A spat erupted Tuesday between Jeff Bezos and Elon Musk as the tech titans’ space firms exchanged barbs over their rival satellite internet projects being evaluated by regulators. Source: https://phys.org/news/2021-01-barbs-satellite-musk-bezos.html…
Tag: regulators
US Treasury Nominee Yellen Wants to Encourage Cryptocurrencies — ‘For Legitimate Activities’
Business Insider reports: The bitcoin price was set for its biggest one-week fall since September on Saturday morning, having slipped around 10% since Monday… Bitcoin came under selling pressure this week after Janet Yellen, Joe Biden’s pick for Treasury secretary, suggested the use of cryptocurrencies should be “curtailed” because they were used mainly for “illicit financing”. Writing at Nasdaq.com on Thursday,…
Google Closes the Fitbit Acquisition, Pledges To Not Use Data For Ads
An anonymous reader quotes a report from Ars Technica: Today Google’s senior VP of Hardware, Rick Osterloh, announced Google has closed its acquisition of Fitbit. The $2.1 billion deal was announced back in November 2019, which kicked off a regulatory review process from governments around the world concerned about Google’s influence over the Internet and the data it can collect on…
Plaid Pulled Plug on Visa Deal Over Price, Not Antitrust Concerns
Visa will no longer be buying fintech upstart Plaid, as the companies on Tuesday announced the “mutual termination” of the $5.3 billion agreement that was signed one year ago and opposed by U.S. antitrust regulators. From a report: This is more about the rising value of fintech companies than it is about the U.S. Justice Department. It also turns Plaid into…
China Gives US Tech the Silent Treatment
Patience may be a virtue. For U.S. tech companies looking to do deals that involve China, it is also an expensive necessity. From a report: Cisco Systems and Applied Materials each received different lessons on that score last week. On Friday, Cisco found its $2.6 billion deal to buy Acacia Communications in serious jeopardy after Acaia announced it was terminating the…
Google Ad Changes Face UK Probe in First Shot at Big Tech
Google is the U.K.’s first big post-Brexit antitrust target as regulators opened a probe into the company’s planned changes to curb publishers’ collection of advertising data. From a report: The Competition and Markets Authority said it’s investigating Google’s so-called privacy sandbox changes that could “undermine the ability of publishers to generate revenue and undermine competition in digital advertising, entrenching Google’s market…
NYSE Abruptly Reverses Plan To Delist Three Chinese Telecoms
The New York Stock Exchange has abruptly reversed plans to delist three major Chinese telecommunications companies after consulting regulators about an investment ban ordered by President Donald Trump. From a report: Coming days before the companies were to be delisted — and just over two weeks before Trump is to leave the White House — the U-turn avoids a step that…
Jack Ma’s Disappearing Act Fuels Speculation About Billionaire’s Whereabouts
Alibaba founder Jack Ma’s absence from public view in the past two months, including missing the final episode of a TV show on which he was to appear as a judge, has fueled social media speculation over his whereabouts amid a Chinese regulatory clampdown on his sprawling business empire. From a report: China’s highest-profile entrepreneur has not appeared in a public…
Lawsuits Filed Against Lyft Alleging Sexual Assaults By Drivers
Slashdot reader Charlotte Web quotes SiliconValley.com: Bay Area ride-hailing giant Lyft is accused in a series of new lawsuits of failing to protect female passengers from rape by drivers. One plaintiff claims she was 15 when her driver raped her and then forced her to take an anti-pregnancy pill. The December legal actions are part of a “mass tort” lawsuit initiated…
‘Companies Are Fleeing California. Blame Bad Government.’
Bloomberg Editorial Board: Amid raging wildfires, rolling blackouts and a worsening coronavirus outbreak, it has not been a great year for California. Unfortunately, the state is also reeling from a manmade disaster: an exodus of thriving companies to other states. In just the past few months, Hewlett Packard Enterprise said it was leaving for Houston. Oracle said it would decamp for…