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Found 23 results

  1. LONDON (Reuters Breakingviews) - Britain’s new Digital Markets Unit has a distinctively Silicon Valley vibe. A sweeping mandate and the ability to act with tech-like speed raises the risk it will emulate Facebook’s old “move fast and break things” mantra. Still, it’s an upgrade on the ponderous, court-based approaches usually followed by Europe and the United States. The DMU, unveiled on Friday and due to begin work in April 2021, will police dominant technology groups like Facebook and Google’s parent, Alphabet. The theory is that a nimble, dedicated regulator can fix
  2. With few exceptions, the questioning was a national embarrassment Comment This morning the Senate Commerce Committee held a hearing with the CEOs of Google, Facebook and Twitter to discuss making changes to a critical piece of US legislation that provides online platforms, used by billions of people, legal protections from the content those people post. Yes, we're talking about changes to Section 230, and it was shambolic. In fact, it was worse than shambolic; it was a national embarrassment. Senator after senator appeared on screen and made wild allegations, oft
  3. A report published Monday by the Australian Strategic Policy Institute claims that a large number of global companies are benefiting from the forced labor of Uyghurs and other minorities. A total of 83 companies are listed in the report, and some of those names are Microsoft Corp., Apple Inc., Amazon.com Inc., Google LLC, Huawei Technologies Co. Ltd., Samsung Electronics Co. Ltd. and Sony Corp. The report states that about 80,000 Uyghurs and a number of other ethnic minorities have been moved from the Xinjiang region in China and sent to work in factories that suggest “force
  4. Lawmakers continue to amp up the pressure on tech companies. Lawmakers on Capitol Hill sent letters to Facebook, Amazon, Google and Apple on Friday requesting a trove of documents and other information as part of an antitrust investigation into online markets. Leaders of the House Judiciary Committee sent detailed requests asking for general information on the companies and their competitors in online commerce and content, as well as executive communications related to acquisitions and other competition matters. The companies were also asked to turn over any docu
  5. Of the five biggest tech companies in the U.S., Microsoft is the only one that isn't currently in the crosshairs of U.S. antitrust authorities. The software giant already took its turn through the regulatory wringer starting two decades ago, a years-long confrontation that resulted in the finding that the Redmond, Washington-based company had illegally maintained its monopoly for personal-computer operating-system software. The case dealt with the company's moves to kneecap the Netscape web browser by bundling its own product, Internet Explorer, into Windows, th
  6. It’s separate from the Google and Apple investigations that were announced earlier After months of heightened tech scrutiny from both Republicans and Democrats, the Justice Department is opening a new antitrust investigation into large tech firms like Facebook, Amazon, and Google. “Without the discipline of meaningful market-based competition, digital platforms may act in ways that are not responsive to consumer demands,” said Assistant Attorney General Makan Delrahim of the Antitrust Division. “The Department’s antitrust review will explore these important
  7. The chair of the Federal Trade Commission, Chairman Joe Simons, acknowledged in an interview on Tuesday that perhaps maybe, just maybe, one outcome of an FTC task force inquiry into whether tech giants violated anticompetition laws could be forcing them to break up into smaller companies, according to reports in Reuters and Bloomberg. The likes of Facebook probably aren’t quaking in their bootsies yet. Simons—who perhaps has his hands tied by the ongoing status of his agency’s broad review of the tech sector, but whose agency was accused of coddling Facebook in a recen
  8. FUKUOKA, Japan (Reuters) - Group of 20 finance ministers agreed on Sunday to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a final version of the bloc’s communique obtained by Reuters showed. Facebook, Google, Amazon, and other large technology firms face criticism for cutting their tax bills by booking profits in low-tax countries regardless of the location of the end customer. Such practices are seen by many as unfair. The new rules would mean higher tax burdens for large multi
  9. FUKUOKA, Japan (Reuters) - Group of 20 finance ministers agreed on Saturday to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a copy of the bloc’s draft communique obtained by Reuters showed. Facebook, Google, Amazon, and other large technology firms face criticism for cutting their tax bills by booking profits in low-tax countries regardless of the location of the end customer. Such practices are seen by many as unfair. The new rules would mean higher tax burdens for large multinational
  10. These daily price charts show the possible support and resistance levels for key, widely followed, heavily-mentioned in the business media "FANG" stocks: Facebook, Amazon, Netflix and Google. Let's start with Mark Zuckerberg's publicly traded business: Facebook daily price chart You can see that once Facebook peaked at just above 215 back in July, the stock has steadily and relentlessly tanked. It took out that previous 149 support level (from March), attempted a small bounce and then continued to the recent deeper low down near 130. That J
  11. EU lawmakers are drawing up a "hit list" of Big Tech companies to target with new regulation, sources told the Financial Times. The list will have up to 20 companies on it, and is likely to include big players such as Facebook and Apple, the sources said. The EU is set to publish proposals for new technology laws in December. Left to right: Amazon CEO Jeff Bezos, Apple CEO Tim Cook, Facebook CEO Mark Zuckerberg, and Google CEO Sundar Pichai. EU lawmakers are writing a "hit list" of Big Tech companies to target with tougher regulation, sources familiar wi
  12. Google makes billions from its cloud platform. Now it’s using those billions to buy up the internet itself — or at least the submarine cables that make up the internet backbone. Above: An operator works during the mooring of an undersea fiber optic cable near the Spanish Basque village of Sopelana on June 13, 2017. In February, the company announced its intention to move forward with the development of the Curie cable, a new undersea line stretching from California to Chile. It will be the first private intercontinental cable ever built by a major non-telec
