Sabtu, 01 Juni 2019

China Launches Investigation Into FedEx in Trade War Escalation - Bloomberg

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China Launches Investigation Into FedEx in Trade War Escalation  Bloomberg

China is launching an investigation into FedEx Corp. for the wrongful delivery of packages, the state-run Xinhua News Agency reported on Saturday. The U.S. express delivery company violated relevant Chinese laws and industry regulations by failing to send packages to correct addresses, the report said. That seriously harmed the legitimate rights and interests of its customers, and the relevant authorities decided to initiate an investigation, according to the report. Earlier this week, FedEx apologized for delivery errors on Huawei Technologies Co. packages following reports that parcels we...

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https://www.bloomberg.com/news/articles/2019-06-01/china-launches-investigation-into-fedex-xinhua

2019-06-01 11:57:51Z
CAIiEKHGrdDRBFJrw7URsyg09gkqGQgEKhAIACoHCAow4uzwCjCF3bsCMIrOrwM

China Launches Investigation Into FedEx, Xinhua Reports - Bloomberg

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  1. China Launches Investigation Into FedEx, Xinhua Reports  Bloomberg
  2. China to investigate whether FedEx harmed client interests: Xinhua  Reuters
  3. View full coverage on Google News

https://www.bloomberg.com/news/articles/2019-06-01/china-launches-investigation-into-fedex-xinhua

2019-06-01 11:42:34Z
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China Launches Investigation Into FedEx, Xinhua Reports - Bloomberg

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China Launches Investigation Into FedEx, Xinhua Reports  Bloomberg

China is launching an investigation into FedEx Corp. for the wrongful delivery of packages, Xinhua reported. The U.S. express delivery company violated relevant laws and regulations of the industry in China by failing to send packages to correct addresses, the report said. That seriously harmed the legitimate rights and interests of its customers. The relevant authorities decided to initiate an investigation, the report said. Earlier this week, FedEx apologized for delivery errors on Huawei Technologies Co. packages following reports that parcels were returned to senders. Huawei had said it...


https://www.bloomberg.com/news/articles/2019-06-01/china-launches-investigation-into-fedex-xinhua

2019-06-01 11:11:03Z
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Buffett’s Charity Auction Breaks Record With $4.57 Million Bid - Bloomberg

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  1. Buffett’s Charity Auction Breaks Record With $4.57 Million Bid  Bloomberg
  2. How to Have Lunch With Warren Buffett  The Wall Street Journal
  3. Warren Buffett: His Best Investing Strategies, Stocks, and Advice  Motley Fool
  4. From software to soft serve, Bill Gates joins Warren Buffett in dishing up ice cream at Dairy Queen  GeekWire
  5. Warren Buffett's Charity Auction Bidding Surges Past $4 Million Level  Bloomberg
  6. View full coverage on Google News

https://www.bloomberg.com/news/articles/2019-06-01/buffett-s-charity-auction-breaks-record-with-4-57-million-bid

2019-06-01 10:20:17Z
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Justice Dept. Explores Google Antitrust Case - The New York Times

WASHINGTON — The Justice Department is exploring whether to open a case against Google for potential antitrust violations, putting renewed scrutiny on the company amid a growing chorus of criticism about the power of Big Tech, three people with knowledge of the deliberations said Friday.

An investigation into how Google arranges search results could revive a case closed in 2013 by another government agency, the Federal Trade Commission. The five F.T.C. commissioners voted unanimously at the time against bringing charges against the company. Google agreed to make some changes to search practices tied to advertising.

But this year, with a new antitrust task force announced in February, the trade commission renewed its interest in Google. In recent weeks, the commission referred complaints about the company to the Justice Department, which also oversees antitrust regulations, according to two people familiar with the actions. The commission has also told companies and others with complaints against Google to take them to the Justice Department.

The task force had been looking into Google’s advertising practices and influence in the online advertising industry, according to two of the people. One of the people said the agency was also looking into its search practices. Most of Google’s revenue comes from advertisements tied to its search results.

A Justice Department spokesman, Jeremy Edwards, declined to comment, as did representatives for Google and the F.T.C.

The Wall Street Journal earlier reported on the Justice Department’s potential inquiry into Google.

If the Justice Department opens a formal investigation, it will be its first major antitrust case against a big tech company during the Trump administration. Google, Facebook and Amazon have come under intense bipartisan criticism, and calls to break up the firms have become a talking point in the race for the 2020 Democratic presidential nomination.

Political leaders and consumer advocacy groups have criticized American regulators for inaction against tech companies. Google, Amazon and Facebook have faced stiff penalties from a variety of European regulators for antitrust and privacy issues. This year, European regulators fined Google 1.5 billion euros for antitrust violations in the online advertising market, the third antitrust move against the company by European officials in three years.

American regulators have been investigating Facebook’s privacy practices, and the outcome is widely seen as a test of the nation’s ability to police how giant tech firms handle user data. The F.T.C. is negotiating a settlement with Facebook that expected to be as much as $5 billion for failing to protect its users’ data from being used for political profiling by Cambridge Analytica, a British political consulting firm that had worked for President Trump’s presidential campaign.

