Federal prosecutors on Friday (Feb. 11) dropped criminal charges against Citigroup, Deutsche Bank and four senior bankers related to a “significant cartel case” by the Australian Competition & Consumer Commission (ACCC), ending a case that dates back to August 2015, The Financial Times reported. Get...
The rise of digital technologies has improved the world in untold ways. But there has been at least one casualty: privacy. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS...
Google is asking a judge to reverse the fine it received last year from South Korea’s competition regulator after the tech giant tried to force the country’s phone makers to use its Android operating system, according to a report from Yonhap, a Korean news agency....
Media regulators in the European Union (EU) are considering rules designed to end misinformation on Spotify, according to a report in Politico Thursday (Feb. 10). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
In “Competition, Defaults, and Antitrust Remedies in Digital Search,” Francesco Decarolis and Muxin Li of Bocconi University explain how to enhance competition in digital markets by analyzing the recent changes to default search apps on Android devices as a result of the European Commission decision...
Sarah Bloom Raskin, President Biden’s pick for Federal Reserve bank supervisor, is in hot water over her revolving door roles between the government and private sector. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
Elevate Credit agreed to pay a minimum of $3.3 million for charging people interest rates above the 24% maximum allowed by Washington, D.C for loans and credit lines, according to a statement from the Office of the Attorney General for the District of Columbia. Get...
Senator Ron Wyden (D-Ore.), with Senator Cory Booker (D-N.J.) and Representative Yvette Clarke (D-N.Y.), introduced in early February the Algorithmic Accountability Act of 2022. This bill aims to bring transparency and oversight of software, algorithms and other automated systems that are used to make automated...
When Meta announced its quarterly results last week and warned about the strong competition that is facing from other companies like TikTok, the price of its shares plunged, wiping out $230 billions of market value. The biggest one-day loss in history. Get the Full Story...
