In the world of business, “audit readiness” is not just another buzzword—it’s a critical aspect of maintaining financial integrity and ensuring smooth operations. Whether you’re a seasoned entrepreneur or a small business owner, understanding what audit readiness entails can make the difference between success and financial turmoil. In this article, we’ll delve into the ins Read more about Essential Tips for Achieving Audit Readiness[…]
The FTC – and 17 state attorneys general – have come out swinging at Amazon with a lawsuit accusing the ecommerce giant of being a monopolist. Amazon, the FTC alleges, engages in anticompetitive conduct in two markets: online ecommerce and also the market for marketplace services used by sellers. The tactics used by Amazon to Read more about FTC and 17 states finally go after Amazon monopoly in new antitrust lawsuit[…]
The European Commission has imposed a €376.36 million ($400 million) fine on Intel for blocking the sales of devices powered by its competitors’ x86 CPUs. This brings one part of the company’s long-running antitrust court battle with the European authority to a close. If you’ll recall, the Commission slapped the chipmaker with a record-breaking €1.06 Read more about EU reinstates $400 million fine on Intel for blocking sales of competing chips[…]
Amazon has always handled its streaming video slate a little differently than the competition. Other companies have slyly introduced a cheaper ad-free option while slowly raising prices on non-ad-based subscription tiers, Prime Video is taking a different tack. The streaming service plans to hold ad-free watching hostage, and it’s demanding a $3 ransom starting early Read more about Amazon Will Stick Ads on Prime Video Unless You Pay Up MOAR – wasn’t the model to pay to not have ads in the first place?[…]
Alphabet’s Google pays more than $10 billion a year to maintain its position as the default search engine on web browsers and mobile devices, stifling competition, the US Justice Department said Tuesday at the start of a high-stakes antitrust trial in Washington. From a report: “This case is about the future of the internet and Read more about Google Pays $10 Billion a Year To Maintain Monopoly, US Says[…]
Last year, BMW underwent media and customer hellfire over its decision to offer a monthly subscription for heated seats. While seat heating wasn’t the only option available for subscription, it was the one that seemed to infuriate everyone the most, since it concerned hardware already present in the car from the factory. After months of Read more about BMW Ends Heated Seat Subscriptions Because People Hated It[…]
The Act (DSA) sets rules that the EU designed to make very large online platforms (VLOPs) “tackle the spread of illegal content, online disinformation and other societal risks” presented by online service providers.” The DSA and the Digital Market Act (DMA) are a double act. Both were introduced in 2022 and will be implemented in Read more about Europe’s new DSA and DMA rules for Big Tech in force[…]
The same federal agency that once helped bring down the biggest crypto-based dark web drug marketplace Silk Road got swindled by one of the oldest tricks in the crypto scammer playbook. The U.S. Drug Enforcement Administration reportedly handed a fraudster a little more than $55,000 in confiscated crypto funds after it was duped by a Read more about DEA Falls for Crypto Airdrop Scam, Hands Fraudster $55,000 in Stolen Funds[…]
A buzzy startup offering financial infrastructure to crypto companies has found itself bankrupt primarily because it can’t gain access to a physical crypto wallet with $38.9 million in it. The company also did not write down recovery phrases, locking itself out of the wallet forever in something it has called “The Wallet Event” to a Read more about Crypto Infra Startup Bankrupt After Losing Password to $38.9 Million Physical Crypto Wallet[…]
A Wednesday statement from the Commission brought news that in late July it wrote to Google to inform it of the ₩42.1 billion ($31.5 million) fine announced, and reported by The Register, in April 2023. The Commission has also commenced monitoring activities to ensure that Google complies with requirements to allow competition with its Play Read more about South Korea ‘puts the brakes’ on Google app store dominance[…]
HP has failed to shunt aside class-action legal claims that it disables the scanners on its multifunction printers when their ink runs low. Though not for lack of trying. On Aug. 10, a federal judge ruled that HP Inc. must face a class-action lawsuit claiming that the company designs its “all-in-one” inkjet printers to disable Read more about HP in class action for bricking scanners and print functions when ink runs low, using less than 50% of ink for actual printing[…]
Third-party merchants on Amazon who ship their own packages will see an additional fee for each product sold starting on Oct. 1st. Sellers could previously choose to ship their products without contributing to Amazon, but the new fee means members of Amazon’s Seller Fulfilled Prime program will be required to pay the company 2% on each Read more about Amazon Now Punishes Merchants Who Ship Their Own Products – flexing monopoly![…]
Tesla has added a new Standard Range trim for both its aging Model S and Model X luxury cars this week, effectively slashing the barrier to entry for the automaker’s flagship sedan and SUV by a staggering $10,000 each. The Model S SR now comes in at $78,490, and the Model X SR at $88,490—both Read more about Tesla’s New Range-Limited Model S, X Can Go Further, but are software locked[…]
