Republicans in Congress are alarmed by the leak of confidential IRS data to the investigative news organization ProPublica, enabling it to reveal that famous billionaires including Warren Buffett, Bill Gates and Mark Zuckerberg paid little in U.S. income tax at times. A senior IRS official said Thursday that a federal criminal investigation into the leak […]
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Technology company stocks are in rest mode this year, but what may seem like weakness as the economy recovers is really just dormancy. Digital devices, software and even cybersecurity will be the key areas for steady growth as consumers and businesses become more digital in how they operate, analysts say. The virus pandemic made that […]
Privacy campaign groups filed legal complaints Thursday with European regulators against Clearview AI, alleging the facial recognition technology it provides to law enforcement agencies and businesses breaches stringent European Union privacy rules. Four groups complained to data protection authorities in France, Austria, Greece, Italy and the U.K. about Clearview’s practices. They say the company stockpiled […]
Search engine giant Google has teamed up with South Korean electronics manufacturer Samsung to produce a unified platform for their wearables in a bit to challenge Apple’s dominance over the smartwatch market. According to Statista, Apple’s watchOS has garnered up the largest market share among all its competitors since 2018 at 16.2 percent worldwide, in […]
Despite damaging allegations suggesting Bill Gates pursued women who worked for him, don’t expect changes to his roles at the two iconic institutions he co-founded, Microsoft and his namesake philanthropic foundation. Critics say the revelations raise accountability concerns, though it remains unclear how much the dent to Gates’ reputation might affect the institutions that are […]
Even by Bitcoin’s standards, Wednesday was pretty wild. The price of the famously volatile digital currency fell nearly 30% at one point after the China Banking Association warned member banks of the risks associated with digital currencies. The decline narrowed to below 10% in the afternoon, but Bitcoin had still lost about $70 billion in […]
In Georgia, school bus-maker Blue Bird has visions of going from selling a few hundred electric buses annually to 15,000. In Michigan, Ford plans to produce an all-electric version of its F-150 pickup truck. Both companies are looking to President Joe Biden’s $2.3 trillion infrastructure proposal to help transform the automotive sector as electric vehicles […]
Pressure is mounting on South Korean President Moon Jae-in to pardon Samsung heir Lee Jae-yong, who is back in prison after his conviction in a massive corruption scandal, even though business has rarely looked better at South Korea’s largest company. Lee is just the latest South Korean corporate boss to run his business from behind […]
Electric car maker Tesla will stop accepting Bitcoin as a payment, CEO Elon Musk tweeted on Wednesday, citing environmental concerns. “We are concerned about rapid increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk said on Twitter. He added that cryptocurrency is a […]
Three major Chinese telcos said late last week that they will be delisted from the New York Stock Exchange (NYSE) after the latter denied their requests for appeal, Reuters reported. The delisting comes in line with the U.S.’ Communist Chinese military companies (CCMC) under the National Defense Authorization Act of 1999, enacted by the former […]