SEC fines Block.one $24 million for unregistered ICO worth billions

Blockchain technology company Block.one has been fined $24 million by the Securities and Exchange Commission (SEC) for running an unregistered ICO (initial coin offering). According to the SEC, the company conducted the ICO between June 2017 and June...

AMD cuts silicon wafer order by three quarters, gets a nasty fine

AMD cuts silicon wafer orders by three quarters, gets billed for almost the full amount anyway

If you're in need of a concrete example of how the chip-making industry is trickier than ever, and how it rewards scale at the expense of flexibility, then please, look no further. AMD has just significantly reduced its order for silicon wafers from its old mate Globalfoundries, in an effort to avoid the inventory surpluses and write-downs that have recently plagued its balance sheet. Instead of buying the originally agreed $500 million-worth of cake trays this quarter, it's now committed to spending just $115 million. Except it was never, ever gonna be that simple. In lieu of reneging on its contract at short notice, AMD will have to pay Globalfoundries a $320 million penalty on top, bringing the final cost of the deal to just $65 million less than what it would have paid for the full order.

On the plus side, of course, that's still a major saving for a company which is going through an intense rough patch (to say the least) and trying to cling to every dime. Besides, AMD managed to get out of paying the fee as a lump sum, while also reducing its obligations for 2013 and agreeing to pay Globalfoundries less for R&D once it shifts to a more standard 28nm process -- so it can't entirely have run out of clout.

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Via: HotHardware

Google to pay $22.5 million to settle FTC charges over tracking cookies in Apple’s Safari browser

Google to pay $225 million to settle FTC charges over tracking cookies in Apple's Safari browser

Google has agreed to pay a $22.5 million penalty to settle its dispute with the FTC, over the company's role in bypassing browser settings in Apple's Safari web browser. Although it stated that it wouldn't use tracking cookies or targeted ads in the web browser, a loophole was discovered, violating a previous privacy settlement between the FTC and Google. According to the commission, the company exploited an exception in the browser's default settings, adding a temporary cookie that could temporarily open up access to all cookies from the DoubleClick domain. While the exploit was patched by Google, for a limited time, it was able to track Safari users that had explicitly opted out. The FTC's full statement is right after the break.

Continue reading Google to pay $22.5 million to settle FTC charges over tracking cookies in Apple's Safari browser

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Google to pay $22.5 million to settle FTC charges over tracking cookies in Apple's Safari browser originally appeared on Engadget on Thu, 09 Aug 2012 11:11:00 EDT. Please see our terms for use of feeds.

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AUO, LG, Toshiba pay $571 million to settle LCD price fixing lawsuit, broken record keeps skipping

AU Optronics 71-inch 3D LCD

The way LCD price fixing lawsuits keep popping up and settling in short order, you'd think they were going out of style. The latest motley group to face a reckoning includes AU Optronics, LG and Toshiba, the combination of which has agreed to pay a total of $571 million to eight separate American states to either avoid the the legal wrath of a class action lawsuit or to pay an outstanding fine. Allegedly, the trio kept LCD prices artificially high between 1996 and 2006, hiking the prices of PCs and TVs in the process. There's a slight twist here: while keeping the display builders honest is the primary goal, the class action status will net some direct rewards for the public. Americans who claim to have been wronged in the scandal can get "at least" $25, which goes a lot further towards buying an LCD than it did six years ago.

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AUO, LG, Toshiba pay $571 million to settle LCD price fixing lawsuit, broken record keeps skipping originally appeared on Engadget on Thu, 12 Jul 2012 13:55:00 EDT. Please see our terms for use of feeds.

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Weibo services ‘punished’ for Beijing coup rumors, comments temporarily disabled

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For a country who doesn't really do April Fools' Day, you know China means business when it lays the smackdown on its weibo services. Here's the background story: about a week ago there was a rumor on the Chinese web about a military coup on one of the main streets in Beijing, and coincidentally I was in town around the time (for the Windows Phone launch). Funnily enough, I wasn't aware of this at all until my taxi driver in Hong Kong asked me about my visit, as he claimed that the passenger he picked up beforehand was actually a Chinese military officer who had several intense phone calls about said coup.

But of course, nothing actually happened. In fact, the guards at Tiananmen Square and the Forbidden City were pretty relaxed when I visited on that very day. As for the rumormongers, the Chinese government announced through Xinhua that 16 websites have been shut down and six people have been detained, while local microblogging platforms Sina Weibo and Tencent Weibo have been "criticized and punished accordingly," though it didn't elaborate on the details. All we know is that comments under each weibo post are now disabled until local time 8pm on April 3rd, during which these two companies can, in their own words, clean up the mess. Well, at least we now know where to draw the line for China's April Fools'.

Weibo services 'punished' for Beijing coup rumors, comments temporarily disabled originally appeared on Engadget on Sat, 31 Mar 2012 22:40:00 EDT. Please see our terms for use of feeds.

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