Terra Quantum CEO in Spat With Investor Lakestar Amid Fundraising Talks
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Terra Quantum AG Chief Executive Officer Markus Pflitsch's relationship with investor Lakestar Capital Partners is deteriorating as the Swiss quantum computing startup seeks a fresh round of funding, people familiar with the matter said.
Terra Quantum has been speaking with investors about raising about $100 million to $150 million, people familiar with the matter said, asking not to be identified because the details are confidential. Lakestar indicated earlier this year it will only agree to provide new investment if Pflitsch is removed, the people said.
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Los Angeles Times
3 hours ago
- Los Angeles Times
After more than 100 years in operation, Cole's French Dip to close permanently
Cole's French Dip, the oldest restaurant and saloon in Los Angeles, is slated to close its doors on August 3. The last day of service for the landmark restaurant, which claims to have invented the French dip, will be August 2. 'The litany of reasons for closing are not unique to Cole's alone; they are affecting most independent restaurants in Los Angeles,' said owner Cedd Moses in a press release announcing the restaurant's closure. 'The global pandemic, the actors and writers strikes, overall crime, as well as the consistently rising costs of labor and goods, unsustainably high rents and mounting bureaucracy and legal exposure have all led to this unfortunate outcome.' Founded by Henry Cole in 1908, Cole's French Dip opened as Cole's Pacific Electric Buffet, named after the Pacific Electric Building in which it's housed. Lore has it that the eponymous dish originated when a customer with a bad case of sore gums asked for his sandwich to be lowered into the jus because the French roll was too crunchy for him. (In Chinatown, Philippe the Original also claims to have created the dish.) The 21st century iteration of Cole's French dip sandwich comes with a choice of roast beef, braised pork or lamb, or pastrami, served on a crusty roll lined with melted cheese (Swiss, cheddar, American or goat), a pickle spear and a cup of au jus for dipping. It's still one of the most popular items on the menu. 'We have cherished our time serving the Downtown community, and will continue to craft great drinks and our renowned French dip sandwiches until we shutter,' the press release stated. 'We care deeply about our family of staff and are immensely grateful for our amazing guests who have supported Cole's over the years. We invite you to come in to see us this month before our departure, to laugh, to cry, to raise glasses, to eat, and to say your goodbyes right alongside us.' Despite its long-standing ties to the local food scene, Brian Lenzo, the senior vice president of operations for Pouring With Heart, the ownership group which took over the restaurant in 2008, said the 'writing was on the wall for a long time.' In addition to rising costs of labor and rent, the historic core of downtown has increasingly deteriorated, he said; nearly every other day Cole's employees have to clean human feces from the storefront. Lenzo said he hopes the fate of Cole's — like other historic L.A. restaurants that have recently shuttered permanently — will serve as a 'catalyst' for the community to rally behind local businesses. 'By the time the Olympics get here, all these mom and pops will be gone,' he said. 'Hopefully it's a wake up call for the right people to step up and figure out a plan.' As news of the impending closure spread on social media, patrons began sharing their favorite memories at the iconic diner. But the announcement has rocked the downtown L.A. community in particular. DTLA Insider was also one of the first to announce the closure on Instagram on Sunday. Media Moussavy, who runs the popular account, said, 'You have to improve the environment before anyone wants to open up a business here. ' 'This [restaurant] has lasted the Great Depression, World Wars, every economic downturn, and it's sad to see that this is the final straw that brings it down,' he added. Cole's has seen such a surge in business since the closing announcement that it had to pull in bartenders from sister establishments, said Lenzo. The restaurant also plans to invite past bartenders to come serve the community for a final time. 'We've seen a lot of outreach, people in L.A. love L.A., they have pride in L.A.,' said Lenzo. 'To have to say goodbye, it's something that scars the city a little bit.' At this time, there are no plans to save Cole's — though Moses, who has been a fan of the restaurant since childhood, said he is feeling 'hopeful that someone will buy Cole's and can carry on the tradition.' This story is developing.
Tom's Guide
9 hours ago
- Tom's Guide
Proton sues Apple to fight back against the company's 'predatory practices'
Swiss privacy advocates Proton have joined an existing class-action lawsuit against Apple. The company is challenging the US tech giant's App Store policies, which it describes as "anti-competitive." Proton operates one of the best VPNs, Proton VPN, and is a champion of online freedom, privacy, and security. Confronting Apple is not a decision Proton has taken lightly, but it believes the "action is necessary." Apple's practices are said to harm developers and consumers. Proton is a plaintiff in the case and is representing and suing on behalf of a class of similarly situated developers – all impacted by Apple's conduct. The case challenges Apple's monopolization of the markets for iOS app distribution and iOS app payment processing. Legal papers say "Apple has eliminated competition and extracted supracompetitive profits from app developers through a web of exclusionary conduct" – this means higher profits than what would be present in a competitive market. This lawsuit is seeking to restore competition to the iOS app distribution and payment processing markets. Damages for developers are also being sought for harm suffered through Apple's "illegal monopolization." Court papers were filed on 30 June 2025 in the US District Court for the Northern District of California. In its blog post, Proton describes Apple as "one of the most powerful corporations in the history of capitalism." But it states the company's App Store policies are considered "anti-competitive and illegal" in numerous countries. Proton says all developers are required to pay an annual fee of $99 to be on the App Store. It says iOS apps are forced to use Apple's payment system and a 30% cut is taken by Apple from payments made through iOS apps. "Apple's monopoly control of software distribution on iOS devices presents a myriad of problems for consumers, businesses, and society as a whole," Proton said. It went on to say that "privacy-first companies that monetize through subscriptions are disproportionately hit by this fee, putting a major barrier toward the adoption of privacy-first business models." Free