Ilya Lichtenstein and Heather Morgan on Thursday pleaded guilty to money-laundering charges related to the 2016 theft of some 120,000 Bitcoins from Hong Kong-based Bitfinex. The Feds arrested Lichtenstein, 35, and Morgan, 33, in February 2022 following the US government’s tracing of about 95,000 of the stolen BTC – worth about $3.6 billion at the Read more about Couple admit laundering $4B of stolen Bitfinex Bitcoins[…]
Royal Mail’s stamps are finally entering the digital world, with printed codes that can be used to track letters or linked to videos. Collectors, traditionalists and royalists are not amused […] In February, Royal Mail introduced a new design for its standard stamps, which have changed so little since the launch of the Penny Black Read more about ‘Eventually it will just be a barcode, won’t it?’ Why Britain’s new stamps are causing outrage and upset[…]
Mercedes-Benz has new finalized pricing on its vexing “Acceleration Increase” subscription revealed last year that can eke out more electric performance — without any physical modification — from the automaker’s current EQE and EQS EV models, Car and Driver reports. The updated Acceleration Increase pricing starts at $60 per month, or you can save about Read more about Mercedes: Pay us again to unlock full accellaration on EQS and EQE – yes you already own the hardware.[…]
Elon Musk, Larry Ellison and other current and former members of Tesla’s board of directors will return $735 million to settle claims that they massively overpaid themselves, Reuters has reported. The deal wraps up a saga that started in 2020 stemming from a lawsuit filed by a police and firefighter retirement fund challenging stock options Read more about Tesla directors agree to return $735 million following claims they were massively overpaid[…]
Spain’s antitrust watchdog on Tuesday said it had imposed fines worth a total 194.1 million euros ($218.03 million) on Amazon (AMZN.O) and Apple (AAPL.O) for colluding to limit the online sale of devices from Apple and competitors in Spain. The two contracts the companies signed on Oct. 31, 2018 granting Amazon the status of authorized Read more about Spain antitrust watchdog fines Amazon, Apple $218 million for collusion and exclusion[…]
The United Kingdom’s deal to buy three, rather than the previously planned five Boeing E-7A Wedgetail airborne early warning and control (AEW&C) aircraft for the Royal Air Force “represents extremely poor value for money” and “an absolute folly.” Those are among the conclusions of a report published today by the U.K. Defense Committee, a body Read more about UK buys 3 radar E-7 planes for 90% of the price of original 5, creating huge capability gap, shows how broken procurement is[…]
Tens of thousands of fraudsters splurged on Lamborghinis, vacation homes, private jet flights and Cartier jewelry by fleecing the PPP loan system in a $200 billion heist — and did it because the COVID loan scheme was so easy to milk. Approximately $1.2 trillion was rushed through Congress in 2020 and 2021 in COVID bailout cash Read more about PPP fraud is ‘worst in history’: $200B stolen, splurged on Lamborghinis and bling[…]
As the Commission explained in a Tuesday adjudicaiton, Broadcom and Samsung were in talks for a long-term supply agreement when the American chipmaker demanded the Korean giant sign or it would suspend shipments and support services. Broadcom share price pops on VMware rumors Broadcom’s share price jumped from $805 to $860 on Tuesday, after Reuters Read more about Broadcom squeezed Samsung, now South Korea’s squeezing back[…]
Millions of people get phone calls from scammers and wonder who is at the other end. Now we know: rather than someone in a call centre far away, a “bright young man” living in a lush flat in London has been unmasked as the mastermind behind so many of these calls. Tejay Fletcher’s trial exposed Read more about How a 35-year-old weed smoker behind 10 million scam calls made his fortune[…]
YouTube has begun showing a pop-up to some viewers warning them that “ad blockers are not allowed” on the video-sharing site. The banner, which you can see below, appears if the Google subsidiary reckons you’re using some kind of content blocker that prevents videos from being interrupted by or book-ended with adverts. According to YouTube, Read more about YouTube begins warning: ‘Ad blockers are not allowed’[…]
Apple Inc. won an appeals court ruling upholding its App Store’s policies in an antitrust challenge brought by Epic Games Inc. Monday’s ruling by the US Ninth Circuit Court of Appeals affirmed a lower-court judge’s 2021 decision largely rejecting claims by Epic, the maker of Fortnite, that Apple’s online marketplace policies violated federal law because Read more about Apple App Store Policies Upheld by Court in Epic Games Antitrust Challenge – Apple can continue monopoly and massive 30% charges in app store USA (but not in EU)[…]
Samsung Electronics has been stung for more than $303 million in a patent infringement case brought by US memory company Netlist. Netlist, headquartered in Irvine, California, styles itself as a provider of high-performance modular memory subsystems. The company initially filed a complaint that Samsung had infringed on three of its patents, later amended to six Read more about Samsung to pay out $303M for memory patent infringement to Netlist.[…]