Libra official remains optimistic despite regulatory hurdles, says the cryptocurrency will benefit Europe
A Libra Association executive says it’s still hoping for a 2020 rollout for the digital currency, despite regulatory obstacles and mounting criticism from officials, according to Politico. Facebook’s plans for Libra have faced a nearly constant barrage of criticism and new setbacks from regulators. Officials have expressed concern that it could undermine official currencies, impact global […]
Google will abandon Dutch and Irish tax loopholes, as rules shift on both sides of the Atlantic
Google says it will no longer use the controversial “Double Irish, Dutch sandwich” tax scheme, a set of loopholes that have allowed it to pay a single-digit tax rate on profits made outside the US, according to Reuters. In the widely used tax strategy, companies first transfer funds from an Irish subsidiary to a Dutch holding company, […]
Scotland details plans to become a hub for the development of self-driving vehicles
Scotland’s cabinet secretary Michael Matheson says the nation will take steps to spearhead the development of driverless vehicles, in a report from Transport Scotland outlining its plans to foster innovation, according to BBC News. The “Roadmap for Scotland” report outlines steps to allow Scottish companies to distinguish themselves in the research, testing, and rollout of autonomous […]
Russia has tested a controlled, domestic alternative to the global internet
Russia’s Ministry of Communications says it has successfully tested a domestic alternative to the global internet, according to BBC News. While providing few details, the ministry said that Russian internet users did not notice any changes during a test run in which the domestic internet replaced global access. President Vladimir Putin framed the move as a […]
The UK’s competition authority will investigate Amazon’s investment in Deliveroo
Amazon’s move to invest in the London-based food delivery platform Deliveroo will be investigated by the UK’s Competition and Markets Authority (CMA), the agency announced Friday, according to The Guardian. The CMA raised concerns earlier this month that Amazon’s £442 million investment would lead to higher prices and reduced quality of services for consumers, restaurants, and grocers. […]
Co-founder and former CEO Travis Kalanick steps down from Uber’s board
Uber co-founder Travis Kalanick will step down from the company’s board at the end of the year, cutting ties with the ride-sharing platform and selling the rest of his shares, according to Ars Technica. Investors ousted Kalanick as Uber’s CEO following a series of scandals and scrutiny of the company’s workplace culture in 2017, but he […]
US official warns China could steal state secrets and “intimate” data on UK citizens if Huawei is involved in 5G networks
Huawei’s involvement in 5G mobile networks poses a risk for the UK’s citizens and intelligence agencies, US National Security Advisor Robert O’Brien has warned, according to Reuters. Using the Chinese telecom firm’s equipment in 5G infrastructure could create backdoors allowing the theft of “wholesale state secrets” as well as “intimate” data on UK citizens, he told […]
French startup Majelan raises another €6m for its personalized podcast platform
The French podcast platform Majelan has raised an additional €6 million in funding, according to EU-startups.com, to develop its app offering thousands of podcasts in one place. The startup is also publishing original audio content to compete with established companies like Apple, Spotify, Audible, and Luminary. “Podcasts are growing in popularity in France, with more than […]
Airbnb doesn’t need to comply with regulations for real estate brokers, Europe’s top court rules
The European Court of Justice (ECJ) has ruled that Airbnb is an online platform rather than a real estate broker, allowing the firm to avoid further local regulation across Europe, according to The Guardian. Cities around the world are increasingly seeking to regulate Airbnb, to address concern over its impact on local neighborhoods and housing markets. The […]
French antitrust watchdog fines Google €150m over unclear rules for its ad platform
France’s competition authority has issued a €150 million antitrust fine against Google for abusing its dominant position in the search advertising market, with opaque, unpredictable, and arbitrarily applied rules for its ad platform, according to Reuters. It’s the first fine issued by French antitrust authorities against Google, which is under heightened scrutiny in the rest of […]