Tech

Mark Zuckerberg, who is under fire for Facebook’s dominance, is getting roasted for recommending a book about an inventor who drives his rivals out of business to protect his monopoly

Dylan Byers of NBC News recently asked all of the prominent tech CEOs for book recommendations for the summer. Facebook CEO and founder Mark Zuckerberg recommended the Graham Moore book “The Last Days Of Night,” about the competition between innovators Thomas Edison, Nikola Tesla, and George Westinghouse. Zuckerberg is being […]
Mark Zuckerberg, who is under fire for Facebook’s dominance, is getting roasted for recommending a book about an inventor who drives his rivals out of business to protect his monopoly
Markets

US Treasury Secretary Mnuchin warned that Facebook’s Libra could be a tool for terrorists, traffickers, and drug smugglers

US government officials fear Facebook’s upcoming digital currency, Libra, could be used to fund terrorism, human trafficking, and other illegal activities. “Libra could be misused by money launderers and terrorist financiers,” Treasury Secretary Steven Mnuchin said during a press conference this week. President Donald Trump, Fed Chair Jerome Powell, and […]
US Treasury Secretary Mnuchin warned that Facebook’s Libra could be a tool for terrorists, traffickers, and drug smugglers
Tech

‘They are going to get steamrolled’: California’s governor warns Facebook, YouTube, and other social media giants that government regulation is coming

California Gov. Gavin Newsom warned the tech industry of impending federal regulation in a recent interview with Axios. “The current regulatory framework for these social media companies is going to pale compared to what it will be in a decade,” he said in the interview. Newsom warned against inaction by […]
‘They are going to get steamrolled’: California’s governor warns Facebook, YouTube, and other social media giants that government regulation is coming
Tech

Here’s why the failed attempt to break up Microsoft will make or break the crackdown on Facebook, Amazon, and Google, according to 2 top lawyers in the Microsoft case

The Microsoftantitrust trial of the 1990s has important lessons for government regulators as they decide what to do about companies that dominant the tech industry today, two central players in the Microsoft case said. The Microsoft case shows how important it is to enforce antitrust laws, even if such an […]
Here’s why the failed attempt to break up Microsoft will make or break the crackdown on Facebook, Amazon, and Google, according to 2 top lawyers in the Microsoft case
Tech

Afterpay in hot water with Australia’s terrorism financing watchdog — just one day after trumpeting its US retail success

Payments platform Afterpay is in dialogue with AUSTRAC, Australia’s financial intelligence agency, over issues relating to compliance with anti-money laundering and counter-terrorism financing laws. The ‘buy now, pay later’ service pioneer says it hasn’t identified any money laundering or terrorism financing activity on its platform, but confirmed that AUSTRAC has […]
Afterpay in hot water with Australia’s terrorism financing watchdog — just one day after trumpeting its US retail success
Markets

Amazon bulls may be ignoring a key regulatory risk

Amazon bulls may be ignoring a critical threat to the company, according to a new research note. Antitrust actions against the company may take place at the state level despite a lack of concern that the company violates federal antitrust law. Watch Amazon trade live. Amazon bulls may face a […]
Amazon bulls may be ignoring a key regulatory risk
Markets

Bitcoin is down after China signals it wants to ban bitcoin mining

Bitcoin slid 2% after China’s state planner added bitcoin mining to a draft list of activities it wants to ban, according to Reuters. The decision comes as the Chinese government continues to crack down on cryptocurrency trading exchanges, cryptomining, and new cryptocurrencies. China is the world’s largest market for bitcoin-mining […]
Bitcoin is down after China signals it wants to ban bitcoin mining
Markets

Amazon has a massive opportunity in a $600 billion market

Under India’s new regulations, which began on February 1, foreign e-commerce sites like Amazon are banned from exclusive sales and have restrictions on discounts. While the new rules add headwinds for Amazon’s business in India, the tech giant’s sizable presence in the country will still help it capitalise on huge […]
Amazon has a massive opportunity in a $600 billion market
Tech

Instagram TV’s ‘very disturbing’ videos show social media needs regulation, according to a prominent British politician

Conservative politician Damian Collins called for new rules to create a “commercial incentive” for social media companies to effectively moderate their content, after being shown evidence from a Business Insider investigation into Instagram’s new service IGTV. Business Insider discovered during a three-week investigation that IGTV’s algorithm recommended disturbing and potentially […]
Instagram TV’s ‘very disturbing’ videos show social media needs regulation, according to a prominent British politician
Markets

Soybeans plunge to near their lowest level in a decade

Soybean prices fell more than 1% on Tuesday amid a quickly advancing US harvest and an escalation in trade tensions with China. The legume was trading near its lowest level since 2008. Watch soybeans trade in real time here. Soybean prices fell to a decade-low on Tuesday after data pointed […]
Soybeans plunge to near their lowest level in a decade
Tech

