Below please find a roundup of business and technology news from the past week.
- The Verge reports that Sirius XM has acquired music streaming service Pandora Radio for $3.5 million. The buyout comes as a relief to Pandora, who lost $200 million in the first half of 2018 after struggling against competitors like Spotify and Apple Music.
- TechCrunch notes that Snapchat is rolling out a feature allowing users to take pictures of products and then purchase those products on Amazon. Snap has declined to disclose the financial details of the partnership with Amazon.
- NBC News reports that Chinese billionaire and Alibaba CEO Jack Ma stated that the growing trade war between the U.S. and China has made it impossible for Ma to follow through on a promise to create one million jobs in the United States. Ma also stated that in his estimation, the trade war could last decades.
- The Washington Post reports that the future of 5G cell service in America may hinge on FCC regulations regarding how much companies should pay to access public utility poles. The agency is likely to vote on this issue this week. From the article: “The proposal by the Federal Communications Commission would establish new limits on the fees that cities and towns can charge wireless carriers as the companies set up their new 5G data networks. And it would require local officials to make decisions more quickly on carriers’ permit applications.”
- Finally, Bloomberg reports that Starbucks is planning significant restructuring, including layoffs at top corporate levels.
- The October 2018 issue of the ABA Journal has a great piece on the tension between law enforcement’s interest in curtailing crime and consumers’ interests in maintaining privacy. It’s worth a read!
- The Washington Post reports that today, Uber reached a $148 million dollar settlement with all fifty states and the District of Columbia to settle allegations that the company violated data breach laws by waiting one year to disclose to customers a breach of 57 million people’s data, and by paying the hackers $100,000 to keep the breach quiet. This settlement is the largest multi-state penalty laid down for a data breach.
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