Category: Economics

Only 5 years too late: British regulators to examine Big Tech’s digital wallets – and where is the EU?

Posted on by Robin Edgar

British regulators said on Monday they were looking into the soaring use of digital wallets offered by Big Tech firms, including whether there are any competition, consumer protection or market integrity concerns. The Financial Conduct Authority and Payments Systems Regulator is seeking views on the benefits and risks, and will assess the impact digital wallets, Read more about Only 5 years too late: British regulators to examine Big Tech’s digital wallets – and where is the EU?[…]

Apple settles EU case by opening its iPhone payment system to rivals

Posted on by Robin Edgar

The EU on Thursday accepted Apple’s pledge to open its “tap to pay” iPhone payment system to rivals as a way to resolve an antitrust case and head off a potentially hefty fine. The European Commission, the EU’s executive arm and top antitrust enforcer, said it approved the commitments that Apple offered earlier this year Read more about Apple settles EU case by opening its iPhone payment system to rivals[…]

India antitrust probe finds Apple abused position in apps market

Posted on by Robin Edgar

NEW DELHI, July 12 (Reuters) – An investigation by India’s antitrust body has found that Apple exploited its dominant position in the market for app stores on its iOS operating system, engaging “in abusive conduct and practices”, a confidential report seen by Reuters showed. The Competition Commission of India (CCI) has been investigating Apple Inc Read more about India antitrust probe finds Apple abused position in apps market[…]

European Commission probes Amazon, Temu, Shein over ad recommendation systems

Posted on by Robin Edgar

The European Commission has sent a request for information to Amazon on measures taken to comply with a landmark EU law on content moderation, the Digital Services Act (DSA), according to a Friday (5 July) press release. It’s the latest in a barrage of similar requests, accusations, and fines from the EU executive against big Read more about European Commission probes Amazon, Temu, Shein over ad recommendation systems[…]

Dior Paid a Contractor $57 to Make a Bag That Sold for Nearly $2,800 under really bad working conditions

Posted on by Robin Edgar

Italian prosecutors in Milan investigated the LVMH subsidiary Dior’s use of third-party suppliers in recent months. Prosecutors said these companies exploited workers to pump out bags for a small fraction of their store price. Citing documents examined by authorities, Reuters reported last month that Dior paid a supplier $57 to produce bags that retailed for Read more about Dior Paid a Contractor $57 to Make a Bag That Sold for Nearly $2,800 under really bad working conditions[…]

Universal income experiment in Denver leads to predictable results – less tax $ spent, less homelessness

Posted on by Robin Edgar

An experiment to pay people who were homeless in Denver with no limits on how they could spend the money led to twice as many people in stable housing, according to researchers who released their one-year report Tuesday. More than 800 people were selected to participate in the Denver Basic Income Project while they were Read more about Universal income experiment in Denver leads to predictable results – less tax $ spent, less homelessness[…]

Eindhoven 3D printing service Shapeways files for bankruptcy

Posted on by Robin Edgar

The 3D printing service Shapeways, originally from Eindhoven, is bankrupt, both in the Netherlands and the US. Shapeways started in 2007 as a spin-off from Philips. The company let users design and upload their own 3D files, after which Shapeways could print the objects. The company has been listed on the American stock exchange since Read more about Eindhoven 3D printing service Shapeways files for bankruptcy[…]

Manipulators of GameStop shares sue ‘Roaring Kitty’ for manipulating GameStop but withdraw lawsuit for now

Posted on by Robin Edgar

NEW YORK, July 1 (Reuters) – Investors in GameStop (GME.N) , opens new tab have for now withdrawn their lawsuit accusing Keith Gill, who is known as “Roaring Kitty” and helped spur the meme stock mania of 2021, of defrauding them through a “pump-and-dump” scheme for the videogame retailer. A proposed class action accusing Gill Read more about Manipulators of GameStop shares sue ‘Roaring Kitty’ for manipulating GameStop but withdraw lawsuit for now[…]

