Both Google and Amazon are in hot water with antitrust watchdogs around the world. Jeff Bezos has a new billionaire on his heels who wants to claim the title of third richest person in the world. A new wave of companies plan to be willing to disclose salary information for job vacancies as part of a series of laws mandating such transparency.
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In the news today
- Tedros Adhanom Ghebreyesus, director-general of the World Health Organization, urged countries to take important actions like reaching 100% Covid-19 vaccination levels among the elderly because the The “finish line” of the pandemic is in sight. The world has “never been in a better position to end the pandemic,” he said, urging governments to seize the opportunity to finally bring an end to the 32-month global health crisis.
- The WHO has also put the US on the list of countries where polio, a dangerous disease that can cause paralysis or death, is circulating due to the outbreak in New York highlighting it Consequences of the growing anti-vaccination movement. The US is the only country from America to receive this classification and one of the few wealthy ones. Other nations on the list are Somalia, Burkina Faso, Uganda, Ethiopia and Ghana.
Top take aways
Patagonia founder Yvon Chouinard gave up its billionaire status by transferring full ownership of its 49-year-old outdoor apparel company to trusts and nonprofits, while pledging to use all future profits to help fight climate change.
Google lost an appeal in court and may now face one Record fine of $4.12 billion owed to the European Union in an antitrust case that found the company “imposed unlawful restrictions” on Android users by forcing device makers to preinstall Google Search and the Google Play Store. The ruling strengthens the bloc’s ability to crack down on big tech companies.
In other antitrust news, California is suing Amazon Over allegations, the online retail giant forced retailers to sign agreements that included severe penalties for offering products at lower prices on other online retail sites, effectively stifling competition. As a result, Amazon has reportedly overpriced consumers as the company charted new heights of success during the pandemic.
Infrastructure tycoon Gautam Adani temporarily ousted Amazon founder Jeff Bezos as the third richest person in the world on Wednesday, when his net worth briefly rose to $150.6 billion. As of early Thursday morning, his net worth was around $155.5 billion, according to the forbes Real time tracker for billionaires. A nearly $10 billion loss on Bezos’ fortune — sustained as Amazon shares fell 7% on Tuesday — caused the shake, though the difference between the two men’s net worth has narrowed enough that their Series are expected to continue to fluctuate.
The Justice Ministry is charging three Iranian nationals who allegedly hacked into hundreds of organizations across the US, UK, Russia and other countries, including a domestic violence shelter in Pennsylvania, as well as local government agencies and non-profit organizations. The hackers active in recent years used Microsoft’s BitLocker security tool to lock victims’ data and then ransom demands.
Ark Invest, led by well-known investor Cathie Wood, snagged the bid Tech stocks valued at $41.9 million— including shares of Roku and Zoom — during Tuesday’s market slump and doubled the company’s biggest bets during the downturn. More: The stock market edged higher on Wednesday as better-than-expected wholesale inflation data cut through the noise of a plunging plunge for markets the previous day.
Today’s must read
How rich is King Charles III? Inside the new monarch’s Outrageous Fortune
As the new head of The Firm, Charles now manages around $42 billion in assets and inherited $500 million from Queen Elizabeth, including her castles, jewellery, art collection and horse farm – all tax-free.
In case you missed it
An influx of employers willingly plans Share salary ranges for open positions publicly thanks to a number of local and state laws in places like California, New York City, Colorado and the state of Washington that mandate disclosure. Rising expectations of pay transparency are fueling practices aimed at leveling the playing field for workers and promoting pay equity, particularly for workers in national or multinational companies that currently follow a patchwork of policies.
Tips you can trust
- Bitcoin has long been a driving force in the cryptocurrency industry, with a market cap that hit $1.2 trillion last year before leveling off again at $400 billion. Its stronghold in the sector could be shaken in the coming years as some traders predict that competitor Ethereum will overtake its value for the first time an upheaval known as “flippening”. This is what it looks like for investors.
- Apple causes a stir with this forthcoming launch of the iPhone 14 line, pre-orders are already underway. The tech giant touts features like long-lasting battery life, an improved camera and an emergency SOS feature that uses satellites. Here’s a look at seven other features of the Pro and Pro Max versions that you probably haven’t heard of.
Must watch video
Tips from the CEO of Indiegogo for successful crowdfunding
After years of a “roller coaster ride” for crowdfunding, the practice revived during Covid-19 as many reassessed their lives and decided to become entrepreneurs, says Becky Center, who runs the pioneering crowdfunding platform. Center’s pro tips for a successful campaign include letting your ideas flow with passion, updating investors regularly, keeping your branding sharp, and more.
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