Margrethe Vestager (previously) is the EU competition commissioner who handed out a bouquet of multibillion-dollar fines to US-based Big Tech companies; she had resigned herself to being ousted after her previous term but in a last-minute surprise she has been granted another turn in office, with a new mandate to create a "Europe fit for the digital age." Vestager's heart is definitely in the right place, even if she has effectively taken forced breakups off the table, judging that the ensuing legal wrangle will do more harm than good, even if it might put Big Tech's execs on notice that bad behaviour has real consequences.
Post-Brexit, Google plans to move UK user accounts out of the control of European Union privacy regulators, and will place them under U.S. jurisdiction instead, where privacy protections are weaker, reports Joseph Menn at Reuters.
Last year, the EU adopted the incredibly controversial Copyright Directive (it passed by only five votes, and afterwards 10 MEPs said they'd got confused and pushed the wrong buttons!): now, EU member states have to create rules that require online platforms to filter all user-generated content and block it if it matches a secret, unaccountable […]
Cum-ex (previously) is a technical, boring financial engineering technique that lets fraudsters file multiple tax-refund claims for the same stock transactions (they called it "dividend arbitrage"); from 2006-2011, the EU's largest, most respectable banks, law firms, and investors used the scam to steal $60,000,000,000.
Even though it feels like Amazon is a singular retail juggernaut crushing everybody else, you might be surprised to learn that half of Amazon’s $280 billion in revenue last year came from third-party sellers. According to numbers compiled by JungleScout, 86 percent of Amazon’s Fulfilled by Amazon (FBA) sellers were profitable last year, more than […]
Amidst all the deadly serious concern and fallout from our global battle against COVID-19, you’ve likely been forced to confront more than a few moments that you never expected to face. And you likely never felt sillier during this scary time than when you were racing all over town hoping desperately that some store had […]
“It’s better to have it and not need it than to need it and not have it.” – “Lonesome Dove,” Larry McMurtry If the past few months have taught us anything, it’s that we need to be prepared now more than ever. Emergency situations can happen quickly and there’s no telling when you may need […]