Business news

Business

Twitter to pay $809 mn to settle suit claiming investors were misled

Twitter announced Monday it will pay $809 million to settle a 2016 lawsuit alleging members of the social network's leadership, including founder Jack Dorsey, provided misleading information to investors about slowing user ...

Business

UN agency: Innovation continued even as coronavirus emerged

The U.N.'s intellectual property agency said Monday that innovation marched forward last year despite the impact of the coronavirus outbreak. Technology, pharmaceuticals and biotech industries boosted their investments, even ...

Business

Critics warn of Apple, Google 'chokepoint' repression

The global dominance of tech giants serves as a convenient online chokepoint for authoritarian governments to crack down on dissent or rig elections, critics of Apple and Google said Friday.

Business

Bitcoin mining generates substantial electronic waste: study

Mining for bitcoin generates substantial electronic waste that "represents a growing threat to the environment", according to a recent study.

Business

British computing inventor Clive Sinclair dies at 81

Clive Sinclair, the British inventor and entrepreneur who arguably did more than anyone else to inspire a whole generation of children into a life-long passion for computers and gaming, has died. He was 81.

Business

Regulators frown as crypto players move into banking

With offers of loans and interest-earning accounts, more new cryptocurrency firms are straying into the world of traditional banks, to the consternation of US financial regulators.

Business

US regulators wary of Big Tech swallowing startups

US anti-trust regulators signalled Wednesday greater scrutiny of Big Tech giants' smaller acquisitions, a potential new avenue in efforts to curb the dominance of the companies.

Business

Remote work goes 'luxury', but many may be left out

Virtual reality meetings, $7,000 all-in-one kits and digital hot desking: Big Tech is rolling out premium tools as the work-from-home era looks set to last well beyond the pandemic.

Business

Dutch court: Uber drivers covered by taxi labor agreement

A court in Amsterdam ruled Monday that Uber drivers fall under the Dutch taxi drivers' collective labor agreement—meaning they are entitled to the same employment benefits as taxi drivers. Uber said it would appeal the ...

Business

Fugitive Chinese billionaire's firms to pay $539mn fines

Three companies of exiled Chinese billionaire Guo Wengui have agreed to pay $539 million in penalties to settle charges over illegal cryptocurrency sales, the top US financial market watchdog said Monday.

Business

Australian watchdog blocks Qantas-Japan Airlines deal

Australia's competition regulator on Monday definitively blocked a pricing, code-sharing and scheduling deal between Qantas and Japan Airlines, saying the arrangement would hurt consumers.

UPS exec sees supply chain disarray extending into 2022

UPS is girding for more supply chain problems in 2022 after this year's upheaval, but does not expect the disruption to cause huge spikes in transport costs, the shipping giant's international president Scott Price told AFP.

Business

Faded internet pioneer Yahoo gets new boss

One-time internet giant Yahoo, which has undergone recent ownership changes and strategic pivots, announced Friday that Tinder CEO Jim Lanzone will be its new chief as the company looks for new opportunities.

Consumer & Gadgets

Apple takes app payment hit in Epic court fight

A US judge on Friday ordered Apple to loosen control over its App Store payment system, a blow to the global tech giant sparked by its anti-trust battle with Fortnite maker Epic Games.

Business

Big Tech made billions during 'war on terror': report

Tech giants made billions through contracts with the US military and other government agencies during the so-called "war on terror", according to a report released ahead of the 20th anniversary of 9/11.

Business

Epic seeks 'Fortnite' return on Apple's S. Korea App Store

Major US videogame developer Epic Games has asked Apple to restore its flagship game "Fortnite" on the South Korean app store after Seoul passed a law curbing the monopolistic power of platform operators, it said Friday.