[…] Months of reporting tied to lawsuits filed by Hertz renters falsely accused of theft should now come to a halt. Maybe. Here’s the company’s statement on the multi-million dollar settlement, which doesn’t say much about Hertz’s culpability, nor any plans it has in place to prevent something that has only occurred with this rental Read more about Hertz Shells Out $168 Million To Settle 364 False Theft Reports[…]
U.S. prosecutors on Wednesday said they have charged eight individuals in a securities fraud scheme, alleging they reaped about $114 million from by using Twitter and Discord to manipulate stocks. The eight men allegedly purported to be successful traders on the social media platforms and then engaged in a so-called “pump and dump” scheme by Read more about U.S. authorities charge 8 social media influencers in pump and dump plan[…]
Polestar is delivering a not-so-subtle snub to Mercedes’ subscription performance upgrade. The automaker has released an update that gives the Polestar 2’s long range dual motor variant a 68HP power boost (plus 15lb. ft. of torque) in the US and Canada for a one-time $1,195 fee. That’s far from a trivial expense, but it’s a Read more about Polestar 2 gets a 68HP power boost through a paid update, no subscription required – but you are still charged twice what you already bought[…]
After putting unique usernames on the auction on the TON blockchain, Telegram is now putting anonymous numbers up for bidding. These numbers could be used to sign up for Telegram without needing any SIM card. Just like the username auction, you can buy these virtual numbers on Fragment, which is a site specially created for Read more about Telegram is auctioning phone numbers to let users sign up to the service without any SIM[…]
It’s a lesson that apparently keeps needing to be re-learned over and over again: for far too many types of digital purchases, you simply don’t own the thing you bought. The arena for this perma-lesson are varied: movies, books, music. And, of course, video games. The earliest lesson in that space may have been when Read more about Square Enix paid mobile games To Be Completely Disappeared With Studio Shutdown[…]
Mercedes raised some worried eyebrows with its recent announcement to offer additional power for its EVs via subscription. For electric EQE and EQS models, Mercedes will bump their horsepower if customers pay an additional $1,200 per year. However, that’s going to remain a U.S. market service only for the time being, as Europe currently won’t Read more about Europe Won’t Allow Mercedes’ EV Performance Subscription Fee, For Now[…]
Kevin Mazur via Getty Images Ticketmaster’s chaotic handling of Taylor Swift’s tour ticket sales has brought the company under increased scrutiny, including from lawmakers. Sens. Amy Klobuchar (D-MN) and Mike Lee (R-UT), the chair and ranking member of the Senate Judiciary Subcommittee on Competition Policy, Antitrust and Consumer Rights, have announced a hearing to gather Read more about Ticketmaster’s Taylor Swift fiasco sparks Senate antitrust hearing[…]
Nepali workers hired to pick fruit on British farms say they have been left thousands of pounds in debt after being sent home only weeks after they arrived. The fruit pickers were recruited under the government’s seasonal worker scheme and say they were offered work for six months. But less than two months after arriving, Read more about AG Recruitment hires Seasonal workers, makes them pay a year’s salary on flights, then dumps them after 2 months leaving them hugely in debt[…]
The Federal Trade Commission issued a statement today that restores the agency’s policy of rigorously enforcing the federal ban on unfair methods of competition. Congress gave the FTC the unique authority to identify and police against these practices, beyond what the other antitrust statutes cover. But in recent years the agency has not always carried Read more about FTC Restores Rigorous Enforcement of Law Banning Unfair Methods of Competition, Might give them some teeth against mono/duopolists[…]
A new antitrust class-action lawsuit accuses Apple Inc. and Amazon.com of colluding to raise the price of iPhones and iPads, […] The lawsuit, filed in the U.S. District Court for the Western District of Washington accuses Apple and Amazon of seeking to eliminate third-party Apple resellers on Amazon Marketplace in a scheme to stifle competition, Read more about Antitrust Lawsuit Says Apple and Amazon Colluded to Raise iPhone, iPad Prices[…]
A former Apple employee has pled guilty to defrauding the company out of over $17 million. Dhirendra Prasad, who spent most of his decade at Apple working as a buyer in the Global Service Supply Chain department, admitted to “taking kickbacks, inflating invoices, stealing parts and causing Apple to pay for items and services never Read more about Former Apple employee admits to defrauding the company out of $17 million[…]
The world’s wealthiest people are responsible for about a million times more emissions than the world’s lowest earners when you take into account their investments, a new report has found. The report, issued Sunday by Oxfam, finds that the world’s 125 wealthiest people—including American billionaires Bill Gates, Jim Walton, Warren Buffett, and Elon Musk—have a Read more about Billionaires Are Funding Climate Destruction[…]
