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List of All Articles with Tag 'tec'

US bond traders seek edge by adopting tech -report
US bond traders seek edge by adopting tech -report
By Matt Tracy (Reuters) -U.S. bond investors are coming around to using technology more to trade fixed-income products, as they
2023-06-22 01:47
FTC Sues Amazon for Hindering Consumer Attempts to Cancel Prime
FTC Sues Amazon for Hindering Consumer Attempts to Cancel Prime
The US Federal Trade Commission sued Amazon.com Inc. Wednesday, alleging the e-commerce giant duped consumers into signing up
2023-06-22 01:17
Amazon duped millions of consumers into enrolling in Prime, US FTC says
Amazon duped millions of consumers into enrolling in Prime, US FTC says
By David Shepardson WASHINGTON (Reuters) -The U.S. Federal Trade Commission filed suit against Amazon.com Inc on Wednesday, accusing the retailer
2023-06-21 22:52
Rakuten’s Rating Cut on Uncertainty About Mobile Business
Rakuten’s Rating Cut on Uncertainty About Mobile Business
Rakuten Group Inc.’s credit rating was cut by Japan Credit Rating Agency Ltd., citing uncertainty about the outlook
2023-06-21 21:21
UK Inflation Overshoots Again, Heaping Pressure on BOE
UK Inflation Overshoots Again, Heaping Pressure on BOE
UK inflation remained higher than expected for a fourth month, ratcheting up pressure on the Bank of England
2023-06-21 14:52
Shein Deal to Re-Enter India Comes With Strict Licensing Rules
Shein Deal to Re-Enter India Comes With Strict Licensing Rules
Chinese-founded online fast-fashion giant Shein won approvals to re-enter India only after agreeing to a stringent licensing deal
2023-06-21 14:51
Apple’s Taiwan Suppliers See Sales Falter Again on Slow Demand
Apple’s Taiwan Suppliers See Sales Falter Again on Slow Demand
Revenue among Taiwan’s major Apple Inc. suppliers fell for a fourth straight month in May, as high living
2023-06-21 14:25
Canal+ to Buy Minority Stake in PCCW’s Viu Unit for $300 Million
Canal+ to Buy Minority Stake in PCCW’s Viu Unit for $300 Million
Canal+, the French broadcaster owned by billionaire Vincent Bollore’s Vivendi SE, has agreed to buy a significant minority
2023-06-21 13:58
Facebook Marketplace is most complained-about online retail platforms
Facebook Marketplace is most complained-about online retail platforms
Facebook Marketplace is the most complained-about online retail platform for selling counterfeit, poor-quality and potentially unsafe goods, Trading Standards has reported. The online giant, which enables third-party sellers to trade goods on the platform via the marketplace, was criticised for being slow to take action against problem sellers and for enabling misleading product descriptions, counterfeit goods and potentially harmful products to reappear on its platform after being taken down. A national survey by the Chartered Trading Standards Institute (CTSI) found the online giant causes its officers the most concern, as well as being unresponsive or unco-operative when contacted about problem sellers. More than half (53 per cent) of respondents representing about 50 local authorities across the UK identified Facebook as the most complained-about online marketplace – more than all of the others combined. If it wants to be seen as a proper online retailer where people can buy safe and legitimate goods, it needs to start acting like one CTSI chief executive John Herriman The CTSI’s survey, the first of its kind, also found that Trading Standards teams were unable to properly address problems with online marketplaces because of a “triple whammy” of recurring issues – unco-perative businesses, unsuitable legislation and limited resources. Just 10 per cent of Trading Standards officers said they had been able to take action against online marketplaces as a result of these three obstacles. The CTSI’s survey found that 45 per cent of officers cited a lack of co-operation from online marketplaces as a recurring problem, 63 per cent said the law as it stands is not fit for purpose and 57 per cent had received no response when attempting to contact sellers on online marketplaces. Some 59 per cent said they had been unable to locate details about where third-party sellers on online marketplaces were based and 29 per cent said they wee unable to deal with complaints about online marketplaces because of a lack of time and resources. CTSI chief executive John Herriman said: “Facebook Marketplace needs to up its game. At a time when more and more people are going online to buy things, there is a real urgency for online retailers to take