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The UK Competition and Markets Authority (CMA) said Friday that its formal inquiry, which builds on a preliminary probe launched last May, could force Amazon (AMZN) and Google (GOOGL) to change the way they deal with fake reviews or result in court action. “Our worry is that millions of online shoppers could be misled by reading fake reviews and then spending their money based on those recommendations,” CMA chief executive Andrea Coscelli said in a statement. “Equally, it’s simply not fair if… Source link

Harley Finkelstein is looking to future-proof fashion and retail. If that sounds like a big job, it is. But he’s backing up the ambition with the sprawling and technologically savvy platform Shopify. More from WWD With Finkelstein as president, Shopify has helped shift the landscape in fashion and grown rapidly, providing e-commerce services to a range of companies, but especially championing smaller independent businesses. Last year, the platform powered sales with a gross merchandise… Source link

Google Fi’s VPN service has started rolling out to subscribers on iPhone, the company has announced. The feature, which routes your phone’s internet traffic through an encrypted connection to protect your privacy, has been available on Android since launching in beta in November 2018. The launch comes a little later than Google’s previously announced “spring” release date, but it’s close. In a followup tweet Google says not all iPhone users will have access to the feature… Source link

The Central American country plans to use bitcoin as a parallel legal tender alongside the US dollar, which has also been touted as a remittance currency for Salvadorans overseas. Photo: Jose Cabezas/Reuters The price of Bitcoin (BTC-USD) rose for a third consecutive day on Friday after El Salvador revealed that it would officiate the cryptocurrency as legal tender on 7 September. The Central American country plans to use bitcoin as a parallel legal tender alongside the US dollar, which has… Source link

This includes where the same users “have reviewed the same range of products or businesses at similar times to each other and there is no connection between those products or businesses or where the review suggests that the reviewer has received a payment or other incentive to write a positive review”. Source link

The Amazon logo displayed on a smartphone and a PC screen. Pavlo Gonchar | LightRocket via Getty Images LONDON — Britain’s competition regulator on Friday launched a formal probe into Amazon and Google over concerns they haven’t done enough to tackle fake reviews. “We are investigating concerns that Amazon and Google have not been doing enough to prevent or remove fake reviews to protect customers and honest businesses,” Andrea Coscelli, chief executive of the CMA, said in a statement. “It’s… Source link

Former vice president Mike Pence said he would remain “proud” that he and members of Congress completed the certification of the Electoral College results, in remarks at the Reagan Library on Thursday evening. In a wide-ranging speech, Pence urged Republicans to continue the policies of former president Donald Trump alongside more traditional conservative priorities. Pence said that “under President Trump’s leadership we were able to achieve things Republicans have been talking about… Source link

The stock markets are responding to conflicting signals lately, and the result is concurrent trends of volatility and gains that have been causing some confusion. Inflation has ticked up in recent months, as pent-up demand now let loose by the economic reopening is crossing limited supply and still-disrupted distribution chains. But there’s a strong feeling that the inflation is transitory, and that as people get back to work the inflationary trends will be pushed back by improved… Source link

By Sam Nussey and Shinji Kitamura TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday. The sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth. Panasonic’s battery business is dominated by Elon Musk’s Tesla, but the two firms have had a tense relationship at… Source link

Elon Musk, one of the most divisive characters in Silicon Valley, saw his net worth explode by over $100 billion in 2020 alone, setting records in wealth accumulation… And that’s largely thanks to the dramatic rise of the electric vehicle trend that has taken Wall Street by storm. Tesla (NASDAQ:TSLA) saw its share price skyrocket by over 600% last year…with the EV giant surging past some of the United States’ most influential companies, including Visa, JP Morgan, and Walmart. Its market… Source link