There has been a wave of new antitrust scrutiny into tech companies in Washington, including a Senate hearing in May on digital advertising that featured accusations that Google engaged in anticompetitive practices.

The call to regulate and scrutinize Big Tech has also become a consistent campaign promise among Democratic presidential candidates, even longtime friends of Silicon Valley such as Senators Cory Booker of New Jersey and Amy Klobuchar of Minnesota. Senator Elizabeth Warren of Massachusetts brought her “Break Up Big Tech” slogan to a billboard in San Francisco this week.

“Today’s big tech companies have too much power — too much power over our economy, our society and our democracy,” Ms. Warren wrote in a blog post on Medium this year.

When the F.T.C. announced the antitrust task force, the agency’s chairman, Joseph J. Simons, said it had been created because technology companies presented new challenges to decades-long regulation of antitrust. Companies like Google and Facebook offer free services and can argue that alternative search and social networks are a click away for consumers. That can complicate arguments that the services harm consumers or stifle competition.

The task force has started to steer complaints about Google to the Justice Department’s antitrust division. The department and the F.T.C. regularly negotiate over who has jurisdiction over antitrust cases, including investigations into competition violations and the review of mergers.

While some of the complaints against Google are years old, there has been a surge of new ones in recent months as concerns over Silicon Valley’s influence and power have grown, according to one of the people with knowledge of deliberations.

Stephen Kaufer, the chief executive of TripAdvisor, a company that has complained about Google’s practices in the past, said he welcomed the new scrutiny on the tech giant.

“TripAdvisor remains concerned about Google’s practices in the U.S., the E.U. and throughout the world,” he said in a statement, referring to the European Union. “For the good of consumers and competition on the internet, we welcome any renewed interest by U.S. regulators into Google’s anticompetitive behavior.”

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https://www.nytimes.com/2019/05/31/business/google-antitrust-justice-department.html

2019-06-01 04:03:30Z
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How much? Bidder pays $4.6m for lunch with Warren Buffett - Financial Times

The chance to talk business over a lunchtime steak with the third-richest man in the world has cost an anonymous bidder more than $4.5m. 

On Friday, a charity auction for a meal with renowned investor Warren Buffett, 88, closed at $4,567,888, all of which goes to Glide, a charity working to alleviate poverty and homelessness in the San Francisco Bay Area.

The eager diner’s bid broke the previous record of $3.46m, the amount paid in 2012 and 2016, and takes the total sum raised in the 20 years Mr Buffett has hosted the lunch to more than $33m. 

As has become tradition, the lucky bidder and up to seven friends will dine at New York’s Smith & Wollensky steakhouse with the Oracle of Ohama. Hosted by online marketplace eBay, this year’s auction racked up bids from five anonymous individuals hoping to win what was billed as a “power lunch”. Bidding, which began at $25,000, surpassed $3.5m less than 12 hours after the sale opened on Sunday.

“We’re so amazed and grateful,” said Karen Hanrahan, Glide president and chief executive.

Nestled in the heart of San Francisco’s Tenderloin neighbourhood, Glide offers free meals to those in need, aims to provide a sense of community and helps with addiction problems. 

This year’s annual lunch is especially important for the charity, said Ms Hanrahan. The organisation, which has an annual operating budget of just $23m, is expanding the services it offers in the Bay Area amid worsening levels of poverty and homelessness. 

“The demand for services is skyrocketing and the gap between the rich and the poor is expanding,” she said.

Alongside adding to its daily support services, Glide is also broadening the scope of its work in order to advocate for social justice reforms on a national level. Extreme poverty is starkly visible in San Francisco, where many people live in tents and on the streets just blocks away from expensive new developments and tech billionaires. As rent in the city has soared over the past decade, some have blamed the technology companies whose expansion has transformed the local economy.

Despite the multimillion dollar price tag of lunch with the billionaire founder of Berkshire Hathaway, a successful bid in the annual auction could be considered a savvy investment: a past two-time winner of the charity lunch, Ted Weschler, was hired by Mr Buffett to help manage his stock portfolio after outbidding competitors in 2010 and 2011.

“It’s been nothing but good,” Mr Buffett told Ms Hanrahan before the auction. “I've met a lot of interesting people from all over the world. There’s nothing like backing winners and helping people become winners.”

“Warren has said he will be with us until he can't stand,” said Glide co-founder Janice Mirikitani. “He’s a wise man and a good friend.” 

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https://www.ft.com/content/92c0d21e-83f7-11e9-9935-ad75bb96c849

2019-06-01 03:17:58Z
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Jumat, 31 Mei 2019

Stocks slump after Trump expands trade war to Mexico - ABC News

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https://abcnews.go.com/Business/wireStory/stocks-slump-us-expands-trade-war-mexico-63399646

2019-05-31 17:35:00Z
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