Google Has Been Fined $593 Million
Plus, Microsoft to acquire cybersecurity company & McDonald’s adds more benefits to attract new workers
Alphabet’s (GOOG) Google was fined $593 million in France after the search giant failed to follow an order to thrash out a fair deal with publishers to use their news content on its platform.
Why this matters: Remember when Australia made Facebook (FB) and Google pay local publishers for news? Seems like they have to start paying local publishers in France as well. European publishers have been pushing regulators to tackle Google, which has lured away billions of euros in advertising revenue which would usually go to the local publishers. (Yahoo Finance)
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Microsoft to acquire cybersecurity company, RiskIQ
Microsoft (MSFT) said it has agreed to acquire RiskIQ, a security software maker.
Why this matters: RiskIQ makes cloud software for detecting security threats which tie in perfectly with Microsoft’s recent security updates and features to Windows and its Azure cloud services. There has been a surge of cyberattacks which is giving Microsoft, other tech companies, and even government agencies a scare. No doubt an acquisition like this is the company looking to protect itself and its customers. (Yahoo Finance)
McDonald’s adds more benefits to attract new workers
McDonald’s (MCD) franchises are offering higher hourly wages, paid time off, and tuition payments in an attempt to win over workers.
Why this matters: Fast food chains and restaurants are struggling to hire staff. Now that many industries have resumed operations, restaurants are struggling to keep up with demand. According to the US Labor Department, the rate of restaurant and hotel workers leaving their jobs hit a two-decade high in April and remained there in May. (WSJ)
After 27 years, Amazon founder, Jeff Bezos, has stepped down as the CEO of the e-commerce giant.
That’s it from us.
See you tomorrow.