Tech News

Google pays $392 mn in landmark US privacy case

Google on Monday agreed to pay $392 million to settle a landmark privacy case with 40 US states over accusations that the search engine giant misled users into believing location tracking on their devices had been switched off.. Specifically at fault by Google was evidence that users continued to be tracked when they disabled the location history option on their phones as tracking continued through a separate Web & App Activity setting.

Three out of four bitcoin investors have lost money: study

Roughly three-quarters of people who have bought bitcoin have lost money according to a study published Monday as the cryptocurrency sector reels from the collapse of a major exchange that has sapped confidence.. "Overall, back of the envelope calculations suggest that around three-quarters of users have lost money on their bitcoin investments," they said in their study.

Musk's Tesla compensation trial begins in US court

A US trial over Elon Musk's $50 billion compensation package at Tesla began Monday in a Delaware court.. That case did not go to trial after the tycoon agreed to buy the platform for $44 billion after months of trying to wiggle out of the deal.

Google pays $392 mn in landmark US privacy case

Google on Monday agreed to settle a landmark privacy case with 40 US states over accusations that the search engine giant misled users into believing location tracking had been switched off on their devices.. Specifically at fault in their case was evidence that users continued to be tracked when they disabled the location history option on their phones as tracking continued through a separate Web & App Activity setting.

Fed vice chair says 'appropriate soon' to slow rate hikes

It likely will be "appropriate soon" for the US central bank to slow the pace of interest rate increases, Federal Reserve Vice Chair Lael Brainard said Monday.. The US central bank has moved forcefully to lower demand and bring prices down, despite fears that it could trigger a recession.

Amazon founder Bezos says will donate most of fortune to charity

Amazon founder Jeff Bezos has for the first time said he would give away most of his $124 billion fortune to charity, but warned that doing so effectively will be hard.. "Building Amazon was not easy...and I'm finding -- and I think Lauren is finding the same thing -- that charity, philanthropy is very similar."

Brazil's Embraer announces 3rd quarter loss

Brazilian plane-maker Embraer announced on Monday a third quarter loss of 160.4 million reais ($30.2 million) due to falling revenue in its defense and security sectors.. Compared to the third quarter in 2021, when Embraer lost 234 million reais, defense and security revenues fell by 42 percent.

Net-zero in fashion, but clothing giants struggle to cut emissions

The world's fashion giants have pledged to trim their carbon footprint but that goal remains elusive at a time "fast fashion" is all the rage -- a topic in the spotlight at the UN climate summit.  . Some 30 firms -- from retail giants H&M and Zara owner Inditex to sports apparel rivals Adidas and Nike -- signed up to the Fashion Industry Charter for Climate Action at the COP24 summit in Poland in 2018.

Sri Lanka govt takes over $1.7 bn in debt owed to China

Crisis-hit Sri Lanka said Monday it would take responsibility for $1.7 billion owed to China by state enterprises as it seeks to sell them off and restructure its foreign debt to secure an IMF bailout.. Sri Lanka defaulted on its foreign debt in April and the IMF has said its borrowings must be "sustainable" to unlock any new external funding.