Faraday Future founder files for Chapter 11 bankruptcy

Faraday Future founder files for Chapter 11 bankruptcy

October 18, 2019 workapp 0

Faraday Future’s founder and former CEO Jia Yueting has filed for Chapter 11 bankruptcy in Delaware court in a bid to satisfy his myriad debts in China. The Chinese tycoon claims he still owes around $3.6 billion to more than 100 creditors, thanks, in large part, to the collapse of LeEco, the tech conglomerate he…

J.J. Abrams signs exclusivity deal with WarnerMedia reportedly worth $250 million

J.J. Abrams signs exclusivity deal with WarnerMedia reportedly worth $250 million

October 16, 2019 workapp 0

J.J. Abrams and his production company Bad Robot Productions have signed a deal with AT&T-owned WarnerMedia, the company announced today. The deal is reportedly worth $250 million, according to The Hollywood Reporter. The partnership means that Bad Robot will produce original series and films for WarnerMedia and its various divisions, including HBO and Warner Bros.…

EV startup Canoo’s mysterious backers named in new harassment lawsuit

EV startup Canoo’s mysterious backers named in new harassment lawsuit

October 15, 2019 workapp 0

Electric vehicle startup Canoo and its CEO Stefan Krause have been accused of discrimination, harassment, breach of contract, and wrongful termination in a new lawsuit. The suit — which was filed in Los Angeles Superior Court on Tuesday by Christina Krause, Canoo’s former head of communications and Stefan Krause’s wife — also claims the California…

Eminem’s publisher sues Spotify for copyright infringement

Eminem’s publisher sues Spotify for copyright infringement

October 14, 2019 workapp 0

Eminem’s music publisher, Eight Mile Style, has filed a lawsuit against Spotify, alleging copyright infringement. The suit claims the steaming platform didn’t get proper licenses for the rapper’s music and wants Spotify to compensate the publisher for billions of streams. There are two prongs to the suit, which was first reported today by The Hollywood…

PayPal reinstates controversial policy of pocketing fees from refunds

PayPal reinstates controversial policy of pocketing fees from refunds

October 11, 2019 workapp 0

PayPal is reinstating a controversial policy around its handling of fees in the event of a refund. Starting next month, PayPal will begin pocketing the initial 2.9 percent commission fee sellers forfeit during a transaction even when the seller is refunding a customer in full. The company initially rolled out this policy back in April,…

Apple CEO Tim Cook slams Facebook’s Libra cryptocurrency as a power grab

Apple CEO Tim Cook slams Facebook’s Libra cryptocurrency as a power grab

October 9, 2019 workapp 0

Apple CEO Tim Cook had some choice words when asked about Facebook’s controversial blockchain project Libra, with the chief executive openly characterizing the company’s plans to launch a cryptocurrency as a blatant power grab. Speaking with the French newspaper Les Echos, Cook shot down any notion that Apple might be considering launching a digital currency…

PayPal withdraws support for Facebook’s Libra cryptocurrency

PayPal withdraws support for Facebook’s Libra cryptocurrency

October 8, 2019 workapp 0

PayPal has decided to withdraw from the Libra Association, the 28-member nonprofit organization formed in June 2019 to oversee the cryptocurrency’s creation and eventual consumer rollout. The company doesn’t cite a specific reason, saying only in a statement to The Verge that it decided “to forgo further participation in the Libra Association at this time…

Senators accuse Amazon of evading labor questions

Senators accuse Amazon of evading labor questions

October 6, 2019 workapp 0

Amazon has evaded a request from a group of senators demanding that it disclose the names of the third-party companies it contracts to deliver packages all across the United States. In September, Sen. Richard Blumenthal (D-CT) along with Sens. Elizabeth Warren (D-MA) and Sherrod Brown (D-OH) penned a letter to Amazon CEO Jeff Bezos. The…