Fine
New York (AFP) - Uber and Lyft will pay $328 million to settle a New York probe alleging that the companies "cheated" drivers, in an accord that also establishes paid sick leave, state officials announced Thursday. The agreement follows state investigations that concluded the companies improperly deducted sums from drivers that should have been charged to passengers, according to New York Attorney General Letitia James, whose office brought the case. "For years, Uber and Lyft systematically cheated their drivers out of hundreds of millions of dollars in pay and benefits while they worked long ...
AFP
Brussels (AFP) - The European Commission slapped a new fine of 376 million euros ($400 million) on US chipmaker Intel on Friday after an EU court annulled a previous record penalty for abusing its dominance in the computer chip market. The case is one of many protracted legal battles against tech behemoths the European Union has faced, fights which have driven Brussels to introduce tough new curbs on how digital giants do business in Europe. The EU's antitrust enforcer said Intel had engaged in "anti-competitive practices aimed at excluding competitors from the relevant market". The commission...
AFP
Washington (AFP) - The Swiss banking giant UBS has been fined close to $400 million for misconduct by its recently-acquired subsidiary, Credit Suisse, the US Federal Reserve announced on Monday. Swiss regulators pushed UBS to take over its former rival Credit Suisse earlier this year amid a banking crisis spurred by the collapse of US regional lender Silicon Valley Bank. On Monday, UBS was fined a total of $387 million by the Fed and the Bank of England over Credit Suisse's failure "to adequately manage" the risk posed by the US family investment fund Archegos, despite repeated warnings, the...
AFP
New York (AFP) - US regulators ordered Bank of America to pay $250 million in fines and restitution for unfair fees and other banking violations that harmed consumers, authorities said Tuesday. Bank of America "double-dipped" on fees on customers for holding insufficient funds, repeatedly charging them a $35 penalty for the same transaction, said the Consumer Financial Protection Bureau. The US bank also withheld promised cash and points to consumers who signed up for credit cards, the CFPB said. In a third violation listed by the agency, Bank of America employees illegally applied for and enr...
AFP
Dublin (AFP) - Facebook owner Meta has been fined a record 1.2 billion euros ($1.3 billion) for transferring EU user data to the United States in breach of a previous court ruling, Ireland's regulator announced on Monday. The Irish Data Protection Commission (DPC), which acts on behalf of the European Union, said the European Data Protection Board (EDPB) had ordered it to collect "an administrative fine in the amount of 1.2 billion euros". The DPC has been investigating Meta Ireland's transfer of personal data from the EU to the United States since 2020. It found that Meta, which has its Europ...
AFP
Paris (AFP) - France's privacy watchdog said Thursday it has fined US tech giant Microsoft 60 million euros ($64 million) for foisting advertising cookies on users. In the largest fine imposed in 2022, the National Commission for Technology and Freedoms (CNIL) said Microsoft's search engine Bing had not set up a system allowing users to refuse cookies as simply as accepting them. The French regulator said that after investigations it found that "when users visited this site, cookies were deposited on their terminal without their consent, while these cookies were used, among others, for adverti...
AFP
New York (AFP) - Large Wall Street firms agreed to pay $1.8 billion in fines over failures to keep electronic records such as text messages between employees on personal mobile phones, US authorities announced Tuesday. Barclays, Bank of America, Deutsche Bank and Goldman Sachs were among the firms that agreed to fines over "longstanding failures" to maintain and preserve electronic communications that must be available to regulators in the course of oversight, the Securities and Exchange Commission (SEC) said in a statement. The SEC announced a total of $1.1 billion in fines on 16 institutions...
AFP
New York (AFP) - US securities officials fined Boeing $200 million over the aviation giant's misleading assurances about the safety of the 737 MAX airplane following two deadly crashes, regulators announced Thursday. Boeing agreed to the penalty to settle charges it "negligently violated the antifraud provisions" of US securities laws, the Securities and Exchange Commission said in a statement, saying the company and its leader "put profits over people." Boeing's former chief executive, Dennis Muilenburg, also agreed to pay $1 million to settle the same charges in a civil case. The settlement ...
AFP
London (AFP) - Britain announced Monday it had fined US facial recognition company Clearview AI Inc more than £7.5 million ($9.4 million, 8.8 million euros) for amassing online images of people without their knowledge. The UK's data watchdog also ordered the company to stop obtaining personal data of UK residents available on the internet and to delete the data of UK residents from its systems. The action by the Information Commissioner's Office (ICO) follows a joint investigation with the Office of the Australian Information Commissioner. Clearview AI Inc has a database of more than 20 billio...
AFP
A man has been fined after walking 280 miles following an argument with his wife. The unnamed man, from Como, hiked for 40 miles a day and was hit with a £360 penalty for breaking curfew rules after police spotted him in the town of Fano. According to reports, the man was extremely fatigued and police officers didn't believe his story until they contacted his partner. The 48-year-old man confessed to the authorities that he had no idea how far he was walking and simply ventured out to clear his head. He said, according to Italian publication Il Resto del Carlino: "I got here by foot. I ate and...
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