regulate
Washington (AFP) - US regulators on Wednesday filed insider trading charges against five people, including three former Netflix employees, accusing them of illegally using confidential data on subscriber growth at the streaming television giant. The Securities and Exchange Commission said the group generated $3 million in total profits by trading on the insider information from three former Netflix software engineers. "We allege that a Netflix employee and his close associates engaged in a long-running, multimillion dollar scheme to profit from valuable, misappropriated company information," s...
AFP
Washington (AFP) - Pressure is rising on Big Tech firms, signaling tougher regulation in Washington and elsewhere that could lead to the breakup of the largest platforms. But you'd hardly know by looking at their share prices. Shares in Apple, Facebook, Amazon and Google parent Alphabet have hovered near record highs in recent weeks, lifted by pandemic-fueled surges in sales and profits that have helped the big firms extend their dominance of key economic sectors. The Biden administration has given signs of more aggressive regulation with appointments of Big Tech critics at the Federal Trade C...
AFP
Washington (AFP) - Amazon has agreed to pay $61.7 million to settle charges it withheld tips from its independent delivery drivers over two and a half years, US officials said Tuesday. The US Federal Trade Commission said the agreement settles a complaint that Amazon failed to give the full tip amounts to drivers in its Amazon Flex program. "Rather than passing along 100 percent of customers' tips to drivers, as it had promised to do, Amazon used the money itself," said Daniel Kaufman, acting director of the FTC's Bureau of Consumer Protection. "Our action today returns to drivers the tens of ...
AFP
San Francisco (AFP) - Apple has agreed to pay $113 million to settle litigation with more than 30 US states over its slowdown in performance of older iPhones to manage battery power.The latest "batterygate" settlement will divide the settlement among California and 33 other states, according to a statement by state Attorney General Xavier Becerra.The settlement resolves complaints that the tech giant made misrepresentations about iPhone batteries and software updates that throttled processing performance to manage insufficient battery power, according to the state official."Apple withheld in...
AFP
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