estimated between $14.5 billion and $16.3 billion, proposes a 118% return for 98% of its creditors with claims under $50,000. The settlement underscores ongoing concerns about regulatory clarity in the cryptocurrency sector and its vulnerability to fraudulent activities.

Ars Technica + 13 • Crypto

Sports, Entertainment & Culture

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• Olympic silver medalist Raven Saunders qualifies for the shot put final at the Paris Olympics, marking her return to international competition. (More)

Science & Technology

• ESA's Gaia mission has identified potential moons around over 350 asteroids, potentially doubling the known number of binary asteroids. (More)

• The Raspberry Pi Foundation launches the $5 Raspberry Pi Pico 2, featuring enhanced security and performance for developers. (More)

• Google DeepMind introduces an AI-powered robotic table tennis player, competing at an amateur human level in 45% of matches. (More)

Business & Markets

• Paramount reports a nearly $6 billion write-down in cable networks' value, reflecting declining audiences and shifting media landscape. (More)

• Deutsche Telekom posts strong Q2 2024 results, with revenue increasing 4.3% to 28.39 billion euros, surpassing forecasts. (More)

• Bumble slashes its revenue growth forecast to 1%-2%, down from 8%-11%, causing a 36% plunge in premarket trading. (More)

Politics & World Affairs

• The UK faces a severe whooping cough outbreak, with over 10,000 cases reported in the first half of 2024. (More)

• German police raid homes of Letzte Generation members following a disruptive glue protest at Frankfurt Airport. (More)

• Israel revokes the diplomatic status of eight Norwegian representatives over Norway's recognition of Palestine, escalating tensions. (More)