Paving the way for EU regulators to rule next year on these issues and potentially impose hefty fines, Google had formally rejected European Union antitrust charges of unfairly promoting its shopping service and blocking rivals in online search advertising. It was six years ago that an investigation was prompted by complaints from rivals such as…
A federal appeals court said that soon after underwriting its May 2012 initial public offering, Goldman Sachs Group Inc, JPMorgan Chase & Co and Morgan Stanley need not forfeit their estimated $100 million of profit from trading Facebook Inc stock. This brought some relief to the U.S. banks. A claim that “lock-up” agreements forbade the…
Google has slammed the European Commission for its misleading findings, saying it is barking up the wrong tree. As far as online shopping is concerned, it just another site, unlike Amazon, the world’s largest retailer. Earlier this year in April, the European Commission had started an antitrust inquiry into Google’s Android development. It soon broadened its…
FIFA was billed for 2.2 million Swiss francs ($2.2 million) in hourly fees for 2014 and 2015 by the independent investigator probing scandals at the soccer’s governing body, said media reports quoting people familiar with the matter. Cornel Borbely has headed the investigatory chamber of its ethics committee since 2014 and FIFA has never disclosed…
Due to Britain leaving the European Union, according to a report from a pro-Brexit lobby group, the U.K.’s biggest banks and financial firms could gain an additional 12 billion pounds ($14.6 billion) a year in revenue. The Leave Means Leave campaign said in the report published recently that Britain could be helped in cutting “stifling…
Microsoft will issue a patch on November 8. Microsoft Corp has said a hacking group which has been previously linked to the Russian government is behind the recent cyberattacks. Recent hacking attacks have exploited newly discovered vulnerabilities founding in Windows. In an advisory on its website, Microsoft has said a small number of attacks have…
Next week onwards, Instagram will enable features which allow you to buy the products you see on its platform. Facebook owned Instagram has stated it will start testing a new feature from next week through which users will be able to purchase products from photos they like on its platform. In a blog post, Instagram…
Researchers have found that for men with black-sounding names, rides were cancelled more than twice as often as for other men by drivers for Uber Technologies Inc. in Boston. Similarly, compared to white customers, notably longer wait times for a car using Uber and Lyft Inc. were faces by black people in Seattle. These are but some…
Ending days of speculation by the industry, General Electric has finally announced its merger of its oil and gas business and the No. 3 oilfield services provider Baker Hughes. This announcement was made on Monday as expected and was based on GE banking on a recovery in oil prices. Baker Hughes shareholders will receive 37.5…
The good news is that the data was encrypted. More often than not, data breaches take place due to an insider. At times it could be as simple as a staff who is not security conscious. According to the Office of the Comptroller of Currency, a worker took more than 10,000 staff and activity records…
