Below please find a roundup of business and technology news from the past week:
- Staff editor Kevin Redden has flagged some great analysis from The Washington Post regarding Google+’s data privacy scandal. A vulnerability in the code animating Google+ left the data of 500 million users vulnerable to hacking. This article comes at the story from a unique angle, discussing the idea of digital “junk” that users create and then forget about. (Google kept the bug secret for months before effectively shutting down Google+.)
- Reuters reports that the proposed $69 billion merger between CVS and mega-insurer Aetna has won antitrust approval from the Department of Justice. This merger will afford the merged corporation significant control over health care costs for customers–time will tell if those costs go up, down, or stay static.
- Last week’s roundup noted that Amazon had raised its minimum wage to $15. The Associated Press reports that lost in the fine print of that announcement was the company’s plan to simultaneously eliminate bonuses and stock options for those same workers.
- CNN reports that on Wednesday morning, the Dow fell 400 points as investors grow concerned about rising interest rates. Tech companies’ stocks have been hit particularly hard by this slump.
- CBC News went undercover at a ticket company convention and revealed that Ticketmaster may be complicit in assisting scalpers. By doing so, it has a dual effect of raising ticket prices and allowing Ticketmaster to profit from fees on selling the tickets originally, and then again if the scalper uses Ticketmaster’s website to re-sell them.
- Media industry news outlet Variety discusses former White House communications director Hope Hicks’ move to head communications at Fox News, announced this week. Hicks’ move is the latest in a series of lateral moves between the White House or Trump campaign and major television news stations.
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