Greg Stohr / Bloomberg: SCOTUS declines to question the FCC's $8B annual subsidy to help cover telecom costs for poor people and residents of rural area, turning away two appeals  —  The US Supreme Court declined to question the $8 billion annual subsidy that helps cover the cost of telecom services for poor people …

Milana Vinn / Reuters: New Jersey-based IT provider Cognizant agrees to acquire digital engineering company Belcan, which employs 10K across 60 locations, for $1.3B in cash and stock  —  Information technology services provider Cognizant Technologies (CTSH.O) said on Monday it has agreed to acquire digital engineering firm Belcan …

Jing Yang / The Information: Sources: Shein recorded $32.2B in sales in 2023, up 40% YoY, compared with 37% YoY growth in 2022, and doubled its net profit to $1.6B, for a 5% profit margin  —  China-founded fast fashion giant Shein lifted its net profit margin even as it posted slightly faster revenue growth in 2023 …

Supantha Mukherjee / Reuters: Nokia CEO Pekka Lundmark made a phone call using new “immersive audio and video” tech that uses 3D sound on a 5G smartphone, as part of the 5G Advanced standard  —  Nokia (NOKIA.HE) CEO Pekka Lundmark made a phone call using a new technology called “immersive audio and video” …

Benedict Evans: A look at the problems of building AI products, like inaccurate answers, and potential solutions, like focusing on narrow domains and abstracting the outputs  —  I will fly to India on Monday for a brief trip, and so I just spent an hour struggling through a very buggy online visa application process.

John Thornhill / Financial Times: Q&A with Index Ventures' Dan Rimer on generative AI favoring the incumbents, concentration of returns, M&A in a challenging regulatory environment, and more  —  Markets and technology matter, says the VC veteran, but people are the decisive factor in choosing investments