Companies accused of limiting online sales
European Commission agents have reportedly raided corporate offices of Samsung, Philips and retail giant Media-Saturn, as part of an investigation over improper price manipulation, according to a Reuters report. Regulators believe the companies may have colluded to limit online distribution in an attempt to artificially inflate prices.
No laws broken, no action to be taken as foreign sales mount
The SEC investigation of Apple's foreign cash holdings and whether the company was dodging -- legally or otherwise -- any tax responsibility to the US has closed with the agency planning to take no further action on the matter. Following somewhat fiery hearings in Congress that some say used Apple as a scapegoat for the wider issues of US companies taking advantages of tax loopholes -- which Congress inserted into the tax code in the first place -- the agency appears to have found Apple doing nothing wrong within the boundaries of the current law.
Charges of widespread monitoring follow discovery of Verizon NSA data collection
Just a day after respected UK newspaper The Guardian reported that a leaked secret US court order showed that the National Security Agency (NSA) was harvesting millions of phone records and "telephony metadata" from Verizon customers, a new report from The Guardian and the Washington Post has charged that the NSA is further using a secret program called PRISM to harvest usage data from the internal servers of most of America's major tech companies -- including Apple, Google, Microsoft and many others.
End result of probe unclear; no laws likely broken
According to a report at the New York Times, and confirmed by our own sources, the Congressional investigation in to the accounting practices of technology companies with offshore properties used as tax havens is drawing to a close. The year-old investigation involves a minimum of seven large technology companies, including Apple, Google, HP, Microsoft, and Yahoo.
New audits ordered, scheduled to be complete by the end of 2012
Samsung Electronics said that it plans on inspecting 250 Chinese parts manufacturers to ensure no labor laws are broken. The move comes following a US-based group's claim that one of Samsung's suppliers is using child labor. Samsung said it would conduct inspections for 105 supplier companies by the end of September, and conclude the investigations on the rest of the manufacturers by inspecting hiring paperwork by the end of the year.
Cause of smoking iPhone on flight revealed in investigation
An iPhone that started smoking on a flight to Sydney last November has been explained. The Australian Transport Safety Bureau conducted the investigation and found that a misplaced screw within the handset had punctured the battery casing. The resulting short circuit caused the battery to overheat and start smoking. According to the ATSB, the screw was misplaced by an unauthorized service center during a screen replacement. Although no one was hurt during the flight from the faulty handset, the chief comissioner of the ATSB, Martin Dolan, warned passengers to carry electronic devices in the cabin and to not store them with checked-in baggage.
Olympus scrambles to restore public trust
The once proud Japanese camera and medical equipment maker Olympus is readying to take legal action against its own executives. Any executive found to have been complicit in its multi-million dollar accounting scandal will be hit with legal action as well as possible criminal complaints, according to Reuters. The company has been reeling since admitting that it used advisory fees to cover up investment losses made in the 1990s to avoid reporting them in its financial results.