Major crypto scammer sentenced to 15 years in prison

The mastermind behind what the government says is one of the largest cryptocurrency Ponzi schemes prosecuted in the US has been sentenced to 15 years in prison. While crypto scams have been getting increasingly common, Swedish citizen Roger Nils-Jonas Karlsson defrauded thousands of victims and stole tens of millions of dollars over a period that Read more about Major crypto scammer sentenced to 15 years in prison[…]

Three-dozen US states plus DC sue Google over Play Store’s revenue cut, payment system, and more

As expected, Google is facing a fresh legal assault regarding its Play Store, the 30 per cent cut it took from developers’ revenues via the software souk, and other rules and restrictions. In an antitrust lawsuit [PDF] filed in a federal district court in San Francisco on Wednesday, 36 US states and commonwealths, plus Washington Read more about Three-dozen US states plus DC sue Google over Play Store’s revenue cut, payment system, and more[…]

TikTok’s AI is now available to other companies

TikTok’s AI is no longer a secret — in fact, it’s now on the open market. The Financial Times has learned that parent company ByteDance quietly launched a BytePlus division that sells TikTok technology, including the recommendation algorithm. Customers can also buy computer vision tech, real-time effects and automated translations, among other features. BytePlus debuted Read more about TikTok’s AI is now available to other companies[…]

FTC Charges Broadcom With Monopolization of Chip Industry

The Federal Trade Commission has filed charges against Broadcom over allegations that the chip maker monopolized the market for semiconductor components, the agency announced Friday. According to the commission’s complaint, Broadcom entered into long-term exclusivity and loyalty agreements with both original equipment manufacturers and service providers to prevent them from buying chips from Broadcom’s rivals. Read more about FTC Charges Broadcom With Monopolization of Chip Industry[…]

Jeff Bezos Steps Down as Amazon’s CEO After 27 Years

DAN HOWLEY: On July 5, Jeff Bezos, the richest person on Earth, will officially step down as CEO of the company he founded in 1994. Amazon will continue to exist, of course. It’s one of the wealthiest publicly traded companies in the world with a market capitalization of $1.7 trilion […] As for Bezos, he’ll Read more about Jeff Bezos Steps Down as Amazon’s CEO After 27 Years[…]

Apple’s developer problems are much bigger than Epic and ‘Fortnite’

Near the end of the Epic v. Apple trial, Judge Yvonne Gonzales Rogers had some pointed questions for Tim Cook on the state of Apple’s relationship with its developers. Citing an internal survey of developers, she noted that 39 percent of them indicated they were unhappy with the App Store’s distribution. What incentive, then, she Read more about Apple’s developer problems are much bigger than Epic and ‘Fortnite’[…]

Who Are the Dividend Aristocrats in 2021?

  The Dividend Aristocrats in 2021 Legendary investor George Soros once said, “Good investing should be boring”. But an increase in volatile themes today suggests this maxim has gone ignored by at least some market participants. From a high level, we can view investments on a spectrum. Volatile assets like cryptocurrencies and SPACs are more Read more about Who Are the Dividend Aristocrats in 2021?[…]

Lord of the Roths: How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank

Billionaire Peter Thiel, a founder of PayPal, has publicly condemned “confiscatory taxes.” He’s been a major funder of one of the most prominent anti-tax political action committees in the country. And he’s bankrolled a group that promotes building floating nations that would impose no compulsory income taxes. But Thiel doesn’t need a man-made island to Read more about Lord of the Roths: How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank[…]

Regulators Crack Down on Crypto Exchange Binance in UK, Japan, Germany, and Ontario, Canada

The Wall Street Journal reports: Authorities in the U.K. and Japan took aim at affiliates of Binance Holdings Ltd., the world’s largest cryptocurrency exchange network, in the latest regulatory crackdown on the wildly popular trade in bitcoin and other digital assets. The U.K. Financial Conduct Authority, the country’s lead financial regulator, told consumers Saturday that Read more about Regulators Crack Down on Crypto Exchange Binance in UK, Japan, Germany, and Ontario, Canada[…]

You Don’t Own What You’ve Bought: Peloton Treadmill Edition

We’ve written so many stories about how you don’t own what you’ve bought any more due to software controls, DRM, and ridiculous contracts, and it keeps getting worse. The latest such example involves Peloton, which is most known for its extremely expensive stationary bikes with video screens, so that you can take classes (usually on Read more about You Don’t Own What You’ve Bought: Peloton Treadmill Edition[…]

South Africa Africrypt Bitcoin Scam? Cajee Brothers Missing Along With Billions – second huge scam in SA

A pair of South African brothers have vanished, along with Bitcoin worth $3.6 billion from their cryptocurrency investment platform. A Cape Town law firm hired by investors says they can’t locate the brothers and has reported the matter to the Hawks, an elite unit of the national police force. It’s also told crypto exchanges across Read more about South Africa Africrypt Bitcoin Scam? Cajee Brothers Missing Along With Billions – second huge scam in SA[…]

Hyundai completes deal for controlling interest in Boston Dynamics (walking robodog maker)

Hyundai this morning announced that it has completed its acquisition of Boston Dynamics. The deal, which values the innovative robotics company at $1.1 billion, was announced in late-2020. The companies have not disclosed any future financial details. The South Korean automotive giant now owns a controlling interest in Boston Dynamics, previously belonging to SoftBank. The Read more about Hyundai completes deal for controlling interest in Boston Dynamics (walking robodog maker)[…]

China Bitcoin Crackdown Leads To BTC Price Plummet and also Cheaper Graphics Cards

With graphics cards seeming harder to get than ever, China’s stricter measures against Bitcoin mining have led to lower prices online in the country. In Yunnan, the country’s fourth-largest Bitcoin-producing province, authorities have been investigating illegal electrical power use tied to Bitcoin mining and are threatening to cut power to those involved in the practice. Read more about China Bitcoin Crackdown Leads To BTC Price Plummet and also Cheaper Graphics Cards[…]

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[…]