services – including those that pose a risk to your privacy by monetizing your data – aren't affected as they don't process payments through the App Store. Proton argues that this gives Apple "a dangerous level of control over app distribution" and allows it to "decide which apps can and cannot be distributed in different markets." Apple has historically been involved with removing a number of VPN apps from the App Store. In 2024 this was done at the request of Russian authorities, and in 2025 VPN apps were removed from the App Store in India. On April 22, Apple was fined €500m by the European Commission for breaches of European competition law. On April 30, Apple was found to have defied a court order concerning its anti-competitive conduct. Judge Yvonne Gonzalez Rogers referred the company to the US attorney for Northern District of California, with potential criminal prosecution being explored. After this ruling, Proton CEO Andy Yen said that no "Apple tax" would lead to a 30% reduction in price for Proton users. In response to the recent court ruling in the US against Apple's illegal in-app purchase monopoly, @ProtonPrivacy will finally be allowed to let iOS users purchase subscriptions outside of the app store. No Apple tax means we will lower prices for users by up to 30%.May 1, 2025 The UK, Brazil, the Netherlands, and South Korea have all taken action against Apple's anti-competitive behavior. In May, the Korean Publishers Association filed a parallel class-action lawsuit against Apple – something which sparked Proton's own urgency. Proton said its outcome, and any settlement, could "be binding on all other developers." Proton wants to end Apple's anti-competitive behavior and enact beneficial policy changes. It said: "We are seeking to permanently end anti-competitive behavior on the App Store, and we are joining this lawsuit to ensure that any future settlement enforces real changes to Apple's practices and policies to benefit all consumers, developers, and competition, and not just cosmetic changes." "Proton will donate any money we receive from the lawsuit to organizations fighting for democracy and human rights so that some portion of Apple's profits made from countries with authoritarian regimes are redirected to freedom." Proton said its primary shareholder and overseer, the non-profit Proton Foundation, will coordinate these donations. The company expects a lengthy, and "difficult" fight but its mission of creating a free, open, and privacy-focused internet, gives it no choice. Tom's Guide has approached Apple for comment but has not received a reply at the time of writing. We will update this article should we receive a response. We test and review VPN services in the context of legal recreational uses. For example: 1. Accessing a service from another country (subject to the terms and conditions of that service). 2. Protecting your online security and strengthening your online privacy when abroad. We do not support or condone the illegal or malicious use of VPN services. Consuming pirated content that is paid-for is neither endorsed nor approved by Future Publishing.
Chicago Tribune
12 hours ago
- Chicago Tribune
Waukegan chief of staff brings federal experience to City Hall; ‘I was kind of like the Swiss army knife'
Joshua May started working when he was young, took an interest in politics as a field organizer in former State Sen. Melinda Bush's, D-Grayslake, 2016 campaign and worked for several state and federal officials the next four years, including U.S. Rep. Brad Schneider, D-Highland Park. Making his home in Waukegan in 2019 while holding his political jobs, May eventually became chief of staff for U.S. Rep. Bob Morgan, D-Deerfield. In early 2021, an opportunity took him from Waukegan to Washington, D.C., where he joined President Joe Biden's administration. Starting in the U.S. Office of Management and Budget, May became deputy chief of staff in the department for over a year until his job ended on Jan. 20, 2025, as Biden left office at the end of his term. He then chose to return to Waukegan, where he will ply his skills for Mayor Sam Cunningham. May started his job as Cunningham's chief of staff last week at City Hall in Waukegan excited to be back in the hometown of his adulthood and ready to use experience acquired at the highest level of government to help the mayor fulfill his vision for the city he started leading again on May 5. Rejecting the idea of becoming a lobbyist in Washington, May said he wanted to go somewhere and do something where he could use the experience he gained in the White House to have a positive impact on people's lives. 'Waukegan's got a place in my heart,' May said. 'The city has a lot of good potential with the lakefront, the harbor and a downtown becoming relevant again. It's a melting pot for Lake County and Illinois.' Initially his responsibilities in the Biden administration were personnel-related. He learned to understand human resources skills, and said he developed a knack for working with people which he intends to transfer to the Waukegan mayor's office. His responsibilities were multifaceted. 'I was kind of like the Swiss army knife,' May said. 'I learned process and people management. When you know the process, you can understand and distill complex issues. That's how you build (effectiveness) in City Hall with more than 500 employees, to help them be most effective for the taxpayers. They have to understand we're all in this together.' Understanding May's ties to the area, knowing he worked for Schneider and learning what he did in Washington, Cunningham said he reached out to him about the chief of staff job. May offered his help to the incoming mayor. 'He brings to the city experience at multiple levels of government,' Cunningham said. 'I will need assistance like that in the mission I'm undertaking to rebuild Waukegan. He understands we are a melting pot. From his time in the White House, he understands serving people.' Schneider said in an email he watched May grow from a staff assistant in his Lincolnshire congressional office to his campaign's political director, and then 'serving the most senior levels of our government in the Biden administration.' It 'is a testament to his unwavering dedication to public service and deep understanding of how government can improve lives,' Schneider said. 'I know he'll bring both heart and strategic vision to the role. I look forward to partnering with them, both as they work to build a brighter future for Waukegan.' Growing up in Chicago's Rogers Park neighborhood as a youngster, May said his family moved to the Deerfield area when it was time to start middle school. He graduated from Adlai E. Stevenson High School in 2009. Spending two years at the College of Lake County between 2011 and 2013, May went to work full-time. After helping Bush get elected in 2016, he became a staff assistant for Schneider, eventually becoming the political director for the congressman's 2018 reelection campaign.
