Europe Won’t Allow Mercedes’ EV Performance Subscription Fee, For Now

Mercedes raised some worried eyebrows with its recent announcement to offer additional power for its EVs via subscription. For electric EQE and EQS models, Mercedes will bump their horsepower if customers pay an additional $1,200 per year. However, that’s going to remain a U.S. market service only for the time being, as Europe currently won’t Read more about Europe Won’t Allow Mercedes’ EV Performance Subscription Fee, For Now[…]

Ticketmaster’s Taylor Swift fiasco sparks Senate antitrust hearing

Kevin Mazur via Getty Images Ticketmaster’s chaotic handling of Taylor Swift’s tour ticket sales has brought the company under increased scrutiny, including from lawmakers. Sens. Amy Klobuchar (D-MN) and Mike Lee (R-UT), the chair and ranking member of the Senate Judiciary Subcommittee on Competition Policy, Antitrust and Consumer Rights, have announced a hearing to gather Read more about Ticketmaster’s Taylor Swift fiasco sparks Senate antitrust hearing[…]

AG Recruitment hires Seasonal workers, makes them pay a year’s salary on flights, then dumps them after 2 months leaving them hugely in debt

Nepali workers hired to pick fruit on British farms say they have been left thousands of pounds in debt after being sent home only weeks after they arrived. The fruit pickers were recruited under the government’s seasonal worker scheme and say they were offered work for six months. But less than two months after arriving, Read more about AG Recruitment hires Seasonal workers, makes them pay a year’s salary on flights, then dumps them after 2 months leaving them hugely in debt[…]

FTC Restores Rigorous Enforcement of Law Banning Unfair Methods of Competition, Might give them some teeth against mono/duopolists

The Federal Trade Commission issued a statement today that restores the agency’s policy of rigorously enforcing the federal ban on unfair methods of competition. Congress gave the FTC the unique authority to identify and police against these practices, beyond what the other antitrust statutes cover. But in recent years the agency has not always carried Read more about FTC Restores Rigorous Enforcement of Law Banning Unfair Methods of Competition, Might give them some teeth against mono/duopolists[…]

Antitrust Lawsuit Says Apple and Amazon Colluded to Raise iPhone, iPad Prices

A new antitrust class-action lawsuit accuses Apple Inc. and Amazon.com of colluding to raise the price of iPhones and iPads, […] The lawsuit, filed in the U.S. District Court for the Western District of Washington accuses Apple and Amazon of seeking to eliminate third-party Apple resellers on Amazon Marketplace in a scheme to stifle competition, Read more about Antitrust Lawsuit Says Apple and Amazon Colluded to Raise iPhone, iPad Prices[…]

Former Apple employee admits to defrauding the company out of $17 million

A former Apple employee has pled guilty to defrauding the company out of over $17 million. Dhirendra Prasad, who spent most of his decade at Apple working as a buyer in the Global Service Supply Chain department, admitted to “taking kickbacks, inflating invoices, stealing parts and causing Apple to pay for items and services never Read more about Former Apple employee admits to defrauding the company out of $17 million[…]

Billionaires Are Funding Climate Destruction

The world’s wealthiest people are responsible for about a million times more emissions than the world’s lowest earners when you take into account their investments, a new report has found. The report, issued Sunday by Oxfam, finds that the world’s 125 wealthiest people—including American billionaires Bill Gates, Jim Walton, Warren Buffett, and Elon Musk—have a Read more about Billionaires Are Funding Climate Destruction[…]

Did PayPal Just Reintroduce Its $2,500 ‘Misinformation’ / ‘I disagree with you’ / ‘I find this offensive’ Fine, Hoping We Wouldn’t Notice?

