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[…]

FLoC, The Ad-Targeting Tech Google Plans To Drop On Us All might be using you as a test subject to spy on closely in Chrome

About two weeks ago, millions of Google Chrome users were signed up for an experiment they never agreed to be a part of. Google had just launched a test run for Federated Learning of Cohorts—or FLoC–a new kind of ad-targeting tech meant to be less invasive than the average cookie. In a blog post announcing Read more about FLoC, The Ad-Targeting Tech Google Plans To Drop On Us All might be using you as a test subject to spy on closely in Chrome[…]

Actor in Hollywood Ponzi Scheme “sold” Netflix exculsives for $690 million

Zachary Horwitz never made it big on the Sunset Strip — there was the uncredited part in Brad Pitt’s “Fury” and a host of roles in low-budget thrillers and horror flicks. But federal charges suggest he had acting talent, duping several financial firms out of hundreds of millions of dollars and enabling him to live Read more about Actor in Hollywood Ponzi Scheme “sold” Netflix exculsives for $690 million[…]

Alibaba antitrust investigation: Beijing slaps e-commerce giant Alibaba with record US$2.8 billion fine in landmark case. US antitrust still going nowhere.

China’s antitrust regulators slapped a record fine on one of the country’s largest technology conglomerates, closing a months-long investigation that began last Christmas Eve and setting the precedent for the government to use anti-monopoly rules to regulate the country’s Big Tech. Alibaba Group Holding, the world’s largest e-commerce company and owner of this newspaper, was Read more about Alibaba antitrust investigation: Beijing slaps e-commerce giant Alibaba with record US$2.8 billion fine in landmark case. US antitrust still going nowhere.[…]

Signal Adds a New Privacy-Focused Signal Payments Feature. Some people think this is a sellout.

Signal announced on Tuesday that as a part of its latest beta, it’s adding support for a new Signal Payments feature that allows Signal users to send “privacy focused payments as easily as sending or receiving a message.” These payments are only going to be available to Android and iOS Signal users in the UK Read more about Signal Adds a New Privacy-Focused Signal Payments Feature. Some people think this is a sellout.[…]

How Bill Hwang of Archegos Capital Lost $20 Billion in Two Days

Before he lost it all—all $20 billion—Bill Hwang was the greatest trader you’d never heard of. Starting in 2013, he parlayed more than $200 million left over from his shuttered hedge fund into a mind-boggling fortune by betting on stocks. Had he folded his hand in early March and cashed in, Hwang, 57, would have Read more about How Bill Hwang of Archegos Capital Lost $20 Billion in Two Days[…]

Tesla customers say they’ve been double-charged for their cars

Finding an extra $10 charge on your groceries is enough to make most people angry, but what if you paid twice for a a $56,000 car? Tesla buyers have been reporting that they’ve been double-charged on cars for recent purchases and have had trouble contacting the company and getting their money back, according to a Read more about Tesla customers say they’ve been double-charged for their cars[…]

Trustify CEO gets eight years for lying to investors, spending millions on homes, private jets, sports tickets

A tech CEO who lied to investors to get funding and then blew millions of it on maintaining a luxury lifestyle, which included private jets and top seats at sporting events, has been sentenced to just over eight years in prison. Daniel Boice, 41, set up what he claimed would be the “Uber of private Read more about Trustify CEO gets eight years for lying to investors, spending millions on homes, private jets, sports tickets[…]

Google halves Android app fee to 15% for lower-earning devs > $1m as monopolist hunters close in

Google will reduce the service fee it charges Android developers from 30 per cent to 15 per cent, though only on the first $1m in Google Play revenue. […] Google’s change of heart follows a similarly structured fee abatement by Apple last year and lawsuits filed recently in the US, the UK, and Australia by Read more about Google halves Android app fee to 15% for lower-earning devs > $1m as monopolist hunters close in[…]

Following Supreme Court ruling, Uber UK recognizes drivers as workers, offers min wage, holiday pay, pension

After years of aggressively fighting any efforts to force it to recognize its drivers as employees, on Tuesday Uber performed a U-turn on the streets of Britain and recognized all of its drivers as working for the company rather than serving as freelancers. The change is the result of a court ruling last month that Read more about Following Supreme Court ruling, Uber UK recognizes drivers as workers, offers min wage, holiday pay, pension[…]