Fake reviews, forged certificates and stolen corporate identities being used to lure victims, KwikChex finds
Suspected scam investment companies are exploiting Trustpilot’s review system by giving themselves five-star ratings to persuade would-be investors that they are legitimate businesses, a report has warned.
An investigation by the verification firm KwikChex found operators using fake reviews, forged certificates and stolen corporate identities to lure victims.
Continue reading...Scrutiny of selling platforms grows as female users warning of harassment on sites after photos stolen and sexualised
Users of secondhand clothing websites such as Vinted are warning about the danger their images will be used against their will on pornography sites, and sounding the alarm about the spread of sexually charged harassment under their posts.
The potential for hijacking photos posted on the internet for real or faked erotic content has long been known, but victims and their advocates say culprits appear to have zeroed in on Vinted with targeted campaigns.
Continue reading...Ex-chancellor criticises hesitant approach to crypto and warns country in danger of missing next surge in market
The UK has been left behind in the cryptocurrency boom and is in danger of missing a second wave of demand, according to the former chancellor George Osborne.
Osborne, who has an advisory role at the crypto exchange firm Coinbase, said the country already missed out on the first generation of crypto because the formerly sceptical US had embraced digital currencies under Donald Trump.
Continue reading...Andrew Jassy tells white collar workers that such technology means fewer people will be needed for some jobs
The boss of Amazon has told white collar staff at the e-commerce company their jobs could be taken by artificial intelligence in the next few years.
Andrew Jassy told employees that AI agents – tools that carry out tasks autonomously – and generative AI systems such as chatbots would require fewer employees in certain areas.
Continue reading...CMA to decide whether deal will substantially lessen competition in delivery market
The UK’s competition watchdog has announced an investigation into the proposed merger of the delivery company Evri with DHL’s UK e-commerce business, a deal set to create one of the biggest parcel couriers in Britain.
The Competition and Markets Authority (CMA) said on Wednesday it was investigating Evri’s purchase of DHL eCommerce UK, as well as the parent company DHL Group’s acquisition of a minority stake in Evri.
Continue reading...Fast-fashion retailer struggling to gain go-ahead from Chinese regulators for UK listing
Shein is reportedly aiming to list on the Hong Kong stock exchange as the online fast-fashion retailer struggles to gain the go-ahead from Chinese regulators for a flotation in London.
The company, which was founded in China where the majority of its suppliers are based but now has its headquarters in Singapore, is aiming to file a draft prospectus with Hong Kong’s stock exchange in the coming weeks, according to Reuters.
Continue reading...Banks say every day 7,000 incidents take place where scammers get people to disclose unique set of numbers
Banks are reporting a surge in a type of fraud where customers are tricked into disclosing online login passcodes they are sent, which has helped to fuel a 22% jump in crimes where scammers go shopping using people’s stolen details.
The banking body UK Finance revealed that “remote purchase” fraud hit its highest-ever level in 2024, with almost 2.6m cases logged, which works out at more than 7,000 incidents a day, or almost five a minute.
Continue reading...Temu and Shein among fast-fashion sites affected by drop in first three months of this year but sales in rise to EU
Exports to the US from Chinese online shops such as Temu and Shein have plunged in the face of Donald Trump’s trade war, as shipping from China to the EU has increased.
Official Chinese data showed its total e-commerce shipping to the US dropped 65% by volume in the first three months of the year, but rose by 28% in Europe.
Continue reading...E-tailers also hiking prices after Donald Trump ends ‘de minimis’ exemption for cheap shipments from China and Hong Kong
Temu and Shein are cutting back their spending on US social media advertising as they lose an exemption on tariffs for many of their shipments from China and Hong Kong.
The online e-tailers, both of which ship low-priced China-made goods direct to US shoppers, had been on an ad spree until recently. But under an executive order from Donald Trump, as of 2 May their sales valued at under $800 will no longer be exempt from US tariffs.
Continue reading...Analysis finds Amazon, Meta, Alphabet, Netflix, Apple and Microsoft averaged 18.8%, compared with 29.7% US average
The big American tech firms known as the “Silicon Six” have been accused of paying almost $278bn (£211bn) less corporate income tax in the past decade compared with the statutory rate for US companies making the same profits.
Amazon, Meta, Alphabet, Netflix, Apple and Microsoft generated $11tn of revenue and $2.5tn of profits over the past 10 years.
Continue reading...Illegal practices included use of bots to hoard tickets for attraction in Rome for resale at inflated prices
An Italian ticketing company and six tour operators have been fined almost €20m (£17m) for illegal practices that made it difficult for regular visitors to access Rome’s Colosseum at the standard cost.