“On October 8th, PayPal updated its terms of service agreement to include a clause enabling it to withdraw $2,500 from users’ bank accounts simply for posting anything the company deems as misinformation or offensive,” reports Grit Daily. “Unsurprisingly, the backlash was instant and massive,” causing the company to backtrack on the policy and claim the Read more about Did PayPal Just Reintroduce Its $2,500 ‘Misinformation’ / ‘I disagree with you’ / ‘I find this offensive’ Fine, Hoping We Wouldn’t Notice?[…]

India fines Google ₹1,337.76 crore ($162 million) for Android monopoly abuse

India’s Competition Commission has announced it will fine Google ₹1,337.76 crore (₹13,377,600,000 or $161.5 million) for abusing its dominant position in multiple markets in the Android Mobile device ecosystem and ordered the company to open the Android ecosystem to competition […] The Commission found Google was dominant in all five markets and worked to preserve Read more about India fines Google ₹1,337.76 crore ($162 million) for Android monopoly abuse[…]

French appeals court slashes Apple’s paltry 1 week profit price fixing anti competition fine

Instead of a week of profits, mere days of net income for Cook €1.1 billion fine levied against Apple by French authorities has been cut by two-thirds to just €372 million ($363 million) – an even more paltry sum for the world’s first company to surpass $3 trillion in market valuation. The three-comma invoice was Read more about French appeals court slashes Apple’s paltry 1 week profit price fixing anti competition fine[…]

Binance forced to briefly halt transactions following $100 million blockchain hack

Binance temporarily suspended fund transfers and other transactions on Thursday night after it discovered an exploit on its Smart Chain (BSC) blockchain network. Early reports said hackers stole cryptocurrency equivalent to more than $500 million, but Binance chief executive Changpeng Zhao said that the company estimates the breach’s impact to be between $100 million and Read more about Binance forced to briefly halt transactions following $100 million blockchain hack[…]

Meta ordered to pay $175 million in patent infringement case

A federal judge in Texas has ordered the company to pay Voxer, the developer of app called Walkie Talkie, nearly $175 million as an ongoing royalty. Voxer accused Meta of infringing its patents and incorporating that tech in Instagram Live and Facebook Live. In 2006, Tom Katis, the founder of Voxer, started working on a Read more about Meta ordered to pay $175 million in patent infringement case[…]

The World’s Largest Four-Day Work Week Experiment Shows Success

[…] In June, more than 3,300 employees across the United Kingdom began participating in a six-month experiment to test the efficacy of a four-day work week, which was organized by the nonprofit 4 Day Global. The pilot program has now reached its halfway point, and 4 Day Global is reporting overwhelmingly positive results. More specifically, Read more about The World’s Largest Four-Day Work Week Experiment Shows Success[…]

GME retail investors Are Angry Over Netflix’s GameStop Documentary Trailer

[…] Stonk bros are mad at the doc for a few different reasons, but the two big things that keep coming up are the supposed lack of input from investors on r/SuperStonk and r/WallStreetBets and because of the final line of the trailer, spoken by journalist Taylor Lorenz. The trailer ends with her seemingly poking Read more about GME retail investors Are Angry Over Netflix’s GameStop Documentary Trailer[…]

War profiteering Finland govt nationalises 1% of energy companies

With Russia closing the gas pipelines to Europe as a catalyst and using the people of Finland as blackmail material the Finnish government is taking control of company payment structures and grabs 1% of any company that signs up to the possibility of taking a loan from the government at extortionate interest rates. It’s pretty Read more about War profiteering Finland govt nationalises 1% of energy companies[…]

Pharma Startup President Convicted in Fake Covid Testing Scheme

Blood testing huckster and former Arrayit president Mark Schena has been convicted in a covid-19 and allergy test scheme that allegedly resulted in nearly $80 million worth of fraudulent claims. Schena, who was convicted on five separate charges, could potentially spend decades in prison, according to the Department of Justice The DOJ alleges Schena misled Read more about Pharma Startup President Convicted in Fake Covid Testing Scheme[…]

Google tests alternative payment methods in Play store, still takes 4% cut

The move comes in response to growing pressure on app store operators to give developers options, as Epic Games sought in its dispute with Apple and the government of South Korea required with legislation. The EU’s Digital Markets Act also seeks to limit Big Tech’s gatekeeping powers and was designed to stop Google prioritizing its Read more about Google tests alternative payment methods in Play store, still takes 4% cut[…]