“On October 8th, PayPal updated its terms of service agreement to include a clause enabling it to withdraw $2,500 from users’ bank accounts simply for posting anything the company deems as misinformation or offensive,” reports Grit Daily. “Unsurprisingly, the backlash was instant and massive,” causing the company to backtrack on the policy and claim the Read more about Did PayPal Just Reintroduce Its $2,500 ‘Misinformation’ / ‘I disagree with you’ / ‘I find this offensive’ Fine, Hoping We Wouldn’t Notice?[…]
India’s Competition Commission has announced it will fine Google ₹1,337.76 crore (₹13,377,600,000 or $161.5 million) for abusing its dominant position in multiple markets in the Android Mobile device ecosystem and ordered the company to open the Android ecosystem to competition […] The Commission found Google was dominant in all five markets and worked to preserve Read more about India fines Google ₹1,337.76 crore ($162 million) for Android monopoly abuse[…]
Instead of a week of profits, mere days of net income for Cook €1.1 billion fine levied against Apple by French authorities has been cut by two-thirds to just €372 million ($363 million) – an even more paltry sum for the world’s first company to surpass $3 trillion in market valuation. The three-comma invoice was Read more about French appeals court slashes Apple’s paltry 1 week profit price fixing anti competition fine[…]
Binance temporarily suspended fund transfers and other transactions on Thursday night after it discovered an exploit on its Smart Chain (BSC) blockchain network. Early reports said hackers stole cryptocurrency equivalent to more than $500 million, but Binance chief executive Changpeng Zhao said that the company estimates the breach’s impact to be between $100 million and Read more about Binance forced to briefly halt transactions following $100 million blockchain hack[…]
A federal judge in Texas has ordered the company to pay Voxer, the developer of app called Walkie Talkie, nearly $175 million as an ongoing royalty. Voxer accused Meta of infringing its patents and incorporating that tech in Instagram Live and Facebook Live. In 2006, Tom Katis, the founder of Voxer, started working on a Read more about Meta ordered to pay $175 million in patent infringement case[…]
[…] In June, more than 3,300 employees across the United Kingdom began participating in a six-month experiment to test the efficacy of a four-day work week, which was organized by the nonprofit 4 Day Global. The pilot program has now reached its halfway point, and 4 Day Global is reporting overwhelmingly positive results. More specifically, Read more about The World’s Largest Four-Day Work Week Experiment Shows Success[…]
[…] Stonk bros are mad at the doc for a few different reasons, but the two big things that keep coming up are the supposed lack of input from investors on r/SuperStonk and r/WallStreetBets and because of the final line of the trailer, spoken by journalist Taylor Lorenz. The trailer ends with her seemingly poking Read more about GME retail investors Are Angry Over Netflix’s GameStop Documentary Trailer[…]
With Russia closing the gas pipelines to Europe as a catalyst and using the people of Finland as blackmail material the Finnish government is taking control of company payment structures and grabs 1% of any company that signs up to the possibility of taking a loan from the government at extortionate interest rates. It’s pretty Read more about War profiteering Finland govt nationalises 1% of energy companies[…]
Blood testing huckster and former Arrayit president Mark Schena has been convicted in a covid-19 and allergy test scheme that allegedly resulted in nearly $80 million worth of fraudulent claims. Schena, who was convicted on five separate charges, could potentially spend decades in prison, according to the Department of Justice The DOJ alleges Schena misled Read more about Pharma Startup President Convicted in Fake Covid Testing Scheme[…]
The move comes in response to growing pressure on app store operators to give developers options, as Epic Games sought in its dispute with Apple and the government of South Korea required with legislation. The EU’s Digital Markets Act also seeks to limit Big Tech’s gatekeeping powers and was designed to stop Google prioritizing its Read more about Google tests alternative payment methods in Play store, still takes 4% cut[…]
This is a follow up to the big chinese ticker scam, which became the highest by-market-crap-on-the-books crime in human history, as well as another recent ticker scam. Firstly, good job for staying away from these. MSM did try hard to call them ‘mEmE StOcKs’. MSM tried even harder to push innocent investors like you and Read more about Chinese tickers scam ($HKD and more!) for collateral already down 92%: from $.5 Trillion to $43B[…]
Hackers recently stole $190 million from cryptocurrency cross-chain token platform Nomad, and now the company says it will pay a bounty to the thieves if they return those assets. Nomad says it will pay the hackers an amount that is worth up to 10% of the stolen funds and call off its lawyers after the Read more about Cryptocurrency firm Nomad offers 10% bounty to hackers who stole $190 million[…]
At least one big bitcoin mining operation in Texas that was not actually mining much bitcoin during this season’s record-breaking heat netted millions of dollars in profits—more than they would have if they just kept on mining without any shutdowns. It’s thanks to power purchase agreements signed with the local grid, allowing them to sell Read more about Riot Blockchain Made More in Power Credits Than Mining Bitcoin[…]