Corrupt US supreme court thinks corruption is not corrupt and just basically legalized bribery

Posted on by Robin Edgar

[…] if you’re rich enough, says the US supreme court, you can now pay off state and local officials for government acts that fit your policy preferences or advance your interests. You can give them lavish gifts, send them on vacations, or simply cut them checks. You can do all of this so long as Read more about Corrupt US supreme court thinks corruption is not corrupt and just basically legalized bribery[…]

Nordic Online Store Boozt Blocks Thousands of ‘Serial Returners’

Posted on by Robin Edgar

Boozt AB, an online Nordic department store, has banned thousands of customers for returning an excessive number of purchased items. The retailer has blocked about 60,000 of a total 3.5 million customers, in a bid to reduce the significant costs associated with “serial returners,” the company said in a statement. “Their behavior is too expensive Read more about Nordic Online Store Boozt Blocks Thousands of ‘Serial Returners’[…]

EU Commission accuses Microsoft of breaking antitrust rules with bundled Teams app

Posted on by Robin Edgar

The European Commission said in a formal ‘statement of objections’ on Tuesday (25 June) that Microsoft had violated EU antitrust rules by bundling its Teams app with its Office 365 and Microsoft 365 productivity suites. The statement follows almost a year-long investigation, and the tech giant told Euractiv it would work to “address the Commission’s Read more about EU Commission accuses Microsoft of breaking antitrust rules with bundled Teams app[…]

E.U. starts swinging DMA, starts with monolithic monopolist Apple

Posted on by Robin Edgar

Apple is the first company to be charged with violating the Digital Markets Act, a law passed in 2022 that gives European regulators wide authority to force the largest “online gatekeepers” to change their business practices. The charges signal that the European Union, already known as an aggressive regulator of the tech industry, plans to Read more about E.U. starts swinging DMA, starts with monolithic monopolist Apple[…]

US / EU NATO Expenditure – is the balance really so lopsided?

Posted on by Robin Edgar

The visualisation of US vs EU spending on NATO going the rounds is pretty suspect: The Blue area contains not just the USA, but also Canada. The US defence budget is incorrect. It fails to take into account that the US is a global player with ambitions and commitments beyond NATO. It doesn’t show that Read more about US / EU NATO Expenditure – is the balance really so lopsided?[…]

Apple’s ‘incredibly private’ Safari not so private in Europe, allows

Posted on by Robin Edgar

Apple’s grudging accommodation of European antitrust rules by allowing third-party app stores on iPhones has left users of its Safari browser exposed to potential web activity tracking. Developers Talal Haj Bakry and Tommy Mysk looked into the way Apple implemented the installation process for third-party software marketplaces on iOS with Safari, and concluded Cupertino’s approach Read more about Apple’s ‘incredibly private’ Safari not so private in Europe, allows[…]

We never agreed to only buy HP ink, say printer owners

Posted on by Robin Edgar

HP “sought to take advantage of customers’ sunk costs,” printer owners claimed this week in a class action lawsuit against the hardware giant. Lawyers representing the aggrieved were responding [PDF] in an Illinois court to an earlier HP Inc motion to dismiss a January lawsuit. Among other things, the plaintiffs’ filing stated that the printer Read more about We never agreed to only buy HP ink, say printer owners[…]

Ubisoft is deleting The Crew from players’ libraries, reminding us we own nothing

Posted on by Robin Edgar

Ubisoft’s online-only racing game The Crew stopped being operable on April 1. Some users are reporting, however, that things have gone a bit further. They say that the company actually reached into Ubisoft Connect accounts and revoked the license to access the game, according to reports by Game Rant and others. Some of these users Read more about Ubisoft is deleting The Crew from players’ libraries, reminding us we own nothing[…]