Chinese tickers scam ($HKD and more!) for collateral already down 92%: from $.5 Trillion to $43B

This is a follow up to the big chinese ticker scam, which became the highest by-market-crap-on-the-books crime in human history, as well as another recent ticker scam. Firstly, good job for staying away from these. MSM did try hard to call them ‘mEmE StOcKs’. MSM tried even harder to push innocent investors like you and Read more about Chinese tickers scam ($HKD and more!) for collateral already down 92%: from $.5 Trillion to $43B[…]

Cryptocurrency firm Nomad offers 10% bounty to hackers who stole $190 million

Hackers recently stole $190 million from cryptocurrency cross-chain token platform Nomad, and now the company says it will pay a bounty to the thieves if they return those assets. Nomad says it will pay the hackers an amount that is worth up to 10% of the stolen funds and call off its lawyers after the Read more about Cryptocurrency firm Nomad offers 10% bounty to hackers who stole $190 million[…]

Riot Blockchain Made More in Power Credits Than Mining Bitcoin

At least one big bitcoin mining operation in Texas that was not actually mining much bitcoin during this season’s record-breaking heat netted millions of dollars in profits—more than they would have if they just kept on mining without any shutdowns. It’s thanks to power purchase agreements signed with the local grid, allowing them to sell Read more about Riot Blockchain Made More in Power Credits Than Mining Bitcoin[…]

AMTD Digital / $HKD massive pump and dump squeeze, Reddit shocked but figuring out who dun it

HKD, a spinoff IPO with 51 employees within the space of a few days had a stock price explosion up to around $2555 per stock from around $75 starting on 28th July. No buy button was disabled (as was the case with Gamestop / $GME) and within a few days the rug was pulled on Read more about AMTD Digital / $HKD massive pump and dump squeeze, Reddit shocked but figuring out who dun it[…]

Solana ‘hot’ wallets are being drained in multi-million dollar attack

An unknown actor has drained over 8,000 internet-connected wallets in an ongoing attack on the Solana blockchain ecosystem. According to Blockchain auditor OtterSec, the attacks were still ongoing when it posted an update in the evening of August 2nd and that they had affected multiple wallets, including Phantom, Slope, Solflare and TrustWallet, across a wide Read more about Solana ‘hot’ wallets are being drained in multi-million dollar attack[…]

Nomad Bridge Hack Allowed ‘Mob’ to Drain $190m in Crypto

As evidenced by its namesake, apparently there wasn’t much security stopping a hoard of wandering strangers from breaking into the Nomad DeFi project’s token bridge, allowing hundreds of unknown hackers and some users to walk away with over $190 million crypto, leaving behind a bare pittance in the project’s wallet. Late on Monday, users started Read more about Nomad Bridge Hack Allowed ‘Mob’ to Drain $190m in Crypto[…]

Visa Funded Alleged Pornhub / MindGeek Child Porn, Rules Judge

In a setback for Visa in a case alleging the payment processor is liable for the distribution of child pornography on Pornhub and other sites operated by parent company MindGeek, a federal judge ruled that it was reasonable to conclude that Visa knowingly facilitated the criminal activity. On Friday, July 29, U.S. District Judge Cormac Read more about Visa Funded Alleged Pornhub / MindGeek Child Porn, Rules Judge[…]

Babel Finance Traded $280 Million of Users’ Crypto, Lost it All. Line not go up any more.

Babel Finance, the Hong Kong-based crypto lender, apparently had other designs when its worldwide user base handed over their crypto to the company than just borrowing and lending. It seems to have been doing what everyone else does with crypto, rapidly speculating and trying to make “line go up.” Of course, all that changed when Read more about Babel Finance Traded $280 Million of Users’ Crypto, Lost it All. Line not go up any more.[…]