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Tag: Alphabet

March 20, 2024

French Regulator Imposes €250 Million Fine on Google Over AI Copyright Issues

Google is again under regulatory scrutiny over its AI approach. The French competition authority announced a substantial fine of €250 million against tech giant Google for violations related to EU intellectual property regulations in its dealings with French media publishers. This action underscores growing concerns over the use of AI technology and its implications on copyright law.

FinTelegram

March 5, 2024

UK FinTech Giant Monzo Secures $400 Million, Elevating Valuation to $5 Billion

In a significant development that underscores the robust health and growing investor confidence in the FinTech sector, UK-based challenger bank Monzo has announced the successful closure of a $400 million funding round. This latest injection of capital propels Monzo's valuation to an impressive $5 billion, marking a significant milestone for the digital bank in its pursuit of profitability and expansion.

March 1, 2024

Fight For Humanity: Elon Musk Files Lawsuit Against OpenAI for Deviating from Non-Profit Mission

Elon Musk has initiated legal action against OpenAI, the artificial intelligence research lab he co-founded, and its CEO, Sam Altman. The lawsuit, filed in San..

Markets

January 26, 2024

Driven by AI: Microsoft is now a $3 trillion company!

In an impressive surge driven by the artificial intelligence (AI) revolution, Microsoft has reached a monumental valuation, surpassing the $3 trillion mark. It’s the second company, after Apple, to reach the milestone valuation. This remarkable achievement positions Microsoft as the second company in history to breach this threshold, following closely behind Apple. Microsoft's shares have seen a significant upswing, climbing more than 7% this year after a notable 40% increase last year.

January 22, 2024

Tech Rules The World: The “Magnificent Seven” Tech Giants Spearhead S&P 500’s Rally!

A recent NYT article highlights the significant influence of seven major technology companies, dubbed the "Magnificent Seven," on the recent surge of the S&P 500 index. These companies – Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla – have collectively seen their value soar by nearly 117% since the S&P 500's low point in October 2022 propelled the index to new heights.

November 5, 2022

Brace For Tech Winter! Massive Layoffs On The Road To Global Recession!

One of the clearest indicators that an economic downturn, if not a recession, is knocking at the door is when companies start with layoffs. Twitter was this week just the last tech giant that announced and executed a massive layoff, allegedly firing half of its staff. Stripe CEO Patrick Collison announced the layoffs of over 14% of its workforce, amounting to more than 1,000 jobs. Raid-hailing operator Lyft announced the layoff 13% of its workforce, or nearly 700. Brace for the Tech Winter.

Jeton Group Analysis: Facilitating Online Casinos Beyond Compliance!

FCA-regulated Jeton Group, a high-risk payment processor, has been deeply involved in facilitating transactions for illegal online casinos, including those operated by the Starscream Group. Jetonbank, a digital offshore bank regulated by the FSU in Dominica, has furthered these operations by enabling fiat deposits for players in unlicensed jurisdictions. This report calls for insiders to provide critical whistleblower information.

FinTelegram

Operation Niflheim: Brazilian Law Enforcement Targets $9.7 Billion Crypto Money Laundering Scheme!

Brazilian Federal Police have dismantled a major crypto-based money laundering operation, dubbed Operation Niflheim, targeting groups involved in laundering over $9 billion since 2021. The operation led to the issuance of eight arrest warrants and 19 search and seizure orders. The scheme used cryptocurrencies to funnel illicit funds from activities like drug trafficking abroad.

eToro Settles with SEC, Restricts Crypto Trading

Under its chair, Gary Gensler, the SEC is taking massive action against crypto companies in the U.S. The regulator believes that most coins and tokens qualify as securities, and therefore, the issuers and exchanges need appropriate registration. The U.S. subsidiary of the Israeli eToro broker scheme has also been sued for this reason. eToro settled with the SEC with a $1.5 million payment.

Crypto Crime Case FTX: Caroline Ellison Seeks No Jail Time for Role in FTX Fraud

Caroline Ellison, a former top executive in the collapsed crypto exchange FTX and former girlfriend of FTX CEO Sam Bankman-Fried, is seeking no prison time at her sentencing later this month. The lawyers cited her immediate and extensive cooperation with U.S. authorities when FTX collapsed in November 2022 and noted that the court's Probation Department recommended that she serve no prison time.

TD Bank Fined $28 Million for Illegal Credit Reporting Practices!

The U.S. CFPB ordered TD Bank to pay $7.76 million to tens of thousands of victims of the bank’s illegal actions. For years, the bank has repeatedly shared inaccurate, negative information about its customers with consumer reporting companies. The information included systemic errors about credit card delinquencies and bankruptcies. In addition to the redress, the CFPB is ordering TD Bank to pay a $20 million civil money penalty.