It was one of the most highly anticipated collections on the third day of Fashion Week, which focuses on the spring-summer 2024 period. Their show took place in the austere surroundings of the Prada Foundation, setting the scene...

China's annual "Singles Day" sales bonanza wraps up at midnight on Saturday, but consumers this year appear largely unswayed by its flashy deals and discounts...

Elon Musk’s X Corp., giving bankers an update on efforts to reinvigorate growth, said that it’s testing three

Monthly Swiss watch exports to the US declined for the first time in more than two years signaling

(Reuters) -Former Canadian fashion mogul Peter Nygard was found guilty of four counts of sexual assault by a Toronto jury

By Divya Rajagopal TORONTO As Glencore prepares for a long grind to convince Canada of the virtues of

Google and the US Justice Department are beginning what might be the most decisive tech trial in a generation. The lawsuit could have substantial consequences – not only for the search giant, but for its rivals such as Apple and Meta, and the technology industry more broadly. The antitrust trial will examine claims from critics that Google has unfairly used its power to become dominant in a variety of parts of technology, in particular its search engine. The United States will argue Google didn’t play by the rules in its efforts to dominate online search in a trial seen as a battle for the soul of the Internet. The US Justice Department is expected to detail how Google paid billions of dollars annually to device makers like Apple, wireless companies like AT&T and browser makers like Mozilla to keep Google‘s search engine atop the leader board. DuckDuckGo has also complained, for example, that removing Google as the default search engine on a device and replacing it with DuckDuckGo takes too many steps, helping keep them to a measly 2.3% market share. DuckDuckGo, Microsoft and Yahoo are among a long list of Google competitors who will be watching the trial closely. “Google makes it unduly difficult to use DuckDuckGo by default. We’re glad this issue is finally going to have its day in court,” said DuckDuckGo spokesman Kamyl Bazbaz who said thatGoogle had a “stranglehold on major distribution points for more than a decade.” Google has denied wrongdoing and is prepared to vigorously defend itself. The legal fight has huge implications for Big Tech, which has been accused of buying or strangling small competitors but has insulated itself against many accusations of breaking antitrust law because the services the companies provide to users are free, as in the case of Alphabet’s Google and Facebook, or low price, as in the case of Amazon.com. “It would be difficult to overstate the importance of this case, particularly for monopolies and companies with significant market share,” antitrust lawyer Luke Hasskamp told Reuters. “This will be a major case, particularly for the major tech companies of the world (Google, Apple, Twitter, and others), which have grown to have an outsized role in nearly all our lives,” he added. Previous antitrust trials of similar importance include Microsoft, filed in 1998, and AT&T, filed in 1974. The AT&T breakup in 1982 is credited with paving the way for the modern cell phone industry while the fight with Microsoft is credited with opening space for Google and others on the internet. Congress tried to rein in Big Tech last year but largely missed. It considered bills to check the market power of the companies, like legislation to prevent them from preferencing their own products, but failed to pass the most aggressive of them. Big Tech’s rivals now pin their hope on Judge Amit Mehta, who was nominated by former President Barack Obama to the U.S. District Court for the District of Columbia. The lawsuit that goes to trial was brought by former President Donald Trump’s Justice Department. In a rare show of bipartisan agreement, President Joe Biden’s Justice Department has pressed on with the lawsuit and filed a second one against Google in January focused on advertising technology. Judge Mehta will decide if Google has broken antitrust law in this first trial, and, if so, what should be done. The government has asked the judge to order Google to stop any illegal activity but also urged “structural relief as needed,” raising the possibility that the tech giant could be ordered broken up. The government’s strongest arguments are those against Google‘s revenue sharing agreements with Android makers, which requires Google to be the only search on the smartphone in exchange for a percentage of search advertising revenue, said Daniel McCuaig, a partner at Cohen Milstein who was formerly with the U.S. Justice Department’s Antitrust Division. Additional reporting by Reuters Read More AI can help generate synthetic viruses and spark pandemics, warns ex-Google executive Google boss says he wants to make people ‘shrug’ How Google reshaped the world – and is about to do it all over again AI is using vast amounts of water Elon Musk says monkeys implanted with Neuralink brain chips were ‘close to death’ Volcano discovery could power electric cars for decades, scientists say

Walt Disney Co. appointed Morgan Stanley Chief James P. Gorman and veteran media executive Jeremy Darroch to its

MIAMI--(BUSINESS WIRE)--Sep 28, 2023--

Disgraced Theranos founder Elizabeth Holmes is about to begin her 11-year prison sentence after being found guilty of defrauding investors, including media mogul Rupert Murdoch, over fake claims about the company’s blood-testing capabilities. As well as being handed jail time over her role in misleading investors, Holmes was also ordered to pay $452m in restitution. Follow the latest updates live “This is a fraud case where an exciting venture went forward with great expectations and hope, only to be dashed by untruth, misrepresentations, hubris, and plain lies,” Judge Davila, presiding over the case, said before handing down the prison sentence to Holmes. “I suppose we step back and we look at this, and we think, what is the pathology of fraud? Is it the inability or the refusal to accept responsibility or express contrition in any way? Now, perhaps that is the cautionary tale that will go forward from this case.” Ahead of being sentenced, Holmes, who has long maintained she did not intend to defraud anyone, told the court: “I am devastated by my failings. “Every day for the past years I have felt deep pain for what people went through because I failed them. I regret my failings with every cell of my body.” Where will Holmes serve her sentence Holmes, who requested 18 months of house arrest as a punishment, will begin her sentence at Federal Prison Camp Bryan in Texas – an all-female facility 100 miles from Holmes’ hometown. The minimum security prison houses around 500 inmates, and runs a variety of programmes intended to prepare prisoners for life after incarceration, according to Camp Bryan’s handbook. Holmes’ day will begin at 6am, when inmates are woken up for meals and work; people failing to comply with the strict wakeup rules are subject to punishments. Inmates are then counted at five different times during the day, when they must assemble in specific areas (once again, punishments are doled out to those who are not present at these times). The prison features a study, game room, and work programmes that see all inmates take part in a six-week course on the importance of efficiency in the workplace before they are placed into a role – with some prisoners earning as little as $0.12 in some assignments. According to the handbook, “All designated inmates are required to develop a financial plan to meet their financial obligations”, which for Holmes will mean reparations of $452m. How will Holmes keep in touch with her family? Holmes is married to Billy Evans, and the pair have two children, William, 2, and newborn Invicta. She lives around 100 miles from her family, who will be permitted to visit at weekends. Inmates at Camp Bryan are also permitted to take part in video sessions with their friends and family, according to the handbook, as well as to send and receive text messages. Prior to beginning her sentence at Camp Bryan, Holmes spent the weekend with her husband and children at the beach.

TORONTO--(BUSINESS WIRE)--Nov 30, 2023--

NEW YORK--(BUSINESS WIRE)--Oct 17, 2023--