Bitcoin (BTC / USD), Ethereum (ETH / USD) – Best Financial Stories Wednesday, Sept. 14: Multiple Antitrust Setbacks for Google, Bitcoin Crashes, Visa Finds New Arms Control System Ineffective, and More …

Reuters

The parent of Google and Facebook fined millions of dollars from South Korea for violations of the privacy law

  • South Korea has imposed millions of dollars in fines Alphabet Inc GOOG GOOGL Google And Meta Platforms Inc HALF following allegations of violation of the privacy law.
  • The Commission for the Protection of Personal Information claimed to have fined Google for 69.2 billion won ($ 50 million) and Meta for 30.8 billion won ($ 22 million).

Supply of COVID-19 vaccines in China? Moderna’s CEO says the capacity is available

  • Moderna Inc MRNA CEO Stephane Bancel said the company talked to the Chinese government about providing COVID-19 vaccines, but no decision has been made.
  • “We are open. We have the capacity,” Bancel said, but declined to say whether Moderna had submitted its vaccine for approval in the country.

The interim CEO of Bed Bath & Beyond will remain in office for at least one year

  • Bed Bath & Beyond Inc BBY Interim Chief Executive Officer Sue Gove is likely to remain in office for at least twelve months.
  • The report notes that the retailer will not choose a new leader until 2023, citing two sources familiar with the matter.
  • Gove was named interim CEO in June, replacing Mark Tritton, following a drop in sales.

Bloomberg

Visa believes the new gun control system is ineffective for controlling mass shootings

  • Visa Inc V. he warned against the new system that gun control advocates considered limiting mass shootings.
  • The International Organization for Standardization has approved a new merchant class code that banks will use when processing transactions for arms and ammunition stores. The MCC will likely help banks report suspicious activity at these retailers.
  • However, Visa found that MCC does not have access to data showing which products consumers are buying.

After investor Flak, German healthcare giant Bayer begins the hunt for the new CEO

  • Bayer AG BAY began the hunt for CEO Werner Baumann’s successor.
  • The search for the new CEO could portend an early departure for Baumann, whose contract with Bayer will not expire until April 2024.
  • Bayer chairman Norbert Winkeljohann is examining prospects inside and outside the company to advance a new CEO candidate in time for Bayer’s next shareholder meeting in April 2023.

Tencent Music pushes the Hong Kong listing as soon as next week

  • Music entertainment group Tencent TME is working with advisors on preparations for its second Hong Kong listing, with plans to start trading next week.
  • The company said marketing activities could start as early as the next few days.

CNBC

Warner Bros Discovery embraces more aggression, including price hikes as Netflix goes on a push for austerity

  • Warner Bros. Discovery, Inc WBD CFO Gunnar Wiedenfels voiced the possibility of increasing the prices of streaming services given the strength of content on services.
  • Wiedenfels acknowledged that prioritizing profitability over growth allows him greater “pricing power” over his streaming businesses.
  • The most expensive streaming service Netflix, Inc NFLX, reduced its real estate footprint, controlled cloud computing costs, and hired younger staff to beat the slowdown in subscribers. Netflix also tries to limit heavy spending on movies and TV shows.

Wall Street newspaper

The brewing competition forces Paramount to join the club’s Showtime streaming service with Paramount +

  • Supreme Global PARA evaluated discontinuing its Showtime streaming service and moving its content to Paramount +.
  • Showtime’s $ 10.99 / month service includes premium channel programming, including “Billions” and “Yellowjackets”.
  • Competition from Netflix Inc NFLX And Amazon.com Inc AMZN newcomers like NBCUniversal’s Peacock and Paramount + weighed in on smaller streaming services like Showtime.

Amazon awaits another union election in October pushing for better wages and security measures

  • Amazon.com Inc AMZN prepared for another union election in October at its New York State facility near Albany.
  • A group of workers affiliated with the Amazon Labor Union filed for election in August following a successful union offer in April at the Staten Island facility.
  • Union supporters at Amazon’s ALB1 facility sought higher wages and better security measures at the facility.
  • Federal prosecutors inspected some Amazon warehouses following criticism of the treatment of warehouse and delivery employees.

