Business

Google has been fined nearly $270 million by French authorities for abusing its market power in the digital advertising sector. As part of the first-of-its-kind settlement agreement announced by the French Competition Authority Monday, Google also agreed to change some of its advertising practices to make it easier for competitors to use its online ad tools as a result of the agreement. Google’s commitment to change its practices is binding for three years, the regulators said. The French investigation found that Google unfairly sent digital advertising business to its own services and discriminated against the competition. Specifically, the investigation found that Google gave preferential treatment to its own advertising server, DFP, and its online ad auction house, AdX, in part by providing information about rival bids. “These very serious practices have penalized competition in the emerging online advertising market, and have enabled Google not only to preserve but also to increase its dominant position,” Isabelle de Silva, president of the French Competition Authority, said in a statement. “This sanction and these commitments will make it possible to re-establish a level playing field for all actors, and the ability of publishers to make the most of their advertising spaces,” she

It was a scary good weekend for horror sequels at the box office as movie-goers return to theaters while COVID-19 pandemic restrictions subside. “The Conjuring: The Devil Made Me Do It” took the top spot for the week with a $24 million haul, ousting last week’s leader “A Quiet Place Part II,” which took in $20 million this week and $88.6 million over two weeks, according to Comscore. Disney’s “Cruella” was third with $11.2 million domestically and “Spirit Untamed” took in $6.2 million for the fourth spot in its opening weekend. “Cruella” has had $43.6 million in total domestically, Comcast said. “Raya and the Last Dragon,” another Disney film, was fifth for the week with $1.3 million, and $53.5 million since its opening. The third installment of “The Conjuring” – and the first not directed by James Wan – reportedly had the biggest opening of an R-rated movie in the pandemic era. After a strong Memorial Day weekend and several big name movies being released, the industry is hoping its in the midst of a post-pandemic rebound. The movie industry was ravaged by the pandemic restrictions and major studios grew gun shy about releasing moves during the height of the

Apple employees are up in arms over a newly announced policy that would cut their work-from-home time beginning in the fall, according to a report. Staff members on Friday began circulating a letter addressed to CEO Tim Cook slamming the mandate, which requires them to go back to the office for three days a week starting in September, The Verge reported. The letter said that Apple’s so-called “remote/location-flexible work policy,” and how it was communicated to workers, had “already forced some of our colleagues to quit,” according to the outlet. “Without the inclusivity that flexibility brings, many of us feel we have to choose between either a combination of our families, our well-being, and being empowered to do our best work, or being a part of Apple,” the note read. The move comes days after Cook sent out his own note to employees, letting them know that they would have to go back to the office on Mondays, Tuesdays and Thursdays. Most employees would be allowed to continue working remotely twice a week. Prior to the coronavirus pandemic, Apple discouraged employees from working from home at all, the report said.

Fisher-Price says it is recalling a model of its baby soothers after the deaths of four infants who were placed on their backs unrestrained in the devices and later found on their stomachs. In a joint statement with the Consumer Product Safety Commission, Fisher-Price said Friday it is recalling its 4-in-1 Rock ‘n Glide Soothers, which are designed to mimic the motion of a baby being rocked in someone’s arms. The fatalities between April 2019 and February 2020 were a 4-month-old from Missouri, a 2-month-old from Nevada, a 2-month-old from Michigan and an 11-week=old from Colorado, according to the statement. Fisher-Price, which is a division of El Segundo, California-based Mattel, is also recalling a similar product, the 2-in-1 Soothe ’n Play Glider, although there were no reported deaths connected to it. “Inclined products, such as gliders, soothers, rockers and swings are not safe for infant sleep, due to the risk of suffocation,” CPSC Acting Chairman Robert Adler said. Fisher-Price General Manager Chuck Scothon, said the company is committed to educating parents and caregivers on the safe use of its products, “including the importance of following all warnings and instructions.” About 120,000 4-in-1 Rock ‘n Glide Soothers and 55,000 2-in-1 Soothe ‘n Play

Square is considering making a hardware wallet for bitcoin, chief executive officer Jack Dorsey said in a tweet Friday. As bitcoin and other cryptocurrencies have gained in popularity, many companies have emerged to serve a growing need to protect these assets from online theft. Bitcoin wallets can be stored offline or online at cryptocurrency exchanges, venues where bitcoin can be bought and sold for traditional currencies or other virtual coins. “If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community,” said Dorsey. Shares of Square were up almost 4 percent to $215.24 at midday Friday. The company has further raised its bets on bitcoin since it disclosed in February it had invested $170 million more in the cryptocurrency.

Walt Disney Chairman Bob Iger sold shares of the company worth $98.7 million, according to a regulatory filing late Thursday. Iger sold 550,570 shares of Disney’s common stock, the filing showed. He sold 537,304 shares at an average price of $179.2 per share, and 13,266 shares at an average of $179.76 each. The entertainment company said the sale was part of Iger’s move to diversify his portfolio. Iger had served as Disney Chief Executive Officer since 2005 before he stepped down earlier this year, handing over the job to Disney Parks head Bob Chapek. Disney has said Iger will direct the company’s “creative endeavors” until his contract ends at the end of this year. Iger holds over 500,000 Disney shares in addition to options and other securities, the company said.

The former CEO of Make-A-Wish Iowa has pleaded guilty to charges of embezzling tens of thousands of dollars meant to help sick and dying children. Jennifer Woodley admitted in a written guilty plea last week to the unauthorized use of a credit card for the months-long theft, which began in the summer of 2019. Woodley, 40, who became president of the Iowa chapter in August 2019, also admitted to giving herself an unapproved bonus and salary increases, and to making false entries in foundation records to cover those expenses. She pleaded guilty to two counts of first-degree theft and one count of fraudulent practices, all felonies. Under a plea agreement, prosecutors will recommend a sentence of five years of probation, along with fines and restitution, which have yet to be set. A sentencing hearing is scheduled for July 20. Woodley’s attorney, Nicholas Sarcone, said he would ask for a deferred judgment at sentencing. If granted, that means the case would be expunged from her record, so long as Woodley completes her probation and the other parts of her sentence. Two months after Woodley became CEO of the organization, she granted herself a $10,000 bonus that wasn’t approved by the group’s board,