By Joseph Chalfant Robinhood is required to pay $70 million in fines to the Financial Industrial Regulatory Authority (FINRA), the largest amount ever handed down by the regulator. The company is required to pay out a fine of $57 million and $12.6 million in restitution to customers who incurred damages during the outages of March 2020. Robinhood [...]
By Joseph Chalfant The National Highway Traffic Safety Administration (NHTSA) ordered automakers to report accidents involving vehicles with fully or partially automated driving technology. The standing general order requires manufacturers or companies using automated vehicles to report incidents in which fully automated driving or driver-assist programs were activated immediately before a crash began. The agency believes that [...]
By Joseph Chalfant Nvidia’s acquisition of the UK chip manufacturer Arm has finally received industry support. After the plan was announced in September of 2020, regulatory agencies and competitors lodged complaints that Nvidia’s purchase would enable the company to limit the supply of chips and raise prices. Google, Microsoft, and Qualcomm are some of the companies that [...]
By Joseph Chalfant Walmart will begin to sell lower-priced insulin for customers who are struggling to afford it. The company will begin selling the first-ever private brand of analog insulin, ReliOn NovoLog, to customers this week in Walmart pharmacies. Sales will also start at the membership-based Sam's Club in mid-July. According to a statement by [...]
By Joseph Chalfant Johnson & Johnson has settled with New York State for $230 million for its involvement in the opioid epidemic. The settlement terms stipulate that the company can no longer sell opioids nationwide and must pay out $33 million in legal fees. The settlement ends just one of over 3,000 lawsuits between government and tribal [...]
By Joseph Chalfant The popular payment app Venmo is changing its policies on fees for business and personal transactions conducted on the platform. The company decided to allow users to engage in business transactions for a small fee. Previously, users who used their personal accounts for business purposes would have their accounts suspended. In a [...]
By Joseph Chalfant Google announced that it will delay plans to remove cookies from its browser until the end of 2023. The company originally planned to eliminate third-party tracking by early 2022. Google said more time is needed for the web industry to prepare for the switch, according to the Wall Street Journal. Google claimed that it [...]
By Joseph Chalfant Country-wide worker shortages have forced employers to come up with unique solutions to meet their needs. Food and restaurant supply wholesalers have begun hiring out-of-state truckers to fill the employee vacuum left by the pandemic. In New York, Chef’s Warehouse, a billion-dollar supplier for the restaurant industry, is renting out hotel rooms for drivers [...]
By Joseph Chalfant Digital media company Buzzfeed announced plans to go public through a merger with a special purpose acquisition company (SPAC). The deal with 890 Fifth Avenue Partners has an expected valuation of $1.5 billion. The move would enable the company to acquire competitors in the pop culture sphere, and its first purchase is [...]
By Joseph Chalfant A new poll found that voters are increasingly in favor of regulating the tech industry. The Morning Consult poll of 1,995 voters across the country found that 53% of voters would support a bill to regulate tech giants like Amazon, Apple, Facebook, and Google. However, 44% of participants ranked tech regulation as the least [...]
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