Category Archives: E-commerce

Australian computer scientist is not bitcoin creator Satoshi Nakamoto, high court rules

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Judge says evidence for his conclusion that Craig Wright did not create bitcoin is ‘overwhelming’

Satoshi Nakamoto, the pseudonymous creator of bitcoin, is not the Australian computer scientist Craig Wright, a high court judge has ruled, ending a fractious two-month trial in London.

In a highly unusual decision, the presiding judge, Mr Justice Mellor, issued the verdict within seconds of the case concluding, promising to issue a “fairly lengthy written judgment” in due course.

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Bitcoin hits new record high above $70,000; US investor ends Currys chase – business live

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Live, rolling coverage of business, economics and financial markets as exchange-traded funds help biggest cryptocurrency rally

The European Commission’s use of Microsoft email and office software broke its own privacy rules, an EU privacy watchdog has ruled.

Microsoft’s software transferred personal data outside the EU, breaching privacy rules, according to the European Data Protection Supervisor.

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Crypto firm moved $4.2m of assets to digital wallet linked to alleged Russian arms dealer

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Analysis shows link between Copper Technologies and Jonatan Zimenkov, who was later hit with US sanctions over Ukraine invasion

A cryptocurrency firm transferred digital assets worth more than $4.2m to a crypto wallet belonging to a member of an alleged Russian arms-dealing network who was later hit with US sanctions, it can be revealed.

Details of the transactions involving Copper Technologies raise questions about whether UK laws governing crypto have adapted quickly enough to keep pace with a rapidly evolving sector that has come under increasing scrutiny over the level of anonymity it can provide.

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Online slot machine stakes to be capped at £5 in Great Britain

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Maximum will be £2 for younger adults but campaigners say government has not gone far enough

The amount that can be staked on the spin of an online slot machine will be capped at £5, or £2 for younger customers, as part of government plans to tighten regulation of the £11bn-a-year gambling industry in Great Britain.

Online slots are currently exempt from limits on how much punters can wager.

In the UK and Ireland, Samaritans can be contacted on freephone 116 123, or email jo@samaritans.org or jo@samaritans.ie. In the US, you can call or text the National Suicide Prevention Lifeline on 988, chat on 988lifeline.org, or text HOME to 741741 to connect with a crisis counselor. In Australia, the crisis support service Lifeline is 13 11 14. Other international helplines can be found at befrienders.org

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Uniqlo sues Shein over ‘imitation’ banana-shaped ‘it’ bag

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Petition demands online retailer stop immediate sale of bags and compensation for damages incurred

Uniqlo is suing the Chinese online retailer Shein over the sale of items it claims copy its popular banana-shaped ‘it’ bag, the “round mini”.

The petition demands that Shein immediately stops the sale of “the imitation products” and pays compensation for damages incurred as a result of their sale. It was filed last month in the Tokyo district court against the fast-growing business’s parent groups Roadget and Fashion Choice, as well as Shein Japan.

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Leading tech journalist quits Substack over platform’s Nazi newsletters

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Reporter Casey Newton takes more than 170,000 subscribers elsewhere over company’s failure to police extremist content

Platformer, a prominent tech newsletter founded by the veteran reporter Casey Newton, is leaving Substack over the company’s failure to police extremist content.

In a post explaining the decision, Newton said his team had identified seven Substack publications “that conveyed explicit support for 1930s German Nazis and called for violence against Jews, among other groups”. He said after weeks of back-and-forth discussions with company leaders about their “laissez-faire approach to content moderation”, he decided to part ways with the platform.

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French post office opens changing room for online shoppers

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Customers can collect their parcels and try on items in one trip during trial at La Poste branches

It is an increasingly common irritant of modern life. You order an item of clothing online; you wait with anticipation for it to arrive, and five minutes after it has arrived you’re packaging it up because it doesn’t fit.

For shoppers in France, however, the national post office may have the answer – or at least a way of making the process less logistically challenging. It is experimenting with in-store changing rooms to cater to people who want to quickly return purchases they do not want.

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Online marketplaces report surge in sales of secondhand goods

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Amazon, eBay and others record rise in reselling as cost of living crisis bites and customers try to shop sustainably

Online marketplaces are experiencing a surge in sales of secondhand goods amid the cost of living crisis and customers choosing to shop more sustainably.

Amazon said it had seen a 15% increase in sales of secondhand goods in the first nine months of the year, with sales across the UK and Europe hitting £1bn a year.

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Ex-owners of sex work site Backpage convicted of prostitution scheme

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Michael Lacey, Scott Spear and John Brunst, all men in their 70s, created complicated system to try to outwit US government

Three former owners of the website Backpage, a site mainly known as a place where sex workers advertise their services, have been convicted for federal crimes including promoting prostitution and money laundering, the US Department of Justice announced on Friday.

The recently convicted trio, Michael Lacey, 75, Scott Spear, 72, and John “Jed” Brunst, 71, came to own Backpage in 2010. Since then, the government says, they encouraged sex work ads by creating a system for “johns”, or customers, to leave reviews about the sex workers they had engaged with. Website workers and an automated system filtered out words that made it obvious that sex was being offered in exchange for money.

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Ex-minister Gavin Williamson warned as he takes job at payment card provider

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Advisory committee on business appointments tells MP he must not utilise contacts in government in Lanistar role

The former cabinet minister Gavin Williamson has taken a job at a firm launching a payment card “built for the influencer lifestyle”, which was previously hit with a consumer warning by the Financial Conduct Authority (FCA) and currently only offers its product in Brazil.

