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Uber pays $20 million to settle claims of duping drivers
The FTC alleged that most Uber drivers were earning far less in 18 major US cities than Uber published online. Regulators also asserted that drivers wound up paying substantially more to lease cars than the company had claimed. As part of its recruitment efforts, Uber has floated enticing estimates about how much drivers can make picking up passengers in densely populated cities. In August 2015, Uber revised its statement to specify its estimates reflected drivers' potential incomes in those two cities.
Apple files $1 billion lawsuit against chip supplier Qualcomm
Apple Inc filed a $1 billion lawsuit against supplier Qualcomm Inc on Friday, days after the US government filed a lawsuit that accused the chip maker of resorting to anticompetitive tactics to maintain a monopoly over a key semiconductor in mobile phones. Qualcomm is a major supplier to both Apple and Samsung Electronics Co Ltd for modem chips that help phones connect to wireless networks.
Firm believes it can tap the potential of geothermal energy
The fledgling firm would use carbon dioxide emissions - a nemesis to the planet - to power a geothermal energy system, which would in turn produce low-cost, clean electricity. TerraCOH's patented geothermal technology could serve as a big underground battery, effectively storing renewable - but intermittent - wind and solar energy. The pair, along with Thomas Kuehn, a mechanical engineering professor, invented a renewable energy technology called CO2 Plume Geothermal.
Apple sues chipmaker Qualcomm for abusing monopoly
Apple on Friday sued Qualcomm, accusing the California chipmaker of abusing its market power to demand unfair royalties, echoing charges filed days earlier by US antitrust regulators. Apple said in the court filing that it has been overcharged billions of dollars by its chipmaking partner's illegal scheme. For many years Qualcomm has unfairly insisted on charging royalties for technologies they have nothing to do with, Apple said in an email statement.
Traders use algorithms that capture Trump's remarks and then buy or sell affected stocks
Some sophisticated traders with automated programs are using computer algorithms that instantly capture Trump's Twitter remarks and then immediately buy or sell the affected stocks, analysts said. They've done it, said Joe Gits, chief executive of Social Market Analytics Inc Gits' firm isn't among those traders. Gits likewise said he was not at liberty to disclose the names of traders using such automated programs.
Tesla avoids recall after Autopilot crash death
Tesla will not be ordered to recall its semi-autonomous cars in the US, following a fatal crash in May 2016. The US National Highway Traffic Safety Administration closed its investigation after it found no evidence of a defect in the vehicle. Joshua Brown was killed when his car collided with a lorry while operating in Autopilot mode. Tesla has stated Autopilot is only designed to assist drivers, who must keep their hands on the wheel.
Uber hires Google search veteran Singhal for senior engineering post
Ride-hailing company Uber Technologies Inc has hired the man behind Google search to work closely with Chief Executive Travis Kalanick and help grow the company's self-driving car programme. Amit Singhal announced on his personal blog on Friday that he will join Uber after 15 years at Alphabet Inc (GOOGL.O), where he led Google's search division. Singhal will take the post of senior vice president of engineering, and will act as an adviser to both Kalanick and Anthony Levandowski, who heads the Uber's self-driving efforts.
Tough times ahead! Oracle lawsuit portends legal woes for Indian IT companies like Infosys, TCS
For their part, Indian firms such as Infosys and TCS are bracing to deal with changing circumstances. The $150-billion Indian outsourcing industry has been a favourite punching bag of American politicians, of all hues, for over a decade. Indian IT companies like TCS and Infosys are no strangers to legal troubles in the US. Infosys also had to pay $34 million to end a federal investigation into visa fraud and errors in its hiring records.
Indian Broadcasting Foundation seeks 5% GST rate for television services
The Indian Broadcasting Foundation (IBF), the representative body of television broadcasters, has urged the government to categorize television services as a mass consumption service with a goods and services tax (GST) rate of 5% . In a statement, the foundation said that the sector is unprepared to take a tax hike under the new GST regime.
Facebook CEO Mark Zuckerberg Questioned at Trial Over Virtual-reality Technology
Facebook Inc chief executive Mark Zuckerberg took the witness stand in Dallas federal court on Tuesday and denied an allegation by a rival company that the virtual-reality technology of Facebook's Oculus unit was stolen. ZeniMax said that Oculus unlawfully used its intellectual property to develop the virtual-reality system that includes the Rift headset. During one heated exchange with ZeniMax lawyer Tony Sammi, Zuckerberg told a jury in the crowded courtroom that the technology was not even fully formed when Facebook bought it.
Google search icon Amit Singhal drives into Uber
Almost a year after he retired as head of Google Search, Amit Singhal has joined Uber as senior Vice President of engineering. Singhal was earlier a senior vice president and software engineer at Google Inc., a Google Fellow, and was the head of Google's core ranking team. In a blog post on his personal website, Singhal described the opportunity as exciting or potentially world-changing.
Canada's Competition Bureau reaches deal with Apple, publishers
The Competition Bureau's investigation found that an arrangement between the publishers and Apple led to higher prices for Canadians. The US Supreme Court last year declined to hear Apple's challenge to a court decision that it conspired with five publishers to increase e-book prices.

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