Amazon will pay a $61.7 million fine to settle allegations the company had failed to properly pay out tips to its Flex delivery drivers, the Federal Trade Commission (FTC) announced on Tuesday. The fine stems from a payment change the company implemented in late 2016. At the time, Amazon said Flex drivers, which use their Read more about FTC fines Amazon $61.7 million for withholding tips from Flex drivers[…]

Amazon announced on Tuesday that AWS CEO Andy Jassy will replace Jeff Bezos as CEO during the third quarter of this year. Bezos will transition to executive chair of Amazon’s board. In a statement, Bezos said: I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy Read more about Jeff Bezos To Step Down as Amazon CEO, Andy Jassy AWS Boss to succeed[…]

Below is from the CNBC website. SLV spiked yesterday and some people will have you believe it’s the Gamestop buying and holding redditors from wallstreetbets that are pushing it. They are not. SLV is being pushed up by Capital Investments, the people the redditors are trying to destroy. Below is a list of stories from Read more about CNBC, others tell you redditors want to pump SLV, others. They don’t. SLV is owned by Citadel, the people redditors hate. It’s only about GME, AMC, BB.[…]

Google has removed a wave of negative reviews of popular stock-market trading apps targeted by furious investors. Platforms such as Robinhood have been hit after preventing independent traders buying GameStop and AMC shares. Users of a Reddit message board had managed to upset the market by buying the shares and inflating their value, hitting established Read more about Google side with Hedge funds, wipes Play Store reviews of RobinHood by pissed off GameStop traders[…]

GameStop’s stock has continued to make big moves, briefly crossing $450 a share on Thursday, fueled by Reddit users collectively taking on the Wall Street establishment. But individual investors looking to make trades have faced multiple issues on trading sites and apps over recent days, with many experiencing service disruptions, according to Bloomberg. The frenzy Read more about Robinhood, TD Ameritrade restrict buying of GameStop, AMC stock – shorters continue game, killing pumpers. Reps + Dems agree market manipulation. The shorters are big customers and are reloading their short positions.[…]

After kicking off a historic rally around GameStop stock that has incited the ire of hedge fund tycoons and the SEC, the r/wallstreetbets channel was banned from Discord on Wednesday over apparent hate speech violations. While some on Reddit were quick to speculate that the server had been taken down by hackers as part of Read more about Here comes the slander: Discord Bans r/WallStreetBets For Hate Speech Violations[…]

Struggling retailer GameStop’s stock curiously hit an all time high today. But it’s not because Sony, Microsoft, and Nintendo suddenly decided to stop selling their games digitally. And it’s not because a new set of Funko Pops has taken the internet’s imagination by storm. No, the stock price jumped to an all-time high because some Read more about GameStop Stock Breaks Records As Reddit Traders War With Short Sellers[…]

Elastic CEO and co-founder Shay Banon has attacked AWS for what he claims is unacceptable use of the open-source Elasticsearch product and trademark. Banon’s post is part of the company’s defence of its decision to drop the open-source Apache 2.0 licence for its ElasticSearch and Kibana products and instead use the copyleft SSPL or restrictive Read more about AWS has been doing things that are ‘just NOT OK since 2015,’ says Elastic as firm yanks Apache 2.0 licence – FOSS blues[…]

A lengthy antitrust investigation into PC games geo-blocking in the European Union by distribution platform Valve and five games publishers has led to fines totalling €7.8 million (~$9.4 million) after the Commission confirmed today that the bloc’s rules had been breached.The geo-blocking practices investigated since before 2017 concerned around 100 PC video games of different Read more about Valve, Bandai, Capcom, Focus Home, Koch Media, Zenimax fined $9.4M by EU for illegal geo-blocking, antitrust collusion[…]

In 2017, Facebook said it was testing a new way of selling online advertising that would threaten Google’s control of the digital ad market. But less than two years later, Facebook did an about-face and said it was joining an alliance of companies backing a similar effort by Google.Facebook never said why it pulled back Read more about Behind a Secret Deal Between Google and Facebook – how monopolies define winners and kill losers[…]

Tesla is an oddity in the business landscape. The company’s stock is so stratospheric that Elon Musk has surpassed Jeff Bezos as the world’s richest person. Now, we have another mind-blowing metric. At Tesla’s current price-to-earnings ratio, it would take the company almost 1,600 years to make what the stock market says it’s worth.The New Read more about Tesla Would Take Nearly 1,600 Years To Make The Amount Of Money The Stock Market Values It At[…]

Epic Games intends to file a competition lawsuit against Google in the UK as part of the ongoing Fortnite-kicked-off-platforms saga, according to documents lodged with the Competition Appeal Tribunal.The lawsuit will allege that Google, holder of “a dominant position in the Android app distribution market”, has unfairly restricted “competition from alternative app stores and other Read more about Epic Games files competition lawsuit against Google in the UK over Fortnite’s ejection from Play Store[…]

[…] the estimated $100 million Uber apparently straight-up squandered on incredibly obvious, third-party digital advertising scams… something that is garnering mainstream coverage in the first days of 2021, despite coming to light back in February of last damn year. Twitter / @nandoodles You Google Played yourself — Former Sleeping Giants alum and co-founder of Check Read more about Uber wasted $100 million on useless digital ad campaigns[…]

China’s crackdown on Jack Ma’s empire is far from over: The country’s regulators have ordered the Ma-founded Alibaba affiliate Ant Group to scale down its business. In particular, they’ve ordered the company to “return to its origins” as a payment provider. Ant Group started out as Alipay, which became China’s largest digital payment platform, though Read more about China pushes Alibaba founder Jack Ma to downsize his finance business Ant Group[…]

China kicked off an investigation into alleged monopolistic practices at Alibaba Group Holding and summoned affiliate Ant Group Co. to a high-level meeting over financial regulations, escalating scrutiny over the twin pillars of billionaire Jack Ma’s internet empire. The probe announced Thursday marks the formal start of the Communist Party’s crackdown on the crown jewel Read more about China Targets Jack Ma’s Alibaba With Monopoly Investigation[…]

YouTube says it has found a “smoking gun” to prove that a class-action lawsuit filed by Grammy award-winning musician Maria Schneider and Pirate Monitor Ltd was filed in bad faith. According to the Google-owned platform, the same IP address used to upload ‘pirate’ movies to the platform also sent DMCA notices targeting the same batch Read more about YouTube Class Action: Same IP Address Used to Upload ‘Pirate’ Movies & File DMCA Notices[…]

Cydia, the original app store for jailbroken iPhones, has joined a wave of companies and regulators in targeting Apple over antitrust concerns. In a lawsuit it filed on Thursday, it accused Apple of “anti-competitive acquisition and maintenance of an illegal monopoly over iOS app distribution.” Were that not the case, Cydia argues, users would “be Read more about Jailbreak app store Cydia files its own antitrust lawsuit against Apple[…]