British cinema operator Cineworld Group, owner of Regal Cinemas, has proposed a plan to emerge from Chapter 11 bankruptcy. In what is described as a “debt-for-equity swap,” the company would reduce by some $4.53 billion the indebtedness of its principal U.S. claimants, who would be getting a stake in the company in exchange for waiving their claims. The group companies have commitments for roughly $1.94 billion in debtor financing from lenders to help ensure Cineworld operations can continue during its anticipated reorganization, which is subject to court approval. The transaction is expected to “result in very significant dilution of existing equity interests.” Continue reading Regal Parent Cineworld on Path to Chapter 11 Restructuring

The European Council (EU’s governing body) has adopted a position on the Artificial Intelligence Act, which aims to ensure that AI systems used or marketed in the European Union are safe and respect existing laws on fundamental rights. In addition to defining artificial intelligence, the European Council’s general approach specifies prohibited AI practices, calls for risk level allocation, and stipulates ways to deal with those risks. The Council — comprised of EU heads of state — becomes the first co-legislate to complete this initial step, with the European Parliament expected to offer its version of the AIA in the first half of 2023. Continue reading European Council Weighs in on the Artificial Intelligence Act

The U.S. Commerce Department’s Commercial Law Development Program (CLDP) is leading a program to encourage nations to avoid gear from Chinese companies Huawei and ZTE in building their own 5G networks. The workshops on how to do so, combined with a handbook and some financial incentives, are aimed at legislators in Central and Eastern Europe as well as developing countries around the world. The handbook will include case studies of how the United Kingdom, for example, deployed 5G without Chinese equipment. Continue reading U.S. Offers Incentives for Countries to Avoid China’s 5G Gear

Huawei Technologies has been on a charm offensive to convince the United States and other Western countries that it is not the bad player suggested by legislators and regulators. Now the company is lodging lawsuits against its critics, including a defamation complaint in France against a journalist who said Huawei is controlled by the Chinese government. At the same time, closer to home, Huawei’s reputation is suffering a hit that began with a hair-raising story a former employee posted online. Continue reading Huawei Fights Back Against Critics, Loses Approval at Home

According to sources, on May 2-3 when officials from 30+ countries meet in Prague to discuss security principles for 5G networks, the U.S. will propose measures to prevent China’s Huawei from gaining dominance. The U.S. has long believed that the Chinese government can use Huawei’s gear to spy via Internet-connected products from AR to self-driving cars. Huawei has denied the accusations. The U.S. strategy at the upcoming meeting, said a U.S. official, is “softer” than its previous efforts to limit Huawei’s influence. Continue reading U.S. Tries Softer Tack to Limit Huawei at Prague 5G Confab

The University of Oxford just released a disturbing report documenting increasing evidence that 29 governments around the world are exploiting Facebook, Twitter and other social media platforms to influence — both domestically and internationally — public opinion, distribute false news and sabotage those perceived as foes. As might be expected, autocratic rulers use these strategies, but so do governments that have been elected democratically. The tactics employed vary from country to country. Continue reading Report Lists 29 Governments That Manipulate Social Media

The new Microsoft Research AI lab is now open for business, targeting the creation of a single system of general artificial intelligence that can flexibly work on a range of problems. Based at company headquarters in Washington state, the lab will be home to more than 100 scientists whose AI research spans fields including perception, learning, reasoning and natural language processing. The lab’s goal of general AI differs from narrow AI, which performs one task very well, such as facial recognition. Continue reading Microsoft Takes a Bigger Stake in AI With New Lab, Projects