Apple is suing former recycling partner GEEP Canada — now a part of Quantum Lifecycle Partners — for allegedly stealing and reselling at least 103,845 iPhones, iPads and Watches that it was hired to disassemble. “At least 11,766 pounds of Apple devices left GEEP’s premises without being destroyed – a fact that GEEP itself confirmed,” reads a portion of Apple’s complaint, as reported by The Logic (via AppleInsider).
Apple sent the recycling firm over 500,000 iPhones, iPads, and Apple Watches between January 2015 and December 2017, according to The Logic’s report. When Apple did an audit, it discovered 18 percent of those devices were still accessing the internet through cellular networks. That 18 percent doesn’t count Apple devices without a cellular radio, so it’s possible an even higher percentage of the gadgets were resold.
Apple seeks to obtain at least $31 million Canadian dollars (roughly $22.7 million USD)
Investors were dumping FAANG stocks again Friday and there just may be some very plausible explanations as to why that’s happening after an apparent rebound from a correction over and done with.
FAANG stocks fell 13% in a span of several weeks in September. Valuations were in re-rate mode as at-home growth services like cloud computing, data center storage, e-commerce and streaming may have seen a massive demand pulled forward from later years in the maturity cycle of these businesses. Friday, FAANG stocks were down more than 2% by 2:15 PM EDT. Cyclical stocks, on a day which employment figures missed estimates and caused some investor anxiety in the morning about the speed of the economic recovery, mostly rose. And the 10-Year Treasury yield rose to as much as 0.70% from 0.67%. That indicates growing inflation expectations, which indicates a recovering economy and means investors do not have to take
Facebook Inc (NASDAQ: FB) on Thursday filed a lawsuit against two companies for allegedly harvesting data from its users in an unauthorized fashion in the Superior Court of California, County of San Mateo.
What Happened: The Mark Zuckerberg-led company said in a statement the two companies scraped data from Facebook and Instagram.
The scraping operation also affected platforms run by Twitter Inc (NYSE: TWTR), Microsoft Corporation’s (NASDAQ: MSFT) LinkedIn, Amazon.com, Inc (NASDAQ: AMZN), and Alphabet Inc’s (NASDAQ: GOOGL) (NASDAQ: GOOG) YouTube, as per Facebook.
The Menlo Park-based social network giant said that the two companies — Israel-based BrandTotal Ltd and Delaware-incorporated Unimania Inc — allegedly took to scraping the web portals in order to sell marketing intelligence and other services.
Why It Matters: Scraping refers to data collection through unauthorized automation that targets a website or an app.
The social media behemoth said that the two companies purportedly used browser