Technology News

Facebook to book advertising revenue locally amid political pressure

BRUSSELS (Reuters) - Social media giant Facebook said on Tuesday it would start booking advertising revenue locally instead of re-routing it via its international headquarters in Dublin although the move is unlikely to result in it paying much more tax. Corporate taxation has become a hot-button topic in the wake of revelations of tax avoidance schemes by multinationals which have led to calls for companies to pay mo...

12 Dec 3:03 PM 0 Read More...

Bitcoin slips to around $16,300, futures volumes drop

SINGAPORE (Reuters) - Virtual currency bitcoin dipped slightly from the previous session’s record highs on Tuesday, after a month of whirlwind and volatile gains leading up to the launch of bitcoin futures on the weekend. Bitcoin was quoted at $16,390 on the Luxembourg-based Bitstamp exchange, down half a percent or $80 from its previous close. The world’s biggest and best-known cryptocurrency hit a record high o...

12 Dec 8:27 AM 0 Read More...

Bitcoin futures suggest breakneck rise in price to slow

NEW YORK/LONDON (Reuters) - Newly launched bitcoin futures on Monday suggested that traders expect the cryptocurrency’s blistering price gains to slow in the coming months, even as it blasted above $17,000 to a fresh record high in the spot market. Chicago-based derivatives exchange Cboe Global Markets (CBOE.O) launched the futures late on Sunday, marking the first time investors could get exposure to the bitcoin ...

11 Dec 10:31 PM 0 Read More...

Cutting U.S. electric vehicle tax credit 'will have an impact': GM

DETROIT (Reuters) - If Congress eliminates an electric vehicle tax credit it “will have an impact” on sales of U.S. electric vehicles such as General Motors Co’s Chevrolet Bolt, GM Chief Executive Mary Barra said on Monday. The House version of a bill that would cut corporate tax rates calls for eliminating a tax credit of up to $7,500 for purchasers of electric vehicles. Auto industry and environmental groups ...

11 Dec 10:23 PM 0 Read More...

U.S. agency prepares to hand over internet oversight to FTC

WASHINGTON (Reuters) - The U.S. Federal Communications Commission plans to turn over oversight of internet service providers to another federal agency as it plans to vote on Thursday to revoke the landmark 2015 “net neutrality” rules. FCC Chairman Ajit Pai last month unveiled plans to repeal the rules that prohibit internet service providers from impeding consumer access to web content. The 2015 rules bar broadba...

11 Dec 9:59 PM 0 Read More...

Apple removes app after MyEtherWallet complaint

(Reuters) - IPhone maker Apple Inc said on Monday it had removed a paid iOS application from its App Store after MyEtherWallet, a free service for storing digital currencies, complained that the program was improperly using its name. “This is NOT US,” MyEtherWallet said on Sunday from its official Twitter account. The statement was a response to a tweet by someone identified as @ChrisLundkvist, who posted an imag...

11 Dec 7:25 PM 0 Read More...

SEC halts initial coin offering from restaurant review app

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission has stepped in to stop an “initial coin offering” (ICO) from a restaurant review app, after the company failed to register it as a security. Privately-held Munchee Inc agreed to halt its offering and refund investor proceeds after the SEC contacted the company on Nov.1, the regulator said on Monday. The use of ICOs, which rely on cryptocurrencies ...

11 Dec 6:35 PM 0 Read More...

Canada's privacy watchdog launches probe into Uber hack

TORONTO (Reuters) - The office of Canada’s privacy commissioner said on Monday that it has opened a formal investigation into the 2016 breach of customer and driver data at Uber Technologies Inc, which the ride-hailing company disclosed last month. “We have now opened a formal investigation,” spokeswoman Tobi Cohen said in an email. She declined to elaborate, citing Canadian privacy laws. Reporting by Alastair ...

11 Dec 6:18 PM 0 Read More...

Hackers hit U.S., Russian banks in ATM robbery scam: report

FRANKFURT (Reuters) - A previously undetected group of Russian-language hackers silently stole nearly $10 million from at least 18 mostly U.S. and Russian banks in recent years by targeting interbank transfer systems, a Moscow-based security firm said on Monday. Group-IB warned that the attacks, which began 18 months ago and allow money to be stolen from banks’ automated teller machines (ATMs), appear to be ongoing...

11 Dec 6:06 PM 0 Read More...

Newly minted bitcoin futures indicate more modest growth ahead

NEW YORK/SYDNEY/LONDON (Reuters) - Newly launched bitcoin futures indicated on Monday that financial markets expect the cryptocurrency to climb further but at a far slower rate than in recent weeks as warnings of a bubble grew. Chicago-based derivatives exchange Cboe Global Markets (CBOE.O) launched its eagerly anticipated bitcoin futures late on Sunday, marking the first time investors could get exposure to the mar...

11 Dec 6:04 PM 0 Read More...