iab-personal finance – The News Desk

US SEC seeks court order to compel Elon Musk to testify about his Twitter acquisition

5Oct

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Technology

US SEC seeks court order to compel Elon Musk to testify about his Twitter acquisition

New York CNN — The US Securities and Exchange Commission on Thursday applied for a court order to force Elon Musk to testify in an ongoing probe related to his acquisition of Twitter and public disclosures he made in connection with the deal, according to court filings. The filing Thursday in San Francisco federal court seeks a judge’s order requiring Musk to testify, alleging “blatant refusal to comply” with an earlier SEC subpoena. X, the company formerly known as Twitter, did not immediately respond to a request for comment. The SEC action is the latest turn in a long-running inquiry into whether Musk fully complied with his disclosure obligations when he began acquiring large amount...

FCC to propose rules for net neutrality that ban internet providers from blocking websites

27Sep

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Technology

FCC to propose rules for net neutrality that ban internet providers from blocking websites

CNN — The US government aims to restore sweeping regulations for high-speed internet providers such as AT&T, Comcast and Verizon, reviving “net neutrality” rules for the broadband industry — and an ongoing debate about the internet’s future. The proposed rules from the Federal Communications Commission will designate internet service — both the wired kind found in homes and businesses as well as mobile data on cellphones — as “essential telecommunications” akin to traditional telephone services, said FCC Chairwoman Jessica Rosenworcel. The rules would ban internet service providers (ISPs) from blocking or slowing down access to websites and online content. In addition to the prohibitions on b...

Fortnite players can claim funds in Epic Games settlement

19Sep

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Technology

Fortnite players can claim funds in Epic Games settlement

New York CNN — Millions of Fortnite users can now claim their small part of the $245 million that the game’s parent company agreed to pay as part of a settlement with the US Federal Trade Commission. Epic Games in December settled allegations with the FTC that it used deceptive tactics that drove users to make unwanted purchases in the multiplayer shooter game that became wildly popular with younger generations a few years ago. The FTC said Tuesday it has now opened the claims process for the more than 37 million potentially affected users who could qualify for compensation. Epic Games agreed in December to pay a total of $520 million to settle US government allegations that it misled millions of...

Arm IPO: China is huge for the SoftBank-owned company. That’s a risk for its new investors

14Sep

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Technology

Arm IPO: China is huge for the SoftBank-owned company. That’s a risk for its new investors

Hong Kong CNN — As British chip designer Arm prepares to raise about $5 billion in an initial public offering (IPO) on Thursday, its China business has become a serious point of concern. The SoftBank-owned firm used many pages of its IPO prospectus to warn investors of risks related to its exposure to China at a time of rising tension between Washington and Beijing over chip technology. Its regulatory filing last month revealed that a quarter of its sales come from China, through an unusual relationship with an entity it does not control and with which it has a complex history. Arm China is “an entity that operates independently of us and is our single largest customer,” the company s...

15Aug

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Technology

US watchdog teases crackdown on data brokers that sell Americans’ personal information

Washington CNN — The US government plans to rein in the vast data broker industry with new, privacy-focused regulations that aim to safeguard millions of Americans’ personal information from data breaches, violent criminals and even artificial intelligence chatbots. The coming proposal by the Consumer Financial Protection Bureau would extend existing regulations that govern credit reports, arrest records and other data to what the agency describes as the “surveillance industry,” or the sprawling economy of businesses that traffic in increasingly digitized personal information. The potential rules, which are not yet public or final, could bar data brokers from selling certain types of consumer inf...

15Aug

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Technology

YouTube to prohibit false claims about cancer treatments under its medical misinformation policy

New York CNN — YouTube announced Tuesday that it will start removing false claims about cancer treatments as part of an ongoing effort to build out its medical misinformation policy. Under the updated policy, YouTube will prohibit “content that promotes cancer treatments proven to be harmful or ineffective, or content that discourages viewers from seeking professional medical treatment,” Dr. Garth Graham, head of YouTube Health, said in a blog post Tuesday. “This includes content that promotes unproven treatments in place of approved care or as a guaranteed cure, and treatments that have been specifically deemed harmful by health authorities,” he said, such as the misleading claim that patients ...

10Aug

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Technology

Portable cell sites arrive in Maui to bring internet to residents and tourists

New York CNN — Portable mobile hotspots have arrived in Maui to help bring internet service to the thousands of people who may have been unable to call for help since the wildfires started to rage out of control on the island. Verizon told CNN on Thursday its teams are currently deploying the first batch of satellite-based mobile hotspots at evacuation sites in areas of greatest need, particularly the west side of the island, west of Maalaea, Lahaina and Northern Kapalua. Verizon’s larger equipment, which is being barged over from Honolulu, is expected to arrive later in the day. This includes COLTs (Cells on Light Trucks) — a mobile site on wheels that connects to a carrier’s service via a satell...

Amazon’s stock surges as profit jumps and sales jump

3Aug

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Technology

Amazon’s stock surges as profit jumps and sales jump

New York CNN — Amazon (AMZN)’s sales boomed on strong demand in the second quarter for its wide range of products, from fast delivery for Prime deals to ads, fueling a massive jump in profit from a year ago. Sales grew 11% to $134.4 billion. That’s an increase from $121.2 billion in the second quarter of 2022. The number exceeded analyst predictions of $131.4 billion revenue. The stock surged nearly 10% in after-hours trading. Amazon’s stock has risen 52% year to date, one of a handful of tech stocks that has helped power the market higher this year. The company’s profit jumped sharply compared to this quarter last year. Its net income was $6.7 billion in t...