Business, Financial & Legal News - Page 4

The latest and most important Business, Financial & Legal news - Page 4.

Pentagon report says there's 'increased potential' for nuclear war

Jak Connor | Fri, Jul 9 2021 4:31 AM CDT

A newly disclosed Pentagon report on nuclear operations states that there is "increased potential" for a nuclear conflict between the US and Russia, China, North Korea, and Iran.

Pentagon report says there's 'increased potential' for nuclear war 01 | TweakTown.com

The report mentions that both Russia and China have constantly been stockpiling nuclear weapons and expanding their already vast weapons for the last ten years. As for North Korea, the Pentagon report states that the nation is testing out long-range missiles that are capable of reaching the United States.

The Pentagon report is from 2020 and was disclosed on Tuesday. It says that the United States has attempted to negotiate with these countries about reducing the number of nuclear weapons being developed. However, the report states that "no potential adversary has reduced either the role of nuclear weapons in its national security strategy or the number of nuclear weapons it fields. Rather, they have moved decidedly in the opposite direction."

Continue reading: Pentagon report says there's 'increased potential' for nuclear war (full post)

President Trump suing Facebook, Google, Twitter over social media bans

Anthony Garreffa | Wed, Jul 7 2021 4:01 PM CDT

President Trump was pretty much memory holed and removed from social media earlier this year, but he's not sitting on his hands at all -- far from that in fact.

President Trump has announced that he is suing Facebook, Google, and Twitter -- and their respective CEOs in Mark Zuckerberg, Sundar Pichai, and Jack Dorsey. Trump said at a news conference in Bedminster, New Jersey: "We're demanding an end to the shadow banning, a stop to the silencing, a stop to the blacklisting, vanishing and canceling". He added that "we are asking the court to impose punitive damages".

The major argument that President Trump is pushing is that being suspended from his various social media accounts is an infringement on the First Amendment, that free speech wouldn't be stomped on by the government. President Trump added: "The Founding Fathers inscribed this right in the very first amendment to our Constitution because they knew that free speech is essential to the prevention of, look ... the prevention of horror".

Continue reading: President Trump suing Facebook, Google, Twitter over social media bans (full post)

Here's how $10 million in Xbox gift cards stolen by Microsoft employee

Jak Connor | Tue, Jul 6 2021 6:04 AM CDT

A former Microsoft employee may face deportation back to his home country if he's found guilty of stealing $10 million in Xbox gift cards.

Here's how $10 million in Xbox gift cards stolen by Microsoft employee 02 | TweakTown.com

According to a report from Windows Central, Vologymyr Kvashuk used his position as infrastructure tester at Microsoft to give himself $10.1 million worth of Xbox gift cards. Kvashuk reportedly discovered a bug in Microsoft's e-commerce code when he found that that Microsoft gave digital goods to the buyer even if they used a fake credit card.

Kvashuk then wrote a program essentially printed money to himself as it allowed him to mass-withdraw virtual gift cards from Microsoft. Prosecutors said that the scheme devised by Kvashuk "singularly responsible for global fluctuations in the price of Xbox gift cards on reseller markets." As previously mentioned, Kvashuk may face deportation back to Ukraine after he completes his prison sentence in 2027. Additionally, Kvashuk is required to pay back $8.3 million.

Continue reading: Here's how $10 million in Xbox gift cards stolen by Microsoft employee (full post)

TSMC finishing up clean room, EUV contracts for US fab as we speak

Anthony Garreffa | Mon, Jul 5 2021 8:52 PM CDT

TSMC is in the final stages of the business side of things with its upcoming US chip facilities, with the latest reports stating that contracts for clean room supplies teases that we're not far from TSMC's new US-based fab construction beginning.

TSMC finishing up clean room, EUV contracts for US fab as we speak 02 | TweakTown.com

The new US-based fabs are being built in Arizona, with Taiwan Semiconductor Manufacturing Company (TSMC) joining Intel in the state of Arizona and making some of the world's best chips. Clean room supplies are required right as you're going to -- drum roll please -- need a clean room.

A clean room is the central part of a fab -- a place that has absolutely zero dust, because a single tiny speck of dust can ruin a microcircuit -- and a microcircuit has nanoscale features that are smaller than dust. So dust in a clean room, is a very big deal. Getting to the clean room stage means we're close to TSMC kicking things off in the US with its fabrication plant.

Continue reading: TSMC finishing up clean room, EUV contracts for US fab as we speak (full post)

Facebook is the youngest company to receive a $1 trillion valuation

Jak Connor | Fri, Jul 2 2021 4:34 AM CDT

Facebook has reached another milestone in its history as a social media platform, as the company has closed above $1 trillion in market capitalization.

Facebook is the youngest company to receive a $1 trillion valuation 01 | TweakTown.com

Facebook is now the fifth company in the United States to reach the milestone and will now join other companies such as Microsoft, Apple, Amazon, and Google's parent company Alphabet in the small circle. The increase in Facebook's value came after an antitrust complaint proposed by the US Federal Trade Commission was dismissed. This dismissal by the court caused Facebook's share price to close up 4.2% at $355.64.

