Amazon wins $303 million tax case in European Union

Brussels: Europe’s second-top court on Thursday annulled an EU order to Amazon.com Inc. to pay about €250 million ($303.28 million) in back taxes to Luxembourg, part of an EU crackdown against unfair tax deals between multinationals and European Union countries. The Luxembourg-based General Court said Amazon had not enjoyed a selective advantage in its tax deal with Luxembourg. “The Commission did not prove to the requisite legal standard that there was an undue reduction of the tax burden of a European subsidiary of the Amazon group,” judge said. The European…

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Princeton Alum’s Startup Raises $51 Million to Help People Plan for An Easy Retirement

Are you aware that you could boost your retirement outlook by using this new startup’s no-cost service? SmartAsset’s free, five-minute tool makes it easy to find qualified financial advisors in your area or who serve your area. Our exclusive tool matches you with up to three fiduciary financial advisors who have passed a rigorous vetting process. Unlike broker-dealers, stockbrokers and insurance agents, fiduciary advisors are legally bound to work in your best financial interest. With over 110 million Americans over age 50, it’s no wonder this Princeton alum’s startup has…

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Self-Driving Truck Startup Plus to Go Public Through $3.3 billion SPAC Deal

Plus said on Monday it would go public through a merger with blank-check company Hennessy Capital Investment Corp. V in a deal that values the self-driving truck technology startup at $3.3 billion. The combined company will get proceeds of $500 million from the deal, including a private investment of $150 million. Investors in the deal include BlackRock and D.E. Shaw group, among others. In February, Plus raised $200 million in a funding round, co-led by brokerage Guotai Junan International and private equity firm CPE, according to data from Pitchbook. Founded…

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It Began as an AI-Fueled Dungeon Game. It Got Much Darker

The game touted its use of the GPT-3 text generator. Then the algorithm started to generate disturbing stories, including sex scenes involving children. IN DECEMBER 2019, Utah startup Latitude launched a pioneering online game called AI Dungeon that demonstrated a new form of human-machine collaboration. The company used text-generation technology from artificial intelligence company OpenAI to create a choose-your-own adventure game inspired by Dungeons & Dragons. When a player typed out the action or dialog they wanted their character to perform, algorithms would craft the next phase of their personalized,…

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The Statistical Secrets of Covid-19 Vaccines

They’re really very good, and they’re the only way out of the pandemic. But a tour through the numbers could bring the vaccine-hesitant into the tent. THE CREATION AND distribution of vaccines against Covid-19 has been as close as science gets to a miracle—the culmination of centuries of infectious disease research, a mastery of viral genomics, the creation of a whole new kind of vaccinology, and speed in the face of crisis. So it’s weird that even as the global pandemic worsens (infection and death rates have gone vertical in…

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Jay-Z Joins Twitter CEO Jack Dorsey’s Board of Directors for Company ‘Square’

A celebrity has just joined the board of directors of one of the up and coming companies started by Twitter CEO Jack Dorsey. While Jay-Z has been active in the business world and is still a well known rapper, the recent seat still comes as a surprise. Jay-Z Joins Jack Dorsey’s Square According to the story by CNet, Square, a certain mobile-payments company that is reportedly owned by Twitter CEO Jack Dorsey, has just added Jay-Z to the company’s official board of directors. The board of directors are critical to…

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Cognizant Attrition High Time, Impacting Revenue

Even as Cognizant has made offers to 28,000 campus hires for onboarding this year, the company’s attrition rate continues to stay very high, compared to those of its Indian peers. Some of the latter are seeing these rates decline, but Cognizant’s has risen in the past two quarters and has hovered in the range of 18%-24% for the past nine quarters. In the latest quarter, the company’s attrition rose to 21%, translating to about 15,600 employees leaving the firm. It was 19% in the preceding quarter and was 24% in…

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Windows 10X: Microsoft reportedly shelves its ambitious lightweight operating system

Windows 10X is apparently dead. Microsoft’s long-awaited Windows 10X operating system, its Chrome OS competitor, has been cancelled. According to Petri, Microsoft won’t ship the operating system anytime soon. The Windows 10X, which many thought would be a fresh take on Windows 10, was supposed to come first on single-screen devices designed for education and business use. While Microsoft may have stopped the development of Windows 10X, the company is still expected to bring some elements of the operating system to Windows 10 later this year. It is said that…

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Facebook Allows Drug Ads to Target Teens, Activists Say

TEENAGERS ON FACEBOOK can be targeted by ads endorsing alcohol, drugs, gambling, smoking, and eating disorders, according to a report by a watchdog group. The Tech Transparency Project created six test ads and submitted them to Facebook, saying it wanted to reach users ages 13 to 17. Facebook approved all the ads within hours, including one promoting pill parties in 43 minutes. “This is an easy fix, and Facebook should have had the foresight to make it a long time ago,” said Tech Transparency Project director Katie Paul. “Whether this…

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Zomato may Invest $100 million in Grofers as e-Grocer Shelves US IPO Plan

Food delivery app Zomato is in talks to invest around $100 million in e-grocer Grofers, two people in the know told ET, after discussions of a possible merger between the two fell through last year at the onset of the Covid-19 pandemic. Zomato’s investment is likely part of a larger financing round and may value the Gurugram-based online grocery firm at around $1 billion, sources said. This time the talks have centred around a capital infusion, unlike last year when Zomato would have likely acquired Grofers in an all-stock deal….

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