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Democrats to investigate Trump actions against AT&T, Amazon

WASHINGTON: When Democrats take control of the U.S. House they plan to investigate the Trump administration’s attempt to block AT&T Inc from acquiring Time Warner, and whether officials sought to punish Amazon by prodding the U.S. Post Office to hike shipping prices for the world’s largest e-commerce company, a senior Democrat and a congressional aide said on Sunday. Speaking to online publication Axios, Representative Adam Schiff, who is expected to be the incoming chairman of the House Intelligence Committee, said…

Microsoft overtakes Amazon as second most valuable U.S. company

SAN FRANCISCO: Microsoft Corp regained its spot as the second most valuable U.S. company on Friday after a disappointing quarterly report from Amazon.com wiped $65 billion off the online retailer’s market capitalization. Apple Inc tops the list at over $1 trillion after crossing that threshold in September. Microsoft’s market capitalization was Wall Street’s highest in late 1998 through early 2000 before the dot-com bubble burst. Amazon’s shares dropped 7 percent, the most in nearly three years after its holiday season…

Snap expects to lose more users, shares plunge

Snap Inc lost more users than Wall Street expected in the third quarter as it continued to grapple with an unpopular redesign of its Snapchat photo-messaging app and fierce competition from Facebook Inc’s Instagram. Daily active users are expected to fall again next quarter, Snap Chief Financial Officer Tim Stone told analysts on a conference call, which would mark the third sequential quarter of user declines. Snap shares, which have lost more than 52 percent since the beginning of the year, tumbled 10 percent in…

Amazon to raise minimum wage to $15 for US employees

WASHINGTON: Amazon.com said on Tuesday it would raise its minimum wage to $15 per hour for its US employees from next month as it faces criticism for pay disparity from lawmakers and labor unions. The company also said it would lobby in Washington for an increase in the federal minimum wage and urge other competitors to raise wages - a call that comes in the backdrop of the “Fight for Fifteen” movement, a union-led push for a $15 minimum wage. Amazon, which became the second company to cross $1 trillion market value…

6-year-old secretly orders $350 worth of toys off Amazon

Like their first smile, their first steps, their first laugh, a child’s first scam is something a parent will cherish forever. In most cases, a kid’s first scam is entirely amateur, albeit adorable, like stealing cookies from the cookie jar, secretly staying up late to watch a scary movie, or maybe even hiding something they broke and feigning innocence when asked where it went. Six-year-old Caitlin, though? She’s a pro already, and it’s almost intimidating. If she’s pulling off scams at this level, it’s only a matter…

India panel wants localization of cloud storage data in possible blow to big tech firms

NEW DELHI: A panel working on the Indian government’s cloud computing policy wants data generated in India to be stored within the country, according to its draft report seen by Reuters, a proposal that could deal a blow to global technology giants such as Amazon and Microsoft who offer such services. It could not only raise their costs because they will need to ramp up the number and size of data storage centers in India, where power costs remain high, but at least some of those increases are likely to be passed onto…