Recent US Antitrust Push Is Weirdly Narrow, Pretends Telecom And Banking Don’t Exist

[…] The U.S. is dominated by anticompetitive giants in banking, telecom, insurance, health care, air travel, and countless other sectors. And generally, we’ve historically encouraged them by underfunding our regulators, steadily weakening antitrust enforcement, rubber stamping merger after terrible merger, and replacing competent Judges with bobble head dolls. All under the pretense that doing anything Read more about Recent US Antitrust Push Is Weirdly Narrow, Pretends Telecom And Banking Don’t Exist[…]

Android, Apple Mobile Ecosystems Face UK Antitrust Probe Amid Competition Fears

Google and Apple Inc. face a sweeping probe into the “duopoly” power of their mobile ecosystems, in the U.K. antitrust watchdog’s latest attack on Silicon Valley. The increasingly tech-focused Competition and Markets Authority opened a 12-month market study into broad aspects of the iOS and Android systems, saying it feared the companies’ dominance is stifling Read more about Android, Apple Mobile Ecosystems Face UK Antitrust Probe Amid Competition Fears[…]

Risk and reward: Nefilim ransomware gang mainly targets fewer, richer companies and that strategy is paying off, warns Trend Micro

The Nefilim ransomware gang might not be the best known or most prolific online extortion crew but their penchant for attacking small numbers of $1bn+ turnover firms is paying off, according to some latest research. The crew has made comparatively fewer headlines next to better-known criminals such as Darkside, perpetrators of the infamous US Colonial Read more about Risk and reward: Nefilim ransomware gang mainly targets fewer, richer companies and that strategy is paying off, warns Trend Micro[…]

DOJ Vows to Hunt Down Whoever Let the Public Know How Little Billionaires Pay in Taxes

This week, ProPublica released a massive scoop—a treasure trove of financial records showing how some of the U.S.’s wealthiest billionaires scamper off with virtually no tax burden. And the U.S. government knows exactly what to do in response: find whoever released those embarrassing records and incarcerate the shit out of them. Priorities, people! ProPublica obtained Read more about DOJ Vows to Hunt Down Whoever Let the Public Know How Little Billionaires Pay in Taxes[…]

Return to Office: Employees Are Quitting Instead of Giving Up Work From Home

[…] A May survey of 1,000 U.S. adults showed that 39% would consider quitting if their employers weren’t flexible about remote work. The generational difference is clear: Among millennials and Gen Z, that figure was 49%, according to the poll by Morning Consult on behalf of Bloomberg News. “High-five to them,” said Sara Sutton, the Read more about Return to Office: Employees Are Quitting Instead of Giving Up Work From Home[…]

EU starts protectionist measures, increasing prices of Chinese E-Commerce imports

At Amazon in Spain, France and Italy, Chinese sellers already make up more than half of the largest merchants in the marketplace, says market research firm Marketplace Pulse. The Thuiswinkel Markt Monitor shows that we in the Netherlands spent 1.1 billion euros on products from abroad in 2019. Chinese online stores, such as AliExpress, are Read more about EU starts protectionist measures, increasing prices of Chinese E-Commerce imports[…]

Italy fines Google $123 million for blocking an EV app from Android Auto

[…] Italy’s competition watchdog has ordered Google to pay over €100 million ($123 million) for abuse of its dominant position. The regulator said Google had shut out an electric vehicle recharging app from its Android Auto infotainment platform for cars for over two years. The company at the core of the action is Enel X Read more about Italy fines Google $123 million for blocking an EV app from Android Auto[…]

Environmental Commodities: What Are They & How Can You Trade Them?

Commodity.com has a huge and useful page on how to get started trading in environmental commodities. Unfortunately it won’t let me paste it into here easily so below is a list of the subjects they cover. They are also very transparent about how they make their money (through links on their site), which I thought Read more about Environmental Commodities: What Are They & How Can You Trade Them?[…]

Amazon knew seller data was used to boost company sales

Amazon CEO Jeff Bezos told U.S. lawmakers last year that the company has a policy prohibiting employees from using data on specific sellers to help boost its own sales. “I can’t guarantee you that that policy has never been violated,” he added. Now it’s clear why he chose his words so carefully. An internal audit Read more about Amazon knew seller data was used to boost company sales[…]

Amazon had sales income of €44bn in Europe in 2020 but paid no corporation tax

Fresh questions have been raised over Amazon’s tax planning after its latest corporate filings in Luxembourg revealed that the company collected record sales income of €44bn (£38bn) in Europe last year but did not have to pay any corporation tax to the Grand Duchy. Accounts for Amazon EU Sarl, through which it sells products to Read more about Amazon had sales income of €44bn in Europe in 2020 but paid no corporation tax[…]

Epic witness claims Apple’s App Store profit reaches 78%. Apple disagrees as their overall profit is “only” 42.5%

Epic Games is using its lawsuit against Apple to accuse the iPhone maker of being particularly greedy. As The Verge reports, expert witness Eric Barns testified that Apple supposedly had an App Store operating margin of 77.8 percent in 2019, itself a hike from 74.9 percent in 2018. He also rejected Apple witness’ claims that Read more about Epic witness claims Apple’s App Store profit reaches 78%. Apple disagrees as their overall profit is “only” 42.5%[…]