their responsibilities to their customers more seriously. Currently, online marketplaces like eBay and Facebook Marketplace are operating with fewer safety regulations than traditional high street retailers, eroding fair competition and allowing the sale of unsafe goods to flood the market unabated Martyn Allen, Electrical Safety First “The fact that Facebook Marketplace is an offshoot of a social media platform rather than a service that was built as an online retailer from the ground up speaks volumes. If it wants to be seen as a proper online retailer where people can buy safe and legitimate goods, it needs to start acting like one. “Failing to take action against sellers who use their platform to mislead, rip off and potentially endanger consumers just isn’t good enough. “We are calling for all online marketplaces to take action against problem sellers, for the law to be tightened up so enforcers have more tools at their disposal to protect consumers, and for more resources that enable us to do that more effectively.” A Meta spokesman said: “We take these issues seriously and when we find listings that violate our rules, we remove them. “We also work closely with external partners and respond to valid legal requests from law enforcement and the Office for Product Safety and Standards, to prevent illegal activity on our platforms.” Phil Lewis, director general of the Anti-Counterfeiting Group (ACG), said: “Criminals rely on legal e-commerce platforms, social media, maritime freight companies, express couriers, airlines, postal services and internet hosting services to set up rogue shopping sites. “ACG is calling on government to recognise the growing international threats to our families, job-providing businesses and the economy. “Appropriate enforcement resources and a policy architecture are desperately needed to ensure the companies providing these services work alongside our enforcement authorities and businesses, to combat this intensifying threat.” Martyn Allen, technical director of the charity Electrical Safety First, said: “Sadly, the high number of complaints Trading Standards officers receive regarding online purchases comes as no surprise. Online retailers like Facebook Marketplace need to be held to account just like any other type of business, otherwise consumers and legitimate businesses lose out Yvonne Fovargue, APPG on Consumer Protection “Currently, online marketplaces like eBay and Facebook Marketplace are operating with fewer safety regulations than traditional high street retailers, eroding fair competition and allowing the sale of unsafe goods to flood the market unabated. This puts UK citizens at serious risk of injury and harm. “It’s been a year and a half since the UK Government promised publication of the Product Safety Review, which is expected to include proposals to protect British consumers when they shop online. “The time for waiting is over – the Government must prioritise publishing the Review without any further delay.” Yvonne Fovargue, chairwoman of the All Party Parliamentary Group on Consumer Protection, said: “Since the pandemic and now, with the cost-of-living crisis, more people are buying products from online marketplaces. “These consumers deserve to be treated fairly and should be able to be confident that what they buy is safe and accurately described. “Online retailers like Facebook Marketplace need to be held to account just like any other type of business, otherwise consumers and legitimate businesses lose out.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live UKRI announces £50 million to develop trustworthy and secure AI ‘Last Beatles record’ was created using AI, says Paul McCartney Put ‘public good’ at heart of AI and new tech, Starmer to say
2023-06-21 12:15
Rivian to adopt Tesla's charging standard in EVs and chargers
Rivian to adopt Tesla's charging standard in EVs and chargers
By Abhirup Roy SAN FRANCISCO (Reuters) -Electric vehicle maker Rivian said on Tuesday it will adopt Tesla's charging standard, giving
2023-06-21 10:50
South Korea Early Exports Gain Shows Budding Global Recovery
South Korea Early Exports Gain Shows Budding Global Recovery
South Korea’s early trade data pointed to the first increase in exports since August last year, a possible
2023-06-21 10:27
SoftBank to Shift to ‘Offense’ in Investments, CEO Says
SoftBank to Shift to ‘Offense’ in Investments, CEO Says
SoftBank Group Corp. founder Masayoshi Son said the world’s largest tech investor will go on the offensive soon,
2023-06-21 09:53
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