Regulators from more than a dozen countries are looking to crack down on ‘loot boxes,’ a controversial video gaming practice that could be too much like gambling

European regulators are questioning whether video games featuring random prizes you have to pay real money to get are the equivalent of gambling. During a meeting of the Gambling Regulators European Forum, 15 European regulators and the Washington State Gambling Commission signed a joint statement expressing concerns over loot boxes, […]
Regulators from more than a dozen countries are looking to crack down on ‘loot boxes,’ a controversial video gaming practice that could be too much like gambling
Tech

Here’s why Ashton Kutcher thinks it’s ‘absurd’ if you have a problem with the scooters that were littering San Francisco’s footpaths

Electric scooter companies like Lime, Bird, and Spin faced regulatory issues after introducing their pay-as-you-go scooter services to the streets of San Francisco earlier this year. Ashton Kutcher, who invested in Bird through his venture firm Sound Ventures, says that the regulatory issues facing the electric scooter companies is ‘absurd.’ […]
Here’s why Ashton Kutcher thinks it’s ‘absurd’ if you have a problem with the scooters that were littering San Francisco’s footpaths
Markets

The maker of LaCroix claims it’s seeing ‘growth never before thought possible’ — now it’s under scrutiny from regulators who want proof

LaCroix’s parent company National Beverage is coming under pressure from regulators amid claims that it’s achieving “growth never before thought possible.” The US Securities and Exchange Commission wants details around two proprietary measures that National Beverage has cited repeatedly in filings. The regulatory agency says National Beverage hasn’t properly explained […]
The maker of LaCroix claims it’s seeing ‘growth never before thought possible’ — now it’s under scrutiny from regulators who want proof
Markets

Elizabeth Warren says there’s a dirty little secret behind the Republicans’ push for broad deregulation

Senator Elizabeth Warren sharply criticises the Trump administration’s wide-ranging deregulatory efforts, pushing hard against the notion that rules of the road restrict economic freedom. “Deregulation is code for ‘let the rich guys do whatever they want,'” Warren said during a keynote speech at Georgetown University Law School. She says Republicans’ […]
Elizabeth Warren says there’s a dirty little secret behind the Republicans’ push for broad deregulation
Tech

US authorities just charged a ‘blockchain evangelist’ who raised $21 million while claiming to work with Disney and Apple

The Securities and Exchange Commission alleged that the blockchain startup Titanium Blockchain Infrastructure Services (TBIS) and its president Michael Stollaire violated federal securities laws in a $US21 million fundraiser. TBIS and Stollaire allegedly promoted fake business relationships with companies like Apple and Disney. The SEC has also alleged that Stollaire […]
US authorities just charged a ‘blockchain evangelist’ who raised $21 million while claiming to work with Disney and Apple
Markets

Google-parent Alphabet is slipping ahead of its earnings report

Google-parent Alphabet is scheduled to report earnings after the closing bell Monday. Wall Street is bullish, but with caution. Potential regulation is sure to be at the front of investors minds. Follow Alphabet stock in real-time here. Google-parent company Alphabet is slipping, down as much as 0.4%, after of its […]
Google-parent Alphabet is slipping ahead of its earnings report
Markets

CREDIT SUISSE: Facebook’s risks are already priced in

A Credit Suisse analyst believes the data breach debacle that sent Facebook down Monday is already baked into the stock. The analyst said Facebook has already taken steps to remedy privacy concerns. He maintained his price target of $US240 per share. Watch Facebook’s stock move in real time here. Facebook […]
CREDIT SUISSE: Facebook’s risks are already priced in
News

The biggest Wall Street bill in years is tearing US Democrats apart

The Senate is close to passing a bill that would roll back a slew of Wall Street regulations. Democrats are divided on the bill, with Sen. Elizabeth Warren leading the fight against the measure. A solid group of Democratic moderates are in favour of the bill and pushing back against […]
The biggest Wall Street bill in years is tearing US Democrats apart
Markets

Nobel economist Stiglitz sees no legal functions for bitcoin: ‘We have a good medium of exchange called the dollar’

The Nobel Prize-winning economist Joseph Stiglitz says bitcoin serves no useful function – other than circumventing legality. Stiglitz, who has called on bitcoin to be outlawed, told Bloomberg Television from Davos, Switzerland: “We have a good medium of exchange called the dollar.” He argues that regulating bitcoin would mean driving […]
Nobel economist Stiglitz sees no legal functions for bitcoin: ‘We have a good medium of exchange called the dollar’
Markets

Bitcoin is slumping back down towards $10,000

Bitcoin is down 7%, trading around $US10,700 Monday morning. The flagship cryptocurrency plummeted last week, before paring some of its losses on Friday. Now it could fall below $US10,000 per coin once again. Follow the price of bitcoin in real-time here>> After paring much of last week’s heavy losses on […]
Bitcoin is slumping back down towards $10,000