Interest rates have been negative in Europe for years. But it took the flood of savings unleashed in the pandemic for banks finally to charge depositors in earnest. From a report: Germany’s biggest lenders, Deutsche Bank and Commerzbank, have told new customers since last year to pay a 0.5% annual rate to keep large sums of money with them. The banks…
Tag: fees
Does Private Equity Investment in Healthcare Benefit Patients? Evidence from Nursing Homes
The summary of a study by National Bureau of Economic Research: The past two decades have seen a rapid increase in Private Equity (PE) investment in healthcare, a sector in which intensive government subsidy and market frictions could lead high-powered for-profit incentives to be misaligned with the social goal of affordable, quality care. This paper studies [PDF] the effects of PE…
New York Sues To Shut Down ‘Fraudulent’ Coinseed Crypto Platform
New York’s attorney general filed a lawsuit on Wednesday to shut down the cryptocurrency platform Coinseed for allegedly defrauding thousands of investors, including by charging hidden trading fees and selling “worthless” digital tokens. From a report: Attorney General Letitia James said Coinseed traded cryptocurrencies such as bitcoin without registering as a broker-dealer, and sold “CSD” tokens without authorization to raise money…
Apple Wins Victory as North Dakota Votes Down Bill That Would Regulate App Stores
The North Dakota state senate voted 36-11 on Tuesday not to pass a bill that would have required app stores to enable software developers to use their own payment processing software and avoid fees charged by Apple and Google. From a report: The vote is a victory for Apple, which says that the App Store is a core part of its…
Miami City Council Agrees to At Least Study Mayor’s Bitcoin Proposal
Miami’s mayor Francis Suarez is trying to attract tech talent to his city. (The New York Times recently noted he’s joined by “a few venture capital influencers trying to tweet the city’s startup world into existence.”) So he’s still pushing a proposal to use bitcoin in a few city operations as “part of a larger play if you will to position…
Apple Privacy Chief: North Dakota Bill ‘Threatens To Destroy the iPhone As You Know It’
The North Dakota Senate recently introduced a new bill that would prevent Apple and Google from requiring developers to use their respective app stores and payment methods, paving the way for alternative app store options. In response, Apple Chief Privacy Engineer Erik Neuenschwander said that it “threatens to destroy the iPhone as you know it” by requiring changes that would “undermine…
SoundCloud To Let Fans Pay Artists Directly
According to Billboard, SoundCloud is preparing to introduce a new payment system that would allow fans to pay artists directly. From the report: The move would make SoundCloud the first major music streaming service to embrace a direct payment model, a strategy that has been popular with Chinese streaming services like Tencent Music’s QQ Music for years, and one that subscription…
Twitter’s Decentralized Social Network Project Takes a Baby Step Forward
Bluesky, Twitter’s decentralized social networking effort, has announced its first major update since 2019. The Verge reports: The Bluesky team released a review of the decentralized web ecosystem and said it’s hoping to find a team lead in the coming months. The review follows Twitter CEO Jack Dorsey discussing Bluesky earlier this month, when he called it a “standard for the…
Amazon, Walmart Are Telling Some Consumers to Skip Returns of Unwanted Items
Amazon, Walmart, and other companies are using artificial intelligence “to decide whether it makes economic sense to process a return,” reports the Wall Street Journal: For inexpensive items or large ones that would incur hefty shipping fees, it is often cheaper to refund the purchase price and let customers keep the products. The relatively new approach, popularized by Amazon and a…
Rediscovering RISC-V: Apple M1 Sparks Renewed Interest in Non-x86 Architecture
“With the runaway success of the new ARM-based M1 Macs, non-x86 architectures are getting their closeup,” explains a new article at ZDNet. “RISC-V is getting the most attention from system designers looking to horn-in on Apple’s recipe for high performance. Here’s why…” RISC-V is, like x86 and ARM, an instruction set architecture (ISA). Unlike x86 and ARM, it is a free…