In May 2012, Facebook debuted its IPO with a market cap of $104 billion, and in the following years, that number grew before it took a 19% drop in 2018 after a number of non-favorable news stories were published - Cambridge Analytica being the main one to note. Since July 27, 2018, Facebook has managed to increase its user base, and ultimately the amount of revenue it makes as a company, as its stock price has risen 90% since that July of 2018.

Continue reading: Facebook is the youngest company to receive a $1 trillion valuation (full post)

Amazon asks new FTC head to not regulate it because she's been a bully

Jak Connor | Fri, Jul 2 2021 3:33 AM CDT

Amazon has put forward an official motion asking Lina Khan not to involve herself within any proceedings that involve Amazon on the basis of her past statement regarding the company.

Amazon asks new FTC head to not regulate it because she's been a bully 01 | TweakTown.com

Amazon has filed a recusal motion against the new Federal Trade Commission (FTC) Commissioner Lina Khan, asking the new FTC chair to separate herself from any future regulatory proceedings involving the FTC and Amazon. "[Federal ethics rules] require recusal when a new Commissioner previously has expressed views that go beyond general policy commentary and has made statements about specific factual and legal issues relating to a particular company."

Adding, "Chair Khan has made numerous and highly detailed public pronouncements regarding Amazon, including on market definition, specific conduct and theories of harm, and the purpose, effects, and legality of such conduct. Indeed, she has on numerous occasions argued that Amazon is guilty of antitrust violations and should be broken up."

Continue reading: Amazon asks new FTC head to not regulate it because she's been a bully (full post)

Robinhood slapped with $70 million fine from financial regulators

Anthony Garreffa | Wed, Jun 30 2021 8:04 PM CDT

Robinhood has been ordered to pay $70 million in penalties over their outages, as well as misleading communication and dodgy trading practices.

The Financial Industry Regulatory Authority (FINRA) is a self-regulatory organization that oversees brokerage firms and their registered representatives -- slapped Robinhood with a $70 million fine. This is split between a $57 million fine and $13 million in restitution to thousands of customers.

FIRNA explained: "FINRA considered the widespread and significant harm suffered by customers, including millions of customers who received false or misleading information from the firm, millions of customers affected by the firm's systems outages in March 2020, and thousands of customers the firm approved to trade options even when it was not appropriate for the customers to do so".

Continue reading: Robinhood slapped with $70 million fine from financial regulators (full post)

CD Projekt securities lawsuit moves forward, damages still unspecified

Derek Strickland | Tue, Jun 29 2021 3:47 PM CDT

CD Projekt Group's securities fraud lawsuit is moving forward and the company has received official claims from plaintiff's representation.

CD Projekt securities lawsuit moves forward, damages still unspecified 415 | TweakTown.com

CD Projekt Group is getting sued in a class-action lawsuit that alleges securities fraud. Shareholders allege that CD Projekt purposefully withheld Cyberpunk 2077's controversial performance on PS4 and Xbox One, which led to a significant controversy that plummeted stocks. Investor losses from the stock dive are the catalyst for the securities fraud claims.

Now CD Projekt says it has received a copy of the claims made by the plaintiffs. Four securities fraud lawsuits have been filed, but the cases have been combined into one case in order to expediate the process.

Continue reading: CD Projekt securities lawsuit moves forward, damages still unspecified (full post)

North Korea state TV drop bombshell comment about Kim Jong-un's health

Jak Connor | Tue, Jun 29 2021 3:03 AM CDT

In recent images and videos of Kim Jong-un, it appears the leader has slimmed down, but according to the country's state television, he is "emaciated".

North Korea state TV drop bombshell comment about Kim Jong-un's health 01 | TweakTown.com

For those that don't know, "emaciated" defines as 'abnormally thin or weak, especially because of illness or a lack of food.' The state television is forbidden to comment on the leader's personal live, which suggests that the comment was pre-planned. If the comment made in a report by KCTV was pre-planned, it would seem that Kim Jong-un has dropped the weight and the comment to show his devotion to his nation that is currently suffering from food shortages on top of an apparent economic struggle.

Here's what a resident of the capital that remained anonymous said in the KCTV report, "Seeing our respected general secretary looking emaciated breaks our people's hearts the most. Everyone is talking about how their tears welled up immediately." It seems that the drop in weight by the leader is an effort to portray that he is just like the struggling people living in the streets of his country, who are, by his own admission, experiencing a "tense" food situation.

Continue reading: North Korea state TV drop bombshell comment about Kim Jong-un's health (full post)

AdBlock glitch wipes content from major sites: Twitter, Amazon, others

Anthony Garreffa | Mon, Jun 28 2021 7:20 PM CDT

If you're an AdBlock or AdBlock Plus user then you might have noticed something weird going on with your web browsing experience over the last few days.

AdBlock and AdBlock Plus users have had the content of major websites wiped from their web browser, with these sites including the likes of Twitter, Amazon, Wikipedia, and others. The company has said that the problem "has already been fixed" without detailing exactly what happened.

It is definitely an interesting "error" to happen, so maybe it was a trial run for something AdBlock has planned for the future. Or maybe it was just one of those niggly bugs, that happens to wipe content from users' web browsers for some of the latest websites on the internet.

Continue reading: AdBlock glitch wipes content from major sites: Twitter, Amazon, others (full post)

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