Appeals Court says Amazon is responsible for the safety of third-party products

ROBYN BECK/AFP via Getty Images Amazon may soon be more accountable for more products than the ones it directly sells. According to the LA Times, a California state appeals court has ruled that Amazon is responsible for the safety of third-party products available through its marketplace following a 2015 hoverboard fire. While the internet giant Read more about Appeals Court says Amazon is responsible for the safety of third-party products[…]

Activision Blizzard CEO Bobby Kotick takes 50% voluntary pay cut

Bobby Kotick, the longtime CEO of “Call of Duty” and “Candy Crush” game maker Activision Blizzard, will see his base salary reduced by 50% and bonus potential slashed as part of a 15-month contract extension, the company reported Thursday in an SEC filing. Why it matters: The cut isn’t a sign that the company is Read more about Activision Blizzard CEO Bobby Kotick takes 50% voluntary pay cut[…]

EU Charges Apple With Antitrust Violations in Spotify Case

the European Union has charged Apple with allegedly “abus[ing] its dominant position” in the music streaming market. The charges stem from an initial complaint filed by Spotify in 2019. At the time, Spotify accused Apple of having “an unfair advantage at every turn” by imposing a series of obstacles that favored its own services at Read more about EU Charges Apple With Antitrust Violations in Spotify Case[…]

Microsoft shakes up PC gaming by reducing Windows store cut to “just” 12 percent

Microsoft is shaking up the world of PC gaming today with a big cut to the amount of revenue it takes from games on Windows. The software giant is reducing its cut from 30 percent to just 12 percent from August 1st, in a clear bid to compete with Steam and entice developers and studios Read more about Microsoft shakes up PC gaming by reducing Windows store cut to “just” 12 percent[…]

Tesla Loses A Lot Of Money Selling Cars, But Makes It All Back On Credits And Bitcoin

On Monday after the close of business, Tesla announced its Q1 2021 financial results in its quarterly earnings call. The company turned a surprisingly large profit this quarter, but it didn’t do it by selling cars. Q1 net profit reached a new record for Tesla, at $438 million. Revenue for the electric car company was Read more about Tesla Loses A Lot Of Money Selling Cars, But Makes It All Back On Credits And Bitcoin[…]

Google Is Saving Over $1 Billion a Year by Working From Home

During the first quarter, Google parent Alphabet Inc. saved $268 million in expenses from company promotions, travel and entertainment, compared to same period a year earlier, “primarily as a result of COVID-19,” according to a company filing. On an annualized basis, that would be more than $1 billion. Indeed, Alphabet said in its annual report Read more about Google Is Saving Over $1 Billion a Year by Working From Home[…]

Google used ‘double-Irish’ to shift $75.4bn in profits out of Ireland

Google shifted more than $75.4 billion (€63 billion) in profits out of the Republic using the controversial “double-Irish” tax arrangement in 2019, the last year in which it used the loophole. The technology giant availed of the tax arrangement to move the money out of Google Ireland Holdings Unlimited Company via interim dividends and other Read more about Google used ‘double-Irish’ to shift $75.4bn in profits out of Ireland[…]

Man sues Apple for terminating Apple ID with $24K worth of content and no reason

Apple has been hit with a lawsuit alleging that its media services terms and conditions, which permit the company to terminate an Apple ID, are “unlawful” and “unconscionable.” The complaint, filed on Tuesday in the U.S. District Court for the Northern District of California, goes after an Apple services clause that states a user with Read more about Man sues Apple for terminating Apple ID with $24K worth of content and no reason[…]

CEO of Turkish Crypto Platform Thodex Flees Country as Users Say They’re Locked Out

Federal police in Turkey are investigating Thodex, a cryptocurrency trading platform that handles hundred of millions of dollars in trades every day, after users complained they’d been locked out of their accounts, according to new reports from Reuters and Turkey’s TRT World news service. CEO Faruk Fatih Ozer reportedly fled Turkey on Tuesday and 62 Read more about CEO of Turkish Crypto Platform Thodex Flees Country as Users Say They’re Locked Out[…]

Amazon Strong-arms Small Businesses to Share User Data

Amazon reportedly pressured smart-thermostat maker Ecobee to fork over data from its voice-enabled devices even when customers weren’t actively using them. When Ecobee pushed back, the e-commerce giant threatened to box the company out of high-profile selling events like Prime Day or refuse Alexa certification for future devices, according to a Wall Street Journal report Read more about Amazon Strong-arms Small Businesses to Share User Data[…]

$291 Adobe Cancelation Fee Sees Twitter Users Argue it’s ‘Morally Correct’ to Pirate Software

A $291 Adobe cancelation fee has provoked fierce criticism of the creative software company. A post from a customer has gone viral on Twitter, after he discovered that he would have to pay nearly $300 to bring his Creative Cloud subscription to an end. It has sparked a discussion about Adobe’s practices, with many others Read more about $291 Adobe Cancelation Fee Sees Twitter Users Argue it’s ‘Morally Correct’ to Pirate Software[…]