  13. A meeting of the country’s top federal and state law enforcement officials on Tuesday could presage a series of sweeping new investigations of Apple, Amazon, Facebook, Google and their tech industry peers, stemming from lingering frustrations that these companies are too big, fail to safeguard users' private data and don’t cooperate with legal demands. Attorney General Jeff Sessions met with the attorneys general of several states to discuss complaints against social media companies. A meeting of the country’s top federal and state law enforcement officials
  14. WASHINGTON (Reuters) - A senior Democratic U.S. senator on Thursday unveiled draft legislation that would allow hefty fines and as much as 20-year prison terms for executives who violate privacy and cybersecurity standards. Senator Ron Wyden released a draft of legislation that would grant the Federal Trade Commission authority to write privacy regulations. The measure would also allow maximum fines of 4 percent of revenue - matching European rules adopted earlier this year. “It’s time for some sunshine on this shadowy network of information sharing,” Wyden
  15. The technology sector has a hazardous materials problem, beyond the mountains of electronic waste it generates. More immediately, Big Tech fails to warn users when its products and services are hazardous. Users are long overdue for a clear, concise rating system of privacy and security risks. Fortunately, tech can learn from another industry that knows how to alert consumers about the dangers of improperly storing and leaking toxic products: the chemical industry. Nearly sixty year ago, the chemical industry and its regulators realized that simple communication o
  16. If you ask Sen. Ron Wyden, there’s only one thing that will stop executives at Facebook and other tech giants from violating their users’ privacy: the taste of prison chow. Multi-billion dollar fines, after all, don’t seem much of a deterrent. After Facebook was hit with a $5 billion fine earlier this year, its shareholders’ net worth actually increased. There’s little sense the penalty made any difference at all. As one lawmaker reportedly put it upon hearing the figure, $5 billion, to Facebook, is nothing more than a “mosquito bite.” A constant privacy ha
  17. Google announced “quantum supremacy” last week, a technological achievement that has huge repercussions, not only for the company and its role in the world but for all of us individuals who want to maintain a semblance of the right to privacy. Google researchers have developed a computer called Sycamore, which is exponentially more powerful in its processing power than a “standard” supercomputer. The workings behind Sycamore are what make it such a breakthrough, since it uses an algorithm that would take 10,000 years to give a similar output on a classical computer but
  18. He argues that it just creates more companies that behave badly. Bill Gates is unsurprisingly very familiar with antitrust regulations of large tech companies, so how does he feel about the US government's ongoing competition review? He's not a fan -- though not necessarily for the reasons you might think. The former Microsoft CEO told Bloomberg in an interview that it was better to correct the specific practices than to break the companies up. If you split them, you now have two companies "doing the bad thing," he said. He wasn't completely averse to
  19. LONDON (Reuters) - Google, Alibaba and other “Big Tech” companies could be forced to share data on financial services customers with banks and financial technology firms to prevent unfair competition. As Facebook’s plan for its Libra “stablecoin” faces scrutiny, a global body of regulators from the world’s main financial centers said that Big Tech’s growing tentacles raised questions for financial stability, competition and data privacy. The Financial Stability Board (FSB) called in a report released on Sunday for “vigilant monitoring” of Big Tech’s shift into fi
  20. BOULDER, Colo (Reuters) - In April 2019, Tile.com, which helps users find lost or misplaced items, suddenly found itself competing with Apple Inc, after years of enjoying a mutually beneficial relationship with the iPhone maker. Apple carried Tile on its app store and sold its products at its stores since 2015. It even showcased Tile’s technology at its biggest annual event in 2018 and the startup sent an engineer to Apple’s headquarters to develop a feature with the company’s voice assistant Siri. Early the following year, Tile’s executives read news repo
  21. Today’s tech startups have largely stayed out of the debate over whether antitrust law should be used to humble — and possibly break up — giants like Facebook, Google and Amazon. Today’s tech startups have largely stayed out of the debate over whether antitrust law should be used to humble — and possibly break up — giants like Facebook, Google and Amazon. Why it matters: Startups are often in position to lead the antitrust charge against major competitors. But entrepreneurs face a dilemma: If they go running to regulators, they have to admit they’re in
  22. The Markup, dedicated to investigating technology and its effect on society, will be led by two former ProPublica journalists. Craig Newmark gave $20 million to help fund the operation. A $20 million gift from the Craigslist founder Craig Newmark is helping to underwrite The Markup, a news site dedicated to investigating technology and its effect on society When the investigative journalist Julia Angwin worked for ProPublica, the nonprofit news organization became known as “big tech’s scariest watchdog.” By partnering with programmers and data sc
  23. The Illinois Keep Internet Devices Safe Act would have empowered average people to sue big companies for recording them without consent, but industry association lobbying defanged it. An Illinois bill that sought to empower average people to file lawsuits against tech companies for recording them without their knowledge via microphone-enabled devices was defanged this week after lobbying from trade associations representing Silicon Valley giants. On Wednesday, the Illinois State Senate passed the Keep Internet Devices Safe Act, a bill that would ban manufac
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