Williamson has gained permission to join the advisory board of Lanistar, whose website says it wants to roll out its virtual payment card and crypto services to the UK and EU.

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Sam Bankman-Fried admits to ‘large mistakes’ in crypto fraud trial testimony

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Bankman-Fried says his biggest mistake was not implementing a dedicated risk management team for crypto trading platform FTX

Sam Bankman-Fried admitted to making management mistakes while at the helm of FTX, his former multibillion-dollar cryptocurrency empire, during testimony in his defense at trial.

“I made a number of small mistakes and a number of large mistakes,” Bankman-Fried, 31, said in sharing his version of the rise and fall of crypto trading platform FTX. The biggest mistake, he said, was not implementing a dedicated risk management team.

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Fears of employee displacement as Amazon brings robots into warehouses

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Digit will begin its time on the floor by shifting empty tote boxes amid concerns humans will be shifted out of jobs

Amazon is experimenting with a humanoid robot as the technology company increasingly seeks to automate its warehouses.

It has started testing Digit, a two-legged ​r​obot that can grasp and lift items, at facilities this week. The device is first being used to shift empty tote boxes.

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Waitrose in talks with Amazon over online grocery deal, says report

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Supermarket said to be considering third-party deal after share of UK market falls

Waitrose is reportedly in talks with Amazon to sell groceries via the internet marketplace, in an attempt to lure in more shoppers and claw back market share.

The Sunday Telegraph reported that the upmarket supermarket, part of the John Lewis Partnership, and Amazon were discussing a third-party deal, after the world’s biggest online retailer struck a similar agreement with the supermarket Iceland recently.

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FTX co-founder testifies he committed crimes with Sam Bankman-Fried

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Gary Wang, who previously pleaded guilty to his role in FTX’s downfall, is testifying under a plea agreement

Sam Bankman-Fried’s crypto fraud trial gained steam on Thursday when the co-founder of his fallen exchange, Gary Wang, took the stand as a government witness in Manhattan federal court.

His testimony came as the highly anticipated trial entered its third day. Bankman-Fried faces seven counts on fraud and conspiracy charges in relation to the implosion of his crypto exchange FTX and its related hedge fund, Alameda Research.

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Sam Bankman-Fried arrives in Manhattan court as fraud trial kicks off

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FTX founder shed his signature T-shirt and shorts look to don on suit with freshly cut hair as day one of fraud trial commenced

The criminal trial of the former cryptocurrency mogul Sam Bankman-Fried began on Tuesday, with jury selection getting under way in a Manhattan federal court.

Bankman-Fried, who founded the cryptocurrency exchange FTX and associated hedge fund Alameda Research, is facing trial on finance crimes stemming from the shocking collapse of FTX. Before its sudden downfall last year, FTX was valued at around $32bn.

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Indonesia bans e-commerce sales on social media platforms like TikTok

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Government says regulation aimed at protecting small businesses from competition

Indonesia has banned goods transactions on social media platforms as it aims to protect small businesses from e-commerce competition.

Calls had grown in recent months for a regulation governing social media and e-commerce, with offline sellers seeing their livelihoods threatened by the sale of cheaper products on TikTok Shop and other platforms.

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EU unveils package of laws to curb power of big tech firms

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‘Revolutionary’ Digital Markets Act aims to allow more competition and let consumers delete preloaded phone apps

The EU has unveiled a set of “revolutionary” laws to curb the power of six big tech companies, including allowing consumers to decide what apps they want on their phone and to delete pre-loaded software such as Google or Apple’s maps apps.

The package of laws will also pave the way for more competition in some of the areas most guarded by the tech firms, including Apple Wallet and Google Pay.

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Small firms fear going bust as Amazon extends wait time for sale proceeds

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Marketplace sellers in UK and rest of Europe say having to wait over a week means they will struggle to pay staff and loans

Amazon has told thousands of marketplace sellers in the UK and continental Europe it will hold on to sale proceeds for more than a week in a move that small businesses say could force them to go bust.

The company has written to sellers to inform them it will no longer credit their accounts as soon as a sale is made online but will do so a week after an item has been delivered.

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Tory peer faces questions over links to cryptocurrency lobbying firm

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Exclusive: James Wharton is helping to forge Westminster connections for the cryptocurrency sector

A former campaign manager to Boris Johnson who was appointed to lead an education quango is facing fresh questions over his role in a cryptocurrency lobbying firm.

James Wharton, a peer and former MP who chairs the Office for Students (OfS), has launched a new public affairs company that pledges to “help clients navigate the complexities of Whitehall and Westminster” and specialises in “disruptive” highly regulated sectors.

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Amazon’s main UK division pays no corporation tax for second year in a row

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Amazon UK Services received tax credit of £7.7m for investment in infrastructure under Rishi Sunak’s super-deduction scheme

Amazon’s main UK division has paid no corporation tax for the second year in a row after benefiting from tax credits on a chunk of its £1.6bn of investment in infrastructure, including robotic equipment at its warehouses.

Amazon UK Services, which employs more than half of the group’s UK workers, received a tax credit of £7.7m in the year to the end of December, according to accounts filed at Companies House, advance details of which were shared by Amazon with the Guardian.

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