Billion

Apple Fined Nearly $2 Billion by European Union

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LONDON — The European Union leveled its first antitrust penalty against Apple on Tuesday, fining the U.S. tech giant nearly $2 billion for breaking the bloc’s competition laws by unfairly favoring its own music streaming service over rivals. Apple banned app developers from “fully informing iOS users about alternative and cheaper music subscription services outside … Read more

Reddit seeking a valuation of up to $6.5 billion in IPO

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In this photo illustration, the Reddit logo is displayed on a cell phone and computer monitor on February 13, 2024 in Los Angeles, California.  Mario Tama | Getty Images Reddit is seeking a valuation of up to $6.5 billion in its upcoming IPO, according to a person familiar with the matter. The company plans to … Read more

$75 Billion Lost to Pig-Butchering Scam, New Study Estimates

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Pig-butchering scammers have likely stolen more than $75 billion from victims around the world, far more than previously estimated, according to a new study. John Griffin, a finance professor at the University of Texas at Austin, and graduate student Kevin Mei gathered crypto addresses from more than 4,000 victims of the fraud, which has exploded … Read more

India boosts chip ambitions, okays plants with $15 billion in investments

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Researchers inside the semiconductor fabrication lab at the Centre for Nano Science and Engineering, at the Indian Institute of Science, in Bangalore on June 30, 2018. Manjunath Kiran | Afp | Getty Images India has approved building three semiconductor plants with investments of more than $15 billion as the country aims to become a major … Read more

Alibaba Leads Record Deal to Mint $2.5 Billion China AI Firm

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Alibaba Group Holding Ltd. led the largest single financing round for a Chinese artificial intelligence startup, the latest in a string of sizable investments that suggest the e-commerce firm is again deploying capital in the hunt for growth. Alibaba joins Tencent Holdings Ltd. and Silicon Valley peers like Microsoft Corp. in placing big bets on … Read more

A widow unexpectedly received $1 billion of Berkshire Hathaway stock. Now, she’s covering Bronx med students’ tuition forever.

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Ruth Gottesman in 2016.Brent N. Clarke/Getty Images Ruth Gottesman is donating her late husband’s $1 billion in Berkshire stock to a Bronx medical school. The donation is set to cover students’ tuition in perpetuity. A video posted Monday shows students cheering and crying when they hear the news. When the 96-year-old Ruth Gottesman’s husband died … Read more

UK budget surplus hit record £16.7 billion in January

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Jeremy Hunt, UK chancellor of the exchequer, holding the despatch box as he stands with treasury colleagues outside 11 Downing Street in London, UK.. Bloomberg | Bloomberg | Getty Images LONDON — The U.K. logged a record £16.7 billion ($21.1 billion) net budget surplus in January, according to official figures released on Wednesday. The Office … Read more

Cox Communications won’t have to pay $1 billion to record labels after all

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In the seemingly endless fight between record labels and ISPs over music piracy, the Fourth Circuit Court of Appeals in Richmond, Virginia decided Tuesday that $1 billion is too much for Cox Communications to pay record labels in damages. Instead, as reported by Reuters, a new trial should be set in a federal district court … Read more

Tax Season 2024: IRS Issued $13 Billion in Tax Refunds in the Second Filing Week

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The 2024 tax season is just three weeks old, having kicked off on Jan. 29, and taxpayers are already getting refund money from the IRS.  Taxpayers can normally expect to receive a refund within 21 days if they file electronically and choose direct deposit, the IRS said. But by Feb. 9, almost two weeks into tax filing season, … Read more