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‘Serious concerns’ over Amazon’s Deliveroo investment

‘Serious concerns’ over Amazon’s Deliveroo investment

Business
Amazon's hefty investment in the online food courier Deliveroo raises serious competition concerns that may need an in-depth investigation, a competition watchdog has said.Under the current deal, there was a "real risk" it could leave customers and businesses facing higher prices and poorer services, the Competition and Markets Authority (CMA) warned. The companies now have five working days to offer legally-binding proposals to address the concerns raised, which the regulator will then consider whether to accept or refer the case for a full investigation.If a so-called phase two investigation is launched, it could take several months, as officials comb through the detail and take evidence from the sector more widely.The CMA has the ultimate power to block the deal as it did when Sainsbury...
‘I won’t sleep for over 24 hours on election night’

‘I won’t sleep for over 24 hours on election night’

Business
On the day of the election, Jordan Rochester will start work at 06:30 GMT and won't leave his desk until 09:00 on Friday - more than 24 hours later.Mr Rochester is a foreign exchange currency strategist at Nomura. His job is to make sure his clients - big corporations, fund managers and private banks - make money no matter which way the pound swings when the election polls come in.He'll be watching exit polls closely and the results as they come in to give him an idea of what the result will be.The 29-year-old has a good track record. The night before the outcome of the European referendum vote he advised colleagues and clients to stay at their desks, because even though the exit polls showed Remain winning by 52:48 he believed ...
Shops urged to take smart toys off shelves over security concerns

Shops urged to take smart toys off shelves over security concerns

Technology
Children are at risk of being contacted by strangers and seeing offensive images through their must-have smart toys, an investigation has found.Consumer group Which? found security flaws in toys including walkie talkies, karaoke machines and robots which could leave them open to being hacked, hijacked by other users or lack online filters. With the UK expected to spend billions of pounds on toys this Christmas, the group is calling on retailers - including John Lewis, Amazon, Argos and Smyths toy store - to withdraw a number of 'connected' or 'intelligent' toys. Image: Karaoke microphone allows people to send recorded messages to the device through Bluetooth Out of seven popular devices tested, three of them could be exploited so a st...
Musk’s ‘faith restored’ after winning $190m case over ‘pedo’ tweet

Musk’s ‘faith restored’ after winning $190m case over ‘pedo’ tweet

World
Elon Musk has said his "faith in humanity is restored" after he won a defamation case brought against him for calling a British caving expert a "pedo guy".Vernon Unsworth sued the billionaire Tesla founder after they had a Twitter spat during the July 2018 Thailand cave rescue. Mr Unsworth was left feeling "humiliated, ashamed" by the tweet from Musk, a federal court in California heard.Mr Musk's lawyers argued it was no more than a playground insult and did not represent a genuine allegation of paedophilia. Image: Vernon Unsworth said he would 'take it on the chin and get on with my life' The jury of five women and three men deliberated for less than an hour before finding in favour of Mr Musk. ...
Heavy fine for Chinese firm over unlicensed game

Heavy fine for Chinese firm over unlicensed game

Technology
A game launched in China without government approval has landed the company behind it with a heavy fine.It is the first time such action has been taken since China reformed its gaming regulator last year.In this case, the unnamed company that fell foul of the law has been fined seven times the revenue it earned from the game, or 700,000 yuan (£75,800).Developers in China are required to seek a licence for each game they make before distributing it.Authorities said the game was a mobile title, made by a firm in Beijing.According to Abacus News, which first reported the fine, Chinese officials recently lifted a freeze on the licensing of new games but are still not approving as many titles as they used to before the freeze.China's