10 second Euro Instant payments now mandatory in NL

Posted on by Robin Edgar

It will become mandatory for payment service providers, such as banks, that offer standard credit transfers in euros to offer the sending and receipt of instant payments in euros. The regulation relating to this has now been published. Thanks to the regulation, people will be able to transfer money within 10 seconds at any time Read more about 10 second Euro Instant payments now mandatory in NL[…]

Software vendors dump open source, go for the cash grab – Redis is the latest

Posted on by Robin Edgar

Essentially, all software is built using open source. By Synopsys’ count, 96% of all codebases contain open-source software. Lately, though, there’s been a very disturbing trend. A company will make its program using open source, make millions from it, and then — and only then — switch licenses, leaving their contributors, customers, and partners in Read more about Software vendors dump open source, go for the cash grab – Redis is the latest[…]

Project Ghostbusters: Facebook Accused of Using Your Phone to Wiretap Snapchat, Youtube, Amazon through Onavo VPN

Posted on by Robin Edgar

Court filings unsealed last week allege Meta created an internal effort to spy on Snapchat in a secret initiative called “Project Ghostbusters.” Meta did so through Onavo, a Virtual Private Network (VPN) service the company offered between 2016 and 2019 that, ultimately, wasn’t private at all. “Whenever someone asks a question about Snapchat, the answer Read more about Project Ghostbusters: Facebook Accused of Using Your Phone to Wiretap Snapchat, Youtube, Amazon through Onavo VPN[…]

Apple accused of monopolizing smartphone markets by US and 15 states. Loses $115 billion market cap

Posted on by Robin Edgar

The U.S. Department of Justice and 15 states on Thursday sued Apple (AAPL.O) , opens new tab as the government cracks down on Big Tech, alleging the iPhone maker monopolized the smartphone market, hurt smaller rivals and drove up prices. Apple joins competitors sued by regulators, including Alphabet’s (GOOGL.O) , opens new tab Google, Meta Read more about Apple accused of monopolizing smartphone markets by US and 15 states. Loses $115 billion market cap[…]

Epic accuses Apple of flouting court order by charging for external links on iOS apps

Posted on by Robin Edgar

Epic Games has already accused Apple of “malicious compliance” with the EU’s new competition laws, and now it’s making the same allegation stateside. In a new legal filing, it accused Apple of non-compliance with a 2021 ruling that allowed developers to bypass Apple’s 30 percent cut of in-app payments and is asking the court to Read more about Epic accuses Apple of flouting court order by charging for external links on iOS apps[…]

Brave, Mozilla, Vivaldi see browser installs rise on iOS since DMA – forcing competition does indeed give rise to diversity. Now Google.

Posted on by Robin Edgar

Since Apple implemented a browser choice screen for iPhones earlier this month to comply with Europe’s Digital Markets Act (DMA), Brave Software, Mozilla, and Vivaldi have seen a surge in the number of people installing their web browsers. It’s an early sign the Europe Union’s competition rules may actually … get this … enhance competition Read more about Brave, Mozilla, Vivaldi see browser installs rise on iOS since DMA – forcing competition does indeed give rise to diversity. Now Google.[…]

Apple stamps feet but now to let EU developers distribute apps from the web

Posted on by Robin Edgar

Apple’s compliance measures with the EU’s Digital Markets Act haven’t exactly been universally well received, so the iMaker is making a few tweaks to appease the software-developing masses. In a post to its developer site today, Apple said it is modifying not only how developers can distribute apps, but also changing the structure of alternative Read more about Apple stamps feet but now to let EU developers distribute apps from the web[…]

Alternatieve iPhone app stores stop working when you travel outside of the EU

Posted on by Robin Edgar

iOS 17.4 is the first version of Apple’s operating system to comply with the regulatory framework of the European Digital Markets Act. Apple must also support alternative app stores, where apps can be installed around the App Store. The availability of this functionality is only geographically limited to the EU, and Apple has revealed for Read more about Alternatieve iPhone app stores stop working when you travel outside of the EU[…]