Nikkei Asia

Apple will use the latest TSMC technology on iPhones and Macs next year, first in the industry

  • the Apple company AAPL will likely be the first company to use an updated version of Taiwan Semiconductor Manufacturing Co. Ltd TSM the latest chip manufacturing technology next year, while also planning to adopt it for some of its iPhones and Mac computers.
  • by TSMC N3E chip making the technology will be used for mass production A17 mobile processor, currently, in development, the report says. He said it will be used in the premium entry in the iPhone line-up set for version 2023.

Benzinga

Coinbase Solves “Failed Trades” Problem After Outage Amid Crypto Crash Angers Users

  • Coinbase Global Inc CURRENCY he said he has now completely solved the problem of failing operations on his platform.
  • Several Coinbase users reported that simple exchanges on the cryptocurrency exchange were not being processed on Tuesday. Some users have also claimed that they cannot withdraw their cryptocurrencies from the platform.
  • In a Twitter update, Coinbase support acknowledged the problem of some operations that “fail intermittently” and said their team had already implemented a solution. In a follow-up tweet, the exchange announced that the problem had been resolved.

Google suffers another EU setback as Supreme Court rejects request to overturn $ 4.3 billion domain abuse penalty

  • Alphabet Inc GOOG GOOGL Google suffered its second setback in Europe in less than a year as the of European Union On Wednesday the supreme court agreed with the blockade’s antitrust regulators.
  • Google lost its battle to overturn a historic € 4.3 billion ($ 4.3 billion) fine imposed by antitrust on the tech giant after the Court agreed that the company had abused its dominant position. However, he reduced the fine by 5% due to a disagreement on one point.

Bitcoin, Ethereum and Dogecoin crash after “burning” inflation data: analyst says “writing was on the chart”

  • Bitcoin (BTC / USD) e Ethereum (ETH / USD) was trading sharply lower on Tuesday night as the global cryptocurrency market cap plunged 7.5% to $ 986.4 billion at 8:26 pm EDT.
  • Major cryptocurrencies fell after the United States Department of Labor released its August inflation numbers, which indicated that the consumer price index rose 8.3% yoy.
  • While inflation has cooled from the 8.5% increase in July, it was above 8% of economists’ average estimates.

Is Elon Musk no longer on Twitter? No, here’s what really happened

  • If you can’t find Tesla Inc TSLA The CEO on Twitter on Tuesday because he had changed his handle on “Naughtius Maximus.”
  • Musk apparently made the change a few minutes later Twitter Inc TWTR shareholders approved a $ 44 billion acquisition deal.
  • Musk said on Tuesday that his tweets “have been suppressed” and asked for a correction from Twitter, the Twitter Verified handle and the CEO of the social media platform. Parag Agrawal.

Amazon places an emphasis on the safety of delivery drivers

  • Amazon.com Inc AMZN seeks to increase pay and benefits for its delivery partners as it prepares for the peak holiday season in a persistently tense job market.
  • Amazon will invest $ 450 million to fund pay rises and other benefits for delivery drivers employed by members of its delivery service partner network.
  • It started the program in 2018. Amazon has invested over $ 7 billion in its Delivery Service Partners network since 2018.

Chrysler to finish production of the iconic 300 model – commemorates the 70-year legacy

  • Stellantis NV STLA brand Chrysler will finish its famous 300 sedans after its limited edition version.
  • The The 2023 Chrysler 300C, powered by the 6.4-liter HEMI engine, will commemorate the nearly 70-year legacy of the Chrysler 300.
  • Only 2,000 Chrysler 300C vehicles from 2023 will be produced for the United States
  • Production of the Chrysler 300 will end after model year 2023.

Weyerhaeuser Union members strike in Oregon and Washington

  • Weyerhaeuser Co WY said its operations in Oregon and Washington were affected by the work stoppage by its union members.
  • The company has 1,200 employees who are members of the International Association of Machinists and Aerospace Workers.
  • The company noted that the IAM strikes impact multiple Wood Products and Timberlands sites.

Image by Okan Caliskan from Pixabay

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