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With inflation at a near 40-year high, the biggest corporations are cashing in “on the backs of the American people,” by crimping competition and raising prices, said Senator Mark Kelly (D, AZ). In Kelly’s home state of Arizona, its largest cities saw cost pressures outpace the national average last year, with inflation rising 9.7% last year in the Phoenix metro area, compared to 7%, according to data from the Bureau of Labor Statistics. “We’re at full employment [in Arizona] right now …… Source link

Attorneys general in Washington, D.C., Texas, Indiana and Washington state are suing Google for allegedly deceiving consumers to obtain their location data. Driving the news: The lawsuit alleges that Google uses “dark patterns, including repeated nudging, misleading pressure tactics, and evasive and deceptive descriptions of location features and settings, to cause users to provide more and more location data (inadvertently or out of frustration).” Our thought bubble, via Axios’ Ashley Gold:… Source link

Alphabet CEO Sundar Pichai gestures during a session at the World Economic Forum (WEF) annual meeting in Davos, on January 22, 2020. FABRICE COFFRINI | AFP | Getty Images Four attorneys general are suing Google for allegedly misleading users about when the company was able to track their location. The bipartisan group of attorneys general from the District of Columbia, Indiana, Texas and Washington allege in separate lawsuits filed Monday that Google deceived users from at least 2014 to 2019 by… Source link

Stocks renewed declines Monday as investors looked ahead to a busy week of corporate earnings results, economic data and a Federal Reserve monetary policy-setting meeting after an already volatile stretch of trading. The S&P 500 and Nasdaq each dropped more than 2%, while the Dow fell by more than 1.5%. During intraday trading, the S&P 500 was off by more than 10% from its record closing high from Jan. 3, putting it on track to enter a correction. And the Nasdaq Composite fell further into a… Source link

The company and law firm names shown above are generated automatically based on the text of the article. We are improving this feature as we continue to test and develop in beta. We welcome feedback, which you can provide using the feedback tab on the right of the page. WASHINGTON, Jan 24 (Reuters) – Washington, D.C., Attorney General Karl Racine sued Google (GOOGL.O) on Monday over what he called deceptive location tracking practices that invade users’ privacy. Three other state attorneys… Source link

El Salvador President Nayib Bukele during the Latin Bitcoin conference on November 20, 2021.Marvin Recinos/AFP via Getty Images El Salvador has bought 410 bitcoin for $15 million, the country’s President Nayib Bukele tweeted Friday. “Some guys are selling really cheap,” he wrote, as crypto continued to sell off. Bitcoin has plummeted over the last week and is down almost 50% from its November record high. El Salvador purchased 410 bitcoin worth $15 million as the cryptocurrency’s price plunged,… Source link

After a series of major execution missteps, Peloton (PTON) has a new activist investor knocking down its doors.  In a scathing new letter released on Monday, activist Blackwells Capital — which reportedly has amassed a less than 5% stake in the company — demanded Chairman, founder and CEO John Foley be immediately fired.  “Mr. Foley must be held accountable for his repeated failures to effectively lead Peloton,” Blackwells chief investment officer Jason Aintabi wrote in the letter…. Source link

Reports over the weekend suggest that US President Biden is going to introduce an Executive Order for cryptocurrencies at the beginning of February. The order is expected to span across government and plans to weigh-up the benefits and disadvantages of digital assets, alongside implementing a reporting system for government on cryptocurrencies. Officials are yet to confirm the rumour. What has been confirmed is that there have been several top-level meetings with senior figures at the White… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, January 24, 2022 Memo to investors: Don’t buy flaming piles of garbage right now.  Those flaming piles of garbage could be the five software stocks (of companies losing money and valued at 85 times forward earnings) on your watchlist that have on average lost 25% in the past four weeks as a result of Federal Reserve rate hike fears (and… Source link

In 1998, a computer science PhD student called Larry Page submitted a patent for internet search based on an obscure piece of mathematics. The method, known today as PageRank, allowed the most relevant webpages to be found much more rapidly and accurately than ever before. The patent, initially owned by Stanford, was sold in 2005 for shares that are today worth more than $1bn. Page’s company, Google, has a net worth of well over $1tr. It wasn’t Page, or Google’s cofounder Sergey Brin,… Source link