Profiteering has played a significant role in boosting inflation during 2022, according to a report that calls for a global corporation tax to curb excess profits. Analysis of the financial accounts of many of the UK’s biggest businesses found that profits far outpaced increases in costs, helping to push up inflation last year to levels Read more about Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows[…]

Sam Altman reportedly has no equity in OpenAI, a strange move for a tech founder, but new reporting from Wired this weekend shows the CEO would profit from an OpenAI deal to buy AI chips. OpenAI signed a previously unknown deal back in 2019 to spend $51 million on advanced chips from a startup Sam Read more about Sam Altman May Have Found a Loophole to Cash in at OpenAI – buying his products from another company[…]

[…] Tech vendors – software, hardware, and cloud services – generally avoid terms that suggest they’re perhaps in some way pinning down customers in a strategic sales hold. But as Marie Myers, chief financial officer at HP, was this week talking to the UBS Global Technology conference, in front of investors, the thrust of the Read more about HP’s CFO tells world: we are locking in customers for more profit[…]

From January 1, 2023, a seller may no longer increase the price of a product for a short period of time, then reduce the price and then present this ‘before’ price as an offer or a significant discount. Despite this tightening, consumers are still faced with misleading discounts, especially in the run-up to the holidays. Read more about The Netherlands wants EU measures against misleading “discounts” on altered prices[…]

Google pays Apple 36% of its search advertising revenue from Safari, according to new details brought to light in Google’s search antitrust trial on Monday as reported by Bloomberg. The mere utterance of the number, which Google and Apple have tried to keep sealed, caused Google’s main litigator John Schmidtlein to visibly cringe. “Like the Read more about Google Witness Spills on Apple’s Cut From Safari Search Revenue[…]

Amazon and Meta have agreed to not use data collected from their marketplaces to unfairly benefit themselves, the UK’s Competition and Markets Authority announced on Friday. The monopoly watchdog launched separate investigations into both internet giants’ business practices, and accused the Big Tech duo of not only gathering up information about sellers using their respective Read more about Amazon and Meta to stop using rivals marketplace data to undercut their products.[…]

Over the summer, BMW finally backed down on its heated seat subscription program from sheer public outrage and bad press. This response apparently hasn’t deterred its rival Audi, however, as the German car company plans to make more new software features paid options on its next generation of vehicles. Pioneered on the E-Tron and E-Tron Read more about Audi Will Make You Pay A Subscription For More Features You Already Bought Starting Next Year[…]

Google CEO Sundar Pichai upheld the company’s decision to pay out billions of dollars to remain the top global search engine at the U.S. anti-trust trial on Monday, according to a report from The Wall Street Journal. Pichai claimed he tried to give users a “seamless and easy” experience, even if it meant paying Apple Read more about Google CEO Defends Paying $26b in 2021 to Remain Top Search Engine[…]

Travel website Booking.com has left many hotel operators and other partners across the globe thousands of dollars out of pocket for months on end, blaming the lack of payment on a “technical issue”. The issue is widespread in Thailand, Indonesia and Europe among hoteliers who are venting their frustrations in Facebook groups as rumours swirl Read more about Booking.com not passing on payments to hotels for months on end[…]

In the world of business, “audit readiness” is not just another buzzword—it’s a critical aspect of maintaining financial integrity and ensuring smooth operations. Whether you’re a seasoned entrepreneur or a small business owner, understanding what audit readiness entails can make the difference between success and financial turmoil. In this article, we’ll delve into the ins Read more about Essential Tips for Achieving Audit Readiness[…]

Amazon has always handled its streaming video slate a little differently than the competition. Other companies have slyly introduced a cheaper ad-free option while slowly raising prices on non-ad-based subscription tiers, Prime Video is taking a different tack. The streaming service plans to hold ad-free watching hostage, and it’s demanding a $3 ransom starting early Read more about Amazon Will Stick Ads on Prime Video Unless You Pay Up MOAR – wasn’t the model to pay to not have ads in the first place?[…]