Italy’s antitrust authority, AGCM, said the practices, including using software bots to hoard tickets and resell them at higher prices, made it “essentially impossible” to buy tickets online for site.
Continue reading...America’s biggest crypto companies are riding high. Plus, can the left reclaim techno-optimism?
Hello, and welcome to TechScape. In this week’s edition, the crypto industry’s political investments pay off in spades, the left attempts to reclaim an optimistic view of our shiny technological future, and your memories of Skype.
SpaceX’s Starship explodes in second failure for Elon Musk’s Mars program
Musk tells Republicans he isn’t to blame for mass firings of federal workers
Musk survives as fellow of Royal Society despite anger among scientists
White House to overhaul $42.5bn Biden-era internet plan – probably to Musk’s advantage
Continue reading...Center for Political Accountability, which advocates for corporate disclosure, warns of fallout from Trump’s efforts
A new report warns of “profound risks” in American politics as cryptocurrency companies increase their political spending and Donald Trump oversees regulatory retreat while promising to create a “crypto strategic reserve”.
The situation “illustrate[s] the profound risks that unchecked corporate political spending presents, particularly within the volatile and often unpredictable cryptocurrency industry”, reads the report, from the Center for Political Accountability (CPA), a non-profit that advocates for corporate political disclosure.
Continue reading...President endorsed $Libra crypto token on Friday before it collapsed, leading some to call it a financial ‘rug pull’
Opposition politicians in Argentina have called for the impeachment of president Javier Milei after he touted a cryptocurrency which quickly collapsed and reportedly led to millions of dollars in losses this weekend.
Milei endorsed the little-known cryptocurrency token $Libra on Friday evening, announcing on X that the project was “dedicated to boosting the growth of the Argentine economy by funding small businesses and entrepreneurs”. His post linked to a website where the digital coin could be bought, the domain name of which included Milei’s popular catchphrase “long live freedom”.
Continue reading...End of ‘de minimis’ policy for Chinese goods also expected to hit bigger fashion retailers such as Asos and Boohoo
Many UK-based independent sellers on marketplaces such as eBay and Amazon could suffer a significant hit to US sales from planned changes to import rules under Donald Trump, with experts comparing the impact to a second Brexit.
The new rules, which mean all parcels originating or made in China and being sold into the US must pay import duty – of as much as 15% on fashion items – and an additional 10% tariff, are also expected to impact bigger online clothing retailers such as Asos and Boohoo.
Continue reading...European Commission also urges EU lawmakers to phase out exemption on customs duties for parcels under €150
Parcels sent from China by online retailers such as Shein and Temu will face strict new customs controls as part of a crackdown by the European Commission on “dangerous products” flooding the EU market.
Brussels officials also urged EU lawmakers to phase out the exemption on customs duties that is allowed for parcels under €150 (£125), which enables foreign suppliers to sell cheap goods in the bloc without paying the tax.
Continue reading...Bitcoin rises by 4% past $109,000, reversing earlier losses; Donald Trump meme coin price tanks after wife Melania also launches token
The UK chancellor, Rachel Reeves, will travel to the World Economic Forum’s annual meeting in Davos this week in the hope of convincing some of the world’s largest companies to invest, with allies saying she will use spending cuts rather than further tax increases to meet her own fiscal rules.
At the same time, the Treasury is considering a push to cut the benefits bill, in a move that is causing nervousness among Labour MPs.
Continue reading...New powers come amid concerns that cyber-attacks and outages could put the country’s financial stability at risk
City regulators will begin cracking down in the new year on tech firms providing “critical” services to UK banks amid concerns that cyber-attacks and outages at companies such as Google or Amazon could put the country’s financial stability at risk.
From 1 January, the Bank of England and the Financial Conduct Authority will be handed powers to regulate companies that are becoming a crucial part of the day-to-day operations of the increasingly digital banking and payments sector.
Continue reading...Conceptual work created by Italian artist Maurizio Cattelan was sold at auction in New York last week
The cryptocurrency entrepreneur Justin Sun has fulfilled a promise he made after spending $6.2m (£4.88m) on an artwork featuring a banana duct-taped to a wall – by eating the fruit.
At one of Hong Kong’s priciest hotels, Sun, 34, chomped down on the banana in front of dozens of journalists and influencers after giving a speech hailing the work as “iconic” and drew parallels between conceptual art and cryptocurrency.
Continue reading...Workers and their representatives to press US retailer to respect their rights and take action on the climate crisis
Thousands of Amazon workers are expected to protest or strike in more than 20 countries during Black Friday to press for better workers’ rights and climate action from the US retailer..
Workers and representatives from unions and workers’ groups intend to join protests against the Seattle-based company’s practices between Black Friday and Cyber Monday (29 November and 2 December), one of the biggest shopping weekends of the year.
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